An update on global capital

A significant shift in international investment dynamics is underway

I had the opportunity recently to meet with asset allocators and money managers across the World. They run the most sophisticated pools of capital that operate on a very long-term basis, optimising risk-adjusted returns. We had a series of discussions on India, emerging markets (EMs), and their view of the world.

Here are some key takeaways:

1. In previous meetings, there were many allocators who had not given up on China. Many felt that China was experiencing a cyclical low in terms of both geopolitical and economic performance. A year ago, some investors were still looking for a long-term cheap