Aman Chowhan of continues to like private banks and has added non-fund-based financials like wealth management companies to the portfolio. The recent correction in the market is seen as profit booking after strong gains in the past months. Chowhan believes that the correction is more of a technical than a fundamental reason. In terms of sector allocation, the portfolio has increased exposure to non-funded financials and remains selective on large PSU banks. The fund manager is confident that FIIs will continue to invest in India due to the country’s growth potential and lack of other investment opportunities.
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