Separating structural trends from cyclical narratives is crucial

Mirae Asset Investment Manager (India) chief investment officer Neelesh Surana is not too worried about valuations, as he believes that there has been some recovery in earnings growth. Surana tells Nesil Staney that there could be a revival in demand—supported by rural growth, falling interest rates, and government stimuli.

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Mirae Asset Investment Manager (India) chief investment officer Neelesh Surana is not too worried about valuations, as he believes that there has been some recovery in earnings growth. Surana tells Nesil Staney that there could be a revival in demand—supported by rural growth, falling interest rates, and government stimuli.

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We follow a disciplined bottom-up stock-picking approach, with a clear focus on quality businesses, and yet available at reasonable valuations. Our selection process rests on three core filters: strong business fundamentals, high-quality management and attractive valuations. Unlike some investors who lean heavily on macro themes or short-term momentum, we maintain a largely sector-neutral stance and let individual company merit guide our choices. We place strong emphasis on avoiding overpriced stocks, regardless of market sentiments or fads. Time-tested investing isn’t about chasing trends—it’s about owning enduring businesses with solid moats. Our top holdings currently include large private sector banks, pharmaceutical companies, metals, and consumer-facing businesses—sectors where earnings visibility and long-term growth are firmly in place.

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