Tantallon India Fund: Trade, Iran sanctions, Indian budget weighed on performance

(July 15): The Tantallon India Fund closed 0.19% lower in June, with anxiety over multiple trade conflicts, heightened concerns over a potential military conflict with Iran and expectations of a more populist tilt in the Indian Budget keeping investors on the sidelines.

We are disappointed that the Budget was not more bold with targeted infrastructure and rural spending, given the sharp slowdown in the real economy. That said, we are encouraged by the fact that Prime Minister Narendra Modi has chosen to stay fiscally disciplined.