Nikhil Khattau, CEO,Sun F&C, on the launch of Sun F&C Resurgent India Equity Fund.

Nikhil N Khattau, chief executive officer, Sun F&C Asset Management Company believes that the current slump in the market provides an excellent buying opportunity. He is of the opinion that the economy is picking up with sectors like automobiles, housing and cement poised for sharp upturn and expects a GDP growth of 6-7 per cent. In concurrence with the AMC's outlook, the flagship equity fund, Sun F&C Value had around 23 per cent of its assets in sectors like auto, cement, engineering, metals and diversified companies as on March 31, 2000. The exposure to economy stocks is, however, down from 39 per cent in December 1999. The AMC is currently in the market with Resurgent India Fund, which will tap the opportunities arising out of acquisitions, restructuring, privatisation and turnaround of Indian companies. The minimum investment in the fund has been pegged at Rs 5 lakh. Q. Why is Resurgent India Fund targeted at big-ticket investors? NK: This fund will test the patience of both the investor and the fund manager since one will have to wait to reap the reward of a turnaround or restructuring. It will be some time before retail investors understand this kind of a product. The fund will have a very low portfolio turnover with little volatility. Q. Have you already zeroed on some scrips for the Resurgent Fund? NK: We are looking at around