Are you in favour of having a multi-asset class in 2023? The equity markets were almost muted last year because of the kind of great returns that we have seen in the past for 2022. It was all about the sectors and some of the stocks performing. Debt was also muted although gold has shone very much. That shine is continuing even in 2023 and real estate has also fared better. In terms of volatility and return in all of these asset classes, how is 2023 going to be?
Your observation is bang on may be in 2022, some bit of this got exaggerated, given the dollar-rupee movement. For example, in gold, the rupee returns for the investor were usually positive. It was in the vicinity of 13 odd percent for the year whereas the dollar return for gold was very similar to a fixed income moderate duration fund would have given.
