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News Topical, Digital Desk : Chris Wood of Jefferies has made major changes to his GREED & Fear long-only equity portfolios. As part of these changes, investments in ICICI Bank have been removed from all portfolios. In his latest note shared on Wednesday, February 4, Chris Wood stated that investments in the international long-only portfolio will now be in Samsung Life Insurance instead of ICICI Bank.
ICICI Bank has also been completely removed from Greed & Fear's Asia ex-Japan long-only equity portfolio. Instead, it has invested in Eternal, the parent company of food delivery platform Zomato and quick commerce company Blinkit .
The weight of some other Indian stocks in the Asia ex-Japan portfolio has also been reduced. This includes DLF and GMR Airports. Investment in DLF has been completely removed, while investment in GMR Airports has been reduced. This change includes a new investment in Chinese company Zijin Mining.
Regarding global stocks, Chris Wood has removed his entire investment in MakeMyTrip from both the Global and International long-only portfolios. Instead, he has invested in mining company Anglo American.
Regarding stock performance, ICICI Bank shares are recovering after the recent sell-off and have reached their 52-week high (ICICI Bank Share Price) near Rs 1,500. Eternal shares have fallen more than 30% from their recent record high of Rs 368. Meanwhile, DLF shares have fallen nearly 15% in the past 12 months.
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