Financial Daily from THE HINDU group of publications
Sunday, Feb 12, 2006
Financial Daily from THE HINDU group of publications Sunday, Feb 12, 2006 |
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Investment World
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Mutual Funds Markets - Recommendation Moderate expectations
We remain bullish on the long-term prospects. At this stage of the bull market, there is, however, a need to moderate expectations of returns and be prepared for deep corrective phases. There could be a decline in prices and/or a long period of flat price trends. Manifold gains of the kind seen in a swathe of stocks are unlikely. If the liquidity flow remains robust, there is potential for an upside, but this canstart to take stocks out of sync with fundamentals. Companies also face a challenging task, especially over the next couple of years, in delivering earnings growth that will support and sustain valuation levels. Investors could use systematic investments plans to phase out exposures over a six-to-twelve month period. Our preferred picks: HDFC TaxSaver, HDFC Top 200, HDFC Equity, Magnum TaxGain, Franklin Prima, Reliance Growth, HDFC Long Term Advantage, DSP ML Opportunities, Franklin Bluechip and Prudential ICICI Tax Plan.
S. Vaidya Nathan
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