Summary：**Coronation Slashes TSMC, SK Hynix Holdings as $47B Fund Bets Big on India** *Coronation Fund Mana

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**Coronation Slashes TSMC, SK Hynix Holdings as $47B Fund Bets Big on India**
*Coronation Fund Managers, overseeing $47 billion, trims TSMC and SK Hynix positions while boosting Indian equities amid stretched AI valuations.*

### Introduction
South Africa‑based Coronation Fund Managers has announced a notable shift in its $47 billion portfolio, reducing exposure to two of the world’s largest semiconductor makers—Taiwan Semiconductor Manufacturing Company (TSMC) and SK Hynix—and increasing stakes in Indian equities. The move comes as the fund’s analysts flag concerns over lofty valuations in the artificial‑intelligence (AI) supply chain and see stronger growth prospects in India’s expanding tech and consumer sectors.

### Key Developments
According to the latest filing, Coronation cut its TSMC holding by roughly 12 % and trimmed its SK Hynix stake by about 9 %. Simultaneously, the fund added to positions in Indian IT services giants such as Infosys and Tata Consultancy Services, as well as consumer‑focused firms like Reliance Industries and HDFC Bank. The reallocation reflects a broader trend among global asset managers who are reassessing the risk‑reward balance of semiconductor exposure after a rally that pushed many chip stocks to historic highs.

### Industry Analysis
Semiconductor valuations have surged on the back of AI‑driven demand for advanced processors and memory chips. However, analysts warn that the sector may be entering a period of heightened volatility, with supply‑