The Tantallon India Fund closed 11.29% higher in November with markets hopeful over the prospects of “successful” vaccine intervention, reassured by the prospects of a Biden-reset with the rest of the world, and crucially, enthused by the prospects of a Powell/Yellen combination anchoring extended policy and liquidity support as a buffer against collateral damage from resurgent Covid-19 infections globally.

On India specifically, we remain more positive than consensus. We expect real GDP growth to actually turn positive in the December quarter on the back of the resilience in the rural economy, accommodative monetary policy, recovering business and consumer confidence, and a strong recovery in manufacturing and exports.

Reflecting on our virtual meetings

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