The Indian market is at an "inflexion point", with the economy moving from high inflation-low capex--weak currency dynamic to a low inflation-strong capex-stable currency one, says ace fund manager Prashant Jain, CIO of HDFC AMC. This, he says, has implications for active investors managing their own portfolios: "What's worked for the past five-seven years may not work now," he said at the Cafemutual Conference Wealth Management. Sankaran Naren of ICICI AMC, also part of the roundtable, agreed with Jain's view, saying that capex should see a revival and this made market attractive from a two-three year view.
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