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GQG's Rajiv Jain Defends Tech Pivot After Fund Falls 10% in October
Rajiv Jain defends GQG's shift to tech stocks after its US equity fund fell 10% in October.
Key points
- Jain once called AI stocks 'the dot com boom on steroids' while he was an outspoken sceptic.
- GQG's US$11.9 billion ($17 billion) US equity fund fell 10% last month after his mid-year pivot.
- The ASX-listed asset manager is described as having $213 billion in scale.
Why it matters. The article says Jain's earlier AI scepticism cost GQG performance and assets under management, a point that frames the firm's recent 10% fund loss.
GQG Partners chief investment officer Rajiv Jain is defending a mid-year shift from AI bear to bull that sent the firm's US$11.9 billion ($17 billion) US equity fund down 10% last month. The ASX-listed asset manager oversees $213 billion, and Jain once branded AI stocks 'the dot com boom on steroids'. The article says his earlier scepticism had cost the firm performance and assets under management.
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GQG's Rajiv Jain Defends Tech Pivot After Fund Falls 10% in October
GQG Partners chief investment officer Rajiv Jain says he stands by his decision to turn bullish on technology stocks, despite a difficult few weeks for the artificial intelligence trade. Jain was once an outspoken sceptic of Wall Street's AI enthusiasm, and his mid-year pivot has coincided with a 10 per cent fall last month in GQG's US$11.9 billion ($17 billion) US equity fund. He told the Australian Financial Review that his enthusiasm for tech stocks has not changed. GQG is an ASX-listed asset manager with about $213 billion under management. Investors will be watching whether the fund recovers as the AI sell-off continues.