The markets are in a tizzy—a fallout of the war between Israel and Gaza after Palestinian militant group Hamas launched a surprise attack on Israel over the weekend. Oil prices surged and markets tumbled in early trade on Monday, even as the death toll from the Middle-East conflict rose to more than 2,000. For investors, such global geopolitical events typically have a negative impact on their investment portfolios. And that is the reason why financial experts always promote diversification of assets to counter risks. Yet, it is not uncommon for fund managers to allocate 100% of their personal investments in equity. Porinju Veliyath, founder and portfolio manager, Equity Intelligence, does just that. But, his equity portfolio stands apart for one reason. It is concentrated in small- and micro-cap stocks, the most volatile segments in the markets.
The reason for Veliyath’s confidence in the small-caps stems from, what he says, abundant value opportunities in the space. He believes that growth is imperative and not a choice for small companies. He also avers that it is among these small companies that one can find the multi-baggers. Among his small-cap picks, Hindware Homes, Tata Elxsi, CDSL, PDS, Raymond, Gati, and West Coast have proved to be multi-baggers.
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