Fund says Indian bonds underpricing index move

Passive flows into India’s bonds are set to ramp up too, with JPMorgan estimating the securities will attract between US$20bil and US$25bil of foreign money. — Bloomberg

Mumbai: Markets have yet to appropriately price India’s inclusion into global bond indices, according to ICICI Prudential Asset Management Co.

India will be included in JPMorgan Chase & Co’s key emerging-market bond index as of next month, and foreigners have sent a net US$8.2bil into the eligible bonds since the announcement in September.