The investment objective of the scheme is to capitalize on the potential upside of equities while attempting to limit the downside by dynamically managing the portfolio through investment in equity and equity related instruments and active use of debt, money market instruments and derivatives.
Forty-one of these 57 IPOs received a mega response of more than 10 times, with 16 IPOs garnering more than 50 times bids. Four issues even managed to cross over 100-times subscription.
The scheme will be benchmarked against CRISIL Hybrid 50+50 – Moderate Index. The scheme will be managed by Alok Bahl (equity investments), and Utssav Modi (debt investments).
So, it is obvious that there is a lot caution in the air today. There have been a few callouts but I think it is mainly pockets driven rather than across the board as such.
Our belief is that going forward, it will be the finance segment which has been not doing too well of late because the heavyweights are not doing too well. But as I said that, it is mainly because of the liquidity constrain in the market today that they are not able to perform so well. I think RBI also cognizant of the fact that maybe we will see some kind of easing of liquidity in the near future, so that should help the banking sector