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No Crash Landing

With over a decade of experience, Sanjay Dongre has been one of the country's leading fund managers. In 2006, he shot to fame with the UTI Infrastructure fund

Dongre joined UTI AMC in 1994. But this 38-year old fund manager got everyone's attention in 2006 when his fund, UTI Infrastructure, topped the return charts. He started off as a debt analyst, providing support to the fund management. He also worked as an equity research analyst before dabbling in equity dealing for a while. Prior to UTI, he had a stint with Reliance Petroleum at their Hazira plant. Dongre holds an engineering degree and an MBA from IIM (Kolkata).

Do you see a market crash in the near future?
If a crash is taken to mean a 25-30 per cent decline, I do not see a market crash in the near future. However, a correction of 8-10 per cent in the short term cannot be ruled out. This is specially the case with lower earnings growth expectations of 2QFY08 and domestic politics leading to early announcement of general elections.

What is the strategic and tactical orientation of your fund?
UTI Infrastructure Fund has been following a top-down approach with regard to stock selection, keeping in mind the evolving economic scenario. The fund has capped its exposure to various sub-segments within the infrastructure theme thereby ensuring a diversified portfolio within the broad theme. The fund has good mix of large-cap and mid/small-cap stocks, thereby ensuring a good return potential as well as liquidity of the portfolio.

Which are your top sector preferences?
Engineering & Construction
Power Equipment and Power Generation/ Transmis-sion/Distribution