Siddharth Srivastava Head – ETF Products & Fund Manager, Mirae Asset Investment Managers (India): We are cautious about higher valuation in US Tech, but continue to remain bullish on AI and AI infrastructure space.
FinTech BizNews Service
Mumbai, 15 December 2025: India enters 2026 with a stronger equity market setup, supported by robust macros, pro-growth fiscal and monetary measures, and GDP growth expected to remain above 7%—setting the stage for a potential earnings recovery.
Neelesh Surana, Chief Investment Officer, Mirae Asset Investment Managers (India), explains: "We remain constructive, as earnings growth is likely to return to a double-digit trajectory post a muted FY26, driven by improving demand, tax cuts, and monetary easing.
With valuations now reasonable and market dispersion low, diversified portfolios are well- positioned to benefit, offering opportunities across sectors. Additionally, the growing presence of high-quality, sector-leading companies within the mid and small-cap space makes a strong case for meaningful allocation.”
Basant Bafna, Senior Fund Manager and Dealer, Fixed Income, Mirae Asset Investment
Managers (India):
“India enters 2026 in a Goldilocks backdrop with Real Growth remaining strong and Inflation
undershooting consensus expectations. With Inflation expected to remain benign and within
RBI’s tolerance band over 2026 and Real Growth above 7%, focus is expected to tilt towards
transmission of rate cuts aggregating 100 basis points undertaken in 2025.
The yield curve remains steep and is expected to flatten during 2026 in segments upto three
years primarily driven by liquidity measures aimed at effective transmission. As such, the
Money Market curve and Corporate Bonds upto three years remain attractive with strategies
relating to accruals and yield curve flattening expected to optimise risk adjusted returns.”
Siddharth Srivastava Head – ETF Products & Fund Manager, Mirae Asset Investment
Managers (India):
"We are optimistic for domestic equities next year and believe corporate earnings growth
will be key for the market revival. We prefer multi cap allocation in broad market category.
In smart beta space, in absence of any strong trend, we suggest diversified factor play. Alpha
and momentum factor may continue to give subdued performance initially, though we
expect it to be less volatile than CY 2025. In themes, we suggest discretionary consumption
for long term allocation. In gold and silver, we remain cautiously optimistic and expect silver
to have more upside though with higher drawdown risk. In international markets, we
continue to prefer allocation in Chinese market and are cautious about higher valuation in
US Tech, but continue to remain bullish on AI and AI infrastructure space. We expect US
market to see broader contribution next year.”
Vaibhav Shah, Head – Products, Business Strategy & International Business, Mirae Asset
Investment Managers (India):
“2026 promises to be an exciting year for Mirae Asset Mutual Fund partners and investors as
we launch innovative and differentiated products on active side (Multi factor/Quant
strategies), provide solution-based Fund of Fund offerings and enter into the SIF space with a
Hybrid SIF Fund.
We are very excited how the GiFT City opportunity is shaping up. We had launched an
Inbound and Outbound Fund and have got a good response from partners and investors
across the globe with 60mn of mobilization. We hope to expand our product basket further
in 2026 with new ideas across retail products in Outbound space, actively managed Inbound
Fund and innovative ETF strategies to be listed on GiFT exchange.”
