Kotak MF Will Play Realty Space Via Allied Sectors
Kotak Mutual Fund is constructive on real estate but will play the space via allied sectors, Harsha Upadhyaya, CIO-Equity stated. “We are constructive on real estate, but we would like to play this entire uptick in real estate through many of the other sub-segments such as pipes, construction materials, cement and many of those allied segments, which are clearly benefiting from the uptick in the real estate segment. So most of our portfolios, if you look at them, would be overweight on home building and home improvement segments. There may not be so many of the real estate companies in our portfolio, because in real estate, for example, still, the return ratios are quite muted as compared to some of the other ancillary segments,” he said. According to him, there is a need to look at the pharma companies with a bottom-up approach. “For the last couple of quarters, that's what we have been doing in our portfolios as well, to look at from a bottom-up perspective, whether the growth and the valuations are fair and then only one should make entry into such stocks. So overall, it's not a top-down approach at this point of time for us as far as the pharma sector is concerned and we will continue with that,” Upadhyaya said.
Tags : ALLIED Kotak MF Realty Space Allied Sectors