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Business News/ Money / Personal Finance/  Prioritize topping up emergency fund: Swarup Mohanty

Prioritize topping up emergency fund: Swarup Mohanty

Swarup Mohanty, CEO of Mirae Asset Mutual Fund, is shifting from debt to equity to maintain his asset allocation and may top up his emergency fund

Photo: iStockPremium
Photo: iStock

Swarup Mohanty, chief executive officer of Mirae Asset Mutual Fund, walks the talk when it comes to his own money. He spoke to Mint as part of a special series, where industry leaders are sharing how they are handling their personal finances in these difficult times.

Given the current market scenario driven by the covid-19 pandemic, Mohanty, is looking to increase his overall equity allocation.

As much as 85% of his personal portfolio is invested in schemes of Mirae Asset Mutual Fund, one of India’s fastest growing mutual funds.

Mohanty stays away from small-cap or international funds, areas that his fund house is not big on. He also avoids investing in gold. According to him, since he is from the eastern part of India, the family has enough gold jewellery already.

When it comes to real estate, Mohanty owns a self-occupied house but does not consider it as an investment.

How Swarup Mohanty is handling his personal finances during these times
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How Swarup Mohanty is handling his personal finances during these times

The covid-19- driven market correction has had an impact on Mohanty’s retirement goal, but that is something his shift into equity will take care of, he said. For his other important goal, his son’s master’s education, he shifted money to debt instruments well in time.

Mohanty is, however, considering increasing his emergency fund provision from six months to a year of expenses.

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Neil Borate
I head the personal finance team at Mint. I have been writing about personal finance for the past 8 years after finishing two degrees in law and economics respectively. I do what I do, to help the ordinary Indian saver and investor.
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Published: 26 Apr 2020, 06:34 PM IST
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