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    ICICI Prudential's S Naren: There is a good chance of making money by investing today

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    ICICI Prudential's S Naren: There is a good chance of making money by investing today

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    Smallcaps and multicaps are more interesting than largecaps because the latter and indices are heavily weighted in favour of top ten stocks which look overvalued, said S Naren, executive director and chief investment officer of ICICI Prudential AMC in an interview with CNBC-TV18.

    Smallcaps and multicaps are more interesting than largecaps because the latter and indices are heavily weighted in favour of top ten stocks which look overvalued, said S Naren, executive director and chief investment officer of ICICI Prudential AMC in an interview with CNBC-TV18.
    “From being cautious, I think it’s come to a situation where you keep investing and an investor today, who doesn’t look at the market for the next five years, there is a good chance of making money because you are investing when everything looks bad,” he said.
    “I believe that if I take long-term actively managed fund
    On mutual funds, Naren said: “The critical thing at this point of time is that you have to first invest and the biggest challenge I find in debt mutual funds is that people are not investing as much as they should have and in the last six months we have used every method to convince people that debt mutual fund are good asset class but money has come into smallcap rather than debt.
    “The difference between debt and equity is in debt you have to invest today and equity on the other hand is ripe for systematic investing or long-term investing,” added Naren.
    On investments, he said: “Sustainable dividend yield stocks make for good long-term investments and there are a number of stocks where the trailing price to earnings and price to book have become reasonable.”
    The automobile sector appears to be in a grip of slowdown with all major manufacturers reporting decline in sales in August. On the auto sector, Naren said: "We believe we are on a consumption slowdown cycle and recovery will take some time."
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