India’s capital market growth is being driven by the steady shift of household savings from traditional assets like gold, real estate, and bank deposits toward financial products, according to Anand Shah, Chief Investment Officer – PMS & AIF at ICICI Prudential AMC, which manages about $2.9 billion in funds.

Shah believes that financial services — including insurance, asset management, wealth management, and broking — continue to benefit from this long-running trend.

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Shah has been maintaining a balanced, bottom-up approach for almost a year now.

The portfolio, earlier overweight on manufacturing and corporate banks, has now broadened its focus. “We have upped our exposure to the consumer services businesses, wh

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