Rajiv Jain, one of the biggest names in emerging-market investing, cut across the grain last month when he bought almost $2 billion worth of Adani Group stock.
Now, the chief investment officer of GQG Partners Inc. has grand predictions for his bet on the embattled Indian conglomerate: a return in excess of 100 per cent.
“These could be multibaggers” over five years, Jain said in an interview at Bloomberg’s New York headquarters. The term comes from mutual fund manager Peter Lynch’s book and describes an investment that could at least double.
