HNIs are buying into, not selling, PMS schemes: Motilal Oswal
"We have got inflows on all of these days," Motilal Oswal AMC's Manish Sonthalia says.
The market collapse may have caused some investors to consider pulling out of stocks but such a trend is not visible for high-net-worth individuals (HNIs), says Manish Sonthalia, Head Equities - PMS, Motilal Oswal Asset Management Company.
“The silver lining is that we have got inflows on all of these days. This is heightened maturity on the part of the HNI investors where you have people even looking to buy at lower levels. Even redemptions are few and far in between. So basically we are not seeing too much of a redemption pressure in the PMS,” he said.
Sonthalia said the market, which has fallen over 35 percent in the past one month appeared close to a bottom.
“The silver lining is that in the first instance, we are seeing that Europe, on its part, is seeing a decline in cases and that is helping the markets globally,” he added.
He added that he would look to buy companies with little leverage and sound businesses and managements. "The margin of safety on the prices keeps getting better and better on a daily basis. All this leads me to believe that we may be somewhere closer to the bottom."
"It is a test of nerves. Whoever stays calm in these sort of markets would come out the winner. So if there is firepower left in the hands of investors, in the form of dry powder, they could utilize it in such panicky times,” he further mentioned.
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