Some fund managers are taking a contrarian approach and betting on IT and pharma stocks these days. They argue that these sectors have hit the rock bottom and they would only go up from here. However, mutual fund advisors are asking their clients to stay away from IT and pharma sector funds for the time being.
"Betting on IT and pharma at this time is not advisable. We don't see any factors promoting the two sectors in the near-term. For retail investors, it is better to stay away from these two sectors for their new investments," says Abhay Shaha, a Certified Financial Planner (CFP).
