PineBridge looks past Adani Group saga to load up on stocks in India

The stock meltdown offered an entry point into what's historically an expensive market, according to Kelly, who also sits on PineBridge's management committee

US asset manager PineBridge Investments is using India’s recent market selloff to start buying stocks for its multi-asset portfolios, wagering that explosive corporate governance allegations against the Adani conglomerate won’t derail a growth and manufacturing boom.
 

While short-seller Hindenburg Research’s Jan. 24 report about the business empire of tycoon Gautam Adani has been one reason why investors have pulled billions of dollars out of Indian markets, Michael Kelly, who oversees Pinebridge’s $17.8 billion global multi-asset portfolios, is among those going the other way.

The stock meltdown offered an entry point into what’s historically an expensive market, according to Kelly, who