The stock closed 19.32% lower on Thursday, the investment firm's steepest one-day fall since its listing on Oct. 2021.
GQG Partners' shares fell as much as 25% on Thursday after Adani Group chair Gautam Adani was charged in New York.
Rajiv Jain, chairman and chief investment officer at GQG Partners, told CNBC in January this year that his profits on Adani stood at about $4 billion, but he was likely done investing in the group. The investment firm also pointed out that its portfolios have "diversified investments," saying that over 90% of clients assets are invested in issuers unrelated to the Adani Group.
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