GQG Partners' Steadfast Support Amid Adani Controversy

Boutique investment firm GQG Partners has expressed confidence in the Adani group despite recent bribery allegations against its promoters. GQG believes the charges target individuals and not the firms themselves, maintaining optimism about its Adani investments due to sound fundamentals and earnings growth.

Amid allegations of bribery against the Adani group's promoters, boutique investment firm GQG Partners reaffirms its confidence in the Indian conglomerate. The indictment, according to GQG, targets individuals, not the companies.

In a memo, GQG highlighted its belief in the strong fundamentals and independent management of the Adani companies it is invested in. The firm's exposure to the Adani group stands at USD 8.1 billion, a strategic move it considers manageable despite potential stock volatility.

GQG emphasized ongoing research and vigilance toward its holdings, asserting that Indian regulators' comprehensive review post-Hindenburg allegations leaves room for optimism. Adani group has denied all allegations, branding them as baseless.

(With inputs from agencies.)