The fund’s initial investment of $1.9 billion in March has ballooned to $10 billion in value, helped by market gains and additional stakes, according to fund manager Sudarshan Murthy.
Most Adani Group companies are yet to fully recover from the damage done by the Hindenburg Research report. While their financials have improved during this period, investors seem to be cautious as valuations still look stretched.
India’s total net FPI investments stood at ₹1.62 trillion in the calendar year through 27 December. GQG Partners alone accounted for nearly 28% of those inflows.
The value of India investments across six of GQG’s funds jumped to $9.9 billion compared with $4.4 billion a year earlier, according to data compiled by Bloomberg from latest regulatory filings and information on the Florida-based investor’s website.