While Sensex may have surged by more than 25% in the year so far, Leo Puri of UTI AMC says that the return on equities going forward maybe in the range of 10-12%, and investors must look beyond stocks. In an interview to BTVi, Leo Puri, Managing Director of UTI Asset Management Company said, “ One should look beyond equities. There are very good opportunities in debt. Financialization must involve allocation to debt.” Explaining the impact of inflation on return expectations, Leo Puri said, “In the past, in a high inflation regime you believed you could get 20% return on equities, 12% return on bonds. Today, you will get 12% return on equities and maybe 7% on bonds. Globally, return expectations have been aligned lower. In that context, it makes a lot of sense for the households to look at fixed income, and a rebalancing of their overall exposure.”
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