Latest news with #BarodaBNPParibasMutualFund
Time of India
20 hours ago
- Business
- Time of India
ETMarkets PMS Talk: Indian equities fairly valued but need earnings boost, says Sanjay Chawla
In the latest edition of ETMarkets PMS Talk , Sanjay Chawla , Chief Investment Officer – Equity at Baroda BNP Paribas Mutual Fund, shared his views on the current state of Indian equities , global headwinds, and sectoral opportunities. While he believes the markets are trading around their long-term averages, Chawla emphasised that a sustained earnings pickup will be crucial to justify valuations. He downplayed the impact of recent U.S. tariff hikes on Indian exports, highlighting that the affected sectors form an insignificant part of the equity indices. Chawla also touched upon the resilience of retail investors, the temporary nature of foreign portfolio outflows, and the potential in consumption and healthcare segments, even as geopolitical and macroeconomic uncertainties persist. Edited Excerpts – Thanks for taking the time out. With Washington's additional 25% levy—doubling U.S. tariffs on Indian goods to a punitive 50% - how are you reading into this for Indian Inc.? From a macro perspective, Indian exports to the US accounts less than almost half a percent of the GDP. Then there are certain sectors which are exempted. So the net-net impact would be even lesser. This is of course assuming the most pessimistic scenario of exports coming to a complete standstill. That is not our base case. The fact that most countries would have some tariffs would mean that India may not be economically at a disadvantageous position. Since the sectors which are likely to get impacted are not material part of equity Indices, the impact on the earnings is unlikely to be meaningful. However, the impact may be on a bottom-up basis and more from a sentiment perspective. Going by the trade negotiations with the other countries, I think the tariffs may settle down on a much lower basis. Do you think with external headwinds the process of generating alpha will be more challenging? There are a couple of headwinds- trade barriers, global economic uncertainties, supply chain disruption, geo-political simmering at multiple locations. All these factors are leading to heightened uncertainty. Most of the factors are difficult to model in a traditional financial sense. As long as one stays focus on long term fundamental factors and usually ignores the 'noise' and manages the volatility, they would perhaps do well. How are reading into June quarter results of India Inc.? Till date we have seen about 80% of the companies have reported their earnings. The PAT growth continues to be in single digit. While the earnings are aligned to expectations, the requisite run rate would be higher in coming quarters. It augurs well that festive seasons this time are well spread and come in earlier. It is expected that earnings may improve in the coming quarters. What is your call on valuations? We have some moderation from all-time highs but can we say that we are in the attractive zone? Simplistically, Indian markets are trading at long term averages. To make strong investment arguments at current valuations we need to see earnings improve from here on. Results so far have been in mid-single digits. Ground feedback from festive demand seems to be indicating a much better outlook. If that sustains and is reflected in earnings in coming quarters then current valuations may be justified. Foreign institutional investors have unleashed a brutal $4.17 billion selloff across five key sectors in July. FIIs turned net sellers to the tune of Rs 17,741 crore last month. Should Indian investors be cautious? FPIs have been overweight on India for a long time. Recent outflows may plausibly be on account of redemptions, or profit booking or alternative markets being cheaper and offering better potential returns. In the past also we have seen FPIs selling in the short term only to do a U turn once global factors stabilize. At this juncture, Indian markets tick almost all boxes from a global investor perspective: Good economic growth, stable currency, deficit under control, visible earnings growth and breath of investible opportunity can be assumed to be available. Besides the global uncertainty the only factor against Indian investment is slower than historic earnings growth. Once that picks up we may see renewed interest by overseas investors. Retail investors have played an important role in holding the market. But rising risk could pose a threat? There is no denying the fact that retail investors have shown remarkable resilience and maturity and have been steadfast in their financial goals. I think they understand the difference between systematic risk (in terms of GDP, earnings and valuations) and unsystematic risk (global policy uncertainty and geopolitical tensions). They understand that eventually the domestic economy will do well leading to improved earnings. That is what they hope to capture by investing in Indian equity markets. From a retail perspective, do you agree that money could start moving towards fixed income space as volatility grips D-Street? It is very important to do your asset allocation and have the discipline to stick to the same to meet your financial goals. Risk appetite for equity investors is different from Fixed income investors. That is what is eventually reflected in potential return. The recent tepid returns from equity markets is an outcome of heightened global uncertainty. Once the dust settles we should see earnings growth tracing the nominal GDP. Which sectors look attractive? Consumption sector, especially discretionary consumption, should see a pickup. First the personal tax cuts should increase the disposable income of the middle-class. Secondly, we usually see higher spending during festive. We hope to see the same trend continuing. The Healthcare sector also offers interesting pockets of growth- Hospitals are expanding through brown field expansion, domestic demand is potentially stable. Opportunity in Contract Manufacturing (CMO) can be very meaningful. This is notwithstanding the potential tariff barriers. However, we suggest that investors should consult their financial advisor and according to their risk appetite consider the above sectors. ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
14-07-2025
- Business
- Time of India
Baroda BNP Paribas Liquid Fund turns Rs 1 lakh investment to nearly Rs 3 lakh in 23 years, AUM crossing Rs 10,000 crore
Live Events Baroda BNP Paribas Mutual Fund has completed 23 years of existence in the industry and has almost tripled investor wealth Rs1 lakh invested at launch to Rs 2,99,565 now and has crossed an AUM of Rs 10,000 crore. Baroda BNP Paribas Liquid Fund is a trusted solution for investors seeking capital protection, liquidity, and stable short-term returns and crossing a significant milestone of the scheme AUM at Rs 10,500 crore in Average Assets Under Management (AUM) Read | Nearly 112 lakh SIPs closed in 2025: Should you worry about the negative net SIP trend? The fund is managed by Vikram Pamnani and Gurvinder Singh Wasan. The performance of the fund is benchmarked against CRISIL Liquid Debt A-I Index. Baroda BNP Paribas Liquid Fund has delivered an annualised return of 7.09% return over the past one month, reaffirming its reputation as a reliable option for managing surplus funds, according to a press global markets experiencing volatility amid geopolitical uncertainty and policy shifts — including U.S. sentiment swings under the Trump era — many investors are adopting a "wait and watch" approach. For those looking to safely park capital while staying liquid, liquid funds present an attractive alternative to traditional savings accounts, the release BNP Paribas Liquid Fund achieves this through prudent investment in short-term debt instruments with minimal price risk and low credit risk. With a modified duration of just 55 days, the fund offers liquidity while aiming to generate returns higher than conventional savings investors seek safety, liquidity, and predictable returns, the Baroda BNP Paribas Liquid Fund continues to stand out as a safe haven for short-term money management, proving its relevance even 23 years Read | Mutual funds slashes cash allocation by Rs 13,000 crore in June; PPFAS and Quant MF join trend Baroda BNP Paribas Liquid Fund is an open-ended liquid scheme with a relatively low interest rate risk and moderate credit risk to the Sebi mandate, liquid funds make investment in debt and money market securities with maturity of up to 91 days only.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
14-07-2025
- Business
- Economic Times
Baroda BNP Paribas Liquid Fund turns Rs 1 lakh investment to nearly Rs 3 lakh in 23 years, AUM crossing Rs 10,000 crore
Baroda BNP Paribas Mutual Fund has completed 23 years of existence in the industry and has almost tripled investor wealth Rs1 lakh invested at launch to Rs 2,99,565 now and has crossed an AUM of Rs 10,000 crore. Baroda BNP Paribas Liquid Fund is a trusted solution for investors seeking capital protection, liquidity, and stable short-term returns and crossing a significant milestone of the scheme AUM at Rs 10,500 crore in Average Assets Under Management (AUM) mark. Also Read | Nearly 112 lakh SIPs closed in 2025: Should you worry about the negative net SIP trend? The fund is managed by Vikram Pamnani and Gurvinder Singh Wasan. The performance of the fund is benchmarked against CRISIL Liquid Debt A-I Index. Baroda BNP Paribas Liquid Fund has delivered an annualised return of 7.09% return over the past one month, reaffirming its reputation as a reliable option for managing surplus funds, according to a press release. With global markets experiencing volatility amid geopolitical uncertainty and policy shifts — including U.S. sentiment swings under the Trump era — many investors are adopting a "wait and watch" approach. For those looking to safely park capital while staying liquid, liquid funds present an attractive alternative to traditional savings accounts, the release said. Baroda BNP Paribas Liquid Fund achieves this through prudent investment in short-term debt instruments with minimal price risk and low credit risk. With a modified duration of just 55 days, the fund offers liquidity while aiming to generate returns higher than conventional savings investors seek safety, liquidity, and predictable returns, the Baroda BNP Paribas Liquid Fund continues to stand out as a safe haven for short-term money management, proving its relevance even 23 years Read | Mutual funds slashes cash allocation by Rs 13,000 crore in June; PPFAS and Quant MF join trendBaroda BNP Paribas Liquid Fund is an open-ended liquid scheme with a relatively low interest rate risk and moderate credit risk to the Sebi mandate, liquid funds make investment in debt and money market securities with maturity of up to 91 days only. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
13-07-2025
- Business
- Economic Times
Gurvinder Singh Wasan, CFA, Senior Fund Manager, Baroda BNP Paribas Mutual Fund
With over two decades in fixed income, this Mumbai-born CA and CFA charterholder now leads multiple debt and hybrid funds at Baroda BNP Paribas Mutual Fund. His strategy blends macro insights with tactical moves. The real drive? Earning investors' trust and delivering alpha while ensuring safety and liquidity. Let's start with your personal story Tired of too many ads? Remove Ads How did you land this job? Which funds are you currently managing? Tired of too many ads? Remove Ads What is your investment philosophy, and how would you describe your investment strategy? What gives you the kick while managing other people's money? I am a Mumbai boy, born and brought up in a joint family of businessmen. I have completed a Master's in Commerce and am a Chartered Accountant by qualification. In addition, I am a CFA charter holder from the CFA Institute, USA.I have been working in the fixed income industry for about 21 years now. All my previous roles have been great learning curves, where I had the opportunity to learn from experienced colleagues, talented subordinates, and enthusiastic is a small industry where most professionals in the investment segment know each other. I would say I was at the right place at the right time, and was fortunate to land my current role as Senior Fund Manager with Baroda BNP Paribas Mutual Fund Prior to this, I was associated as a Senior Fund Manager and Credit Analyst with JM Financial Mutual Fund. Before that, I was part of Principal Mutual Fund, where I had my longest stint. I have also worked as a structured finance analyst at CRISIL and ICICI Bank I have been entrusted with a diverse mix of funds that stimulate my interest and enhance my professional profile. On the duration side, we manage Gilt and Dynamic Bond Funds. On the shorter end of the curve, there are Ultra Short Term and Low Duration Funds. In the mid-tenor segment, we have Short Term and Corporate Bond Funds. We also manage a Credit Risk Fund with a credit the hybrid front, I manage Balanced Advantage, Conservative Hybrid, Aggressive Hybrid, Equity Savings, and Retirement Funds. Additionally, I handle Fund of Funds schemes such as the Multi Asset Fund of Fund, as well as passive offerings like the Nifty SDL and Gold investment philosophy combines a top-down macro approach with a core-tactical strategy. We closely track macroeconomic indicators and, based on our assessment, determine a suitable duration profile for each mutual fund this framework, we construct a core portfolio and aim to generate alpha through tactical allocations, which we actively manage to take advantage of market opportunities. Overall, our mandate is to prioritize safety and liquidity while consistently seeking alpha real kick lies in being entrusted with the responsibility of managing someone's hard-earned savings. That trust itself is a powerful driving force.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
13-07-2025
- Business
- Time of India
Gurvinder Singh Wasan, CFA, Senior Fund Manager, Baroda BNP Paribas Mutual Fund
Let's start with your personal story I am a Mumbai boy, born and brought up in a joint family of businessmen. I have completed a Master's in Commerce and am a Chartered Accountant by qualification. In addition, I am a CFA charter holder from the CFA Institute, USA. How did you land this job? I have been working in the fixed income industry for about 21 years now. All my previous roles have been great learning curves, where I had the opportunity to learn from experienced colleagues, talented subordinates, and enthusiastic peers. This is a small industry where most professionals in the investment segment know each other. I would say I was at the right place at the right time, and was fortunate to land my current role as Senior Fund Manager with Baroda BNP Paribas Mutual Fund . Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » Prior to this, I was associated as a Senior Fund Manager and Credit Analyst with JM Financial Mutual Fund. Before that, I was part of Principal Mutual Fund, where I had my longest stint. I have also worked as a structured finance analyst at CRISIL and ICICI Bank . Which funds are you currently managing? I have been entrusted with a diverse mix of funds that stimulate my interest and enhance my professional profile. On the duration side, we manage Gilt and Dynamic Bond Funds. On the shorter end of the curve, there are Ultra Short Term and Low Duration Funds. In the mid-tenor segment, we have Short Term and Corporate Bond Funds. We also manage a Credit Risk Fund with a credit play. Live Events On the hybrid front, I manage Balanced Advantage, Conservative Hybrid, Aggressive Hybrid, Equity Savings, and Retirement Funds. Additionally, I handle Fund of Funds schemes such as the Multi Asset Fund of Fund, as well as passive offerings like the Nifty SDL and Gold ETFs. What is your investment philosophy, and how would you describe your investment strategy? My investment philosophy combines a top-down macro approach with a core-tactical strategy. We closely track macroeconomic indicators and, based on our assessment, determine a suitable duration profile for each mutual fund scheme. Within this framework, we construct a core portfolio and aim to generate alpha through tactical allocations, which we actively manage to take advantage of market opportunities. Overall, our mandate is to prioritize safety and liquidity while consistently seeking alpha generation. What gives you the kick while managing other people's money? The real kick lies in being entrusted with the responsibility of managing someone's hard-earned savings. That trust itself is a powerful driving force.
