Ashburton picks battered India midcaps to ride global volatility

While India's benchmark S&P BSE Sensex gauge has hit multiple records since surpassing this year's peak in July, gains have been lopsided as investors sought protection in the biggest stocks

Indian stocks may be Asia's star performers this year, but Ashburton Investments is focusing on one corner of the $2.2 trillion market that has been spared the euphoria: mid-cap shares.

Mid-sized companies whose earnings are tied to the local economy offer better protection against the headwinds from a trade war and the turmoil in Turkey. They are also beginning to look attractive after the recent battering, according to the fund that oversees $10 billion in global assets.

“We remain domestically focused,” Jonathan Schiessl, the fund's chief investment officer wrote in an email. “In an environment of increasing global uncertainty, I am not