Key funds such as HDFC Equity and HDFC Top 100 have underperformed their category averages on a five-year basis (CAGR). Neil Borate spoke to Prashant Jain, executive director and chief investment officer (CIO) of HDFC Mutual Fund to understand the reasons for the underperformance and his overall outlook on the markets and the economy as a whole.
Edited excerpts: Global markets, including India, have seen a meaningful correction. What should investors do now? The current situation is unprecedented, and the world is still in the process of figuring out the medium- and long-term impacts.
For India, impact on the economic growth, incomes—especially for the lower income groups—and the fiscal deficit is likely to be significant.