Rajiv Jain Update: On January 24, 2023, the shares of the group have seen their worst phase since the report against the stocks of Adani Group of short seller Hindenberg Research came out. Some stocks fell even by 85 percent. But for the Adani group, Rajiv Jain, co-founder and chairman of GQG Partners, has proved to be Hanuman, who has given life to the group by buying shares of four Adani group companies for Rs 15,446 crore. Has Rajiv Jain bought shares of Adani group companies? Investors’ confidence in the group’s stocks has started returning again and all the stocks in the Adani portfolio have rocketed.
Who is Rajeev Jain
Rajeev Jain is the Chairman and Chief Investment Officer of GQG Partners and he drives GQG’s investment strategy. Prior to this, he was the Chief Investment Officer and Head of Equities at Vontobel Asset Management. He started in 1994 as a portfolio manager. In just seven years, Rajeev Jain has built GQG into a $92 billion investment powerhouse. Hardly any other startup would have raised funds as quickly as Kamal Rajeev Jain has done in such a short span of time.
Rajeev Jain told the Australian Financial Review that the Adani group has excellent assets which are available at very attractive valuations. For the last five years, he was keeping an eye on the stocks of Adani Group, but then he found the valuation of the group’s shares expensive. Rajeev Jain is hopeful that his investment will prove to be correct. He said that 25 percent of India’s air traffic passes through Adani’s airport, and Adani’s ports account for 25 to 40 percent of the cargo volume.
In 2022, when the market was falling on its face, all the asset managers were worried about the losses. GQG Partners also made a lot of money during this period. The company raised $8 billion in investments and three out of four of its flagship funds have given returns that have outperformed the benchmark index. Rajeev Jain mostly likes to invest in Oil, Tobacco and Banking sector.
Born in India, Rajeev Jain moved to the US in 1990 to pursue an MBA from the University of Miami, USA. In 1994, he joined VonTobel. In 2002, he had become the Chief Investment Manager of this Swiss company. In March 2016, he started GQG. Under his watch, the VonTobel Emerging Markets Fund delivered 70 per cent returns in 10 years, which is double that of MSCI’s Emerging Markets Fund. Rajeev Jain has the largest stake in GQG. In 2021, GQG raised $ 893 million through an IPO in Australia.
Rajeev Jain’s investment boosts shares of Adani Group
On Thursday evening, Adani Group informed that Rajeev Jain’s GQG has bought shares of four companies for Rs 15,446 crore. The block deal was noticed by the market on Thursday itself, although the name was revealed in the evening. But in the last two days, there has been a tremendous growth in the shares of Adani Group.
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