'Economic output for FY21 is likely to be extremely muted'

The contra style of investing seeks to find ideas that have few takers in the present but which can get rerated later. The coronavirus pandemic has shaken many businesses, with the survival of a few coming at stake. Amid such a situation, the job of a contra fund manager has become all the more challenging. We speak to Taher Badshah who manages Invesco India Contra Fund, a five-star fund with assets upwards of Rs 4,000 crore. He fields questions on the impact of COVID- 19 on businesses and the economy, the emerging investment opportunities and how he has managed to contain the downside in his fund.