Global investment firm Jefferies will bring HDFC Bank back into its Asia ex-Japan long-only portfolio with a 4% weightage, as part of its year-end portfolio adjustments. These will be paid off by reducing 1 percentage point each in Macrotech Developers, Larsen & Toubro, ICICI Bank, and Axis Bank, according to the latest Greed and Fear report.
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Jefferies will also introduce a 4% allocation to Siemens, by removing the investment in Samsung Electronics Pref and shaving the investment in SK Hynix by 1 percentage point from the Asia portfolio.
The Asia ex-Japan long-only equity portfolio includes names such as Zomato, State Bank of India (SBI) and SBI Life, Godrej Properties, Macrotech Developers, GMR Airports Infrastructure, and ICICI Bank, Larsen & Toubro, and JSW Energy.
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Chris Wood, global head of equity strategy at Jefferies, has said: “As for the India long-only portfolio, an investment in Siemens will be introduced with a 4% weighting by removing the investment in AU Small Finance Bank.”
“The investment in HDFC Bank will also be increased by 1 percentage point by shaving the investment in Axis Bank.”
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The India long-only equity portfolio includes Reliance Industries, Coal India, Aditya Birla Real Estate, DLF Macrotech Developers, Thermax, MakeMyTrip, and Adani Ports & Special Economic Zone—apart from most from the Asia ex-Japan portfolio.
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