Whalesbook
Market rebound par bhi fund managers ka cautious approach
Yaar, April mein mid aur small-cap stocks ne toh dhamaal machaya, par Flexi-cap fund managers bade sambhal ke chal rahe hain. PrimeMF ke data ke according, mid-cap stocks mein average allocation March mein 17.93% se badh kar April mein 18.83% ho gaya, matlab 0.9% ka chhota sa jump. Small-cap mein bhi 1.44% badhotri hui, jo ab 18.10% ho gaya hai.
Yeh sab tab ho raha hai jab BSE mid-cap index 13.81% aur small-cap index 19.61% bhaga hai. BSE Sensex aur NSE Nifty toh sirf 6.9% aur 7.5% hi badhe.
Bade stocks se hataya haath, chote mein dabaw?
Flexi-cap schemes mein large-cap exposure kam karne ka trend dikha, 33 schemes ne cutting ki jabki 11 ne stake badhaya. Mid-cap mein 28 schemes ne investment 2.01% badhaya, par 16 ne kam bhi kiya. Small-caps mein 34 schemes ne 2.1% tak badhaya, lekin 9 schemes ne hata diya.
Inflation aur recovery ki tension
Bank of India Mutual Fund ke CIO Alok Singh kehte hain ki West Asia mein chal rahe geopolitical events ke karan inflation badh raha hai, aur iska asar choti companies par zyada padta hai. Saath hi, September 2024 ke market crash ke baad se kai small-cap stocks ki recovery bhi slow chal rahi hai. Unka kehna hai ki large caps attractive lag sakte hain, par yeh IT sector mein recent drop ki wajah se ho sakta hai, asli business picture itni achi na ho.
Kahan laga rahe hain paisa?
Kuch fund houses selective buying kar rahe hain. Bank of India Mutual Fund ne apne flexi-cap funds mein mid aur small-cap stakes badhaye hain, khas kar auto, metals, pharma aur power sectors mein. Quant Mutual Fund ke CIO Sandeep Tandon bhi mid aur small-cap mein selective rise dekh rahe hain, unki nazar mein power, data centers, pharma, renewables aur battery storage jaisi jagah achi hain. Alag-alag fund managers ke alag-alag views hain market aur sectors ko lekar.