Key Points
Radhika Gupta, MD & CEO, Edelweiss AMC, says If you want to play some of the meaningful themes that I believe define India going forward, chemicals, China plus one, capital goods, capital markets, those market leaders are present in the midcap space because largecap space is IT, to some extent energy and BFSI..
Your midcap fund has gained very sizable share because of flows as well as the value going up because that space has done very well the last couple of months.How are you assessing the valuation because you guys have done pretty well in that space, is this narrative justified that midcaps have actually run up higher than what the numbers actually support?..
Radhika Gupta: Our view on midcap and smallcap has been a little more calibrated than some of the extreme views you have and as you correctly said, we have been running Edelweiss Midcap fund for 15 years now and we consider ourselves mid and smallcap specialists at some level..
I think six months ago, people had started shutting down midcap funds, smallcap funds, saying valuations are expensive and we said, we are in the midpoint of a valuation cycle but earnings quality continues to improve and I think that has played out really nicely...
We have been bullish on the manufacturing side of the Indian economy for the last three-four years and that includes your EMS, your industrials, most of those companies, your capital goods companies and that has worked very well for our fund over the last few years and that position continues to hold..
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