Christopher Wood, global head of equity strategy at Jefferies, has reshuffled his Asia ex-Japan and global long-only portfolios, making notable changes in his Indian holdings.
He increased his exposure to Indian real estate and online travel stocks along with Reliance Industries, while trimming stakes in select banking and technology names. Wood also recommended reducing exposure to US equities, citing their high valuations and weakening earnings growth, while advocating for greater exposure to European, Chinese, and emerging market stocks.
In his latest weekly note to investors, GREED & fear, Wood revealed significant changes to his India long-only portfolio. Wood increased his investment in Reliance Industries (RIL) by two percentage points. This was funded by cutting his holdings in HDFC Bank and State Bank of India (SBI) by one percentage point each. The shift reflects his confidence in RIL’s diversified business model and…
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