Describing the market’s performance over the past two years as a “boring phase,” ICICI Prudential AMC Executive Director and CIO S. Naren said at the ET Alpha Wealth Summit on Thursday that the ongoing tug-of-war between mutual funds and foreign institutional investors (FIIs) means investors are unlikely to lose money, but are also unlikely to generate outsized returns.
While delivering the opening address at the summit, Naren outlined five distinct periods in any market cycle, each demanding a different posture. The first is the worst phase of a major global negative event like Lehman Brothers, 9/11, or Covid. A once-in-a-decade opportunity that almost no one actually buys at the moment it presents itself.
