Know Your Fund Manager: Harshad Patwardhan, CIO, Union AMC
I have a B.Tech. from IIT, Bombay, an MBA from IIM, Lucknow, and a CFA charter from the CFA Institute. My wife, a PhD from IIT, Bombay, is an educational consultant, and my daughter, who graduated from NLS, Bangalore, is an advocate. I was born and raised in Mumbai.
How did you land up in this job?
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View Details» <div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-111728477»>For the first 12 years of my 30-year career, I was a rated sell-side analyst at various foreign brokerages. Hands-on equity research and marketing to experienced FII investors prepared me well for my buy-side career.
In 2006, I joined JPMorgan India AMC as its CIO-Equities and was also part of its offshore team. I learned a lot from senior JPM colleagues worldwide who had long experience navigating the market cycles. Over the years, I built on those learnings through my own experience and experimentation. I joined Union AMC last year as its Chief Investment Officer.
What is your investment philosophy and how will you describe your investment strategy?
Over the long term, stock price tends to follow fair business value. However, it is also critical to realize that the long term is a series of short terms. This insight helps recognize that everything goes through phases and answers one of the most consequential questions in investing: ‘Where are we in the cycle?’ The research approach and portfolio positioning follow.
Another essential ingredient is to think probabilistically, considering that ‘more things might
