"We were mostly dominated by exporters in the portfolio but now it is a good mix of exporters as well as domestic-oriented companies, who have done a lot of good work in branding and generic distribution," he said.
Max Life Insurance will start taking bigger bets on the automobile sector after the introduction and reception of BS-VI emission norms in the country, Mihir Vora, the director and chief investment officer of the company told CNBC-TV18 in an interview.
"In next two months, we will start taking bigger bets on auto. Right now we have gone from underweight to neutral but probably the overweight will come after April when we see the numbers and the price effects of BS-VI," said Vora.
On Max Life's current investment stratagem, Vora said: "As an institution we were underweight on midcaps and smallcaps for a longtime but over the last 2-3 months because of sharp outperformance of largecaps and the sharp underperformance of mid and smallcaps, we have been adding."
On the pharmaceuticals industry, Vora said that earlier there was greater reliance on imports but now domestic firms have come to the fore. "There are a lot of stock specific stories in the pharma space and many of these units are now coming out of the problems as we have. We had a good three years of underperformance in which companies have had the time to correct their mistakes, set their processes and production facilities right and we are beginning to see the results of that now.
"The change from 3 years back is that 3-4 years ago we were mostly dominated by exporters in the portfolio but now it is a good mix of exporters as well as domestic-oriented companies who have done a lot of good work in branding and generic distribution," he said.
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