MSN India – Fund managers are aggressively selling the India theme to overseas investors. After Singapore-based Helios Capital’s fund manager Samir Arora’s India-focused Slumdog Millionaire Equity Fund, domestic brokerage firm India Infoline, run by Nirmal Jain, and Atlantis Investment Advisor headed by Vinay Gairola have launched India-focused off-shore funds.

While Gairola is trying to sell his India Alfa Fund to investors in West Asia, Singapore-based fund managers of India Infoline—Deepesh Pandey, the erstwhile deputy CIO of Mirae Asset, and Manish Srivastava, ex-fund manager of Halbis (HSBC Global Asset Management) — have conducted roadshows for the ‘Mumbai’ Fund in Hong Kong and US markets. Both are long-short equity funds and are likely to raise nearly $100 million.

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MSN India – The Children’s Investment Fund Management and its affiliates have emerged as the single-largest seller of Indian stocks among foreign institutional investors (FIIs).

The hedge fund registered its biggest annual loss in 2008.

The fund is liquidating its investments in India at a steep discount to the prices at which it bought the stocks last year. The Bombay Stock Exchange Sensitive Index has declined 15.4 per cent this year while the Bankex, the banking index, has lost 33.4 per cent.

The UK-based hedge fund accounts for about 10 per cent of an estimated Rs 10,772 crore of stock sales by FIIs so far this year. So far, Children’s Fund has sold as much as Rs 1,154 crore worth of stocks, or 33 per cent of its purchases last year, a study by the Business Standard Research Bureau showed.

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Tags: bombay stock exchange, crore, foreign institutional investors, fund accounts, indian stocks, investment fund management, investments, msn india, rs-1, sensitive index, steep discount, stock sales