Top Indian Hedge Fund Raises Cash to 65% Due to Rupee Weakness
- Rupee can fall further if trade war escalates: Avendus
- Fund favors Indian software exporters on weakening rupee
This article is for subscribers only.
India’s top hedge fund has raised its cash holdings to a record 65 percent of its assets as the rupee hit multiple lows amid a selloff sweeping developing nations.
The Avendus Capital Alternate Strategies’ Absolute Return Fund, the nation’s biggest hedge fund with $600 million in assets, raised its cash levels from 20 percent in February, Andrew Holland, Chief Executive Officer at Avendus, said in an interview.