While the feeling is that of a bull market, in the last six-months the largecap index return is not in commensurate with the mood of the market, said S Naren, ED & CIO, ICICI Prudential AMC.
In continuation of celebrating its birthday week and also the Mutual Fund day CNBC-TV18 spoke to S Naren, ED & CIO, ICICI Prudential AMC. The channel completed 18 years of operations this week.
Giving is outlook on the market and themes to look at, he says for the next three years exports will be a big theme followed by technology and healthcare. The house is also still upbeat on the telecom theme for the next three years as well. It was their big call last year.
Interesting thing to note about the market is that the six-month return of Nifty is just 4 percent, while most people would say it should be in double-digits. So, while the feeling is that of a bull market, in the last six-months the largecap index return is not in commensurate with the mood of the market, says Naren.
When asked for stories he would look at entering at this juncture, he said if one were to look from a scheme point of view, then they have always been in favour of categories like balanced advantage fund. From capitalization point of view, the house has always believed in largecaps, he says but in the last 12-18 months, small and midcaps have been outperforming largecaps continuously.
However, he believes that when the cycle of earnings improve, largecaps have much bigger way to go.