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News From Press Pharma on recovery path becomes a darling of mutual funds

Pharma on recovery path becomes a darling of mutual funds

Source: The Economic Times Jun 13, 2018

Mutual funds are lining up products to invest in pharma stocks that have been battered in the past three years. Mirae Asset and ICICI Prudential have already launched their NFOs in the space, while Aditya Birla Sun Life has applied with market regulator Sebi to start one.

Fund managers believe that share valuations of the pharma sector are cheap, with their protracted underperformance over the past three years leaving room for significant potential upside.

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