Synopsis
The DBS Bank CIO finds Indian equities expensive on the valuations front, and has taken only selective exposure to the country with a focus on sectors that are in line with the structural growth themes such as digitalisation, Millennial spending trends and healthcare.
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MUMBAI: Despite $23 billion in inflows to Indian equity market from foreign portfolio investors in 2020, Singapore-based DBS Bank’s Chief Investment Officer Hou Wey Fook believes this is only just the beginning.
“With the improvement in risk appetite for ASEAN assets, we can expect a powerful cycle of bond flows, driving the currency and equity gains. Yield spreads are attractive and ASEAN assets are under-owned,” Hou told ETMarkets.com in an interview.