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"A favourable policy climate should go a long way in bringing in sustained foreign capital flows."- S Krishnakumar, Sundaram Mutual Fund

| 12/13/2012 9:00 PM Thursday

S Krishnakumar, Fund Manager – Equity at Sundaram Mutual Fund, shares with Saikat Mitra his views on the capital market, the overall macroeconomic situation of the country and on the sectors we can look to for growth.

“The performance of any stock would be broadly linked to its sector. However, within the sector, stocks tend to relatively outperform or underperform based on their growth, managements, return ratios and free cash flow (FCF).”
Says - 
S Krishnakumar
Fund Manager – Equity,
Sundaram Mutual Fund

How did you begin your journey in the capital market?

It was in 1994 when I had the opportunity to do an equity research project for Kothari Pioneer MF as a part of my final semester project work. Guidance and mentoring by Mr Sivasubramaniam and Mr Anoop Bhaskar was really helpful at that point.

Can you describe your investment philosophy for our readers?

I believe in buying growth at reasonable valuations. I am generally willing to put up with capital guzzlers as long as it is accompanied by profitable growth and positive operating cash flows. My approach is biased towards picking stocks whose underlying business has scale-up potential and is backed by honest and disciplined managements.

What was your first big investment idea, and how did you develop it?

TVS Motors in 2002, Elgi Equipment in 2004, Shasun Pharma in 2011, V-Guard in 2011, KVB in 2009 and Madras Cements in 2011 are some investment ideas which have been satisfying.

Understanding the business, its drivers, financial metrics and continuous monitoring of the expected metrics for reinforcement of the thought process have been the common thread.

 

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