Toby Nangle, head of multi-asset allocation at U.K.-based Columbia Threadneedle Investments, a global asset management group, says that India is better shielded than other emerging markets from risks tied to policy shifts in the U.S. In an interview on Bloomberg Television, Nangle said, “It’s a bit of a sleeper trad; there’s a nice, clear structural story which isn’t contingent on the whims of Washington.”

India’s S&P BSE Sensex Index has jumped 11 percent this year; the government has been instituting economic reform; and sovereign bonds have been gaining on speculation that a stronger currency will lure more foreign inflows into its debt market, reports BloombergMarkets.

“Where’s the lowest hanging fruit within emerging markets?” Nangle said. “It looks to be actually India.” He advocates seeking opportunities that might be too small for major global investors.