For the third consecutive quarter, the Rajiv Jain-led GQG Partners Emerging Markets Equity Fund was seen boosting its holding in ITC, its biggest stock bet. Jain’s US-based GQG Partners, which oversees $88 billion in assets, made headlines lately by purchasing shares in four Adani group companies, including Adani Ports and SEZ, Adani Green Energy, Adani Transmission, and Adani Enterprises, for a total of Rs 15,446 crore ($1.87 billion).
According to data, the Jain-led GQG Partners Emerging Markets Equity Fund, which has 33 percent of its weight allocated to India, increased its holding in the maker of cigarettes ITC from 15,95,99,760 shares or 1.29 percent in the December quarter to 17,87,71,863 shares or 1.44 percent in the March quarter.
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Data show that the Jain-led GQG Partners Emerging Markets Equity Fund, which invests 33 percent of its assets in India, increased its stake in ITC from 15,95,99,760 shares (1.29 percent) in the December quarter to 17,87,71,863 shares (1.44 percent) in the March quarter.
ITC made up 7.3% of the fund’s holdings as of March 31, according to its factsheet. HDFC made up 4.9% of its holdings in Indian stocks, and ICICI Bank made up 2.5%. GQG Partners Emerging Markets Equity Fund stated in its investment justification that it intends to invest in high-quality, reasonably priced businesses with competitive advantages.
“Our core investment approach is to assess each company’s financial health, potential to sustain earnings growth, and managerial calibre. “Over a full market cycle, the resulting portfolio seeks to manage the downside risk of equity investments while offering long-term investors enticing returns,” it stated. Jain, Brian Kersman, and Sudarshan Murthy oversee the fund.
source from: msn.com
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