THE TANTALLON INDIA FUND

 

 

The Tantallon India Fund is a fundamental, long-biased, India-focused, total return opportunity fund, registered In the Cayman Islands and Mauritius.  The Fund invests with a 3-5 year horizon, in a concentrated portfolio (25-30 unlevered positions), market cap/sector/capital structure agnostic, but with strong conviction on the structural opportunity, scalable business models, and in management’s ability to execute.

 

 

Performance Since Inception

(Click on each month's data below to read the monthly pdf report)

 

 
Return
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Inception
+19.87%
                       
2020
+0.37%
2019
+2.94%
2018
-22.79%
2017
+59.14%
2016
-5.79%
2015
+0.24%
               

Latest Investment Report

Tantallon India Fund, January 2020

The Tantallon India Fund closed up +0.37% in January with market volatility spiking significantly into month-end as investors grappled with sparse ‘facts’ on the Wuhan Coronavirus, and the underlying implications of a prolonged ‘shut-down’ of Chinese manufacturing capacity on Chinese and global growth, and crucially, on global supply chains. The collapse in energy prices over the last couple of weeks has underscored the fragile under-pinnings of global demand, while the resilience in US markets probably reflects surging global liquidity (with the FED’s holding of treasuries rising to pre-2018 levels, growing at ~US$60bn/month, the ECB scaling-up its bond repurchases to ~US$22bn/month) and the Chinese preemptively injecting US$ 174bn into the system while signaling a thaw in global trade tensions in an effort to mitigate the economic fallout of the coronavirus-induced slowdown.

Read full report (pdf)

 

 

Last Three Months Reports (pdf)

 

For details and performance of our Funds, please check our other pages:

The Tantallon Fund

Tantallon Tech & Sustainability Fund

 

Other News

Post card from Iran

There is so little information on Iran you cannot even find the Teheran Stock Exchange on Bloomberg. Yet this is an exchange with a market cap of US170billion, turning over up to US150m/day with zero foreign participation, entirely on the back of domestic mutual fund and retail investors.

News from Ukraine

In Lv’iv on the morning of my departure I attended the funeral of one of the casualties of the “anti-terrorist operation” in Donetsk. Loudspeakers relayed polyphonic chant from impressively hirsute Orthodox clergy to a cluster of old women and an honor guard, smoking furiously and in no mood to be photographed, waiting to transport the hearse the short distance from the altar to a waiting ambulance.

Previous Performance Data & Reports