Devina Mehra, a veteran asset manager and Chairperson, Managing Director, and Founder at First Global, believes it is time for investors with cash to enter the market over the next two to three months given the broad correction in domestic equities.
In an interview with CNBC-TV18, Mehra said that investors should look at staggering their cash deployment in the current market as the situation normalises going ahead.
Benchmark equity indices fell nearly 4 percent on February 24 after Russia announced a military action in Ukraine. Russia’s actions triggered sharp risk aversion and bloodbath in equity assets from Tokyo to London.
US stocks futures suggested a more than 800-point drawdown in Dow Jones Industrial Average when it opens for trading later in the day. Global crude oil prices soared 6 percent while natural gas prices in Europe spiked 25 percent.
Mehra said her portfolio in India had higher-than-usual cash while her equity positions were hedged 80-90 percent in anticipation of a wide market crash.
The veteran asset manager, who is renowned for investments in global stocks, also said that she was “unfussed” about the outcome of the ongoing state elections in key states like Uttar Pradesh.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.