LONDON (Reuters) – A rise in Indian equities to record highs means they have become expensive and Chinese stocks offer more value in the short run, the manager of a newly-launched fund from investment firm Ashburton said.
The Ashburton “Chindia” Equity Fund, set up last month, holds 63 percent of its assets in China stocks and the rest of the portfolio is held in Indian equities, Jonathan Schiessl said in a presentation to journalists about his fund on Wednesday.
“India markets are pricey…interest rates are going up, inflation is going up and some reform moves appear to have halted. I’m positive (on India) in the longer term, however,” he said.
