Growth prospects prompt Gush to up India exposure

Baillie Gifford's Mike Gush has increased exposure to India in the £119m Pacific Horizon investment trust after becoming bullish on the country's economic growth prospects.

Gush boosted allocation India over the past six months on the belief domestic demand in the country will remain strong for some time. “Over the period we have allocated more money to businesses located there. Despite a bad monsoon affecting agricultural production, economic growth has been remarkably strong with industrial activity picking up,” he says. “Rural consumption remains very strong and we believe this will be a key driver of economic activity in the years ahead.” While more then 40% of the fund is weighted towards China and Hong Kong, Gush is growing increasingly confiden...