Global sell-off: Money managers advise investors to add debt funds

Domestic investors poured 1.48 trillion rupees ($23 billion) into stock funds in the first 10 months of the financial year

Money managers in India have a simple message for retail equity investors wounded by the global selloff in the past week: add debt funds.

While the rout has sent markets from US to Asia into declines exceeding 10 percent, fund managers say there are signs that the six-month selloff in Indian government debt -- the longest run since 2000 -- may be nearing an end. The nation’s sovereign bonds Friday capped their first weekly gain in a month after the central bank kept a neutral stance in its policy review.

“There’s a case for people to get into bond funds,” Rajat Jain,