Jupiter India relegated from Fidelity's top ten most-bought funds as investors turn defensive

Move towards energy trusts

Having spent the entirety of 2024 in Fidelity International’s top ten best-selling funds, the Jupiter India portfolio has dropped out of the list for the first time this year amid growing concerns over India’s economic outlook, and an increasing investor migration towards more defensive positioning.

Ed Monk, associate director at Fidelity, noted that the shift away from Jupiter India "may reflect investor caution on growing concern that the market bull run may finally be coming to an end, as international enthusiasm for Indian assets has cooled". During October, India's main stock market indices, the BSE SENSEX and the NSE Nifty experienced their steepest monthly declines since March 2020, while the rupee edged close to a record low against the US dollar.  "Fidelity's personal investors seem to be reassessing their exposure amid a less favourable economic environment," Monk added...