US asset manager PineBridge Investments is using India’s recent market selloff to start buying stocks for its multi-asset portfolios, wagering that explosive corporate governance allegations against the Adani conglomerate won’t derail a growth and manufacturing boom.
While short-seller Hindenburg Research’s January 24 report about the business empire of tycoon Gautam Adani has been one reason why investors have pulled billions of dollars out of Indian markets, Michael Kelly, who oversees Pinebridge’s $17.8 billion global multi-asset portfolios, is among those going the other way.
