01.06.2016 - Stay Away From Indian Indexes, Biggest Wealth Fund Manager Says
Quantum Advisors, which picks Indian stocks for Norway’s $860 billion wealth fund, says investors should stay away from index investing in Asia’s fourth-biggest market. Investing in indexes is a poor place to put money because you don’t necessarily go into the companies with the most potential, said Ajit Dayal, the director of the Mumbai-based fund, which manages $2 billion in Indian equities. “It’s a big mistake because you’re buying companies whose business premise isn’t that I have the best product for you,” he said of some companies in an interview Tuesday in Oslo after a seminar organized by Norway’s sovereign wealth fund, the world’s biggest. “The business premise is to have the best connection with the government.”..............................................Full Article: Source
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