Don’t want to diversify in too many funds? Multi-cap is for you: Shreyas Devalkar

economictimes.indiatimes.com:

Shreyas Devalkar, Head-Equity, Axis MF, says All these categories – large, mid and small – are complementary to each other. They are not either or.

The largecap is more about consumption, mid and smallcap is more about manufacturing stories of India and investment story of India. These all are complementary and that gets reflected more in multi-caps as a category because here one has to have 25, 25, 25 in large, mid, small.

This category represents the exposure individually to all elements of the India growth story and not just tilted towards consumption in case of largecap category or towards mid and smallcap category which are more in investment and exports.Let's begin with the current market movement since last week where we have seen the market moving in a very range-bound territory. What according to you could be the triggers behind the trajectory going ahead and also will this pace continue?If we look at market from a long-term perspective, when the post-Covid rally started especially, it went one-way till somewhere around October of 21 and after that it consolidated a lot and then from the peaks of October 21 to Jan 22 we are somewhere around 8% to 10% up.

Why I am just bringing in this perspective is when we use words like rally, the point is that the market has consolidated a lot in the last one, one-and-a-half year and then in the last few months the rally we have seen. has yielded additional 8-10% return at the indices levels from the peak of October 21 to Jan 22.