It will be tougher to generate market-beating returns over medium term, says ICICI Pru AMC’s Shah

The Indian market is entering a phase of subdued returns over the medium term as it will be tougher to generate alpha or excess returns over an underlying benchmark, according to Anand Shah of ICICI Prudential Asset Management Co. "I think the biggest event (ahead) will be the end of the 90-day tariff pause— that remains the key event,” said Shah, chief investment officer-portfolio management services and alternative investment funds at India's second-largest asset manager. Also Read | ICICI Prudential: Street is pinning hopes on margin recovery The real challenge for equities is sentiment and behaviour, he said. While corporates…