Add diversified multi-cap and flexi-cap funds over next 3-5 years: Anthony Heredia

economictimes.indiatimes.com:

«From a longer term perspective I think there is a larger degree of comfort. So for investors like us who tend to think in terms of three and five years when we look at buying a stock we find enough opportunities where valuation is not really a concern,» says Anthony Heredia, MD & CEO, Mahindra Manulife Investment Management.Let me start our discussion with the broad view on the market because market seems to be getting pretty divided on where the valuations are right now. What phase of the market cycle are we right now, some are saying mildly profit, others are saying long way to go, where do you stand on valuations?I think our view would be that it is a long way to go if you have a long time frame in mind right.

I think if you have a shorter time frame then certainly I think valuations will worry you. But even there I think you know it is not a one dimensional call.

Markets on an overall basis obviously are a lot more expensive than they were let us say three or six months ago but there are lots of pockets in the market that we still think there is value in. But from a longer term perspective I think there is a larger degree of comfort.