Fortis Investments in India crossed the $2 billion mark for assets under management (AUM) on August 11, posting more than 100% growth in its AUM since December 2008.
The fund house attributed the AUM growth to the consistent performance of its fixed-income funds that are among the best performing funds in their respective categories.
In a recent report, Fortis Investment in India noted that continued supply of government securities in the market has dented investor confidence and caused them to remain neutral to negative in the fixed-income market for the near-term. Plus, higher inflation expectations coupled with possible hardening of interest rates later in the year made investors wary about the debt market.
India's stock market has also been performing favourably. The country's economy is showing early signs of recovery and this, plus expectations of continued strong domestic consumption, is likely supporting share prices, according to fund managers.