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Q: If you were running money in India and you were sitting on profits today, would you stay invested, stay the course because of its superior fundamentals or would you take money off tactically for the moment?
A: Yes, we have recently advised people for the first time in five years to take some profits off India, purely because the market has done so well. We are worried about global sentiment more than anything certainly not worried about the structure of Indian economy, of the trajectory of the Indian economy, but sometimes it is worthwhile taking the money off the table.
Having said that, it is very difficult for me to be suggesting to people on a structural basis they should be underweight India, I think that is completely wrong. We should be overweight India. It is just that tactical, cyclical move at the moment.
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