Rajiv Jain, the founder of Florida-based GQG Partners, says he is backing Chinese state-owned enterprises over private entrepreneurs, as any sector which is too successful in China will “inevitably” be picked apart by regulators.Mr Jain will be addressing Australian investors via video link at the JANA Annual Conference on Thursday. The ASX-listed fund manager last month reported August funds under management hadagainst the wider industry trend of falling assets and profits.
in an interview. “You have to be in agreement with [the Chinese Communist Party when investing in China] ... don’t argue with them.” Mr Jain, who is a billionaire in his own right, is known as an India bull after making big bets on Adani despite attacks by short sellers and allegations of poor corporate governance. He repeated his support for the company despite recent“I wouldn’t want us to look in the rearview mirror ... [Adani’s] earnings growth is better than the Indian market,” he said. “These companies are gushing cash.”