Rewind to May 2014 and Indian equity markets were in a state of euphoria following Modi's stunning election victory, built on the promise of a strong reform agenda.
Emerging market assets have seen another sharp summer sell-off and while this year's edition has been more violent than the past three, the causes are rather familiar.
Argentina, arguably the most famous example of a country that has made a habit out of burning foreign investors' hands, is once again firmly on the radar.
Portfolio will replicate $1.3bn institutional strategy
Indicators forecasting V-shaped recovery
How important is the macro thesis on EMs?
FE's Joshua Ausden scours the marketplace for the best hidden gem funds for your portfolios.
Mark Mobius has stepped back from his role as lead manager of the Templeton Emerging Markets investment trust after 26 years, to be replaced by Carlos Hardenberg.
First State Stewart expects to rebrand its funds this September following its decision to split its business in two on 1 July.