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India will remain an attractive destination for foreign investors, says IIFL AMC

Updated : May 23, 2019 04:40 PM IST

IIFL Asset Management Limited on Thursday said that India will remain an attractive destination for foreign investors.

In an interview to CNBC-TV18, Jonathan Schiessl, senior vice president, said, "The most important thing is this large dollop of policy uncertainty will be taken out of the way. Clearly, the market has been worrying about this election for some time and therefore, it is one of the issues that you can remove. There are other issues from a mini growth slowdown to various other issues but this was a big one. So, this is clearly good news from our and market perspective as all investors like policy certainty."

On stocks and sectors, Schiessl said, "The key is to be in the market. I think all portfolios should have a good mix of quality. Of course, there are other sectors which have sort of come under pressure over the last 6 to 12 months - autos in particular has been a pretty difficult sector. Autos and auto ancillary is that a space that is going to stay under doldrums forever? It is very unlikely. Is it a bottom today? That is another difficult call to make, but certainly, when you look at historical valuations in some of those names, then you can build a value case for a longer term investment."
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