00:00Hello, my name is Hora Ji and my name is the CEO of Navi Mutual Fund.
00:08In the future of Navi Mutual Fund, there is a new name and a new name.
00:16Because if you look at Navi's brand, which is the first name of Navi,
00:31it was the first name of Navi.
00:34And this is the last name of Navi Mutual Fund.
00:40As an example, this is the first name of Navi Mutual Fund.
00:46But if you look at Navi Mutual Fund,
00:51we have a new name of Navi Mutual Fund.
01:05foreign
01:06foreign
01:38Thank you very much.
01:41Thank you very much for inviting me to invite you to the show.
02:30Thank you very much.
02:55Thank you very much.
10:00foreign
10:04foreign
10:06So Rajiv Ji, we see products as well that our passive recall value has come.
10:14Today we have 11 passive schemes, which are domestic and international.
10:19But we can't accept inflows because limits are hit.
10:24So there are 13 schemes.
10:26And we see passive as well that these are big indices,
10:31such as Nifty 50 or Nifty 100.
10:32If you want to use passive, if you want to use passive,
10:35if you want to use passive,
10:37just for example, defense fund.
10:41Defense is a big sector.
10:43You can use it to take exposure to investors.
10:48There's no good product.
10:50We have seen investors that need to provide products.
10:54Now, we can be active and passive.
10:57We can be able to invest in international investing.
10:58We can also have products.
11:00So we have to work in passive.
11:02We can have new launches and new solutions.
11:05We can have more than 10 schemes.
11:07We need to grow a team size,
11:09which can help get the same trust-in-law.
11:13We have to grow many new places like this.
11:14We have to support them from the passive values.
11:16And we have to bring those people together a lot.
11:26So we have to do this that.
11:28When we do this,
11:29we have to connect as well to everything.
11:30and the existing schemes are good for us,
11:32Flexi Cap, Vibrate, Large and Mid,
11:34we also see opportunities here.
11:38For example,
11:39in small cap, we don't have a fund,
11:40we don't have a factor based product,
11:44so we don't have it.
11:46We don't want to be active or passive,
11:49whatever the investor needs,
11:51we should bring it.
11:52But we don't need to do that,
11:54if you have a mutual fund or you have
11:5660-70 schemes,
11:57we don't have to understand what the investor needs.
12:00We will draw that.
12:03We will draw that,
12:04but we will be very
12:07measured by the way.
12:10Yes, absolutely.
12:12But we will go active or passive
12:15when the bazaar goes,
12:17it will become investors,
12:19but it will become investors,
12:19it will become investors,
12:20it will become investors,
12:20it will become investors,
12:20it will become investors.
12:50Yes,
12:51there is a lot of interest.
12:51Yes,
12:51there is a lot of interest in the world.
12:51अब भी हम जो कहते है कि street पर क्या चल रहा है लोग क्या सोच रहे कि earnings कितना
12:57बड़ेगा लोगों को लगा था ये साल भी आपको anywhere कई भी 12-15% का आपको earnings growth मिल
13:03जाएगा तो लोग वैसे match कर लेते कि earnings अगर इतने बढ़ रहे हम तो 12-15% market returns
13:09भी मिलेगा पिछले साल से बेतर होगा
13:11But look, when we analyzed this, we saw that in the past, there were such types of events
13:19and in recent times, there were so many wars in this scale.
13:26Now, when we started this scale, people read daily news,
13:29that people say that Trump is saying that two weeks will end,
13:39they will end, they will end, they will end, they will end.
13:41But our view is that, when Russia and Ukraine started,
13:45when they started the war, they didn't end.
13:49So, this is, we can end a little bit of time.
13:56And the expectation of 14-15%,
14:02I think we need to keep some expectations on this scale.
14:08Because if you look at Indian markets,
14:11Indian markets, oil pricing is around $80-$85,
14:19but if this is more than a price,
14:21then the price will be quite a long time.
14:25And then you can see that there is more downside.
14:29So, our view is that we need to make some conservative numbers.
14:32We need to make some conservative numbers.
14:35Because what will happen?
14:36Because what will happen?
14:38People will tell us in the channel or in the reports.
14:42But what will happen?
14:43When things get started,
14:45they will slowly cut our earnings.
14:47So, our analysis should be now.
14:58So, let's look at this angle.
15:04It's easier for us to make some kind of short-term income-like profits.
15:09And then we need to make some short-term income-like profits.
15:20because these markets are very tough for you to get the returns to you.
15:25So, when there was so many years of effort in this team,
15:28and when we look at these markets, we see that we are in the top five,
15:31and we are in the ranking of the top five,
15:33so we have a lot of satisfaction.
15:37Where anyone can see it,
15:39it will go up or down.
15:42So, it gives us a lot of satisfaction.
15:45So, it gives us a lot of satisfaction.
15:50Because we have a lot of satisfaction,
15:55but if we don't have the opportunity,
16:00we will do a lot of satisfaction,
16:00because we are in the first place.
16:01Yes.
16:04So, you can see the opportunity for us.
16:11There is a risk for us.
16:13I am going to say that the volatility is not going to change the way.
16:19How do you think volatility is going to change?
16:23Sir, I have seen some calls earlier in the sectors.
16:30One thing that we have seen that volatility is going to change.
16:37Your portfolio is not concentrated.
16:39I don't want to run this strategy.
16:40You can't run this strategy.
16:42Trump didn't say that we were going to run this strategy.
16:46He didn't say that we were going to run this strategy.
16:48He didn't say that we were going to run this strategy.
16:50Like I said, Russia and Ukraine is not going to run this strategy.
16:54When it happens, nobody knows.
16:57But it was so clear that the times are very tough.
17:00You should have a portfolio of diversified.
17:02You should have to do that.
17:03You should have to do that.
17:04Because one stock is 9-10% so you don't think you will bad.
17:08Because this country will not understand.
17:13Because of all you will predict your portfolio.
17:15And then then you will get full of performance.
17:18We've also seen that we had 65 stock stocks that have done.
17:23However, we had some active goals where we got underweighted.
17:29For a long time.
17:30We were looking at the ground level that we didn't understand.
17:35It's very difficult to understand AI's impact.
17:39All people are just speculating that this will happen, that it will happen, that it will happen, that it will
17:46happen.
17:47But we can't pick it up.
17:49We were consciously underweighted.
17:52We thought that our active product,
17:55we will be very different from the benchmark.
17:59We have to run the active product as well as our index funds.
18:04But for the volatility to play, we had done these things.
18:07We had done a good way in the sector, underweighting and overweighting.
18:11Like our auto ancillaries were overweighted a few months back.
18:16We had a good return.
18:20BSU banks were very good.
18:22We had one of the users who were looking for its results.
18:22So we had the potential we were looking for of the return.
18:27We had a hard time for our。」
18:47To show us how much we were looking for,
18:51we were looking for some that we had to go.
18:51इतना गिरा हुआ है तो आपके शाप से मतलब कहीं लाला चाह रहा है कि यह तो अच्छा गिर गया
18:59यहाँ पर
18:59खरीद लेना चाहिए या अभी ढर लग रहा है कि नीए इस तरह की कॉल्स चल रही है या कोई
19:11से स्टम बना रखाए आपने यह सरु
19:15we have made it that if the long term is less than the average, you can see that the market
19:21is 10 rupees, you have to get 8 rupees, 6 rupees, you have to start to do it.
19:27If you have any manager, you have to say anything, any fund manager.
19:30Is it 10-8 or 6?
19:33Now it is 10-8, but it is not 10-9, but it is not 6.
19:37We will get 6 in a few pockets, but we will be very bottom-up.
19:43We will not be able to get 6 in one sector.
19:46We will get a few pockets in small caps.
19:49We will get a lot of correction in small caps.
19:52If you find a name, you will get a lot of good names.
19:55We will get 6 in today's date.
19:58We will get nothing in business.
20:00Just this is normal.
20:01The small caps are going on, and the stock is not even going on.
20:05It is a good thing and this is a good thing.
20:07You are all right now.
20:09We are all right now.
20:11We are all right now.
20:24We will get better.
20:25We just need timeout.
20:27We will get better.
20:27We will get better.
20:27We will get better.
20:27and we have to get more attractive prices.
20:30But no investor can't do that.
20:33When the bottom will come, when the bottom will come,
20:35when the bottom will come, when the bottom will come.
20:36Better to start at least.
20:39We have to start with the pockets.
20:43But when the correction will come,
20:45it will be very attractive.
20:47It will be very attractive.
20:49There is so much fear in people's lives.
20:52If you have a lot of people who will not invest in a business,
20:57then they will be very attractive.
20:59We will see the full of offers.
21:03Yes.
21:04Is this the way that we have seen?
21:07Now it is that the market itself.
21:09So the market itself is still looking for,
21:11the market itself.
21:17But now,
21:19the market itself is not a market.
21:21that they are not.
21:21And that is the most important thing.
21:24But you will always see yourself every day.
21:29What is March?
21:33March is a little different.
21:39Because what happens in March?
21:41You have to pay for advance tax.
21:45The big investors, institutional investors,
21:48investors who are you know March 2nd of me payseye nikalne lago jate
21:52or who it seasonal behavior hotea investors me
21:54agar abh retail investors pe aate hai
21:57hume march me dikhaay ki SIP discipline to raha hai
22:01SIP kai bhi kam nii hua hai infact bada hai
22:03or ab logo mein Rajiv ji bhoat ye
22:08humara investor awareness
22:10itna achha hogya. Hame itna zayada
22:12itne zayada aajkal channels hai jaha pere investor ho
22:15ko samaj jata hai ki jab market girta hai
22:17hume ko lye lena chahiye, hume ko utha lena chahiye
22:19logo mein wu discipline thoda baut to a chuka hai
22:22lekin aap saai kareho agar ye chalta hai
22:24aur ek ya do maina wu ek point hooga
22:27jaha pere nibesak kehenge ki
22:29yaa apne to kaha ta ki
22:30le lo le lo mera to
22:32meinne to 8 pe liye liya ye to 4 ho gaya
22:34ab to me ab me kya karo ho
22:35ab to me me tumhare baato pe borosat to naihi kar sakta
22:38to ye time bhi aayega
22:40aysa nii ye ki naihi aayega
22:41aur I think wu time pe
22:43hum ab thoda close are raha hai
22:45toh marge ke numbers to at least
22:47humare liye itnei itnei aysa kuch off
22:50nii raha hai, aysa regular hi raha hai
22:52sip books vagire maintain huye hai
22:54lekin ah ah
22:56lekin april mayh mein hume
22:59hume shayat kuch dhek saktay hai
23:00because humare view mein ye
23:02ladaai itnei april mein toh itnei jaldi khatam
23:05toh naihi ho jayegi
23:06just recently abhi mutual fund ki jose category There are
23:16अभी आप से बात करते करते यह मेरे ध्यान में आया है कि आपके परस्पेक्टिव से देखें तो बहुत माइनी
23:26नहीं रखती क्योंकि आप जयादा
23:28पैसे फंड में और वो सब समेट करके एक कैटेगरी के अंदर डाल दी जाती है यह सारी कैटेगरी जो
23:38है वो एक्टिव के लिए हैं हाँ आप आप सही कह रहे हैं बट इसमें हमें यह एक सेग्मेंट आफ
23:48प्रड़क्स इंट्रीउस हुआ है जो लाइफ साइकल वाले फंड है
23:58यूएस में या दूसरे मार्केट्स में कौन से ऐसे प्रडॉक्स है जो आज इंडिया में नहीं है तो यह बहुत
24:03ही बड़ा प्रड़क्ट है यूएस में और यह
24:05बहुत-बहुत ही बढ़िया प्रोडक्ट है आप कोई हैडेक ना निजिए आप इसमे निवेश whisperingौ रह
24:31So, we have got a lot of clarity here in the product, but there is a lot of clarity that
24:39you can have 50% of the overlap.
24:43We have always said that our index funds should look like this, and our active funds should not look like
24:54this.
24:59We have always said that our index funds should look like this, but our index funds should look like this.
25:10So, our index funds should look like this, but our index funds should look like this.
25:20When we go to active, we have to do 20-25 schemes.
25:24We have to manage some schemes, but we have to manage the category.
25:28Yes.
25:57So, how do we look at our index funds?
26:08Yes.
26:11Yes.
26:12Yes.
26:39Yes.
26:39Yes.
26:39Yes.
26:39Yes.
27:05Thank you, Rajiv.
27:06Shukriya.
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