Vincent Mortier says AI hype may push investors toward India
Business
Vincent Mortier, deputy CEO and global CIO at Amundi, feels the hype around artificial intelligence (AI) stocks might be a bit much right now.
He thinks this could push investors to look at other opportunities, especially India, which he believes is flying under the radar despite its good growth, sound finances and valuations that are no longer expensive.
Amundi increases India and China exposure
Mortier points out that India's strong economic fundamentals make it stand out, even with global uncertainties.
Amundi has already put 8%-10% of its portfolio into both India and China, more than usual, and Mortier himself has invested about 10% of his equity money in a Nifty-linked ETF.
He also hopes to see India get more recognition in global investment indices.