No redemption seen from HNIs: Experts

Excerpts  from CNBC-TV18's exclusive interview with Rajesh  Sampat and Rakesh Parekh:

Q: Have you seen any redemption either a little earlier when the Nifty broke past those 4,500 kind of levels or in the last few days when it sank to almost 3,800?

Sampat: We have not seen any redemption so far. We see inflows of funds even at the current levels.

Q: What has your experience been? Have there been any panic calls from HNIs? Have they started selectively redeeming?

Parekh: Our Portfolio Management Services (PMS) are ore focused more on customized portfolios. So, we have been with them all through this period.  We have specific mandates for them and so there has not been any redemption pressure. They are waiting for the right time to put in more money. 

Q: What kind of portfolio churn have you done for them? What kind of cash levels are you advising your clients now?

Parekh: There has not been much of portfolio churning at all recently as we have stuck to certain mandates for our clients. We have customized portfolios. In the last few months we have actually raised our cash levels quite significantly. We are just waiting for the right opportunities for the markets to bottom out and see signals of that before we take some action.

Q: While there may not have been too much of redemptions have you been selling out of midcap positions generally keeping portfolios more liquid or you have been deploying most of your money in the market at these levels?

Sampat: We have churned portfolios depending on the merit of the stock and what we see has earning potential in the future. We have been sitting on some amount of cash for last two months or so.