Desperate to make a comeback after the front-running scandal, the fund house is attempting to change its investment strategy. But its chief business officer won’t be part of the journey.
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A week after highlighting the fund house and its CEO’s desperate moves, we uncover a whole different level of risk—an inordinately high exposure to stocks that could prove hard to exit in a pinch.
Mounting concentration risk has forced the fund house to change tack yet again. While shifting focus to small-cap stocks from defensive ones could somewhat help, such frequent switches are less than ideal.
The CEO of the financial services business of the Aditya Birla Group has little to show for her near three years at the helm. That her digital push has turned out to be a dud only makes it worse.