Sunil Singhania is the CIO - Equities, Reliance Capital Asset Management Ltd. By qualification, Sunil is a CA & CFA and has a total experience of over 21 years and over 12 years with Reliance Mutual Fund. Before his association with Reliance Mutual Fund, Sunil gained considerable experience on the sell side in Indian equity markets. He is first from India to be elected as the Director on the Global Board of Governors of CFA Institute, USA. Sunil was the Promoter of The Association of NSE Members of India; a body of stock brokers. He was a member on the Standards & Practice Council of the CFA Institute, USA, for 6 years, the first and only member so far based in India to do so. Sunil was the Founder of the Indian Association of Investment Professionals, the CFA India society and was its President for a continuous period of eight years. Having travelled extensively across the world, Sunil has attended many global investment conferences and seminars.
2015 has been a mixed year for Indian financial markets. While Nifty/Sensex have returned small negative returns in 2015 YTD, broader market returns have been much better. As equity investors, we all naturally look at the future prospects. At this time of the year, we get inundated with various strategy reports for 2016, making it almost impossible for each one of us to go over all of these reports.
To simplify, we have tried to compile views of all major broking houses in a very simple and concise form in the attached document. Views both on global economy and markets as well as Indian economy and markets are presented. Views of some renowned global experts and independent thought makers are also provided. I am sure you will find the same useful.
In a low growth World, Indian equities stands out amongst the best placed as a) Indian macro recovery would certainly gain traction in 2016, b) After years of sluggishness; we could witness meaningful sustainable earnings recovery in 2016 as the dual impact of operating and financial leverage favourably plays out.
In our last year's “Year Ahead 2015” we suggested that investors should “STAY POSITIVE”. While 2015 have given only modest returns, we believe it is a case of returns being delayed rather than denied. On the back of improving prospects and superior returns opportunity at hand in the year ahead, we reiterate, “STAY POSITIVE”.
Please have a look at the attached compilation - Download