PAG-Backed Indian Asset Manager Eyes Mideast For $400 Million bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The Mumbai-based firm is targeting 40 billion rupees ($479 million) for its latest Nuvama Crossover IV fund and expects to raise at least $300 million from family offices and rich individuals in the Middle East, according to Anshu Kapoor, president and head of the business.
ALFI conference: The world spins around Luxembourg funds-europe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from funds-europe.com Daily Mail and Mail on Sunday newspapers.
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While fast-growing US tech stocks have been driving returns on the S&P 500 for the past decade, that trend accelerated in 2020 as the pandemic and lockdowns drove demand for digital services. And it was the biggest tech companies that enjoyed the lion’s share of the growth.
At the start of 2020, the five largest companies – Apple, Amazon, Facebook, Microsoft and Alphabet (Google) – made up around 17.5 per cent of the S&P 500 index. That rose to 22 per cent by the end of the year.
This growth means that many investors have a higher concentration of these companies in their portfolio, which could leave them exposed in the case of a significant pullback. Even in a fund tracking a globally diversified equity index like the MSCI All Country World Index – composed of nearly 3,000 large and mid-cap stocks across 50 different countries – these five companies made up nearly 12 per cent of the total weight at the start of January 2021.