'Prefer being contrarian. Focus on valuations, business cycles'

Daylynn Pinto had already taken an unconventional path for a Goan with limited exposure to stocks to be in finance when, one day, the head of equity at UTI Mutual Fund stumbled upon Pinto's breakeven analysis on whether to buy a petrol or diesel car. "That was a pivotal moment," says Pinto, as it led to an offer for him to join the Auto sector as an analyst shortly thereafter. Cut to the present day, Pinto is the Senior Fund Manager of Equity at Bandhan AMC. He manages four pure equity funds there, with a collective AUM (assets under management) of about Rs 19,470 crore. Of these, the Bandhan ELSS Tax Saver and Bandhan Sterling Value Fund are currently rated four stars by Value Research. In an exclusive conversation, Pinto reflects on his early days in the financial sector, the factors impacting the ELSS fund's performance and why he's not too keen on adding PSU stocks to his funds' portfolios. What drew you to the world of equity investing? I was out of college when the UTI Mutual Fund recruited me from the campus. At that time, I only had a vague idea of the markets, as I was from Goa. The stock market is typically not the first thing that resonates with someone who didn't grow up in Mumbai. When I joined UTI Mutual Fund in 2004, the industry just grew on me over time. So, my entry into the equity market was more by accident than design. You started your career at UTI Mutual Fund as a research analyst before becoming a fund manager. Could you share some key insights you gained as an analyst? The overall journey has been great, and I will say it has exceeded expectations in many ways. Right from the start, the learning curve has been very high. UTI Mutual Fund is the country's oldest and first fund house, so the exposure, knowledge, depth and experience I gained from the people around me were excellent. It was a stepping stone in my career, as many stalwarts of the mutual fund industry have come out of UTI. So, in terms of key moments, I can share