Beating 96% of peers, this fund has a bullish stance on hospital stocks
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India’s hospital stocks are set to benefit from the expected growth in healthcare spending, according to one of the country’s top-performing funds. The country will witness a rapid acceleration in the number of people reaching retirement age in the next two decades, Satish Ramanathan, chief investment officer for equities at JM Financial Asset Management Ltd., said in an interview. “People will spend on healthcare at an unprecedented rate.” Prime Minister Narendra Modi’s government recently approved expanding a free health-insurance plan for all citizens aged 70 and above. The plan may prompt some regional governments to introduce similar measures, providing a boost to the sector, according to Ramanathan, who oversees more than $1 billion. Bloomberg Some of the biggest players in the industry — Max Healthcare Institute Ltd. and Apollo Hospitals Enterprise Ltd. have gained 43% and 26%, respectively, in 2024. The momentum will likely contin...