In an interview with MintGenie, Sohini said
that the banks with high current account
savings accounts (CASA) deposits would have
advantage over banks and non banking
financial companies (NBFCs), which have high
reliance on wholesale borrowings. She also
discussed market trends for 2023 and the
fund's in her stock holdings post budget
2023.
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-
Sohini
Andani, Fund Manager at SBI Funds
Management Pvt Ltd, believes that
new investors can buy the fall in
the market and invest gradually with
an investment horizon long enough (5
years and more).
-
In an
interview with MintGenie, Sohini
said that the banks with high
current account savings accounts
(CASA) deposits would have advantage
over banks and non banking financial
companies (NBFCs), which have high
reliance on wholesale borrowings.
She also discussed market trends for
2023 and the fund's in her stock
holdings post budget 2023.
-
The mid
cap and large cap funds managed by
her are SBI Magnum Midcap Fund (G),
SBI Blue Chip Fund (G), SBI Banking
& Financial Services -RP (G), SBI
Banking & Financial Services -DP
(G), SBI Banking & Financial
Services -DP (G), and SBI Blue Chip
Fund - Direct (G)
Edited
Excerpts:
What
are our views and outlook for midcap
and large cap category in
2023?
The visibility
on the growth outlook is not very high
at this point of time for the calendar
year (CY) 2023. I think it would be a
year of consolidation for the markets
and both the categories with significant
variation in stock specific returns. It
means that stock selection would play a
meaningful role in determining
returns.
Which
sectors do you expect to perform
better this year? What are you
bullish and bearish
on?
As I mentioned
above, it is going to be less sector
specific and more stock specific during
CY 2023. However, we are more optimistic
on the growth of manufacturing sector,
especially companies which have
demonstrated strong manufacturing
competence in their respective
sector.
|
What
are the top stock holdings in your
fund, and are there any changes post
budget?
Apart from
giving colour on fiscal discipline, the
budget is largely a non-event. We have
not done material changes to the
portfolio based on budget
announcements.
In
2022, the banking space was amongst
the outperformers as it gained more
than 20 percent. The Nifty public
sector undertakings (PSU) Bank index
gave astonishing returns of more
than 70 percent. Do you think the
trend is likely to continue in
2023?
While the
entire financial sector did well during
2022, the returns would vary within the
sector during 2023. The banks with high
current account savings accounts (CASA)
deposits would have advantage over banks
and non banking financial companies
(NBFCs), which have high reliance on
wholesale borrowings. While asset
quality remains robust for the time
being and not an area of concern right
now, going forward we are likely to see
variance across banks and NBFCs on this
parameter.
What
advice would you give to new
investors in 2023?
Since the
markets has delivered superior returns
post Covid-19 lows during the last 3
years, the equity valuations are not
cheap. New investors can buy the fall in
the market and invest gradually with an
investment horizon long enough (5 years
and more). They should also remain
cognizant of returns on other asset
classes while allocating capital across
asset classes.
|
Result reason is about to end. Indian
markets are doing better at the moment. The
BSE Sensex is trading close to 61,500 and
NSE Nifty is firmly over 18,000-mark. With
retail inflation coming in at 6.52% in the
month of January 2023, RBI will still look
at rein in prices. Global markets, too, may
not be out of the woods just yet. Although,
some sections are already talking about a
recession that may not happen.
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