Expect low double-digit market return in rupee terms in 2024: WhiteOak Capital AMC
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Pro-Talk
In an interview with ETMarkets, Ramesh Mantri, CIO, WhiteOak Capital AMC spoke about the outlook for markets in 2024, the firm’s stock selection strategy, the near term flow picture for India, and his view on midcap and smallcap stocks.
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2024 Picture
Amidst the unfavourable global landscape, India’s macroeconomic conditions are relatively healthier, so Mantri believes that the fundamental case for investing in India remains as compelling as ever.
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Flow Show
Mantri believes that the exposure of Indian households to equity assets is still low, and thus, there is a long runway for growth. At the current juncture, he believes it is only a matter of time before monthly SIP flows cross Rs 20,000 crore.
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Strategy for Alpha Returns
WhiteOak believes in keeping a balanced portfolio to neutralise risks relative to the market. Therefore, it does not make any top-down sectoral bets. Infact, the funds’ exposures are a result of a rigorous bottom-up stock selection process.
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Midcap/Smallcap Play
From a market cap perspective, while WhiteOak’s portfolio is invested across the spectrum, it finds a greater number of opportunities in the small and mid-cap (SMID) segment, which is highly fertile for alpha generation due to greater inefficiencies that exist in this segment.