Managers upbeat despite Indian market tremor

Trading on Bombay’s Sensex index had to be suspended for an hour as investors panicked following a Securities & Exchange Board of India (SEBI) statement calling for a cap on the amount of foreign money entering the market. The SEBI plans to moderate the level of funds investors pump into India by changing its policy on Participatory Notes (P-Notes) used by investors not able to trade Indian equities directly. Allianz RCM BRIC Stars fund manager Michael Konstantinov says the move is designed to slow the rapid rise of the local currency, which is causing major concerns for exporters. “...