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Envestnet Asset Management Inc. cut its position in shares of Columbia India Consumer ETF (NYSEARCA:INCO) by 49.3% during the undefined quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,359 shares of the company's stock after selling 6,174 shares during the quarter. Envestnet Asset
The Columbia India Consumer ETF (INCO) offers US investors pure-play exposure to India's booming domestic consumer market, tracking top consumer-focused Indian stocks. INCO's portfolio is concentrated in high-growth sectors like autos, FMCG, and discretionary, reflecting India's expanding middle class and robust consumption trends. INCO has consistently outperformed the broader MSCI India Index, though it trades at a premium valuation due to its focus on quality, high-compounding companies.
India's economy grew at an annual rate of 7.8% in the quarter ending June, topping economists' expectations of 6.7% (Reuters poll), as quoted on CNBC.
India is in the midst of an accelerated monetary easing cycle. Fiscal stimulus and rapidly decelerating inflation add demand support. Plenty more legs to consumer-focused INCO's recent rally.
April was marked by trade tensions. Overall, the S&P 500 lost 1.8%, the Dow Jones retreated 3.7%, the Nasdaq Composite was off 0.9% and the Russell 2000 plunged about 4%, April.
Having shined through the last decade, INCO's consumer blue chips have sold off. Fundamentals have weakened but not to the extent reflected by recent price action. INCO could lead the way higher when the tide eventually turns.
After years of exceptional returns, INCO has finally pulled back. Near-term concerns are valid but do not derail the longer-term consumer thesis. With valuation multiples de-rated, INCO's concentrated portfolio is worth a look.
The outlook for India's stock market is divided. While some analysts foresee threats due to slowing growth and high valuations, others see strong fundamentals.
Recently, I mentioned India as one of the top themes this year. However, I wanted to go further in-depth into this thematic opportunity.
The Indian consumer is in a great place. Sector fundamentals are some of the world's best. INCO remains a great way to play the consumer theme.
Columbia India Consumer ETF INCO is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 42.25% from its 52-week low price of $52.35/share.
The compounding potential of India's consumer blue chips remains unmatched. Despite a mixed budget, more outperformance looks to be in the cards in 'Modi 3.0' Sector-focused INCO stands out as a vehicle to capture the upside.
Columbia India Consumer ETF INCO is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 37.84% from its 52-week low price of $50.22/share.
Indian stocks fell the most in over four years (per Reuters), as the vote counting is underway, with initial trends suggesting that the Modi-magic seems to be fading. The opposition INDIA gaining ground in the Lok Sabha elections over its 2019 tally, way higher than Street expectations.
India's stock market has been a standout performer in recent times on upbeat economic growth and election optimism.
The Columbia India Consumer ETF provides exposure to the consumer sector of the Indian economy, which is expected to experience significant growth. India's demographic trends, including urbanization and a large young workforce, are driving the growth of the consumer sector. INCO has a diversified portfolio of high-quality companies in the consumer staples and consumer discretionary sectors that is relatively diversified from a single stock perspective.
India's stock market has been a standout performer in recent times. The winning trend can continue in the coming months on the election hopes.
India's long-term growth prospects remain promising, due to favorable demographic trends and ongoing economic reforms, However, concerns over stretched valuations persist.
Emerging markets continued to expand at a solid pace midway into the first quarter of 2024, supported by broad-based expansion across both manufacturing and service sectors.