Mid-and small-cap stocks bore the brunt of the recent market sell-off in September and October. LALIT NAMBIAR, executive vice-president and fund manager at UTI Mutual Fund who, besides other funds, handles the UTI Midcap Fund at the asset management company (AMC) tells Puneet Wadhwa that he remains overweight auto, fertiliser, metals and chemicals sectors. Edited excerpts:
After a sharp fall in September and October, markets have recouped some losses in November. Is the worst behind us?
As a fund house, we had been maintaining the view that valuations were high. Relative attractiveness of the equity asset class drew domestic savings