JPMorgan Chase & Co. will likely include India’s sovereign bonds on its indexes next year as investment hurdles get resolved, according to a Bloomberg report quoting Sabrina Jacobs, a senior client portfolio manager for emerging-market fixed income at Pictet Asset Management SA.
JPMorgan is expected to unveil the results of its index reviews by October.
“According to our meeting with the index provider, India is keen on that inclusion even though it may not appear so to the outside… We are looking at mid-2024 as a start for the inclusion and then a phase in,” said Sabrina Jacobs, a senior client portfolio manager for emerging-market fixed income at Pictet Asset Management SA, said in an interview, according to the Bloomberg report.
In recent years, India has come close to opening its $1 trillion government debt market to more global funds before pulling back from meeting the requirements for index inclusions. Morgan Stanley estimated India’s inclusion into two out of three global bond indexes, including a JPMorgan developing market gauge, would drive $40 billion of inflows.
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