Canadian PM Mark Carney criticized Washington's restriction on Anthropic's AI models, calling it a "wake-up call" for diversification. The US government banned foreign nationals from accessing Anthropic's advanced Fable 5 and Mythos 5 AI systems, citing national security concerns, prompting Carney to emphasize the risks of depending on a few US providers.
Wealth managers at the ET Alpha Wealth Summit stressed deliberate global diversification for Indian investors, warning against reactions to recent market underperformance. Experts highlighted India's small share of global market cap and the rupee's depreciation as structural reasons for international allocation, cautioning against common pitfalls like treating the US as a proxy for the world or panic-selling.
At the ET Alpha Wealth Summit in Mumbai, wealth managers confirmed that global diversification is now a mainstream topic for Indian high-net-worth individuals. While global allocation offers opportunities, experts stressed the importance of a strong domestic asset allocation strategy first, cautioning against knee-jerk reactions to market performance.
