The Indonesian government plans to announce a package of measures Friday to address the worsening economy. "In the last three days, the Cabinet has been formulating policies and measures to maintain the economy with the main purpose to create the stability of our financial and to manage the economic growth not to slow significantly," President Susilo Bambang Yudhoyono said, noting that the country is now unlikely to realize a 2013 growth target of 6.3%.
A number of large renminbi-denominated private-equity funds of funds are expected in China after the closure of Guochuang Kaiyuan Fund of Funds in February at US$2.45 billion made it the largest of its kind to close globally in the first half. One factor contributing to growth is the new permission that insurance companies have to invest as much as 10% of their assets under management in PE funds.
A sliding market and weakening rupee have combined to take a heavy toll on India's exchange-traded funds this year. The prospect of U.S. Fed tapering and fears that India may introduce capital controls have only compounded the problem.