A View from Asia

The case for owning certain financials in a post Covid-19 world.

  • Samir Mehta
09 Nov 2020
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View PDF   Download PDF  
  • On the whole, banks and non-banking financial companies are, in our opinion, a poor investment in a post-Covid-19 world.
  • We have, however, built a large position in our portfolio in a credit card company in India – SBI Cards (SBIC).
  • In this note, we discuss  why we think SBIC might be an exception to the current trend of upheaval in payments.


Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. The Fund’s investments may include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation.

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