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Friday, September 13, 2013

Aberdeen Unseats HSBC as Top India Fund as Rupee Crisis Takes Toll

As of July, Aberdeen had invested just over a fifth of its assets in Indian software exporters, which benefit from the rupee's fall because of their dollar earnings
For years, Aberdeen Asset Management laboured in India in the shadow of HSBC's star stock-picker Sanjiv Duggal. The rupee crisis has changed that.

A lower-risk investment approach by Aberdeen has trumped Duggal's riskier strategy, which had paid off handsomely for years, in a dramatic change of fortunes for the two largest India funds geared to foreign investors.

Continue Reading Story Financial Express