A $66 Billion Investment Manager Cuts Bets on Thai Power Firms
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A rally in the shares of Thai electricity generators may be outstripping their earnings outlook, according to Boston-based investment manager Grantham, Mayo, Van Otterloo & Co.
The firm has cut exposure to the sector, even as earnings potential and economic fundamentals underpin the overall Thai market, said Amit Bhartia, an emerging markets portfolio manager at GMO, which oversees about $66 billion of assets.