We Took a Sector-Allocation Call in Volatile Times

India's economic growth will only get accelerated because of the tariff situation, says Mihir Vora, CIO of TRUST MF.

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In an interview with Ananya Grover, Vora says he expects a lot of incremental flows to come to India. Excerpts:

Did you expect the correction from September highs?

The recent fall to some extent was expected, but it was quite a long one. It was a staggered fall, I would say. Large-caps actually corrected first, and we saw corrections in mid-caps and small-caps corrected, which had held up quite a lot in December, after January. Then the market started recovering. It has been a very volatile period because of Trump.

What was your strategy in that period?

We did not change the portfolio too much. As a general principle, we don't take big cash calls because they work only half the time. So, you end up probably not adding too much value in the long term. One can do that by sector and stock selection. We also believe that the investor or the distributor or the advisor who has put money in the fund has already done her asset allocation.