 "Rupee may fall to 70, will stabilise at 65-67: Nilesh Sathe, LIC Nomura")
The rupee will touch 70 but will bounce back since it is undervalued at 65-70 levels,Nilesh Sathe, CEO, LIC Nomura Mutual Fund to Firstpost in an interview.
“Yes, rupee may touch seventy, but it may bounce back again. But, it will not stabilize at 70-75. In my opinion, at the level of 65-70 the rupee is already undervalued. So it should stabilized between 65-67,” he said
He doesn’t expect the yields in the government bond market to rise further as they have already peaked.
[caption id=“attachment_108712” align=“alignright” width=“380”]  Nilesh Sathe, CEO, LIC Nomura Mutual Fund.[/caption]
The benchmark yield had risen to about 9 percent last month after FIIs pulled out of the markets due to growth concerns about the Indian economy.
According to him institutional investors have shifted to direct plans, since such plans boosts NAVs. However, only very few retail investors park funds in direct plans.
He said LIC Nomura has sought the Sebi’s approval to launch a Capital Protection Oriented Fund.
Sathe also said for risk-averse investors the index funds(Nifty/Sensex) are the safest bets.
Watch the full interview above.
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