Investors pull $1.5b from GQG amid Adani allegations
GQG Partners’ risky bet on Indian conglomerate Adani caused investors to yank an estimated $US1 billion ($1.5 billion) from the asset giant last month, threatening to drag the short-term performance of its funds into negative territory, according to UBS.
Shares in the money manager plummeted 14 per cent to $2.02 on Monday after the broker downgraded the company to “neutral” and slashed its price target on the stock by 30 per cent to $2.30.
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