India’s biggest equity fund makes contrarian bet on IT stocks (opens original article in a new tab)

India's largest equity fund is increasing exposure to IT stocks despite concerns about AI's impact on outsourcing, with the fund's CIO arguing that IT firms will benefit from productivity gains. The fund has reduced debt holdings and increased core equity investments.

• India's largest equity fund increased IT stock exposure despite market pessimism about AI's impact on outsourcing
• Fund's CIO believes IT firms will benefit from AI-driven productivity gains and cost savings
• Fund reduced debt holdings to 14.03% as of May, increasing core equity investments to 70%