Hedge funds focused on India had far and away the industry’s best year, per hedge fund research firm HFR, which just released performance numbers for the industry through mid-December.
The funds got a lot of help from India’s surging Sensex index in the wake of Narendra Modi’s May election as prime minister. He campaigned on promises of economic reform and boosting foreign investment in the country. Indian stocks, like India-focused hedge funds, blew their US-centric counterparts out of the water.
