India’s equity market offers a rich set of opportunities for global investors – from long-established enterprises to highly innovative companies on the frontiers of global change.
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The current weakness in macroeconomic and high-frequency data out of India is a well-recognized fact. Credit growth is weak, inflation is rising, electricity demand remains low (despite a January turnaround), and manufacturing growth is stagnating – the data don’t look encouraging. However, as long-time investors in India, we offer a different (and simple) perspective: while investors should rightly take these macro factors into account when considering investments, they should be careful not to draw inferences beyond what the data are saying. With that in mind, let’s look at several concerns that could have a bearing on the outlook for Indian companies.
Indian companies power many of the world’s vital industries. Learn about the rich opportunities across the over 4,500 listed companies, representing a wide range of sectors and industries, in India.
1 as of 30 September 2020.
2 These awards include: Fund Selector Asia Awards, Hong Kong 2019; Gold Winner, Regional/Single Country Emerging Market Equity; Fund Selector Asia, as of January 2019. For the award methodology, please visit: https://fundselectorasia.com/winners-of-the-fsa-fund-awards-in-hong-kong-are/2/; Thomson Reuters Lipper Fund Awards, Singapore 2018; Best Fund Over 10 Years, Equity India, Awarded to PineBridge India Equity A USD. Based on the highest Lipper Leader for Consistent Return (Effective Return) value within each eligible classification determines the fund classification winner over three, five, or 10 years. For a detailed explanation, please review the Lipper Leaders methodology document on https://lipperalpha.financial.thomsonreuters.com/lipper.
3 as of 30 September 2020.
4 as of 30 September 2020. India-based team members provide nonbinding advisory services to PineBridge Investments Asia Limited.
5 as of 30 June 2020.
6 Morningstar Rating™ Source: Morningstar Essentials™. Copyright © 2020 Morningstar, Inc. All Rights Reserved. Morningstar Rating as of 30 September 2020 in the INDIA EQUITY Morningstar Category. Morningstar Performance ratings shown reflect the share class performance shown unless noted otherwise.
Awards are for reference only. It is not indicative of the actual performance of the funds. Third-party rankings from rating publications are no guarantee of future investment success. These ratings should not be construed as an endorsement of the advisor by any client nor are they representative of any one client’s evaluation. Generally, ratings, rankings, and recognition are based on information prepared and submitted by the advisor, and are part of a process in which not all advisors elect to participate. A more detailed disclosure of the criteria used in making these rankings is included in the footnotes for each award. Information contained in this material is based on sources we believe to be accurate as of the date indicated. No representation or warranty is made. We reserve the right to revise any information at any time without prior notice.
Past performance may not be a reliable guide to future performance. Investment involves risks including the possible loss of principal amount invested. The value of the units in the Fund and the income accruing to the units, if any, may fall or rise. The Fund may use or invest in financial derivatives for efficient portfolio management and hedging purposes. PineBridge India Equity Fund (the “Fund”) is a sub-fund of PineBridge Global Funds, an Irish domiciled UCITS umbrella fund, authorized and regulated by the Central Bank of Ireland and registered as a recognised scheme under the Securities and Futures Act (Cap 289) in Singapore. The manager of the Fund, PineBridge Investments Ireland Limited (the “Manager”), has appointed PineBridge Investments Singapore Limited (“PBIS”) as its representative in Singapore. We are not soliciting or recommending any action based on this material. Investors should seek professional advice, and read the prospectus and the product highlights sheet, available from PBIS or any of its appointed distributors, for further details including the risk factors, before investing. This is not intended to be a recommendation to buy or sell a security or an indication of the holdings of any portfolio or an indication of performance for the subject company/issuer.