New Delhi, Oct. 22 -- Saurabh Mukherjea has a simple message for investors in Indian equities: it's time to look beyond. The chief investment officer and co-founder of Marcellus Investment Managers believes that with jobs in India drying up because of the US tariffs, consumption slowdown, and tepid corporate earnings, it "will be tough for a market already trading at record-high valuations to move any further".

Mukherjea's solution: A balanced portfolio-one-third each in Indian equities, US smallcaps and midcaps, and gold.

In this interview with Mint, Mukherjea, one of India's most closely watched fund managers, also discussed the US tariffs, its impact on Indian jobs, and domestic sectors where he still sees opportunities. Edited excer...