Why Mirae’s Swarup Mohanty has ₹4 crore health cover for his family
₹25 lakh of my savings just going for my father’s medical expenditure. After this, I have tried to take as much medical insurance as I can, for my family. I have got ₹4 crore medical cover for my family; ₹3 crore for my wife and I and a separate, ₹1-crore health cover, for my son," says Mohanty in an interaction with Mint for the Guru Portfolio series.
In this series, leaders in the financial services industry share how they manage their own money. Mohanty shuffled his equity portfolio last year. He made most of his new equity investments in multi-cap and mid-cap funds.
On the other hand, he made some new allocations to passively-managed exchange traded funds (ETFs) and international funds. Being in the index helped, especially in the mid-cap and international space last year. He says he prefers multi-caps over flexi-cap funds as there is more disciplined investing across all market caps.
He also plans to add multi-asset to his portfolio for a disciplined exposure across asset classes. Mohanty says within his equity investments, now around 20–25% is in passively-managed funds, while the rest is in actively-managed funds. Overall, Mohanty’s portfolio delivered 30% returns over the past 12 months.
He has stayed away from small-caps so far as he says he wants to avoid high volatility of small-caps in his retirement-linked investments. However, he has made a nominal investment recently in Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF, which is the fund house’s maiden small-cap offering. Mohanty says among his portfolio, mid-cap funds did well over the last 12 months.
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