GQG sheds $10b as pivot back to tech stocks disrupted by Iran war

GQG Partners shed more than $10 billion in funds last month after chief investment officer Rajiv Jain’s surprising pivot to chip stocks, having long warned that tech companies had created a bubble even bigger than the dotcom bust, was torpedoed by renewed tensions in the Middle East.

The fund manager’s total asset pool has now plunged by $US23.7 billion ($33 billion), or nearly 14 per cent, from its peak of $US172.9 billion on the eve of the war between Iran and the United States in late February.

Loading…