Shashi Tharoor Picks Global Equities Over Domestic Stocks
Shashi Tharoor, the leader of the Indian National Congress, prefers investing in overseas equities over domestic companies, while having a little attachment to the yet-to-be-regulated Bitcoin ETF.
Tharoor's investment in domestic equity stands at about Rs 1.72 crore, which is just 18% of his investment in overseas equity, which stands at Rs 9.33 crore, according to an affidavit that was filed during his nomination for the Lok Sabha polls.
In another notable trend, the Thiruvananthapuram MP has parked his investments in 23 mutual funds totalling about Rs 1.72 crore. Among his mutual fund investments, five schemes are in Franklin Mutual Fund, four schemes from HDFC AMC, and three in ICICI AMC.
Through his mutual fund investments, Tharoor looks to be on a tax-saving spree, with about seven tax-saver schemes spread across mutual funds, summing about Rs 26.48 lakh.
Further, a huge portion of his investments are skewed towards bank deposits. The public intellectual has his money parked in about 21 bank deposits totalling Rs 10.08 crore.
He has also invested about Rs 5.11 lakh in a Bitcoin exchange-traded fund. In another big investment, his investments in the US Treasury's stand at Rs 2.02 crore.
In corporate bonds and certificates of deposit, he as invested a total of Rs 4.38 crore, according to the affidavit.
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