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India’s Top Hedge Fund Turns to State-Run Banks as Bad Loans Wane

(Reuters) India’s top hedge fund is exploring opportunities in state-run banks, a sector shunned by most investors till now, as valuations turn attractive and the backlog of bad loans that have riddled lenders start to dwindle.State-run banks will also benefit if the economy continues to grow at about 7 percent, Andrew Holland, chief executive of Avendus Capital Public Markets Alternate Strategies LLP, said at the Reuters Global Investment 2019 Outlook Summit.

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