AI trade may cool, bringing India back into focus: Amundi Global CIO Vincent Mortier
Amundi favours India on strong growth, sound finances and attractive valuations amid AI uncertainty
Amundi Global CIO Vincent Mortier suggests that the global interest in artificial intelligence (AI) may be cooling off, offering India an opportunity to shine. Mortier, the Deputy CEO and Global CIO of Amundi, believes that India has been disregarded during the AI-driven market rally and geopolitical concerns. Despite this, he highlights India as one of the strongest macroeconomic stories among emerging markets, citing its robust growth, sound finances, and currently undervalued stock prices.
However, Mortier cautions that expectations regarding earnings growth and monetization may prove to be too optimistic, leading investors to reevaluate their investment strategies. Amundi currently holds an overweight position in emerging markets, with 8-10 per cent of its portfolio allocated to India and China, which exceeds benchmark weights.
Moreover, Mortier advocates for greater representation of India in global benchmark indices and shares a similar sentiment with 10 per cent of his personal equity investments directed towards India through a Nifty-linked ETF.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
