How do you invest when valuations are high? What are the parameters that an investor needs to consider before he decides to invest? Explore the deck where Sorbh Gupta, Fund Manager, Equity, Quantum Mutual Fund answers these questions & more.
www.Quantumamc.com
Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, NSE Tips, BSE Tips, COMEX Tips, PCG Pack and NCDEX Tips. We provide services in equity, commodity and Forex market.
Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, NSE Tips, BSE Tips, COMEX Tips, PCG Pack and NCDEX Tips. We provide services in equity, commodity and Forex market.
Koen De Leus en Philippe Gijsels, Chief Economist en Chief Strategy Officer bij BNP Paribas Fortis, geven hun macro-economische kijk op 2018 en leggen uit hoe dit het ondernemerschap in België kan beïnvloeden. Wat wij alvast onthouden, is dat het komende jaar er best rooskleurig uitziet op financieel vlak.
Canara Bank reported missed the street estimates on net profit for Q2FY18. The NII for the quarter was 0.6% lower than estimated figure of Rs.2800 crore. While Net profit for the
quarter was 20% below the street estimates of Rs.325 crore
Special report by epic research of 03 october 2017Epic Research
Epic Research prepares a special report on a daily basis which provides share market overview to the investors in brief. We aim to serve you best in class financial services at affordable prices.
Business outlook survey of 860 executives in ASEAN and their perspectives on AECTim Hill
A survey of 860 executives from businesses in ASEAN countries in March 2015. Respondents from Indonesia, Malaysia, Singapore, Thailand, The Philippines and Vietnam. The study shows how CEOs and their line managers view the business environment for 2015 and the differences in outlook between them and their counterparts in other ASEAN countries. It also shows how they feel the ASEAN Economic Community (AEC), due to be implemented at the end of this year, will impact their businesses and their country.
Special report by epic research of 13 september 2017Epic Research
Epic Research provides a special report in different segments which is specially prepared by our highly qualified research team. Our daily reports help investors to stay updated with the market news.
Report compiled by: AmCham Singapore & the U.S. Chamber of Commerce. The purpose of the study is to measure business leaders' opinions on prospects for business growth and their perceptions about a series of factors that influence the business environment in the ASEAN region.
TIL Limited. Financial Analysis Crane Manufacturing Company in IndiaZeeshan Mir
Analysis of all the important financial statements from FY2012-13 to FY2016-17. This is my analysis of the financial statements released by the company.
EPIC RESEARCH SINGAPORE - Weekly SGX Singapore report of 13 July - 17 July 2015Epic Research Singapore
Epic Research Singapore have best technical research team, Our research team provide weekly reports on SGX Singapore and SGX Exchange, You can get weekly Favorable Tips & future Strategy for SGX Stocks Market.
Special report by epic research of 02 aug 2017Epic Research
Epic Research is a leading financial advisory company provides daily share market reports on different segments. it provides daily updates to investors as well as it helps investors to boost their performance in the market.
What are the fundamentals underlying the bull run in the equity markets and how do investors position their portfolio to reap returns and minimize downside risks? Find answers to what do investors expect from the future of the equity markets?
www.Quantumamc.com
Koen De Leus en Philippe Gijsels, Chief Economist en Chief Strategy Officer bij BNP Paribas Fortis, geven hun macro-economische kijk op 2018 en leggen uit hoe dit het ondernemerschap in België kan beïnvloeden. Wat wij alvast onthouden, is dat het komende jaar er best rooskleurig uitziet op financieel vlak.
Canara Bank reported missed the street estimates on net profit for Q2FY18. The NII for the quarter was 0.6% lower than estimated figure of Rs.2800 crore. While Net profit for the
quarter was 20% below the street estimates of Rs.325 crore
Special report by epic research of 03 october 2017Epic Research
Epic Research prepares a special report on a daily basis which provides share market overview to the investors in brief. We aim to serve you best in class financial services at affordable prices.
Business outlook survey of 860 executives in ASEAN and their perspectives on AECTim Hill
A survey of 860 executives from businesses in ASEAN countries in March 2015. Respondents from Indonesia, Malaysia, Singapore, Thailand, The Philippines and Vietnam. The study shows how CEOs and their line managers view the business environment for 2015 and the differences in outlook between them and their counterparts in other ASEAN countries. It also shows how they feel the ASEAN Economic Community (AEC), due to be implemented at the end of this year, will impact their businesses and their country.
Special report by epic research of 13 september 2017Epic Research
Epic Research provides a special report in different segments which is specially prepared by our highly qualified research team. Our daily reports help investors to stay updated with the market news.
Report compiled by: AmCham Singapore & the U.S. Chamber of Commerce. The purpose of the study is to measure business leaders' opinions on prospects for business growth and their perceptions about a series of factors that influence the business environment in the ASEAN region.
TIL Limited. Financial Analysis Crane Manufacturing Company in IndiaZeeshan Mir
Analysis of all the important financial statements from FY2012-13 to FY2016-17. This is my analysis of the financial statements released by the company.
EPIC RESEARCH SINGAPORE - Weekly SGX Singapore report of 13 July - 17 July 2015Epic Research Singapore
Epic Research Singapore have best technical research team, Our research team provide weekly reports on SGX Singapore and SGX Exchange, You can get weekly Favorable Tips & future Strategy for SGX Stocks Market.
Special report by epic research of 02 aug 2017Epic Research
Epic Research is a leading financial advisory company provides daily share market reports on different segments. it provides daily updates to investors as well as it helps investors to boost their performance in the market.
What are the fundamentals underlying the bull run in the equity markets and how do investors position their portfolio to reap returns and minimize downside risks? Find answers to what do investors expect from the future of the equity markets?
www.Quantumamc.com
Asset Outlook and Economic View in the Current Market ScenarioQuantum Mutual Fund
Fund managers of Quantum Mutual Fund give their perspective on the asset outlook for the mid-year 2021 for the three assets of equity, debt and gold. Find answers to questions like how is the performance post-Covid 2nd wave? What are the underlying macroeconomic indicators that could determine future prospects? How do you allocate across different assets to mitigate downside risk?
www.Quantumamc.com
Bajaj Finance Q1FY15: AUM growth remained strong at Rs269.4 bn, buyIndiaNotes.com
Bajaj Finance Q1FY15 PAT stood at INR2.11b, up 20% YoY and 16% QoQ (11% above est. of INR1.9b). Strong AUM growth (+40% YoY and 12% QoQ) and stable asset quality QoQ (GNPA/NNPA 1.13/0.27%) were highlights of the quarter. Buy
LIC Housing Finance Q1FY15 performance in line with estimates; buyIndiaNotes.com
LIC Housing Finance’s 1QFY15 operational performance was in line with estimates. Lower than expected Net interest income (3% below estimate) compensated by 5% below estimated opex. Operating profits grew 13% YoY to INR4.97b (in-line).
Persistent Systems Q1FY15: Soft performance, margin headwinds limit near ter...IndiaNotes.com
Persistent Systems’ (Persistent’s) Q1FY15 result was another soft quarter compared to PLe/Consensus’ expectation. We see weak start to the year and near term headwinds to operating margin to restrict upside.
CCL Products: Standalone net sales grew by 4.2% y-o-y; AccumulateIndiaNotes.com
Standalone net sales grew by 4.2% YOY to Rs132.6 crs driven primarily by volumes. Volumes were up 9.6% to 3125 MT from 2850 MT corresponding quarter last year. Vietnamese operations picked up passed with production of ~1150 MT this quarter and volumes sale of ~900 MT. Accumulate.
[FiinPro Data] Kết quả Kinh doanh Q2 - 2019 FiinGroup JSC
Theo thống kê từ hệ thống FiinPro, tính đến ngày 05/08/2019, đã có tổng cộng 894 doanh nghiệp công bố BCTC (chiếm 89.8% vốn hóa trên 3 sàn). Chúng tôi tiếp tục tổng hợp và cập nhật nhanh kết quả như sau:
Tổng quan: Tăng trưởng doanh thu ở mức 6.7% và lợi nhuận cổ đông công ty mẹ ở mức 10.4% so với cùng kỳ. Tuy nhiên, tính riêng khu vực doanh nghiệp (không tính ngân hàng và bảo hiểm) thì chỉ ở mức tương ứng 4.7% và 4.9%.
Theo ngành: Các ngành có tăng trưởng Lợi nhuận Cổ đông lớn nhất so với cùng kỳ là: Bất động sản (67.1%), Viễn thông (42.1%), Bán lẻ (39.5%), Ngân hàng (25.9%).
Nếu quý khách có nhu cầu download thông tin chi tiết, vui lòng liên hệ với chúng tôi theo thông tin bên dưới để được hỗ trợ thêm:
Hà Nội:
Đỗ Thị Lan
Email: lan.do@fiingroup.vn
Tel: 024 3562 6962 (số máy lẻ: 103)
TP. HCM:
Lý Thị Hiền
Email: hien.ly@fiingroup.vn
Tel: 028 3933 3585 (số máy lẻ: 203)
SBI Magnum Equity Fund: An Open Ended Growth Scheme - Feb 2016SBI Mutual Fund
SBI Magnum Equity Mutual Fund aims to provide the investor Long-term capital appreciation by investing in high growth companies along with the liquidity of an open-ended scheme through investments primarily in equities and the balance in debt and money market instruments.SBI Mutual Fund is celebrating 25 years of SBI Magnum Equity Fund.Have a look at our journey and our plan ahead in this presentation.To know more about this product check our website page https://www.sbimf.com/Products/EquitySchemes/Magnum_Equity_Fund.aspx
Find out how the Quantum tax saving fund portfolio is constructed using the value investing style. Learn about the advantages of investing in this fund and lots more.
www.Quantumamc.com
Find out what ESG stands for and what relevance does it play for your equity portfolio? Find out how the Quantum India ESG Equity Fund filters companies based on the proprietary ESG scoring methodology. Explore how the portfolio is constructed.
www.Quantumamc.com
Out of the universe of equity funds, how does an investor select a good diversified portfolio of equity schemes? Leave the fund selection and portfolio diversification to the fund manager of Quantum Equity Fund of Funds that has underlying investments in well-researched diversified equity funds of third party equity mutual fund schemes.
www.Quantumamc.com
Discover the need for Gold in one’s portfolio and explore efficient financial forms of investing in Gold with Quantum Gold Fund ETF and Quantum Gold Saving Fund compared with other forms of gold investment.
Explore the investment philosophy and process used for Quantum fixed income products. Find answers to fund and research objective & portfolio construction process used for the Quantum Liquid Fund and Quantum Dynamic Bond Fund.
www.Quantumamc.com
This fund is designed especially for those who are looking to simplify asset allocation across the three asset classes of equity, debt and gold. This fund can give you a diversified and balanced portfolio allocation while limiting downside risks compared to an equity fund. Explore the process behind the dynamic asset allocation and how does the Quantum Multi Asset Fund of Funds scheme performance compare to traditional saving instruments.
www.Quantumamc.com
Find out the investment criteria and process followed for Quantum’s flagship Fund – Quantum Long Term Equity Value Fund. Explore the portfolio construction and how is it tuned to capture the benefits of the long-term India growth story.
www.Quantumamc.com
2022 Navigate Uncertainty with the Right Asset AllocationQuantum Mutual Fund
Through this deck, find how to navigate uncertainty with prudent asset allocation by dividing investments across equity, debt and gold asset classes to help achieve your goals and minimize downside risks
www.quantumamc.com
3 Assets, 1 Outlook – A Year-End Panel Discussion: Find answers to your concerns around uncertainty surrounding Omicron and inflation and take a deep dive into the macro-economic trends that are set to shape the investment landscape in 2022. It also highlights the Asset Outlook for Equities, Fixed Income and Gold and expectations for 2022.
www.Quantumamc.com
Debt outlook and Asset Allocation: Through this PowerPoint deck, explore insights into Fixed Income and Equity regarding the variables driving current market situation and the outlook for 2022 that will impact mutual fund investments.
www.Quantumamc.com
How do investors achieve financial freedom? How do you establish your financial goals? Understand the benefits of diversification and following an asset allocation strategy.
www.Quantumamc.com
Understand the underlying portfolio composition of fixed income investments such as liquid funds and dynamic bond funds. Also, get details into the fund objective and the process of investment
www.Quantumamc.com
If you are looking to simplify your fund selection process, you could opt for a fund of funds that invest in other equity funds. Get details into how the fund portfolio selection process takes place after qualitative and quantitative research. In addition, this fund offers investors the flexibility of managing and tracking just one NAV and one mutual fund.
www.Quantumamc.com
Where are the equity markets headed and how is the Quantum Long Term Equity Value Fund poised for growth? Find answers through the webinar presentation that take you through the fundamentals that drive the market rally and how investors benefit from the downside protection offered by a value fund.
www.Quantumamc.com
How do investors pick the winning asset class? What is the importance of asset allocation and how do you build an effective asset allocation strategy? Through this deck, find answers to the benefits of equity, debt and gold assets and how does one select mutual funds to fulfill long term goals.
www.Quantumamc.com
The Pandemic taught several lessons to first-time and seasoned investors alike. It reinforced the habit of saving, having a sound financial backup plan for a rainy day and devising a prudent asset allocation strategy. Explore 7 investment lessons that help prepare for the unexpected.
www.Quantumamc.com
Understand the portfolio construction process followed with QMAFOFQuantum Mutual Fund
Quantum Multi Asset Fund of Funds: Understand the portfolio construction process followed with Quantum Multi Asset Fund of Funds. Since ideal allocation is not static, this fund allows you to simplify the asset allocation process. The fund manager dynamically allocates between equity, debt and gold depending on the market conditions. See how it compares to a fixed deposit.
www.Quantumamc.com
Quantum Tax Saving Scheme is an open-ended diversified ELSS (Equity Linked Savings Scheme) that offer you dual benefits of tax savings and capital appreciation over the long term, due to the underlying equity component. Learn about Quantum Tax Saving Fund stock picking and portfolio construction process.
www.Quantumamc.com
Quantum Long Term Equity Value Fund is the flagship mutual fund of Quantum Mutual Fund. The Mutual Fund follows the Value style of investing giving potential for risk-adjusted returns over the long term. Learn more about the fund’s investment process and the bottom-up stock selection process. For product label please click the following link: https://www.quantumamc.com/Product-Label/QLTEVF.jpg
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
when will pi network coin be available on crypto exchange.
Investing When Valuations are High
1. Investing When Valuations are High
Speaker: Mr. Sorbh Gupta, Fund Manager: Equities
November 12th, 2021
2. 2
Vertical Takeoff after the Covid Scare
Source: Bloomberg Finance L.P., As of October 29, 2021, Past Performance may or may not be sustained in future.
*Aug 28, 2013 is the day when the Rupee hit an all-time low and Sensex hit 2013 intra-day low
3. 3
PER Elevated – Will Markets Deliver on Elevated Expectations?
Source: Bloomberg Finance L.P., as of October 29, 2021. Past Performance may or may not be sustained in future.
4. 4
Markets Supported by Consensus Earnings Upgrades After Many Years of Flat Growth
Source: Bloomberg Finance L.P.; as of October 29, 2021 Past Performance may or may not be sustained in future
5. 5
Corporate Profits at an all time High, Expectations of Strong Demand Rebound
Corporate profitability hit a record in Q4FY21 driven by strong revenue growth and strict control on costs
Demand is expected to rebound post unlock driving sales, but higher input costs and normalizing other costs may see profit growth lag
revenue growth
Source: CMIE- Economic Outlook. Past Performance may or may not be sustained in future.
6. 6
Demonetization, GST, Covid: Large Companies Getting Larger
14%
3% 3%
-1%
-7%
-8%
-16%
9%
14%
6%
-5%
-15%
-12%
-18%
-25%
-13%
-17%
6%
16%
5%
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
Paints
Steel
Cement
Ceramic
tiles
Passenger
cars
Two-wheelers
CV
Bank
Credit
AMC
AUM
Gen.
Ins.
Premium
Listed Company Growth YoY Industry Growth YoY
Source : CMIE, RBI, IRDAI
Note : YoY growth in FY21, Volume Growth for manufacturing sectors like
paint,steel,auto etc. Credit growth for private sector banks is compared to systemic
credit growth.
Source: CMIE- Economic Outlook, Data as of March 2021
7. 7
Strong Flows: Fed Tapering Could Act As Pause Not a Full Stop
Period
Net Foreign Activity
(USD bn)
Net Local Activity
(USD bn)
Total Activity
(USD bn)
Change in S&P BSE-30 TRI in
that period (% )
( % USD)
CY 2003 6.6 0.1 6.7 +86.5%
CY 2004 8.7 -0.3 8.4 +20.5%
CY 2005 10.7 3.0 13.7 +40.2%
CY 2006 8.1 3.4 11.5 +51.6%
CY 2007 17.7 1.7 19.4 +67.0%
CY 2008 -12.0 3.3 -8.7 -60.8%
CY 2009 17.5 -1.2 16.3 +90.3%
CY 2010 29.4 -6.1 23.3 +24.2%
CY 2011 -0.4 1.3 0.9 -35.7%
CY 2012 24.4 -3.9 20.5 +24.1%
CY 2013 20.1 -3.7 16.4 -1.9%
CY 2014 16.1 3.9 20.0 +29.2%
CY 2015 3.2 11.1 14.3 -8.1%
CY 2016 3.2 7.1 10.3 +0.9%
CY 2017 7.8 18.4 26.2 +37.8%
CY 2018 -4.4 17.6 13.2 -2.0%
CY 2019 14.4 7.6 22.0 +13.1%
CY 2020 23.0 -7.5 15.5 +14.5%
YTD 2021 7.1 3.9 11.0 +22.4%
October 2021 -1.8 0.8 -1.0 -0.4%
Cumulative 201.2 59.7 260.9 +1381.2%
Source: Sebi.gov.in, NDSL, As of October 29, 2021. Past Performance may or may not be sustained in future.
8. 8
Domestic Institutional Flows Come Back After Second Wave ebbs & Improvement in
Employment Levels
Source: CLSA and Bloomberg Finance L.P., as of October 29, 2021
9. 9
Scenarios To Ponder
Corporate Earnings Liquidity Equity Valuations Equity Returns
Rising Easy High Positive
Rising Tight Moderate Slight Decline
Stagnant/Falling Easy Moderate Slight Decline
Falling Tight Falling Sharp Correction
Most Likely
Scenario, But
Returns may
moderate
10. 10
Markets are Heterogeneous… Well, Most Of The Time
Source: Bloomberg Finance L.P.; based on daily total returns as of October 29, 2021. Past Performance may or may not be sustained in future.
YTD CY CY CY CY CY CY CY CY CY CY CY CY
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
BSE-30 INDEX S&P BSE SENSEX 30 INDEX 25.4% 17.2% 15.7% 7.2% 29.6% 3.5% -3.7% 32.0% 10.7% 28.0% -23.6% 19.1% 83.3%
BSE200 INDEX S&P BSE 200 IDX 30.7% 17.9% 10.4% 0.8% 35.0% 5.4% -0.2% 37.6% 6.2% 33.2% -26.0% 17.8% 90.9%
BSE500 INDEX S&P BSE 500 IDX 32.4% 18.4% 9.0% -1.8% 37.6% 5.2% 0.4% 39.1% 5.0% 33.4% -26.4% 17.9% 92.7%
BSETCD INDEX S&P BSE INDIA Cons.Dur IDX 42.6% 22.2% 21.5% -8.3% 102.9% -5.8% 24.8% 67.3% -23.9% 47.1% -16.2% 69.6% 100.6%
SPBSHLIP INDEX S&P BSE INDIA HEALTHCARE IDX 16.1% 62.6% -2.8% -5.4% 1.1% -12.5% 15.9% 48.8% 24.9% 39.8% -12.1% 35.4% 71.2%
SPBSITIP INDEX S&P BSE India IT IDX 40.2% 60.3% 11.8% 27.3% 13.3% -6.1% 6.4% 19.5% 62.3% 0.7% -14.6% 34.1% 135.9%
BSETECK INDEX S&P BSE India TECK Index 36.6% 46.5% 11.1% 12.4% 18.8% -7.6% 5.4% 18.2% 49.3% 3.0% -15.5% 25.4% 69.9%
SPBSCGIP INDEX S&P BSE India FMCG Index 13.3% 13.2% -2.2% 12.1% 33.3% 4.8% 3.6% 20.1% 12.5% 49.5% 11.7% 35.5% 43.3%
BSEAUTO INDEX S&P BSE India Auto IDX 23.1% 14.3% -9.9% -21.3% 33.3% 10.4% 0.1% 53.8% 8.9% 42.8% -18.6% 40.3% 208.3%
BSEOIL INDEX S&P BSE India Oil&Gas Index 34.4% -0.6% 10.6% -12.6% 37.8% 30.4% -1.2% 14.1% 5.9% 15.8% -28.3% 2.7% 75.0%
BSEPOWR INDEX S&P BSE INDIA POWER INDEX 65.8% 11.4% -0.6% -14.3% 22.0% 3.0% -5.3% 25.5% -12.4% 12.8% -39.1% -5.4% 76.1%
BSETCG INDEX S&P BSE India CapGoods IDX 43.5% 12.5% -8.8% -0.5% 41.4% -2.3% -7.8% 51.9% -4.0% 36.6% -47.1% 10.0% 106.1%
BANKEX INDEX S&P BSE INDIA BANKEX IDX 24.8% -2.1% 21.1% 5.7% 40.0% 8.4% -9.0% 67.1% -8.0% 59.1% -30.7% 35.0% 86.8%
BSEREAL INDEX S&P BSE India Realty Index 61.2% 9.2% 27.6% -30.7% 107.2% -5.3% -12.8% 9.4% -31.2% 54.4% -51.6% -25.7% 70.0%
BSETPSU INDEX S&P BSE INDIA PSU IDX 54.9% -12.8% -1.1% -18.7% 22.7% 16.9% -14.9% 44.8% -16.5% 18.6% -31.6% 1.2% 82.5%
BSEMETL INDEX S&P BSE INDIA METAL INDEX 76.9% 18.4% -10.2% -16.3% 52.8% 43.2% -28.8% 11.1% -7.5% 21.5% -46.5% 2.1% 238.8%
Securities Name
11. Careful Stock Selection & Looking Beyond Noise is Extremely Important
11
S&P BSE-30 Index surpasses previous peaks in INR and
USD terms
ICICI has done well, but still lags the more prudent HDFC
Bank since January 2007
Real estate remains an opaque business: DLF & Unitech
“performed” well in 2007, not over long run
“Boring” retailer Trent has soared compared to the
more flamboyant – and leveraged – Pantaloon…
Source: Bloomberg Finance L.P., data as of October 29, 2021
Disclaimer : Stocks referred above are illustrative and not recommendation of Quantum Mutual Fund/AMC. The Fund may or may not have any present or future positions in these Stocks. The above information of
stocks which is already available in publically access media for information and illustrative purpose only and not an endorsement / views / opinion of Quantum Mutual Fund /AMC. The above information should not be
constructed as research report or recommendation to buy or sell of any stocks. Past Performance may or may not be sustained in future.
12. An Intelligent portfolio can be created from the broader Markets at reasonable Valuations
12
QLTEVF
As % Of
S&P BSE-30 Index
S&P BSE-30
Index**
Number of equity stocks 28 30
Median market capitalization (USD mn) 13,055 37% 34,922
Weighted dividend yield 1.7% 150% 1.2%
Weighted PER: March 2023E 13.9x 74% 18.8x
Weighted EPS Growth: March 2023E 8.6% 52% 16.7%
PEG Ratio (excludes cash) 1.61x 143% 1.13x
T12M PE 23.9x 60% 40.2x
Weightage of stocks with PER > 20 69% 94%
Weightage of stocks with PER > 30 48% 74.4%
Source: Quantum AMC** S&P BSE-30 Index weight is based on free-float.. The figures mentioned in WTD PER, WTD EPS and PEG ratio are calculated on the basis of Bloomberg consensus estimates
for companies owned by the Composite as well as the companies in the S&P BSE 30 as of the reporting date i.e. October 29, 2021. Past Performance may or may not be sustained in future
13. 13
India’s Economy Will Grow > 6% p.a.
6.5% is a good long-term assumption; 8% is NOT a good long-term assumption!
Real Grate across 10 governments has been 6.3% p.a. over the last 41 years DP growth
Source: RBI and www.parliamentofindia.nic.in as of June 2021. Note: The number in red rectangle is from a changed data series starting Jan 2015. While a “superior”
series, there is no comparable number to equate the “New” with the “Old”. Most economists deduct 0% to 1.5% from the “New” to equate to the “Old”; therefore
under Modi, the GDP has been at 5.9% at best matching the 5.6% under the BJP-led coalition government of Vajpayee that resulted in a rout for the BJP at the time
of the next election in 2004!* Please note that data used for World GDP for 2017 is a median Estimate since World Bank data is not yet available and India GDP data
is governments second advance estimate released at the end of August 2021.
14. The Hungry Consumers
14
Year
(March end)
2-wheelers
(Domestic sales Mn units)
Cell Phone
Connections (mn)
Passenger Vehicles
(Domestic sales Mn units)
Refrigerators
(Production Mn units)
Cement
(mn tn)
Home loans
outstanding
(Rs. bn)
2008 8,064,903 225 1.55 6.14 174 2,603
2009 8,439,786 392 1.55 6.72 187 2,794
2010 10,511,009 584 1.95 8.00 207 3,009
2011 13,302,335 812 2.50 8.72 216 3,499
2012 15,384,261 919 2.63 9.91 230 3,971
2013 15,753,563 868 2.67 11.12 248 4,567
2014 16,890,778 905 2.50 10.65 256 5,386
2015 18,433,027 970 2.60 11.95 270 6,285
2016 18,938,727 1,034 2.79 11.86 283 7,468
2017 19,929,958 1,170 3.05 13.05 280 8,601
2018 23,007,691 1,183 3.29 13.50 298 9,746
2019 24,460,688 1,162 3.38 15.64 337 11,601
2020 20,936,201 1,158 2.73 15.0 334 13,498
2021 18,397,111 1,181 2.51 11.2 294 14,591
YTD 2022* 8,762,657 1,187 1.19 4.1 171 14,785
CAGR (2008
to 2021)**
6.5% 13.6% 3.8% 4.8% 4.1% 14.2%
*2022 YTD data, Two-wheeler sales data as on September‘ 21, Passenger Vehicle sales Data as on September’ 21, Refrigerator data as on August’ 21, Cement sales data as on September’ 21,
Housing loans data as on September’ 21, Latest cell phone connections data as on August’ 21 Source: 2 wheeler passenger vehicle and Cement – CMIE database; refrigerator production data –
CMIE (IIP ) database, home loans outstanding – RBI Data on Sectoral deployment of bank credit (October 2021). ** Annualized Returns. Past Performance may or may not be sustained in future
15. Don’t Be Distracted By Global Macro:
Economic Activity Led To A 10x Growth In Earnings
15
Source: CLSA and Bloomberg Finance L.P., as of October 29, 2021
CY 21 and CY 22 are estimate numbers
16. The Market Tends To “Catch Up/Down” To Earnings
16
Source: CLSA and Bloomberg Finance L.P., As of October 29, 2021
CY 21 and CY 22 are estimate numbers . Past Performance may or may not be sustained in future
17. 17
Risks to the Recovery
Low Vaccine coverage increases probability of a third wave. Festive season to start from Sep 2021
Job Losses amongst salaried employees and Rising Inflation may impact consumer discretionary
spend
Since the pandemic began, there has been a reduction in number of employed by 20 million
Inflation in Raw materials and increase in Crude prices may force RBI to raise interest rates
18. Keep 6-24 months of expenses in Liquid Fund, Bank Fixed Deposit to be withdrawn in case of emergency
Trying to Time Markets is a Folly
₹
Please note that the above is the suggested fund allocation only and is not to be considered as investment advice / recommendation, please seek independent professional
advice and arrive at an informed investment decision before making any investments
• Liquid Fund/ Bank Deposit
6 - 24 months
Expenses
• 4-5 Diversified Mutual Funds
Balance Surplus
80% - 85%
• Gold/Gold ETF
15% - 20%
Wealth
Builder
Stress case
scenario
Diversification
18
Simple Asset Allocation Strategy to Deal with Market Cycles
19. Equity Investment is a bet on long term India Story & it looks bright
19
Summary
Yes, Index is expensive, but opportunities are available in the broader market
Earning growth is the long-term driver for equities & after a long time we are seeing earing upgrades
Liquidity environment is benign. However, there could be event-based pause.
Equity investment is a bet on long term India story & it looks bright
There are risks but an intelligent portfolio can manage it well
Asset allocation is the holy grail to deal with market cycles
21. Disclaimer – Terms of Use
The data in this presentation are meant for general reading purpose only and are not meant to serve as a professional guide/investment
advice for the readers. This presentation has been prepared on the basis of publicly available information, internally developed data and
other sources believed to be reliable. Whilst no action has been suggested or offered based upon the information provided herein, due
care has been taken to endeavor that the facts are accurate and reasonable as on date. Quantum AMC shall make modifications and
alterations to the performance and related data from time to time as may be required as per SEBI Mutual Fund Regulations. Readers are
advised to seek independent professional advice and arrive at an informed investment decision before making any investment. None of
the Sponsors, the Investment Manager, the Trustee, their respective Directors, Employees, Affiliates or Representatives shall be liable
for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way from
the data/information/opinions contained in this presentation. The Quantum AMC shall make modifications and alterations to the
performance and related data from time to time as may be required.
Please visit – www.QuantumMF.com to read scheme specific risk factors. Investors in the Scheme are not being offered a guaranteed
or assured rate of return and there can be no assurance that the schemes objective will be achieved and the NAV of the scheme may go
up and down depending upon the factors and forces affecting securities market. Investment in mutual fund units involves investment
risk such as trading volumes, settlement risk, liquidity risk, default risk including possible loss of capital. Past performance of the
sponsor / AMC / Mutual Fund does not indicate the future performance of the Scheme. Statutory Details: Quantum Mutual Fund (the
Fund) has been constituted as a Trust under the Indian Trusts Act, 1882. Sponsor: Quantum Advisors Private Limited. (liability of
Sponsor limited to Rs. 1,00,000/-). Trustee: Quantum Trustee Company Private Limited. Investment Manager: Quantum Asset
Management Company Private Limited. The Sponsor, Trustee and Investment Manager are incorporated under the Companies Act,
1956.
12th November 2021
Mutual fund investments are subject to market risks, read all scheme related documents carefully.