Dear friends and well-wishers of Kampani Capital,

Greetings from the Holiday edition of the Monthly Newsletter! Yes – May is a month in India when everyone decides to take a summer break from the daily humdrum of their lives and escapes to cooler climes. May also reminds me of an adage in the markets which some of us have heard – Sell in May and Go away! Fortunately, the Indian Markets have decoupled from this theory and we saw FPI money coming in droves in the last few weeks.

Talking of international investors, I was pleasantly surprised to experience a very big sense of positivity towards India during my recent visit to Hong Kong (a vacation which got turned into a work-cation!). While China and India have always had a mixed relationship, my sense is that the recent tantrums from across the Atlantic have made some of the other large economies realise that economic ties need not focus on a uni-polar world and sometimes geography leads to economy. A lot of HK Fund Managers and Multi Family Offices that I met have started reallocating funds towards Indian Asset Classes – looking both at Private as well as Public Markets.

Closer home, Sowmya and me have seen some very interesting trends on the Real Estate side over the last 5-6 months, which is evidenced by the growing interactions we have with Real Estate Funds as well as Family Offices who are looking to invest in this Asset Class. Infact, the (real) action in Real Estate is coming in smaller towns like Coimbatore, Kochi, Jaipur, Baroda, Bhubaneshwar, Lucknow and the like. One of the big contributors to this has been the GCC boom. As per market reports, India has 1800 GCCs with the market expected to touch USD 100 Bio by 2030.

Before we end this newsletter, Sowmya and I would like to thank all our clients, partners and stakeholders who took out time to meet us in the last few weeks in Hong Kong, Delhi, Mumbai and Bangalore. We are also very happy to announce a new partnership with Zodiac Partners – a well reputed independent Wealth Manager and Full-Service Broker in London. This partnership further strengthens our network in the UK, allowing our clients deeper and wider access to products, services as well as asset allocators there. We continue to be guided by our vision of bringing the best of the world to India and taking the best of India to the world.

Amar Kampani

CEO and Founder,

Kampani Capital (a Division of Anak Consulting LLP)

31st May 2025