SUNIL SUBRAMANIAM
Post Nifty@24000, is it time for profit-booking? Sunil Subramaniam answers
The widening gap in valuations between the mid-cap as well as the small cap pack and the largecap pack means that this is a wonderful opportunity to rotate it and bring down the average one-year forward PE of the portfolio by buying good quality, solid, robust largecaps, says Sunil Subramaniam.
Sunil Subramaniam of Sundaram Mutual Fund retires, Anand Radhakrishnan takes over as MD
The notice-cum-addendum is a crucial update for Sundaram Mutual Fund schemes, reflecting the recent managerial changes and my appointment as the new Managing Director.
MF Talk: Sunil Subramaniam advises retail investors to enter markets with over 10 year time horizon
Large institutional flows into large cap implies that it is harder to deliver alpha by active fund managers - but they are a critical part of an investor’s asset allocation decision.
Investors can look to bet on rural consumption and housing theme: Sunil Subramaniam
We may think that even NREGA subsidies could go up a little bit. So, I think the budget will give a clearer direction. But we do know that given the fact that the election results were not to the kind of expectations of the government itself, they will be trying to fix those problems. And from what we can see that two or three big states in north, UP, Haryana, then the Maharashtra, where the results were not to their liking, you would see that that is a farming belt, the UP is a sugarcane belt, Maharashtra is a sugarcane belt, so definitely you will see action around minimum support prices, you will see action around NREGA flows in there.
Industry campaigns like 'Mutual Funds Sahi Hai' key to SIP growth: Sunil Subramaniam
I think it is still under-penetrated market. Equity penetration in India is still in the single digit. So, I think there is immense scope for this to grow.
Expect some degree of volatility till the Budget: Sunil Subramaniam
But I now expect consumption to redress the balance and you will get a far more broad-based recovery, that is number one. Number two is I think that now with the lessons of what happened in this election, we expect the BJP itself to take necessary corrective action since it has got power for the next five years so that the very next election they will be in a position.
Waiting to buy the dip? Wait for further decline: Sunil Subramaniam
Subramaniam suggests buying quality stocks during market dips caused by FII volatility. He highlights the importance of managing portfolio volatility, with opportunities in largecaps for short-term gains and small/midcaps for longer-term growth.
Be patient; have a diversified portfolio with infra, capital goods and bank stocks: Sunil Subramaniam
Sunil Subramaniam emphasizes the significance of SIP book flow, SEBI regulations, fund managers' role, NIM impact in the BFSI space, and the strategy of playing the infra and defense story through corporate banks for sustained growth.
Stay cautious! Wait for the results & guidance before making fresh allocations: Sunil Subramaniam
Sunil Subramaniam stresses diversification, cautious market entry, and guidance reliance for retail investors. Company outlook, private sector capex, and global uncertainties will impact future positioning. Diversification is crucial amidst market unpredictability. Subramaniam says not to put all your eggs in just a couple of baskets and diversify as well as have outlook portfolios.
Is the worst over in mid and smallcap stocks and value buying emerging? Sunil Subramaniam answers
Sunil Subramaniam remains optimistic about mid and smallcaps, emphasizing the importance of quality stocks and long-term investment strategies like SIPs and STPs. He foresees growth in market infrastructure stocks and mutual fund penetration for structural investment opportunities. He says: The SIP book continues and there is buying and that is why the correction cannot sustain because every month out of the 19,000-crore SIP book, Rs 8,500 to 9,000 crore is in small and midcaps.
We will not jump in to buy all the PSU stocks that have corrected: Sunil Subramaniam
Sunil Subramaniam of Sundaram Mutual advises caution in investing in PSU stocks due to liquidity concerns and fundamental issues. Despite strong smallcap and midcap earnings, it is recommended to wait for a fundamental reset and be selective in the PSU space. The stress test reveals that if there is a sudden shock, a whiplash of some investor pulling out, will you have trouble in selling your most appreciated smallcaps?
For next 3-4 years, PSU banks can be a good bet: Sunil Subramaniam
Sunil Subramaniam prefers good quality in portfolio, whether PSU or private sector, due to capital adequacy and government ownership ensuring governance. He sees value in TVS, M&M, Tata Motors, Maruti. Two-wheelers and entry level passenger cars expected to bounce back. Bullish on commercial vehicles due to capex and election cycle. Ample liquidity in market, mid and smallcaps attracting investment.
This report card budget has given positive signals for equity markets: Sunil Subramaniam
The reduction in interest rates in the debt market is leading to increased flow of money into hybrid funds, which provide a tax-efficient way to participate in the reducing debt market. This has positive implications for the private sector as it reduces the crowding out effect of the government, leaving more capital for private sector borrowing. The lower borrowing program announced by the government also reduces pressure on yields, resulting in mark-to-market gains for banks and mutual funds.
ETMarkets Fund Manager Talk: Equity returns in 2024 should be tempered down, but gold set to shine: Sunil Subramaniam
Sunil Subramaniam of Sundaram Mutual Fund expects Indian equities to have a good first half of 2024, but warns of volatility in the second half. He recommends a large cap-oriented equity with allocation to gold and debt for a event-heavy 2024. He believes that consumption, banking, IT, and pharma sectors will perform well. In terms of asset allocation, he suggests a multi-asset allocation fund with a focus on BFSI, consumption, and IT. He also mentions that the outlook for gold remains positive.
Sunil Subramaniam is betting on consumption and banking this year. Here' why
Sunil Subramaniam believes that the banking sector may see a downgrade in terms of portfolio allocation due to the provisions announced by the RBI. However, he expects decent and healthy banking numbers, especially in corporate lending and SMEs. He also anticipates a pickup in mid and mass market segment consumption, supported by increased rural wages and government spending in an election year. He also likes PSU banks, which he believes will finance the capex cycle and be the vehicle of government dispersal.
Expect reallocation of money from manufacturing & infra to consumption & banking: Sunil Subramaniam
Sunil Subramaniam says: “Multi-asset funds are now the only way to buy paper gold in a tax evasion manner. What our fund proposes to do is for a moderate investor who wants long-term inflation and fixed deposit beating returns with lower volatility, a blending of gold and equity in the same portfolio achieves a sharp reduction in risk but with not a commensuration return in rewards.”
Could 2024 be a year of big reversal for private sector banks? Sunil Subramaniam answers
Sunil Subramaniam says: “Even within the mutual fund, almost 30% of the SIP book is in small and midcap space plus another 30% in multi-caps. So roughly half of the SIP book of Rs 17,000 crore is available for buying in the smaller end of the cap curve and even mutual fund institutional participation in the IPOs, would be having the money to deploy in good quality IPOs.
Hang in there in IT; market likely to consolidate till new year: Sunil Subramaniam
Sunil Subramaniam says: “I am optimistic that not only will the festival season numbers reflect well, the guidance in January for the next few months will also be good. The last two summers have been disappointing from a consumer discretionary perspective; hopefully this time around with the election around the consumer discretionary story will also step-up during summer.”
Sunil Subramaniam explains why market is volatile now and says FIIs will return in January
“When the FIIs come back into India, see, they are coming from a super safe market like the US to an emerging country risk oriented market. They will always tend to buy the safety aspects of the market, that is number one. Number two, if you see the composition of FII flows, passive flows are dominating. So, passive flows tend to buy the index.”
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