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We currently advise portfolios worth ₹1,200+ crore, helping people work towards financial independence.
Ajay Tyagi is the Head of Equities at UTI and brings over 26 years of investing experience in Indian equity markets. At UTI, he oversees roughly ₹2.5 lakh crore in assets under management across multiple equity mutual fund schemes, making him responsible for allocating capital at scale across India’s public markets.
In this conversation, Ajay explains how professional investors think about managing money compared to retail investors. He breaks down the fundamentals of asset allocation, how to balance equities, fixed income, and gold in a portfolio, and why diversification across global markets can be important for long-term wealth creation.
The discussion also dives into the sectors Ajay believes could shape the next decade of investing in India. He shares why consumer-facing technology platforms could produce large winners, how electronics manufacturing is emerging as a major opportunity due to global supply chain shifts, and why consumer discretionary spending and healthcare could benefit as India’s income levels rise.
Along the way, Ajay also shares practical lessons from his 26-year career in investing, including the framework he uses to evaluate businesses, the metrics he trusts the most, and the biggest behavioral mistakes investors make during bull markets.
If you want to understand how professional fund managers think about markets, risk, and long-term investing, this episode offers a clear and practical perspective.
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Sharan Hegde is a personal finance creator & founder of the 1% Club, simplifying money, markets, and mindset for India’s next generation of wealth builders.
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Timeline:
00:00 – Precap
01:09 – Introducing the guest: Ajay Tyagi
01:40 – Why do you need a fund manager?
02:29 – Willingness vs ability to take risk
08:09 – Should you invest in the European market?
09:34 – Ajay’s views on real estate
13:36 – Should you invest in gold?
17:24 – Where else should you allocate your money?
18:02 – UTI’s successful investment in Zomato
22:07 – What sectors look promising?
25:01 – Every investor needs to know this to be successful
27:14 – Future of quick commerce in India?
32:23 – Government’s push to the electronics manufacturing space (EMS)
35:48 – Curse of having natural resources in a country
39:35 – Are there no discretionary spending brands coming up in India?
41:22 – Ajay talks about the future of the automobile industry
43:26 – What to expect from the healthcare sector?
46:59 – Ajay’s prediction on the defence sector
53:38 – Rapid fire round
01:01:41 – Ending notes
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his suggestion covers all. you can confirm it wont fail. but will it give profit
Why am I sensing sunil gavaskar voice when he is talking
Very Excellent
What a knowledgeable person. His calmness and clarity in response is superb. Thanks sharan
Superb breakdown! Ajay sir ne Stocks aur Gold ki baat toh sahi ki, par kya 2026 ke High Inflation scenario mein ₹1 Lakh ka 'Emergency Fund' pehle priority nahi honi chahiye? Sharan, agle episode mein 'Debt Instruments' aur 'Liquid Funds' par bhi aisi hi deep-dive discussion banti hai
Thank you for the excellent podcast Tyagi ji and Sharan ji🙏
how gold peaked s&P 6600 and gold 5000 its not even 1
अगर कोई ₹1000 monthly invest करे तो 15-20 साल में कितना fund बन सकता है?
US is a war criminal India is a communally divided country with votings cast in return for freebies. Most countries have leaders funded by rich business groups. What democracy are you talking about? 😂😂😂😂😂😂
Excellent video❤
Wonderful insight,,,
Next 1 lack should go in LGP CYLINDERS, it will double in just a week
Infinite CAGR
😂
Kya tum itna bara bara podcast karta hai
🙏🏻
Can we have Neil Parikh Or Rajeev Thakkar next? Everyone who agrees 👍🏼
Most so called equity masters against real estate… But reality of real estate returns are far greater than equity returns most of the time in the mid and long term….and these guys do not accept the volatility and risks in equity… They are just gaga on equity…
Sharon , excellent podcast . Please do make one for how to invest in global markets being an Indian
Hi guys, I just wanted to know your opinion on this. I have land worth ₹5 crore. I’m thinking of selling it and investing the money in equities because the money is currently locked in the land and I need liquidity.
Sharan Y do u only bring those people who have made money from stock market and not those who lost that podcast will help more to know what not to do since everyone tells only what to do . As u have the audience base u can be the one to do that .
Masterpiece discussion 👏
The commodity stance is very different from Rajeev Thakkars Parag Parikh Flexi Cap which invests in 6% allocation in Coal India.
My stance is Coal is here to stay for at least 2 decades. The green initiatives might take longer than anticipated
Thank you again for this insightful podcast
Very respectable guest . Thanks Sharan.
This is quite insightful 👍
Sir currency depreciation is a big problem I am an nri after watching your video did motivated me to invest into indian stock market via mutual funds if you can get a detailed videos about this concern how nri’s should make their portfolio keeping this thing in mind that their dollar value will depreciate in ruppee terms. Please bring Mr Sanjay Kathuria in your next podcast because they do talk about it alot.
Poor or rich, even with $282K monthly I'm not satisfied because everything is money and more of it comes more problem But your video genuinely brought a smile to my face. Thank you for that
They won't tell why they can manage better😂😂 which is early access to information. Information is the key 🗝️
Market fall mein kaise equity mein invest kare uska practical tareeka bataye taki loss na ho
Very interesting conversation.
Hi sharan next time ask about joint holding accounts pros and cons
Very useful conversion and gave good insights.
A masterclass in disciplined thinking—pure logic over market hype.
The guest is quite experienced and knowledgeable. I now have lots of respect for these fund managers. They are very smart
Nice to watch and informative. Had to wait 45 minutes to see the host smile. Better to see the host as a student, not a headmaster 😊.
Why I am little skeptical about the car numbers being compared to other countries is our infra is no where close to the countries compared. We do not have roads to accommodate a lot more cars. They'll mostly be replacement demand than new cars the infra can accommodate. Unless tier 2 really picks the burden of growth, it's unlikely this number can go up drastically. What I feel will go up is demand for cars over 20 lakhs, 30 lakhs and 40 lakh. The premiumization theme
Nice information
An interesting observation. If you look at / hear recommendations made a year ago, NOT ONE astrologer / analyst was recommending investment in precious metal barring the typical 5-10% allocation.
Came for ‘where to put 1 lakh,' left with guilt for keeping it all in a savings account. Love how this episode makes even a confused investor like me feel slightly more intelligent about asset allocation!
We have two natural resources on a global scale – iron ore and coal. We also have huge aluminium deposits.
I learned from this roce is more important in selecting stocks
Great insights on the equity split. Now, what’s the best strategy for the debt portion of the portfolio? Which instruments should we be looking at for that 30% allocation?
Forget everything and invest in gold.
100 minus age is a pretty outdated formula for asset allocation
Very healthy conversation🙌🏼