Market Bizzz

Martin J. Pring is the president of Pring Research and Chairman of Pring Turner Capital group, a money management and sub-advisory firm which provides research to individuals and financial institutions around the world.

Money managers scrambled to start funds anyway. The likes of Schroders Plc and Franklin Templeton — along with Goldman Sachs Asset Management — gobbled up billions of dollars from clients looking to profit by combining investments in Brazil, Russia, India and China. That marketing ploy has come crashing down and now faces an existential crisis.

In an interview to ETMarkets.com, Nilesh Dhedhi, Head of Structured Credit, Avendus Finance, charts out how the NBFC crisis following the collapse of IL&Fs and then the onset of the COVID-19 pandemic drove the shift to private credit.

Right now, the 6.6% surge in the S&P 500 ranks — somehow — as the biggest rally to coincide with the start of a Federal Reserve rate-hike cycle since World War II, data compiled by Ned Davis Research and Bloomberg show. Fueled by positive economic reports, equities just notched their second straight week of gains, with the S&P 500 recouping half its losses since January.

Lithium-ion battery pack maker Cygni Energy Private Limited is looking to invest about $40 million (over Rs 300 crore) to set up a greenfield manufacturing plant near Hyderabad with the capacity to put together around 40,000 batteries a year, its chief executive told ET.