Man Group's discretionary investments unit Man GLG, has gone "underweight" on China after cutting holdings there since January, and pursuing investment opportunities in India and artificial intelligence instead, according to a report by Reuters citing a senior Man GLG fund manager.

Man Group's discretionary investments unit Man GLG, has gone "underweight" on China after cutting holdings there since January, and pursuing investment opportunities in India and artificial intelligence instead, according to a report by Reuters citing a senior Man GLG fund manager.

The report quotes Man GLG's head of Asia equities excluding Japan, Andrew Swan, as saying in a telephone interview last week that China's fading post-pandemic recovery prospects mean the company is having difficulty finding long-term, high-growth China stocks worth investing in.

India, meanwhile, "surprises positively" according to Swan. 

As a result, Man GLG, which has $26 billion in assets under management, has increased its exposure to India and Southeast Asia in its Asia ex-Japan book.

The company has also been surprised by recent explosive development of artificial intelligence, and is now adding Taiwan semiconductors to ensure it is better positioned for "the AI revolution".