FIRST GLOBAL, WHICH has grown to become one of India's leading PMS companies with $600 million (over 5,000 crore) of managed assets, both in India and abroad, has delivered over 187% returns to investors as of February 2024 from its India PMS since March 2020, its first full month of operation. The benchmark Nifty 50 has given 105% over the same period. Devina Mehra, Founder, Chairperson & MD of First Global, says it has always been about delivering results, not stories, for those who trust her with their money. In an interaction with Business Today, Mehra, 59, talks about her company's investment strategies, the use of data and technology to boost investing skills, and the way forward for the industry. Edited excerpts:
As we begin FY25, where are you advising HNIs to invest their fresh funds?
Every investor must look at asset allocation, which determines most of their gains. I never say one must have 100% exposure to equity, even for young investors. Just as in Google Maps, you not only have to put the destination, but [also] the starting point. So, the first thing to find out is: What is your current asset allocation? This is the key, not just for retail but even for family offices or large investors. Equity, fixed income, gold, real estate, and even geographical allocations-all have to be considered before deciding where one must invest next.
Will mid-caps and smallcaps underperform large-cap stocks in FY25?
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