Indian Stocks Soaring High

Since the drop in global stock markets in mid-August, Indian stocks are soaring high in the midst of a very volatile market. It's rather hard for individual investors who are unfamiliar with Indian conditions and its econo-political scenerios to focus on individual stocks. However, there are 3 funds which may be considered as good vehicles to reach the global investment trend of the 21st century -- 'Destination India' :

(i) Morgan Stanley India Investment Fund (IIF). The best-performing holdings in its portfolio include Nestle India, Bharat Heavy Electricals, and Jyoti Structures. On Friday this Exchange Traded Fund (ETF) closed at $58.93

(ii) The India Fund Inc. (IFN) is a closed-end mutual fund. The fund allocates 15.8% of assets to software, 13.2% to oil and gas, 10.3% to banks, 9.4% to telecommunications, 5.4% to auto manufacturers and 4.9% to electrical components and equipment. On Friday it closed at $63.35.

(iii) iPath MSCI India Index ETN (INP). This is an exchange-traded note, an investment vehicle very similar to an exchange-traded fund. The difference is that ETNs are designed to have less tracking error than ETFs so that the value of the investment more closely mirrors that of the underlying index. On Friday it closed at $91.70.