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PGIM India CIO Naha Holds 20% Cash, Awaits 5-7% Market Correction for Deployment
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CNBC TV18•30-09-2026, 16:08
PGIM India CIO Naha Holds 20% Cash, Awaits 5-7% Market Correction for Deployment
- •PGIM India CIO Aniruddha Naha is maintaining 15-20% cash across strategies, anticipating a 5-7% market correction to deploy capital.
- •Naha's cautious stance stems from global and domestic macro pressures, including crude oil, inflation, and commodity price movements.
- •A 5-7% correction in the Nifty would trigger deployment, with a focus on mid- and small-cap stocks if earnings growth justifies valuations.
- •Key sectors of interest for potential opportunities include capital goods (EMS, bearings, power transmission), healthcare, asset management companies, and insurance.
- •The investment approach prioritizes long-term structural prospects over short-term news, using corrections to reassess valuations and earnings potential.
Key Questions Answered
PGIM India CIO Aniruddha Naha is maintaining a high cash level due to global and domestic macro pressures, including crude oil, inflation, yields, and commodity price trends, while waiting for a 5%-7% market correction to deploy capital.
Naha stated that a 5% to 7% correction in the Nifty index would serve as the trigger for the fund house to start looking for deployment opportunities and building portfolios with a longer-term view.
The fund house focuses on sectors with strong long-term fundamentals and earnings growth, highlighting capital goods like electronic manufacturing services and bearings, as well as healthcare, asset management companies, and insurance.
