ETMarkets AIF Talk: Fund manager with Rs 225-cr AUM identifies 4 investment trends for next 5-10 years
«On a bottom-up basis, we run screeners based on operating cash flows, balance sheet strengths and latent capacity in companies,” says Aniruddha Naha, CIO, Alternatives, PGIM India AMC.
In an interview with ETMarkets, Naha who has over 22 years of industry experience in the equity and debt market and manages Rs 225 cr in AUM, said: “The philosophy is to buy good businesses with a consistent track record of cash flow and balance sheet at reasonable valuation,” Edited excerpts:
Please take us through your investment philosophy.
Aniruddha Naha: Our philosophy stems from clearly defining 'what we will not do' in the investment process.
Unlock Leadership Excellence with a Range of CXO Courses
Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Technology OfficerVisitIIM KozhikodeIIMK Chief Product Officer ProgrammeVisitIIM LucknowIIML Chief Executive Officer ProgrammeVisitOther than exceptional cases, we avoid IPOs and companies with inconsistent operating cashflows.
The philosophy is to buy good businesses with a consistent track record of cash flow and balance sheet at reasonable valuation.
Our focus is on:
ETMarkets Smart Talk: Money will flow into companies which are redeploying cash with efficiency in FY25: Kenneth Andrade
• Historical strong cashflow generation
• Clean balance sheets
• Promoter/management's interests aligned to minority shareholders
What is your stock-picking strategy?
Aniruddha Naha: Given the positive outlook on the Indian economy, we have identified four
