 "File photo of Christopher Wood, global head of equity strategy at Jefferies")
Over the past few months, Christopher Wood, global head of equity strategy at Jefferies churned exposure to Indian stocks in his Asia ex-Japan portfolio for long-only absolute-return investors. The global investor bought SBI Life Insurance and HDFC Life Insurance, which now account for 5 per cent and 4 per cent weight in the above-mentioned portfolio.
The recent proposals came like a bolt from the blue for the life insurance companies when the Budget introduced an optional regime for personal income tax (I-T), which while lowering rates, took away most exemptions and deductions that individual taxpayers could avail. This, in turn,
