FPI return to India a question of when, not if: Amundi CIO Vincent Mortier

Europe's top asset manager says an impending US Fed rate pause, combined with India's superior debt and growth metrics, will inevitably drive global investors back to emerging markets.

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The rise in long-term US interest rates due to massive public borrowing and artificial intelligence (AI)-related expenditure could preclude the Fed from raising short-term rates further as the rise at the longer end of the yield curve is already impacting housing and rent markets, said Vincent Mortier, group CIO of France's Amundi, Europe's largest portfolio management firm. Amundi has €2.6 trillion in assets under management and is an investor in SBI Funds Management Ltd, India's largest asset management company.

About the Author

Ram Sahgal is a deputy editor at Mint. He has over 20 years of experience in journalism, with previous roles at The Intelligent Investor, Bombay Times, The Economic Times, and The New Indian Express. Between his media roles, he briefly worked at a commodities exchange before returning to his true passion, business journalism. Ram graduated in liberal arts from St Xavier’s College, Mumbai, where he studied films, which explains his move to Bombay Times, where he covered the film industry during the rise of Sunny Deol and Sanjay Dutt. He took a leap of faith to transfer to The Economic Times, and thanks to his restless mind, later moved to cover the commodities beat. Over the past three years, Ram has been tracking the stock markets at Mint. His focus areas include writing about market infrastructure institutions, brokerages, derivatives, and related regulations. His hobbies include spotting trains and understanding the locomotives that power them. In his free time, he takes his octogenarian mother out for drives and goes to the cinema with her on weekends. If he has a dream, it is to write a screenplay for a movie. For now, he enjoys viewing market data on NSE and BSE, observing the shifting mood of Mr Market, and conversing with market experts.

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