COVID-19 wreaks havoc across global economies and India is no exception despite strong governmental measures during a 21-day pan-India lockdown, and a well-timed round of fiscal and monetary stimulus.
Continued escalation in COVID-19 infections and quarantines drag economic sentiment and activity.
The Fund was up INR 0.07% in November
The Fund was up 0.58% in INR terms in November
Global tailwinds along with domestic monetary and fiscal stimulus restore growth optimism, fueling sharp risk market rallies
The Indian government intervenes with the biggest tax reform of the past 28 years’ and the RBI is supportive with an additional 25 bp cut in early October.
Heavy lifting by RBI and government backstops had a mixed impact on debt markets
Union budget & growth pangs spur treasuries, jar equities and credit markets, but leave currency unruffled
Increasing growth concerns in global and domestic markets dictate performance across asset classes
Debt markets take a breather after sharp gains in March
European Central Bank slashing its economic growth forecast and increasing optimism over US-China trade negotiations.
Markets were concerned in February about the government taking populist steps prior to the general election in May.