India has been overbought, warns Martin Currie's Graham

Alice Rigby

Martin Currie's Andy Graham has warned that Indian assets have been overbought, adding an expected increase in profits is unlikely to filter through to investors in the near future.

Graham (pictured), who manages the firm's Asia ex-Japan propositions, including the Pacific trust, said emerging markets equity managers had been lured into holding too much in Indian stocks due to disappointing performance from the other regions to which they traditionally allocate. India funds have returned as much as 60% since the election of pro-business Prime Minister Narendra Modi last year, according to FE data, prompting significant inflows and broader purchasing of Indian equities. Some of those buyers are purchasing Indian companies which have as much cyclical risk, but high...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Equities

Daryl Liew, CIO at REYL Singapore.

REYL's Liew eyes return to overweight positions in Asian quality growth names

'It's a question of timing'

clock 28 June 2022 • 3 min read
Industry Voice: T. Rowe Price's 2022 Midyear Market Outlook summary

Industry Voice: T. Rowe Price's 2022 Midyear Market Outlook summary

Transitioning to a new paradigm

Ritu Vohora, Investment Specialist, Capital Markets at T. Rowe Price
clock 23 June 2022 • 2 min read
Amazon shares are down 40% from its peak

Growth stock pickers feel like 'a kid in a candy shop'

'It is time to go shopping'

clock 22 June 2022 • 4 min read