GQG adds more Nvidia, considers increasing exposure to Adani, says CIO

Jain said the asset manager is considering raising its exposure to Adani by participating in capital increases the group announced in May.

By Carolina Mandl

NEW YORK (Reuters) - A big buyer of Nvidia Corp's shares in the first quarter, Australia-listed investment firm GQG Partners, said it has continued to increase its exposure to the company since then and intends to buy more stocks of India's conglomerate Adani.

Fort Lauderdale, Florida-based GQG, which manages almost $100 billion in assets, added 8.2 million shares in Nvidia in the first quarter, worth $2.3 billion then, according to a regulatory filing. Since then, Chief Investment Officer Rajiv Jain said in an interview that GQG has "meaningfully increased" its position in Nvidia. The CIO declined to disclose the amount it further invested.

Jain also said the asset manager is considering raising its exposure to Adani by participating in capital increases the group announced in May.

 

(Reporting by Carolina Mandl, in New York)