Sankaran Naren, chief investment officer at ICICI Prudential AMC. For the next year at least, Naren doesn’t see investments in Indian equities fetching more than “mid-teen” percentage in gains. “We shouldn’t talk of multi-baggers now, we can’t expect stocks doubling and one has to invest with expectations of lower returns than that,” he said. The Dow Jones Industrial Average has outperformed the MSCI India and the MSCI Emerging Markets indexes in the past three years. Investors have poured 1.2 trillion rupees into stock mutual funds this year, according to the Association of Mutual Funds in India.

Source: Mint December 19, 2018 00:00 UTC