Renaissance Investments Managers' India Next Fund to invest in equities

India witnessed just 3.5 per cent average growth in the IIP in five years from 2012-13 to 2017-18 against average 6.3 per cent in years before that since 1991 when economic reforms started

For many, macro-economic parameters have worsened in the recent past.

For instance, index of industrial production (IIP) growth was at a seven-month low in May, the consumer price index-based inflation rate stood at a five-month high in June and the trade deficit wound at almost a five-year peak in June.

Quite contrary to this, Renaissance Investments Managers has launched a hedge fund on the theme of India's economy at a time when foreign portfolio investors have become net sellers since the start of this calendar year. 

Simply put, a hedge fund is a pool of money that takes both short and long positions,