5 Questions with Atul Kumar – Fund Manager, Equity

Posted On Sunday, Jan 01, 1950


5 Questions with Atul Kumar – Fund Manager, Equity

1. How would Q4 earnings impact valuations and market movements?
The markets are currently trading at P/E based on growth prospects. To a certain extent, positive Q4 earnings are factored in the current valuations, but there may be some upward movement if earnings surprise.

2. What would drive earnings in the coming quarters?
Since the growth in FY10was relatively modest, there are expectations of 20% plus earnings growth for Sensex companies in this fiscal. The driving force would be the recovery of the capex cycle, infrastructure investments, consumer confidence backed by better hiring and salary growth. .

3. What is the outlook on rising crude oil prices and how would it affect markets?
The recent price rise in crude is not justified by fundamentals as most of developed world continues to remain in a subdued growth phase, thereby depressing the demand for crude. Any significant price rise will have an impact on inflation. .

4. How do you expect European situation to pan out?
There is a deadlock apparently in EU, with reluctance on part of major members to fund Greece. There can be an impact on European banks which hold Greek debt paper, if Greece defaults. .

5. What is your outlook on currency movement in the short-term?
As has been the case recently, we expect the rupee to strengthen against the dollar and euro. Higher capital flows into India, which are likely to continue in India in the near term given its high growth, will lead to appreciation of the rupee. .

This article was first published in DNA Money on Friday, April 9, 2010.

Risk Factors: Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Please visit - www.quantumamc.com/disclaimer to read Scheme Specific Risk Factors. Investors in the Scheme(s) are not being offered a guaranteed or assured rate of return and there can be no assurance that the scheme's objective will be achieved and the NAV of the scheme(s) may go up or down depending upon the factors and forces affecting securities markets. Investment in mutual fund units involves investment risks 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(s). 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 (AMC). The Sponsor, Trustee and Investment Manager are incorporated under the Companies Act, 1956.

Above article is authored by Quantum.

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