Lone Pine, Traxis Lead Funds Betting on India Stocks Recovery
Wednesday, August 13, 2008 : PermalinkBloomberg - Lone Pine Capital LLC, run by Stephen Mandel, and Traxis Partners LLC are among 56 overseas funds that registered to buy shares in India in July, the most in six months, betting on a recovery in stocks.
Helios Capital Management Pte and Stonewater Capital LLC also won approval from the nation’s regulator, nine months after authorities forced hedge funds to register. The Securities & Exchange Board of India will review those rules in Mumbai today.
India’s stock market recovered its $1 trillion in market value last month, helped by the biggest drop in commodity prices in 28 years. The new funds may help reverse record sales of stocks by overseas investors that led to the biggest first-half slump in the Sensitive Index since its 1979 creation.
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