Investors Looking for Staggered Approach with Margin of Safety

With the next generation's increasing involvement in wealth management, Anuj Kapoor, managing director (MD) and chief executive officer (CEO) of private wealth and alternatives at JM Financial Services, tells Devanshu Singla in an email interview that there is a significant rise in interest in direct opportunities across listed and unlisted equities and in the private debt space. Edited excerpts:

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Given the volatility and geopolitical uncertainty in the past few months, is there a shift in asset allocation of high net worth (HNI)/ultra high net worth (UHNI) clients?

While investors believe in India's long-term growth story and resilience amid global uncertainty, they see near-term risks around the direction of a global trade war. Hence, we see optimism with a hint of caution among investors. There has been no major shift in allocation patterns, but instead of betting entirely on growth and lump sum deployment, investors now prefer a staggered approach along with margin of safety. Commodities as an asset class, particularly gold and silver, and offshore investments for forex diversification have also emerged as strong themes recently.

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