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Two large India-focused foreign funds trim exposure over oil, rupee, polls

Holdings of Franklin India and Aberdeen Global fall $830 mn and $130 mn, respectively

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Representative Image

India-focused funds based abroad are reshuffling their portfolios to deal with uncertainties that have crept up in recent months.  Franklin Templeton Investment (Franklin India MF) reduced its exposure by $830 million (Rs 58.6 billion) in the September quarter. Aberdeen Global (Indian Equity Fund MF) pruned its exposure by $130 million (Rs 9.1 billion) in October.  While the extent to which this cut was related to price fluctuations couldn’t be ascertained, Bloomberg data shows Franklin India MF had reduced its shares’ position in 19 of the 42 companies ...