As the CSO of one of the youngest AMCs in the Indian MF industry, how do you view the current market landscape? What is your outlook on asset classes going forward?
Current market conditions remain resilient. India’s Nifty 50 continues to receive upward support from strong domestic inflows into equity mutual funds, with Indian investors purchasing over Rs.2 lakh crore worth of domestic equities even as foreign investors turned sellers.
Looking ahead, I expect:
Equity markets to maintain momentum, supported by India’s robust GDP outlook of above 6.5% for FY26.
Fixed income to benefit from potential RBI rate stability or cuts, creating a favourable backdrop for debt returns.
Gold to remain strong due to sustained central bank buying and a likely weaker USD as we move into 2026.
In this cycle, equities will continue driving long-term wealth, gold will anchor diversification and debt will provide balance, particularly during uncertain global and domestic phases.
Where do multi-asset funds fit into a client’s portfolio? How important are they in today’s volatile environment?
Multi-asset funds work well as a core allocation for clients seeking balanced, risk-adjusted growth. By blending equity (growth), debt (stability) and gold (hedging), these funds smoothen volatility and reduce downside risk through low-correlation asset mixes.
In today’s environment—marked by global rate transitions, geopolitical shifts and valuation swings—multi-asset funds become even more relevant. Their dynamic rebalancing often outperforms single-asset portfolios in volatile markets. A 10–30% allocation can be ideal for most investors.
MFDs can already build allocation through individual funds. Why should they consider multi-asset allocation funds?
While MFDs can create allocation manually, multi-asset allocation funds simplify the entire process. These funds come with SEBI-mandated 10% minimum exposure to at least three asset classes – equity, debt, and commodities such as gold, ensuring true diversification.
They also:
Remove the burden of ongoing rebalancing
Enable professional tactical shifts by fund managers
Offer hybrid tax treatment, which can enhance post-tax outcomes
Reduce client churn by providing a ready-made, low-maintenance solution
Importantly, investor-level rebalancing across separate funds often triggers capital gains tax each time. Multi-asset funds avoid this friction
How can MFDs simplify the concept of multi-asset funds for clients?
MFDs should position multi-asset funds as an “all-weather, all-purpose” investment solution.
A simple narrative works best:
Equity for long-term growth
Debt for income and stability
Gold for inflation hedging and global risk protection
Using relatable analogies such as choosing a balanced meal instead of eating only one food group helps clients instantly understand the value of diversification in a single fund.
What differentiates The Wealth Company Multi-Asset Allocation Fund from others in the category?
Most peers tend to lean heavily toward equities. In contrast, The Wealth Company Multi-Asset Allocation Fund prioritizes gold and commodities first with flexibility to go up to 50%before allocating the remainder to equity and debt.
This approach ensures:
Active, conviction-led allocation rather than residual exposure
A commodity-anchored, hybrid-tax structure that captures cyclical opportunities
Balanced decision-making driven by CIO (Equity) Aparna Shanker and CIO (Debt) Umesh Sharma, focusing on risk-adjusted outcomes across growth, fixed income, and metals.
This forward-looking design positions the fund uniquely in a category known for offering low-volatility, balanced returns.
A majority of multi-asset funds favour large-cap equities. What will be your equity strategy?
While most multi-asset funds maintain 65%+ large-cap exposure, our approach remains more tactical.
After anchoring the portfolio with gold, we allocate to equities based on macro conditions, focusing on:
Large-caps for stability and core growth
Selective mid- and small-caps for valuation-driven opportunities, particularly as the market moderates in late 2025
Who should invest in multi-asset funds and what is the ideal holding period?
Multi-asset funds are well-suited for moderate-risk investors including conservative professionals, beginners and retirees seeking steady diversification without active monitoring.
They are also suitable for NRIs looking to balance global and Indian exposures while hedging rupee movements.
A minimum 3–5 year horizon is ideal, helping investors capture the category’s average CAGR and avoid reacting to short-term market noise.
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