Indian Long-Bond Bull Turns Seller as Supply Concerns Mount

One of India’s most prominent long-bond bulls has slashed his holdings, reflecting the recent change in sentiment after doubling down on the securities just last year.

Suyash Choudhary, a two-decade veteran and head of fixed income at Bandhan AMC Ltd., has cut exposure to the 7.3% 2053 government paper, citing concerns about oversupply. The bond accounted for 50.5% of Bandhan’s dynamic bond fund and 51.1% of its government securities fund at the end of July. The note had made up nearly the entire portfolio since early 2024.