We
follow a bottom-up strategy with regards to stock selection,
keeping in view medium to long-term growth prospects.
Stock
market has remained range-bound and is likely to remain so.
Monsoon may provide a trigger. Commodity
sectors as well as sectors with outsourcing capabilities,
e.g., IT, Auto-ancillaries, Textiles etc. performed well.
Banks too did well. In the coming days, stocks belonging to
core sectors viz., Cement, Construction, Engineering, Capital
Goods Manufacturing companies are expected to do well.
Interest
rates appear to be range-bound for the near-term horizon.
Medium-term as well as short-term rates are fluctuating within
a narrow band. Short-term debt funds e.g., Liquid Fund, Floating
Rate Fund, Hybrid Schemes with low to medium equity exposure
would be preferred.
Our
short-term debt funds as well as hybrid funds have performed
very well. Our Liquid Fund continues to remain the market
leader in that category. Our Floating Rate Fund, launched
about a year ago, is coming up fast. Our Hybrid Monthly Income
Plan is a consistent income payer.
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