There’s a lot of action in the markets and the mutual fund industry right now. The markets continue to be volatile on the back of the recent rate pause by the Reserve Bank of India, while debt funds have seemingly shed some of their attractiveness because of the removal of the indexation benefit on long-term capital gains. In a freewheeling chat with Outlook Money, Ajit Menon, chief executive officer of PGIM India Mutual Fund Pvt. Ltd, talks about investors’ strategy in these times, how to create wealth, and the fund house’s future plans The equity market looks volatile and the developed economies appear to be at risk of a recession. How do you interpret this? The markets could remain volatile, but range-bound in the near term. The surprise rate ‘pause’ by the Reserve Bank of India (RBI) because of the weakening of the economy in the near term, and headwinds like persistently high core inflation and the prospects of weak global growth will continue to remain a risk. We remain optimistic about the long-term potential of the markets driven by superior...