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The celebrated CIO of ICICI Prudential Mutual Fund, with over Rs 10 lakh crore AUM and a two-decade record of 20 percent annualised returns shares his playbook for risk, valuations and opportunity spotting in a changed market cycle.
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ICICI Prudential AMC CIO S Naren warns against chasing frothy IPOs, urges investors to guard portfolio quality, liquidity, and size.
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ICICI Prudential’s veteran CIO says retail and institutional investors are now driving India’s capital allocation, raising fears of mispricing and overexposure to equities.
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As valuations stretch, the ICICI Prudential's chief investment officer S Naren says he is happy to take smaller, sure-shot gains.
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A note by Whiteoak Capital made a case for SIPs, and said that the 'Cost of Delay' of starting late can be huge over the long term and the longer the market takes to reach the bottom, the higher the 'Cost of Delay.'
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ICICI Pru CIO S Naren urged investors to protect gains made over the last five years, warning that mid- and small-cap stocks are highly overvalued. He recommended a diversified asset allocation strategy to manage risks.
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While Naren's comments on valuations of small and midcap stocks are valid, an average mutual fund buyer cannot time the market like an expert fund manager
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The video address on the IFA Galaxy YouTube page was allegedly edited and re-uploaded, according to some social media users who had heard the original speech.
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In the book written by Safir Anand, the fund manager explains why an investor needs to respond to the reality of the market and not be rigid in his/her approach
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Power generation companies are very few, so all of them will do well for the next two to three years because there is virtually no capacity at this point, Naren says.
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In an interview with CNBC-TV18, S Naren, ED and CIO of ICICI Prudential AMC said that the valuations are more reflective of the environment and that India is outperforming peers and will still result in moderate to low growth in the near term.
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Cash calls are usually taken when wealth managers want to protect investors’ money from the downside. “However, protecting the downside is only remembered for a short period of time. The bigger picture is always participating in the upside,” says Anoop Bhaskar of IDFC MF
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Bank stocks remain the market’s darlings on the back of an increase in capital expenditure and the cleaning up of bad loans on their balance sheets.
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The entire panel said they were Overweight on financials at the moment, on the back of good earnings visibility and strong asset quality
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Naren warned that the next 18 months will be dominated by continuous interest rate hikes in the US and India.
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The consumer economy will be a structural trend in India over the next 20-30 years, but more of a correction is expected in consumer-facing stocks in the near-term because of their rich valuations, Naren said.
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The veteran asset manager believes Russia’s invasion of Ukraine is different from geopolitical crises of the past.
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He believes the companies are undervalued and stand to gain with value stocks being popular once more.
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Government's borrowing may not be as high as envisaged in the long run, although there will be short-term volatility, says chief investment officer, ICICI Prudential AMC
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From an investor perspective, in a boom phase, investing requires absolute care. Given that equity as an asset class has rallied continuously, one has to be cautious, says S Naren of ICICI Prudential Mutual Fund.
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Since February 2018 till December 2019, the m-cap of companies ranked from 251 to 500 have dropped 23.2 percent while that of beyond 501 companies have decreased by 56.5 percent
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Fund managers should eat their own cooking.
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Even though the sector has been a rank underperformer in the past, Indian telecom stocks are very attractive from a three-year perspective, according to S Naren, Executive Director at Chief Investment Officer at ICICI Prudential.
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S Naren likes the telecom space due to the current valuations for long-term. He also likes power industry, where he expects a 5-7 percent increase in power consumption in India every year.
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However, S Naren, ICICI Pru believes demonetisation is near-term pain for long-term gain and does not expect February lows of 6900-7000 to be tested.
