Indian market is not a bubble, says Glen Baptist

Interview with the CEO and chief investment officer of US-based Pramerica International Investments

Glen Baptist, chief executive officer and chief investment officer of US-based Pramerica International Investments who manages $79 billion of assets, says despite the steep rise in the valuations of Indian shares, there is no bubble in the Indian markets. In an interview with Pavan Burugula, however, he cautions fund managers not to concentrate their portfolios with top outperformers. Edited excerpts:

What is your outlook on the Indian markets? 

We are positive about Indian markets. In equities, the market remains very attractive with positive earnings and good flows from institutional investors. On the economy front, there is stability and also