Managing Wealth: Look Ahead, Look Wide

CY21 set a record of sorts with almost all asset classes delivering robust returns. The long-term case for investing remains strong for 2022 as well, concerns around valuation notwithstanding.

- V. Keshavdev

THE YEAR 2022 has been a bumper one for the rich and ultra-rich who have invested in the private equity space. Stellar public market debut of new-age tech companies has fuelled interest in unlisted equity of promising start-ups. Fortune India’s panel of leading wealth managers — Ashish Gumashta, CEO, Julius Baer Wealth Advisors India; Atinkumar Saha, head, wealth management, Deutsche Bank; Rajesh Saluja, MD and CEO, ASK Wealth Advisors; Sandeep Das, head, private clients [India], Barclays; Yatin Shah, co-founder and joint CEO, IIFL Wealth & Asset Management — offer a lowdown on the best investment options of 2022. The discussion was moderated by V. Keshavdev. Edited excerpts:

After a record run since the March 2020 low, is the party on the Street now coming to an end?

Atinkumar Saha: I don’t think the party is over yet given the expectations around GDP growth, despite the current supply chain constraints. Also, liquidity is not going to dry up as no central bank or government around the world is aggressively looking to bite the interest rate hike bullet. The only area that the market will keenly look at is earnings growth amid the growing spectre of inflation.

Sandeep Das: The long-term case for investing remains very robust for 2022. We expect global GDP growth of 4.5% and India’s growth is going to be much higher. But the wall of worry changes from GDP growth to CPI. So we should be prepared for more volatility amid higher interest rates and inflation. The way ahead would be sticking to appropriate asset allocation strategy and bottom-up stock picking.