Here are the recent changes to Chris Wood's model India and Asia ex-Japan portfolios

Shares of Godrej Properties have declined 30 percent this year while those of Macrotech are down 20 percent. Both the stocks have underperformed the Nifty Realty index, which is down 6.5 percent this year.

Another change to the Asia ex-Japan portfolio pertains to Bajaj Finance, which will be reduced by one percentage point. Shares of the non-bank lender may have declined 7 percent so far this year, but have recovered nearly 30 percent from their 52-week low in May this year.

Within the India long-only portfolio, Chris Wood has decided to cut down on the position in Bajaj Finance by two percentage points. Those two percentage points will be given to India's largest lender - State Bank of India, which has seen consensus upgrades and price target revisions from brokerages post its September quarter results.

Shares of State Bank of India are up nearly 30 percent this year.

Godrej Properties will also see a cut within the India portfolio by one percentage point. Macrotech also finds place in the India portfolio with weightage increasing by two percentage points.

Another real estate play that finds mention in the India long-only portfolio is DLF, where investment will increase by one percentage point. Shares of DLF have not done much this year, gaining only 4 percent, but have outperformed the realty index.

Wood has also decided to cut down on the investment position in Century Textiles by one percentage point. Shares of the textile and paper manufacturing company have declined close to 13 percent so far year-to-date.

Among other changes to the India portfolio, the investment in Jubilant Foodworks will be completely removed and replaced by one in Adani Ports, which will command a 4 percent weightage. Shares of Jubilant Foodworks are down over 25 percent this year. On the other hand, Adani Ports has gained 20 percent so far on a year-to-date basis.