J.P. Morgan's Forey adds to India after 'dreadful' performance

J.P. Morgan's Austin Forey is upping his exposure to Indian equities despite admitting the region's poor performance had impacted the fund this year.

Forey, who runs the £1bn Emerging markets fund, said his overweight position in India had detracted from fund performance this year, but he continues to have confidence in the country. "We still like India, despite its dreadful performance this year, perhaps even because of it. We think it will be alright in the long run and we would like to add to our positions." The manager is 1% overweight and said stock selection within the market had a negtive impact on performance, with the likes of telecommunications company Bharti Airtel, which makes up 1.3% of the fund, returning  a loss of 2...