Investing only in the oil and gas sector was not a prudent choice

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always faced heavy subsidies and thus under-performed. Also, with changing government regulations there was little clarity one could get on the sector's future and hence we moved out of this sector. Also, all oil marketing companies were constantly under pressure due to these cuts and reductions by the government and hence yielded very poor results. The same does not hold true for companies like ONGC though, and they continue to be a company with tremendous potential and remain a good investment.

Which of the other related sectors are you targeting?

As of now we have not decided only on a few sectors and our objectives on this cannot be clearly described thus. However, some of the other sectors that we are targeting are oil and gas ancillary firms, the coal mining industry, machineries and drilling, electricity. Depending on future market conditions, we will constantly shift focus to what sectors we feel will yield the best returns. We have been conducting constant research and value-based indexation within the fund and keeping these in mind we will make sure our investment portfolio is always current and return-oriented.

Has the global instability and slowdown had an impact on the Indian power sector?

While global markets have been showing a lot of erratic movement recently, their effect on India as of now will be limited. This is because all our future projects; through which we see potential, will start yielding high results in about 3 to 4 years time. Thus the slowdown will not have any major effect on the power sector as we are very future-oriented.

How has the fund been faring?

This is an open-ended fund and while it's still too early to comment, it has done reasonably well. Our only form of comparing is the energy index and our fund has more or less remained in tune with it. Overall I feel we have outperformed the energy index and are looking to do far better in the future.

When do you see this sector giving back good returns and what term perspective should investors keep?