BT500: 'Sound investment, time and patience only way to create wealth,' says HDFC AMC's Navneet Munot

While maintaining their bullish view on the Indian economy and markets, seasoned fund managers Sunil Singhania, Founder, Abakkus Asset Manager, Navneet Munot, MD and CEO, HDFC Asset Management and Swarup Anand Mohanty, VC and Chief Executive Officer, Mirae Asset Investment Managers shared their perspectives on the country’s economic trajectory, growth opportunities and the power of strategic investing at BT500 Wealth Creators Summit in Mumbai. They also said that they believed that India is going to create humungous wealth for investors in the coming years.  

Speaking at a session titled "The Road Ahead for Indian Markets", Singhania said that corporate profits in India are likely to grow at 16-17 per cent over the next 2-3 years. He further highlighted that political concerns are diminishing and India's macro and micro scenarios look promising. He further highlighted that India has the potential to become a major hydrogen exporter. Singhania further advised investors to do thorough research before investment and encouraged investors to be true partners in the companies they choose.

"The wealth India has generated in the last 77 years is will create is the next 7-8 years," said Singhania.

On the other hand, Munot emphasised on the changing landscape of India's investment scene. He said that there is a significant increase in the systematic investment plan (SIP) book from Rs 4,000 crore in 2017 to Rs 17,000 crore at present. 

“Robust track record of funds delivering consistent returns over 25-30 years, transparency, ease of investment through technology and investor education campaigns like "Mutual Fund Sahi Hai" have contributed to the mutual fund industry's growth, witnessing a remarkable increase in assets under management from Rs 1 lakh crore in 2002 to nearly Rs 50 lakh crore today,” Munot said adding sound investment plus time plus patience is the only way to create wealth over a period of time and that if you remove any one of them you cannot create wealth.

“India is creating an economic miracle which is unparalleled in human history,” Munot added.

Mohanty added that India is a structural growth story. He advised investors to buy good businesses at good prices. “Redeem India at your own risk and I have been saying this since 2016,” said Mohanty.