Assorted Links

  1. Finance Ministry seems to have put up its case to allow Public Sector Units with surplus cash to invest in Mutual Funds. The surplus amount the article tells me is Rs 2,50,000 crore. Well to give you an idea of how huge the figure is consider this: Foreign Institutional Investors invested USD 9.3 billion in 2005-06 which when multiplied by 45 ( to convert into rupees) is about 41,850 cr and this amount is almost 6 times.
  2.  The Great Indian PMS (Portfolio Management Services) trick. A very apt title indeed.
  3. Are Hedge Funds worth it? The article says no. Here is a summary:

Last year was actually a pretty tough year for the industry. Because hedge funds tend to make a lot of countercyclical bets — thus the name — they can often turn a profit even when the stock market falls. When it’s rising broadly, though, many struggle to keep up. Last year, the Standard & Poor’s 500-stock index jumped 14 percent, while the average hedge fund returned less than 13 percent, after investment fees, according to Hedge Fund Research in Chicago.

Thanks to Marginal Revolution for 3.

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