India doesn’t stack up too well at the moment when you look at some other places in emerging market context, said Jonathan Schiessl, Ashburton.
“India is struggling but there is massive dislocation even within the Indian market, the narrow indices are clearly outperforming the broader smaller cap indices. So, from a global perspective if most people are looking at Nifty or Sensex or MSCI India index, India is actually not too far off the highs. So, globally, it is a technical factor for China looking slightly more attractive to us but globally China at the moment is more of a consensus overweight versus India,” he said.
Speaking on Information Technology sector he said, ” I think Indian IT could be in a fairly good position for the next few years after an initial period of scepticism. We have a decent position in the funds to Infosys and one other IT name as well. Obviously, in just 12 months you have seen a massive outperformance of IT and this has got to do with the currency, improving global economy but also the underlying fundamentals have improved for these companies.”
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