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What is the story about?
Bajaj Asset Management is repositioning its portfolio to account for higher crude prices, elevated interest rates and the next phase of the artificial intelligence (AI) investment cycle.
"The crude oil market is now pricing in much longer conflicts... which means you will see higher crude prices, higher interest rates, and now we need to position the portfolio for that," Nimesh Chandan, Chief Investment Officer at Bajaj Asset Management Limited, told CNBC-TV18 on Sep 28.
The mutual fund house, which had assets worth ₹39,660 crore ($4.1 billion) at the end of August 2026, has picked up stocks from private banks, pharmaceuticals, and large insurance companies, with a preference for large-cap stocks over small caps.
The call to buy insurance stocks runs counter to the massive sell-off, triggered by the sweeping regulatory changes proposed by the regulator. However, Chandan believes large companies with diversified channels and products will actually benefit. "For example, instead of push, there could be a pull demand coming for term products; unit-linked insurance products (ULIPs) may continue to do well," he added.
According to him, valuations for these companies have fallen significantly over the last two years, ahead of distribution changes. A couple of months earlier, CNBC-TV18's Yash Jain had highlighted the dwindling multiples for some of the country's biggest insurers despite stupendous growth over the last decade.
Chandan said his fund house identified artificial intelligence (AI) as a structural theme as early as 2023 and invested across power equipment, wires and cables, transformers, renewable energy, and commodities such as copper and silver that stand to benefit from the AI infrastructure build-out.
In recent weeks, Bajaj AMC has changed its approach to focus on businesses that can use AI to improve productivity, margins, and market share.
For the full interview, watch the accompanying video
Catch all the latest updates from the stock market here
"The crude oil market is now pricing in much longer conflicts... which means you will see higher crude prices, higher interest rates, and now we need to position the portfolio for that," Nimesh Chandan, Chief Investment Officer at Bajaj Asset Management Limited, told CNBC-TV18 on Sep 28.
The mutual fund house, which had assets worth ₹39,660 crore ($4.1 billion) at the end of August 2026, has picked up stocks from private banks, pharmaceuticals, and large insurance companies, with a preference for large-cap stocks over small caps.
The call to buy insurance stocks runs counter to the massive sell-off, triggered by the sweeping regulatory changes proposed by the regulator. However, Chandan believes large companies with diversified channels and products will actually benefit. "For example, instead of push, there could be a pull demand coming for term products; unit-linked insurance products (ULIPs) may continue to do well," he added.
According to him, valuations for these companies have fallen significantly over the last two years, ahead of distribution changes. A couple of months earlier, CNBC-TV18's Yash Jain had highlighted the dwindling multiples for some of the country's biggest insurers despite stupendous growth over the last decade.
Chandan said his fund house identified artificial intelligence (AI) as a structural theme as early as 2023 and invested across power equipment, wires and cables, transformers, renewable energy, and commodities such as copper and silver that stand to benefit from the AI infrastructure build-out.
In recent weeks, Bajaj AMC has changed its approach to focus on businesses that can use AI to improve productivity, margins, and market share.
For the full interview, watch the accompanying video
Catch all the latest updates from the stock market here
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