Five top Indian fund managers have revealed their strategies for investing Rs 10 lakh amid global market volatility. According to The Financial Express, the recommendations come as the US yield has spiked to multi-decade highs and crude oil remains elevated. Anand Shah from ICICI Prudential AMC allocated 45% to largecaps, 20% to smallcaps, 10% to midcaps, 15% to gold, and 10% to debt. Brijesh Ved from Kotak Mahindra AMC increased smallcap allocation to 20% while reducing largecap to 35%. Sandipan Roy from Motilal Oswal shifted from mid-smallcaps to 25% hybrid funds and 10% US equities.
The fund managers identified specific sectors for their portfolios. Anand Shah's watchlist includes private sector banks, financial services, manufacturing & industrial capex, power & energy ecosystem, and consumer services. Brijesh Ved focuses on banking & financial services, auto, capital goods, healthcare, and select consumption sectors. Sandipan Roy targets private banks, energy/power, metals & mining, China fund, and defence sectors. Ajay Bagga recommends US technology, Indian banking & financials, industrial commodities, Chinese AI & consumer tech, and India power, infrastructure & defence sectors.
The managers highlighted key market dynamics affecting their strategies. Anand Shah noted that geopolitical risks, elevated energy prices, currency depreciation, and global liquidity conditions warrant a balanced approach. Brijesh Ved pointed to rising crude oil prices, weather-related pressures, and persistent food inflation creating risks to disinflationary trends. Sandipan Roy emphasized that the market is being pulled by opposing forces of strong domestic growth versus elevated crude prices and higher global yields. Deven R Choksey identified the key equation as India Growth + Earnings Recovery + Domestic Liquidity versus Crude + Inflation + Rates + Rupee + FII Outflows.
Several managers presented contrarian investment themes. Anand Shah highlighted manufacturing and industrial businesses where capacity has been created but earnings inflection is still ahead. Brijesh Ved recommended auto and auto components, citing domestic demand, EV adoption, exports, and component localisation as long-term growth opportunities. Sandipan Roy identified FMCG as a contrarian theme, while Ajay Bagga advocated for US Magnificent 7 megacaps despite elevated global bond yields. Deven R Choksey advised avoiding highly leveraged businesses and those with weak pricing power.
The fund managers maintain a constructive long-term outlook on Indian equities while acknowledging near-term volatility. Anand Shah emphasized that their portfolio balances participation in India's structural growth with resilience to navigate potential volatility. Brijesh Ved remains constructive on medium-term outlook supported by strong domestic demand and improving export momentum. Sandipan Roy believes the tide may turn as large cap valuations seem more appealing after recent mid-small cap outperformance. Deven R Choksey believes India's structural growth story remains intact, supported by domestic demand, capex, financialisation, and manufacturing. Meanwhile, recent SIP data shows 54.16 lakh new SIPs were registered in May, with the stoppage ratio improving to 95.46% from above 101% in March and April, indicating disciplined investors continue benefiting from rupee cost averaging during market volatility.
