Pressure on NBFCs could be attributed to increasing cost of money, says Ashburton’s Jonathan Schiessl

Indian economy is still on recovery path, said Jonathan Schiessl of Ashburton, adding that the current pressure on NBFCs might be attributed to increasing cost of money.

“To us the underlying economy is still improving here (in India),” he said.

When asked about buying in the market, Schiessl who manages Ashburton India Equity Opportunity and China-India Equity Fund, said, “At the end of the day you look at counters, you look at individual stocks and if they are trading at what you consider as good value then we do start to increase position.”

“In markets like this we wouldn’t tend to do entire unit size, for example, in one go. We just take chunks,” he added.