Stocks, gold and debt: Why ICICI Pru’s Dharmesh Kakkad favours a multi-asset strategy now

ICICI Prudential Mutual Fund's Multi-Asset Active Fund of Funds (FOF) is open for subscription until 14 July. Fund manager Dharmesh Kakkad outlined the product's approach, which invests across actively managed equity schemes (30-80%), debt schemes (10-60%), and gold or silver ETFs (10-30%), using in-house valuation models for asset allocation. He cautioned against chasing the best-performing asset class, noting that mean reersion tends to occur and recommending diversified multi-asset allocation given current heightened volatility and moderate return expectations.