Pankaj Gupta has been managing three equity diversified funds at SBI - Magnum Contra, Magnum Bluechip and Magnum One India Fund. Gupta has over four years of experience in the financial services industry, particularly mutual funds, equity research and corporate banking. His previous assignment was with ICICI Bank. Gupta is an alumnus of IIM (Lucknow).
Do you see a market crash in the near future?
The Indian economy offers very good long-term growth prospects and we believe that the stock market should mirror that. Our experience with the Indian market over the last couple of years has been that it has not only recouped its losses after every correction but has scaled new highs.
So we believe that the Indian market is on a structural move upwards and intermittent corrections may be a part and parcel of that climb.
What is the strategic and tactical orientation of your fund?
Magnum Contra Fund is a diversified equity scheme that adopts a contrarian approach by investing in those sectors/stocks where the fundamentals of a situation differ from the expectations reflected in their stock prices. The fund believes in active portfolio management and endeavours to have early entry and exit before the herd mentality sets in.
Which are your top sector preferences?
For Magnum Contra: