Readings: NSE growth, Hedge funds in India
- Financial Express: NSE becomes world’s 2nd fastest growing stock exchange
The National Stock Exchange has become the world’s second fastest-growing bourse in terms of number of listed companies, while Bombay Stock Exchange has consolidated its position as the biggest bourse.
NSE has seen a whopping surge of about 13-times in number of listed companies in nearly 13 years from about 100 firms in 1994-95.
Here’s a chart from the June 2007 NSE newsletter that illustrates this:
What’s really interesting is that the NSE had as many as 1400 listed companies in 1997; the number dropped all the way to 800 by mid-2003 but is now rapidly climbing back.
- Business Standard: Baer plans $250 mn hedge fund
Private equity player Baer Capital Partners plans to launch $ 250 million India-dedicated hedge fund by the year-end. Baer Capital is the first hedge fund to announce its India plans, after the recent proposal by the Securities and Exchange Board of India allowing direct entry of hedge funds.
It will be a long biased hedge fund using futures/derivatives to hedge itself against market decline. It will have more flexibility to stay in cash or take concentrated position and will be focused mainly on the mid-cap stocks across sectors.
If anyone knows of domestic hedge funds, do share the information. I don’t mean domestic arms of FIIs, but truly home-grown hedge funds - the Indian equivalent of firms such as Bridgewater Associates, D. E. Shaw, Citadel Investment Group, etc.
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November 9th, 2007 at 1:11 pm
The diversification and the institutionalization of Citadel are becoming more prevalent. And it’s fair to say that going public is the direction that Ken [Griffin] wants to go.