The sharp market correction in recent times, particularly in sound large-cap stocks, has opened up buying opportunities for investors willing to take a long-term bet on India’s prospects . It is this theme that ICICI Prudential India Recovery Fund Series 4, a new fund offer that opened last week, seeks to play. The fund is a three-year (1,099 days) close-ended equity fund benchmarked against the S&P BSE 500 Index.
It proposes to make the most of the fall by investing in 15-20 high-conviction large-cap stocks.
Foreign outflows from the Indian equity market, along with the sell-off in other emerging markets, have led to good large-cap stocks being available for a song. While it is difficult to call a bottom, there is a case for investing selectively in the market.
