Veteran investor Vikas Khemani addressed concerns over Indian equities at the ET Alpha Wealth Summit, stating that current pessimism stems largely from recency bias rather than weakening fundamentals. As reported by The Economic Times, Khemani highlighted that India has delivered far better returns in the last 5, 10 or even 15 years within the emerging market space, despite recent underperformance. The Nifty has struggled over the past year and is down about 10% amid slowing corporate earnings growth, elevated crude oil prices, and persistent foreign investor outflows. However, Khemani argued that investors should not lose sight of India's structural growth drivers, including strong domestic demand, improving corporate balance sheets, and financialisation of household savings. HSBC MF CEO Kailash Kulkarni reinforced this perspective, emphasizing that a 12% annual return is a damn good job in the stock market and urging investors to temper expectations while recognizing the power of steady compounding.
At the ET Alpha Wealth Summit, Kotak Mahindra AMC MD Nilesh Shah identified four specific investment structures that deserve a place in most portfolios during volatile market conditions. His recommendations include Special Investment Funds (SIFs), which mark a meaningful shift from the traditional long-only mutual fund business to long-short, absolute return-oriented funds designed to generate returns regardless of market direction. Shah's second recommendation is performing credit AIFs, positioned to benefit from the supply-demand imbalance where institutional lenders have stepped back while borrowers remain plentiful. The third idea focuses on REITs, which have delivered index-level returns of around 13.5% over the last three years, with Shah suggesting the next six to nine months may present an opportunity to enter at better prices as rising interest rates typically compress REIT valuations. His fourth recommendation addresses global diversification through Gift City-based LRS products, serving as a practical path for investors seeking global exposure while conventional mutual fund windows remain closed due to full industry limits.
According to The Economic Times, Radhika Gupta, CEO and MD of Edelweiss MF, outlined a systematic approach to building a Rs 100 crore corpus through disciplined long-term investing. Speaking at the ET Alpha Wealth Summit, she emphasized that building such wealth is achievable with long-term investing, rising savings and disciplined asset allocation. Gupta noted that investors often underestimate the power of compounding and overestimate the need for extraordinary returns, stating that Indian equities and nominal GDP have historically delivered returns in the 10-12% range over long periods. Khemani's comments support this long-term perspective, urging investors to focus on structural growth drivers rather than short-term market volatility.
As reported by The Economic Times, Gupta explained that money roughly doubles every six years at annual returns of 11-12%. An investor starting with a corpus of Rs 1 crore and remaining invested for about 25 years, while steadily adding fresh investments, could potentially build wealth running into several tens of crores, with Rs 100 crore becoming an achievable stretch target. She stressed that the biggest driver of wealth creation for younger investors is not their investment portfolio but their ability to increase income over time, recommending investors focus on career growth and systematically increase investments as earnings rise. Gupta specifically recommended increasing SIP contributions by around 10-12% annually after reviewing budgets and salary growth.
HSBC MF CEO Kailash Kulkarni highlighted export-led manufacturing as a key long-term opportunity, stating that "Where is the next big gold rush? Exports through manufacturing are one such area." According to The Economic Times, India's growing network of free trade agreements and its position in global supply chains could help domestic manufacturers gain market share as companies diversify production beyond traditional manufacturing hubs. India currently has around 10-11 free trade agreements either operational or under various stages of implementation, providing greater access to overseas markets for domestic producers. Kulkarni argued that while India may not emerge as the biggest winner in the global AI race, the country has several other opportunities that could create substantial economic value over the coming decade.
Speaking at the ET Alpha Wealth Summit during a discussion on AI's impact on India over the next decade, Kulkarni said investors often underestimate the power of steady compounding while chasing unrealistic return expectations. For retail investors, he does not see artificial intelligence as a major threat, noting that individual investors generally approach markets differently from institutional investors and algorithmic trading systems. "What they need is more access to useful information. If AI can help provide that, it will be beneficial," he said. Kulkarni emphasized that people need to be agile and be willing to relearn, as technological disruptions have historically rewarded those who continuously upgrade their skills rather than resist change. This perspective complements Gupta's earlier warnings about social media's influence on investment behavior, urging investors to focus on consistency and patience rather than chasing market trends.
