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Markets Fairly Valued

With over 3 decades of experience backing them, this managerial duo can hardly go wrong. Learn more about Kaji & Sangoi and why they feel that the market is fairly valued

An old war horse, Pankaj Kaji has more than 30 years of experience in foreign exchange and fund management. A post graduate in commerce, he has worked for global financial powerhouses like Deutsche Bank's global market arena and ANZ Grindlays' treasury division. One of the most experienced fund managers, Kaji joined ICICI Prudential's investment team five years ago where he manages the debt funds.

Deven Sangoi has been associated with ICICI Prudential AMC for the past two years. Sangoi had previously worked with Alchemy Stocks and Shares Limited. He has been managing ICICI Pru Balanced since October 2005. He is also managing some other equity funds at the AMC including ICICI Pru Emerging Star and ICICI Pru Growth. Sangoi is an electronics engineer and an MBA.

Do you see a market crash in the near future?
We do not see the market crashing in the near future. The fundamentals in the Indian market look good on the back of strong earnings. The monsoons have also been above average, which further strengthens the situation. Thus the market is fairly valued in the current scenario. However, there might be some correction if the money flows slow down. Investors should look at SIP as a long-term investment tool as it helps ride the volatility by mitigating the risks.

What is the strategic and tactical orientation of your fund?
We focus on bottom-up investment with significant bias towards large-cap companies. We also have a judicious mix of mid-cap companies that have sustainable long-term growth potential.

Which are your top sector preferences?
Financial Services
Capital Goods
Financial Services, because of the growth in the Indian economy and a spectrum of new offerings, resulting in high consumer spending, backed by increasing salary levels. Capital goods because of increase in capital expenditure required for building India, its infrastructure etc.

This interview appeared in the October 2007 issue of Mutual Fund Insight.