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Informist, Saturday, May 9, 2026

 

--ICICI Pru AMC CIO: Timing not right to diversify invest into overseas mkts 

--Axis MF CEO: To launch 10 passive funds this year

--CONTEXT: Axis MF CEO Gopkumar speaking at Groww investor event

--Edelweiss MF CEO: Intend to start US tech stock fund via GIFT City soon

--CONTEXT: Edelweiss MF CEO Gupta speaking at Groww investor event 

--Axis MF CEO:Looking at investing in South Korea, Japan, Germany equity mkts 

--Axis MF CEO: Rupee depreciation not a long-term issue, unit will stabilise 

 

MUMBAI – Deploying funds into assets abroad currently is a "momentum decision" and may work for the next 12 months, but the timing is not right for long-term diversification of investments, Sankaran Naren, chief investment officer of ICICI Prudential Asset Management Co., said at an event organised by financial services firm Groww on Saturday.

 

In comments made at the event, the top management at some of the largest asset management companies in India had various views on investing in overseas markets, especially in equities.

 

Based on the view that investing in Indian equities is an anti-artificial intelligence trade, while investments in US and Taiwanese equities are "AI trades", investing overseas might be even fine, Naren said. However, "the timing is not right for doing global diversification from a momentum point of view," Naren said. 

 

After the rupee's sharp depreciation against the dollar recently, Naren said one would have to be more circumspect, and that there would come a better time to consider diversifying into equities abroad. "The day India becomes in favour, at that point of time, I think is the time when you should actually consider moving money from India to those (overseas) markets," Naren said. 

 

In a separate panel discussion at the event, B. Gopkumar, managing director and chief executive officer of Axis Mutual Fund, said investors in India might benefit from exchange rates in the longer term, amid depreciation of some currencies, including the rupee. Exchange rate issues get normalised and should not be a cause of concern when investing for the long run, Gopkumar said.

 

Currently, other than the US, Gopkumar said equities in South Korea, Japan and Germany were to watch out for. Gopkumar preferred South Korea and Germany for manufacturing related to artificial intelligence and semiconductors, and pointed out to regulatory reform in Japan. Gopkumar said Axis Mutual Fund would launch 10 passive funds this year, of which two had already been launched.

 

At the event, senior officials from mutual funds also spoke about improving digitisation and retail investors' access to international markets through Gujarat International Finance Tec-City. Radhika Gupta, managing director and chief executive officer of Edelweiss Mutual Fund, said the firm intends to set up its fund for US technology in GIFT City "reasonably soon". The company is aiming for a seamless digital experience for customers wishing to invest abroad--especially through the Liberalised Remittance Scheme--by June, Gupta said.  End

 

Reported by Cassandra Carvalho

Edited by Avishek Dutta

 

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