Jefferies’ Chris Wood Bullish On HDFC Bank, Will Cut Stake In These 4 Indian Stocks In Asia Long Portfolio

Global investment firm Jefferies has announced a series of strategic adjustments to its long-only equity portfolios across Asia and global markets, excluding Japan. The changes hint a rebalancing of key holdings as the firm positions for the year ahead.  

In its Asia ex-Japan portfolio, Jefferies will reintroduce a 4 per cent weighting in HDFC Bank Ltd. 

In the brokerage note Global Head of Equity Strategy at Jefferies wrote, “An investment in HDFC Bank will be reintroduced in the Asia ex-Japan long-only portfolio with a 4 per cent weighting. This will be paid for by reducing the investments in Macrotech Developers, Larsen & Toubro, ICICI Bank and Axis Bank by one percentage point each.” 

Siemens Ltd. will also be added to this portfolio with a 4 per cent weighting, achieved by removing Samsung Electronics Pref and trimming the stake in SK Hynix by one percentage point.  

Global Readjustments 

For its global equity portfolio, Jefferies will replace its investment in Samsung Electronics Pref with French power equipment manufacturer Schneider Electric SE, marking a diversification into the power sector.  

Bullish On Siemens

In its India long-only portfolio, the firm plans to introduce Siemens Ltd. with a 4 per cent weighting, funded by removing AU Small Finance Bank Ltd. Additionally, the investment in HDFC Bank will increase by one percentage point, balanced by a reduction in the stake in Axis Bank.  

Adjustments are also planned for the China long-only portfolio. Jefferies will increase its investments in Alibaba Group Holding Ltd. and AIA Group Ltd. by one percentage point each. These additions will be funded by reducing stakes in Sun Hung Kai Properties Ltd. and KE Holdings Inc.  

Jefferies has decided to leave its Japan long-only equity portfolio unchanged.