Helios Capital Management, The Hedge Fund manager plans to start a “Slumdog Millionaire” fund that will buy underperforming shares of Indian Companies.
The firm plans to raise about US $ 50 Million by the end of July for its long only Helios India Jai Ho Fund.
The “Jai Ho” fund plans to start by investing in stocks that have fallen at least 50% since the end of 2007, which marked the end of India’s five year bull run.
9 of the 50 members of the National Stock Exchange’s (NSE) Nifty have lost more than 50% Since December 2007. These companies include DLF & Tata Motors.
The idea is to buy stocks in companies that do not have life threatening debt, are sure shot survivors and have become cheap on some appropriate parameters.
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