This top Fund Manager turns cautious, hedges almost 80% of the portfolio

Reliance Industries, SBI, Cipla should do well because of the moats they have, along with big cash reserves, Nikhil Kamath, co-founder and CIO True Beacon and Zerodha, said in an interview with Moneycontrol’s Kshitij Anand.edited excerpts:Q) After a sharp rally of over 50% since March has the rise become too hot to handle? What is your hedge fund strategy?Close A) In so many ways, the current rally has kind of run ahead of the fundamentals. I think businesses on the ground are not doing too well.Nikhil KamathCo-Founder & Head of Trading|Zerodha D-Street Talk podcast | It might not a bad idea to stay in fixed income or cash: Nikhil KamathThe Market Podcast | Add tax-free bonds and gold to portfolio; IT and pharma safe bets: Nikhil KamathHeads up! Rising NPAs in PSB is impacting India’s fiscal deficit; here’s whyBut, the stock prices do not seem to be reflecting that. This could be because of excess liquidity or falling interest rate cycle, a plateauing real estate sector, and many other factors.But, personally, I’m a bit sceptical and circumspect about the short-term expectations that people might have from the market.At the current juncture, as a fund, True Beacon One (manages about $3 billion)… Read full this story

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