The pharma sector funds are among the top three mutual fund categories in the return chart in the last year. Reliance Pharma Fund is the topper among the pharma funds, with 32 per cent annual returns. Even though the pharma funds are offering great returns, Sailesh Raj Bhan, fund manager, Reliance Pharma Fund, believes that valuations in the pharma space are still at a discount to comparable consumer staple businesses, which makes this space attractive for the long term. Edited Interview:
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