Global economic slowdown may not significantly impact India, says Amitabh Mohanty of JM Financial Mutual Fund
Amitabh Mohanty, MD and CEO of JM Financial Mutual Fund believes India is on a multi-decade growth path and the impact of global economic slowdown could be limited on the country. In an interview with Mint, Mohanty shared his views on markets, the economy and the sectors he finds promising. The process of investment remains the same for most investors. Disciplined asset allocation after proper analysis of risk appetite and time horizon of investment, could deliver results.
India remains stock pickers' delight. The sound analysis will always throw up good stock ideas, irrespective of the global or domestic macro. There may be some hiccups in the interim, but the India story, as it pans out over the next two to three decades, might surprise everyone positively.
However, investors have to factor in uncertainty and volatility in the markets and should be prepared to hold positions across tough market periods, through appropriate sizing and exposure. We believe it is always difficult to call the beginning or end of market cycles. We look at outcomes from a probabilistic perspective.
Today we are in a very unique situation, because the domestic macros look quite promising, but there are headwinds from global macros. We are extremely cognizant of the macro risks developing globally because of various factors and preparing our portfolios for that. We do not specifically call the markets a bull or bear to orient our portfolios.
As a process, we continuously evaluate our portfolios and subject our exposures to the value and margin of safety tests. Our endeavour is to try and discover pockets of value based on our models and orient our portfolios accordingly. Poor monsoons and rising crude prices, definitely create headwinds for
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