Cheenu didn’t start her career in finance. She began as a coder in an IT company before joining SPJIMR for her MBA—originally choosing marketing. But a first-year exposure to finance changed everything.
That shift not only launched her career in equities but opened doors to meeting CXOs, promoters, and industry leaders, reinforcing her belief that equity markets offer unmatched learning.
Managing a Large & Midcap fund gives her structure but also flexibility:
Her philosophy:
👉 Pick the best companies in each bucket — without obsessing over category boundaries.
A strong midcap often naturally transitions into a large cap. And as long as it retains agility, strong management, and growth characteristics, she continues to hold it (trimmed only for weight balancing).
Cheenu explains midcaps as the “sweet spot” between stability and growth.
But are midcaps overvalued today?
She agrees valuations are high — but warns against choosing cheap companies with weak business models.
Her view:
“It’s better to err on valuations than compromise on business quality.”
Growth differentials between large and midcaps justify some valuation premium.
While many argue midcaps are overcrowded, Cheenu believes opportunity still exists — especially when exploring new themes.
Her fund runs on three buckets:
Themes she is excited about:
On volatility:
“Prices can be volatile, but if the thesis is intact, we stay put.”
She compares it to shifting from the front seat to the back seat when driving — the bigger picture becomes clearer.
Return expectations:
On SIPs:
New investors often check returns too often, getting euphoric or disappointed prematurely.
Her advice:
“Your start can be bumpy, your middle can be bumpy. Stay put and ride the journey.”
Her investing mistakes:
These shaped her philosophy: Buy and hold great businesses; trim only when they get too expensive.
Watch the Full Conversation: Ventura Spotlight with Cheenu Gupta, HSBC
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