Fund managers reduce bearish stance on India

Fund managers have pared their underweight positions on India in June even as they have reduced their overall exposure to emerging markets to the lowest level since October 2011. India, which is the third least-preferred among the emerging markets, has seen its underweight position come down to 35 per cent in June from 55 per cent last month, according to the latest survey of fund managers by Bank of America Merrill Lynch.