जय हो में निक्षेप करो
Helios Capital Management Pte, the hedge-fund manager once backed by Tudor Investment Corp., plans to start a “Slumdog Millionaire” fund that will buy underperforming shares of Indian companies.
“We want to find slumdogs from the Indian equity markets who have the potential of becoming millionaires,” Samir Arora, founder of Singapore-based Helios Capital, said in an interview.
The firm plans to raise about $50 million by the end of July for its long-only Helios India Jai Ho Fund, Arora said. “Jai Ho,” which means “victory” in Hindi, is the Oscar- winning theme song from “Slumdog Millionaire,” a feel-good tale of a Mumbai orphan’s escape from poverty that scooped eight Academy Awards, including best picture, this year in Los Angeles.
The new fund comes after India’s benchmark Sensitive Index has already jumped 54 percent this year, making it the world’s sixth-best performer and partially reversing last year’s rout. The index surged a record 17 percent on May 18 as investors bet the ruling Congress party’s biggest election victory in two decades will enable it to ease foreign investment rules and sell state assets policies stalled by Prime Minister Manmohan Singh’s communist partners in his previous term.
“We want to find slumdogs from the Indian equity markets who have the potential of becoming millionaires,” Samir Arora, founder of Singapore-based Helios Capital, said in an interview.
The firm plans to raise about $50 million by the end of July for its long-only Helios India Jai Ho Fund, Arora said. “Jai Ho,” which means “victory” in Hindi, is the Oscar- winning theme song from “Slumdog Millionaire,” a feel-good tale of a Mumbai orphan’s escape from poverty that scooped eight Academy Awards, including best picture, this year in Los Angeles.
The new fund comes after India’s benchmark Sensitive Index has already jumped 54 percent this year, making it the world’s sixth-best performer and partially reversing last year’s rout. The index surged a record 17 percent on May 18 as investors bet the ruling Congress party’s biggest election victory in two decades will enable it to ease foreign investment rules and sell state assets policies stalled by Prime Minister Manmohan Singh’s communist partners in his previous term.