Fund Manager of Rs 4.1 trillion is betting big on cyclical stocks in India

Shares some of the lenders, telecom, and utilities, are among the best alternatives to India's second-largest asset management, as it is betting that the economy is gradually becoming the worst thing that happens to the Covid-19 world. 


According to him, Sankaran Naren, chief investment officer at ICICI Prudential Asset Management Co., in India, because of compliance with any local restrictions are in place for a nationwide lockdown in the deadly second wave of the coronavirus, has recently had a significant impact on the level of economic activity, and this activity has been much lower. The company controls approximately 4.1 trillion rupees ($56.6 billion) of assets. 

A day in India, we have risen to an all-time high, even as it struggled with the worst of the effects of the health crisis, as investors continued to buy stocks on optimism for the long-term growth potential of the economy and the stimulation of the central bank. The Reserve Bank of India, this month, expanded its version of quantitative easing, said it expects a GDP increase rate of 9.5 percent in the prevailing fiscal year. 

However, the infection rate in India now. The daily new cases on Tuesday, over 100 000 in the first two months of the year, compared with a peak of more than 400 000 in May. 

The New Fund 

The attention of the cycle and the worth of the inventory has already been shown of the money the results at the manager. ICICI Prudential Opportunities Fund, which directly handles Naren, grew 36% year-on-year, faster than 96% of their peers, data compiled by Bloomberg show. At the end of April, the wireless operator, Bharti Airtel Ltd., the power generation company NTPC Ltd. Axis Bank Ltd. it had been on the fund's three most significant holdings. 


While investors need to have the pace of vaccine introduction in India and its recovery from the pandemic, Naren said, the most significant risk to local populations may occur when the global central banks take steps to scale back the program for the purchase.


The total value of all the shares sold in India recently for the first time-step, with over 3 trillion dollars, and his status is the eighth-largest stock market in the world. The benchmark S&P BSE Sensex is trading about 22-fold higher than that of the 12-month forecast-an estimate of the results compared with the five-year average, long, very 18.5 times, which Bloomberg has compiled. 

ICICI Prudential Asset Management is preparing to launch a "flex cap fund later this month, which Naren says will give him the freedom, the money, the investment of large, medium, and small-sized enterprises. This is the first year that the market is likely to remain volatile in the past.

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