GQG's Adani Exposure Will Be Viewed as a Mistake -- Market Talk

Dow Jones

Nov 25, 2024

2321 GMT - GQG Partners' exposure to Adani Group will likely play out over the medium-to-long term as an investment mistake, Morgans analyst Scott Murdoch reckons. He sees the initial direct impact on funds under management and earnings as negligible, but warns the recent underperformance of GQG's emerging markets fund will be exacerbated by its holdings in the troubled Indian conglomerate. He tells clients in a note there is a risk of short-term reputational damage from the Adani exposure, but sees GQG well placed over the longer term to benefit from improving markets. Morgans cuts its target price by 20% to A$2.47 and lowers its recommendation to hold from add. Shares are up 0.5% at A$2.22. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

November 24, 2024 18:21 ET (23:21 GMT)

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He sees the initial direct impact on funds under management and earnings as negligible, but warns the recent underperformance of GQG's emerging markets fund will be exacerbated by its holdings in the troubled Indian conglomerate. He tells clients in a note there is a risk of short-term reputational damage from the Adani exposure, but sees GQG well placed over the longer term to benefit from improving markets. Morgans cuts its target price by 20% to A$2.47 and lowers its recommendation to hold from add. Shares are up 0.5% at A$2.22. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 24, 2024 18:21 ET (23:21 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GQG's Adani Exposure Will Be Viewed as a Mistake -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGQG's Adani Exposure Will Be Viewed as a Mistake -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-25 07:21</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2321 GMT - GQG Partners' exposure to Adani Group will likely play out over the medium-to-long term as an investment mistake, Morgans analyst Scott Murdoch reckons. He sees the initial direct impact on funds under management and earnings as negligible, but warns the recent underperformance of GQG's emerging markets fund will be exacerbated by its holdings in the troubled Indian conglomerate. He tells clients in a note there is a risk of short-term reputational damage from the Adani exposure, but sees GQG well placed over the longer term to benefit from improving markets. Morgans cuts its target price by 20% to A$2.47 and lowers its recommendation to hold from add. Shares are up 0.5% at A$2.22. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 24, 2024 18:21 ET (23:21 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7062","symbol_name":"资产管理与托管银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2486017717","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486017717","pubTimestamp":1732490460,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2321 GMT - GQG Partners' exposure to Adani Group will likely play out over the medium-to-long term as an investment mistake, Morgans analyst Scott Murdoch reckons. He sees the initial direct impact on funds under management and earnings as negligible, but warns the recent underperformance of GQG's emerging markets fund will be exacerbated by its holdings in the troubled Indian conglomerate. He tells clients in a note there is a risk of short-term reputational damage from the Adani exposure, but sees GQG well placed over the longer term to benefit from improving markets. Morgans cuts its target price by 20% to A$2.47 and lowers its recommendation to hold from add. Shares are up 0.5% at A$2.22. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7062":"资产管理与托管银行","GQG.AU":"GQG Partners Inc"},"translate_title":"GQG对阿达尼的投资将被视为一个错误——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GQG.AU":0.9},"content_text":"2321 GMT - GQG Partners' exposure to Adani Group will likely play out over the medium-to-long term as an investment mistake, Morgans analyst Scott Murdoch reckons. He sees the initial direct impact on funds under management and earnings as negligible, but warns the recent underperformance of GQG's emerging markets fund will be exacerbated by its holdings in the troubled Indian conglomerate. He tells clients in a note there is a risk of short-term reputational damage from the Adani exposure, but sees GQG well placed over the longer term to benefit from improving markets. Morgans cuts its target price by 20% to A$2.47 and lowers its recommendation to hold from add. Shares are up 0.5% at A$2.22. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 24, 2024 18:21 ET (23:21 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}