Private banks part of core holdings, says Tata Asset Management
Tata Asset Management believes the slowdown in flows into equity mutual funds in March could be because investors redeemed to avoid long-term capital gains tax (LTCG), said Rupesh Patel, Assistant VP-Marketing.
He added that it may not be a structural challenge to flows.
However, the shift of investments into financial assets from physical assets continues, he said.
Private sector banks continue to remain be in core holdings, said Patel, adding that the story of shift from PSU banks to private banks is a long-term story and moreover, PSU banks have lost market share to private banks.
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