GREED & fear’s India equity portfolio, as assessed in the quarterly review by Christopher Wood of Jefferies, has consistently outperformed the benchmark Nifty50 and the MSCI India index since its inception. Notably, these portfolios have not held any cash positions since their inception.
Impressive Gains
GREED & fear’s India long-only portfolio, launched on July 1, 2021, recorded a substantial 13.3% gain in dollar terms in the last quarter (July-September) on a total return basis. This performance significantly outpaced the 2.9% gain in the MSCI India benchmark. On a year-to-date basis, the portfolio gained 26.5%, compared to an 8.3% gain in the benchmark. Since its inception, it has surged by 32.1%, outperforming both the MSCI India Index and the Nifty50.
Positive Long-Term Performance
Jefferies notes that its Asia (ex-Japan) thematic portfolio’s long-term performance has been satisfactory. Since its inception at the end of Q3 2002, it has risen by 2,804% in dollar terms on a total return basis. This translates to an annualized growth rate of 17.4%. In comparison, the MSCI AC Asia (ex-Japan) Index and the S&P500 have grown at an annualized rate of 9% and 10.4%, respectively.
Global Portfolio Introduction
A global long-only portfolio was introduced earlier this year, with a significant allocation to Asia-Pacific and India. While it initially faced some challenges, it has shown relative strength in the past two quarters, performing better than the MSCI AC World index.
Portfolio Composition
GREED & fear’s India portfolio primarily focuses on India’s long-term domestic demand story, with 49% of its investments in India. It also holds significant exposures to China, Taiwan, Korean technology, and energy, resources, and gold.
Global Portfolio
The global portfolio has a notable 68% allocation to Asia-Pacific, with a substantial 26% exposure to India.
