LTCG tax unlikely to derail India story: Jonathan Schiessl

In an interview with CNBC-TV18, Jonathan Schiessl of Ashburton shared his views and reading on the volatile times that we are seeing across global markets.

The speed with which the volatility hits and the size that we are seeing is something we will have to get used to, he said.

There used to be a clear relationship between rising bond yields and falling equities, that relationship had broken down and certainly it is reasserting itself, he added.

According to him, the global economy is doing well.

Speaking about long-term capital gains (LTCG) tax, he mentioned that there is some confusion about how LTCG tax will work and clearly we are in that phase at the moment where there is some unanswered questions.

10 percent LTCG tax on a market like India over the long-term is something new we have to figure in but is it going to derail the India story? To our minds, no, said Schiessl.

For full interview, watch accompanying video...