Take out lock, stock and barrel from small, mid-caps: S Naren

ICICI Prudential AMC's veteran fund manager S Naren has advised investors against SIPs in small and mid-cap funds. "It is a clear time to take out lock, stock and barrel from small and mid-caps," he stated, adding that the valuations of companies in these funds are "absurd". "On momentum indicators also...mid-caps and small-caps are broken," he said.