Tepid earnings growth in the September 2024-25 quarter, amid sticky inflation, withdrawals by foreign investors, and global headwinds, has diminished the appeal of Indian markets. Andrew Holland, chief executive officer at Avendus Capital Public Markets Alternate Strategies, tells Puneet Wadhwa in a telephonic conversation that flows — especially passive — will favour the US and developed markets over emerging markets (EMs). Edited excerpts:
It has been a slow grind for the markets, continuing their downward spiral. Do you expect this tepid mood to carry into 2025 as well?
With foreign portfolio investors (FPIs) typically winding down in December, we may