From CDMO to aerospace: How Vikas Khemani finds India’s next big themes
A mutual funds development with market-wide reach.
· Economic Times Markets
Now, as Carnelian has ventured into mutual fund business by launching a small-cap fund with a ₹5,000 crore cap, Khemani is focusing on manufacturing, financials and IT while warning investors against confusing market capitalisation with valuation. In an interview, he explains how the fund plans to manage size, assess expensive growth opportunities and position for the next market re-rating.
The analysis
Fund flows and NAV moves show where domestic retail conviction is actually going, month after month.
Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.
Market context
- A market-wide development: it reaches beyond any single stock.
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