Adani Group raises Rs 15,446 crore through share sale, but it’s the buyer, Rajiv Jain, who’s making headlines. Jain is the Chairman and Chief Investment Officer of GQG Partners, a company he founded in 2016 that manages over $88 billion in assets. He’s known for his expertise in identifying bargain buys in equities and has been recognized as the Morningstar Fund Manager of the Year multiple times.
Jain, who has a majority stake in GQG, invests most of his personal wealth in its funds. His investment approach, called Forward Looking Quality, focuses on investing in companies that he believes will be successful over the next five years and beyond. This philosophy likely explains why he’s invested in large-cap stocks like ITC, HDFC, RIL, ICICI Bank, SBI, Sun Pharma, Infosys, and Bharti Airtel.
Jain’s international fund typically invests in 40-50 large-cap stocks, compared to the benchmark’s more than 2,000 companies. His US fund holds less than 30 stocks, compared with over 500 in the S&P index. Two of the international fund’s top 10 holdings are tobacco companies, British American Tobacco and Philip Morris International, which account for almost 10 percent of the portfolio.
GQG’s success has been recognized with several awards, including the Morningstar Fund Manager of the Year (Global Equities) for 2023. When GQG went public in Australia in 2021, it raised about $893 million in the country’s largest IPO that year, with Jain pledging to invest 95 percent of the proceeds in the company and keep the money there for seven years.
About Adani Group:
Adani Group is an Indian multinational conglomerate, headquartered in Ahmedabad. It was founded by Gautam Adani in 1988 as a commodity trading business, with the flagship company Adani Enterprises.
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