A $677 billion fund manager spots buy opportunity amid India sell-off

Aberdeen Standard Investments Ltd manages $676.8 billion as of end-March, globally

Unfazed by a stock market sell-off that wiped $34 billion from India’s benchmark equity index and unabating jitters in the nation’s credit market, Aberdeen Standard Investments Ltd is looking to adding to its India equity holdings.

Short-term volatility is “an opportunity to build positions in quality companies whose share prices have been indiscriminately dragged down,” said Kristy Fong, Asian equity investment director at the asset manager. “We favor those with pricing power, well-placed to ride on India’s long-term consumption trend.”

A tax proposed earlier this month on India’s super-rich, which many overseas investors may struggle to sidestep, triggered the sharpest weekly loss