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To: ANANT who wrote (15687)	1/6/1998 1:28:00 PM
From: Sonki	Respond to of 27012

anant, ot fyi on india fund Nice to know that you people are interested in the Asian Markets. I would like to pose a similar question about the general view re: India. This is particularly because the Indian stockmarkets are being moved considerably these days by foriegn institutional investors (FII). The FII allocations for the new year are said to take place in January. For the past three years we have been witnessing substantial stock price movements ( upto 40-80%) from November through March. This year too, the markets in India have bottomed out early December are now inching upwards steadily in expectation of the fresh fund allocation to Asian markets. There was a recent article which suggested that Morgan Stanley recommended a 20% allocation to Asian markets of which 10% (or half the amount to India). If this is true then we seem to be set for a big bull run in India. I would certainly appreciate some feedback if RTers have read anything on investments into India. As a background, FII investments have been rising steadily and over the past three years have reached $12 billion. Nov-Dec97 was the first time when there was a net outflow from India and the quantum of investments has now decreased to around $9 billion. This was a fallout of the problems faced by the other Asian markets whereas India was one of the few markets where the FIIs were able to book substantial profits to offset their losses in Korea, HongKong etc. I would really appreciate some feedback/viewpoints etc either pvt email or through the list. ===========================, I have heard tow comments from separate people about Russia and India. That what has happened in Asia is going to happen to Russia and India. One of these persons works for American Express fairly high up. He has always been honest and fair with my wife. What is going to be the catalyst for disaster he didn't say. But he was just waiting for the problems to happen. Just a matter of time. If you have some due diligence try to check India's balance of payments and current account if you can. Then compare it with some of the other countries like Brazil, Hong Kong, Japan. Make comparisons prior to the Asian crisis and after. This can give you some feed back on the soundness of the Indian economy. Next time I see Fred (American Express), I'll ask him a few more questions. I have a very good friend who live in Mambay, India. So I am a little concerned about he and his families wealth if something does happen. Best of luck,