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'Focus on long-term savings' call.

Byline: Arthur Macdonald

MANAMA: Investors should stop worrying about short-term fluctuations in the Indian stock market, they were told at a seminar in Bahrain

Indogulf Financial Services hosted the meeting jointly with Birla Sunlife for non-resident Indian investors in the new Birla Sunlife Special Situation Fund.

"Given the overall robust outlook for Indian economy, investors should stop worrying about short fluctuation in the market and focus increasingly on long- term savings to generate wealth," said Indogulf chief executive Aniruddha Vaidya.

"Also given the fact that interest would remain stable to bullish, proper asset allocation towards equity and debt schemes would probably pay off handsomely to investors this year.

Birla Sunlife Mutual Fund fund manager Atul Penkar said that special situations could be defined as opportunities arising out of various events such as mergers, de-mergers, asset play and various other opportunities.

"We believe special situation adds to the overall conviction that is formed in any company on the basis of their fundamentals," he said.

"Therefore, fundamental investing through a blend of top-down, bottom-up and special situation would hold the potential of bringing huge value on the table for investors to make money"

"The philosophy of the fund is to invest in companies with sustainable earnings growth backed by strong promoter and trading at attractive valuations," he continued.

"Within this framework we will identify companies, which meet the objective of the fund.

"We have created a model portfolio for the fund and have done back testing of the same."

Copyright [c] 2008 Gulf Daily News

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Publication:Gulf Daily News (Manama, Bahrain)
Date:Apr 30, 2008
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