MANAGED $47 BILLION IN SOUTH AFRICAN FUND MANAGER TO REDUCE THE AI CHIP STOCK TO ADD THE INDIAN STOCK MARKET

The South African Asset Management Company, Inc., which manages $47 billion, has reduced investment in chip manufacturers and increased its market allocation in India, as market expectations for the AI concept unit have risen to levels that are almost impossible to exceed. The $3.1 billion Global Emerging Markets Fund of the South African Asset Management Corporation reduced the share of the combined holding of SK Hercules and power from about 8 per cent at the end of last December to about 5 per cent in the second quarter. (Pembo)