At Itus, we have not shied away from deviating from the benchmark in terms of sector positioning. We believe an environment like today (possibility of an inflationary boom) necessitates us to invest behind businesses which have strong tailwinds of an inflationary cycle of GDP expansion (what we called Supply side economy facing businesses). Unlike the last decade, where the returns were driven by demand side growth (on consumption), we believe this cycle will be different. This has caused us to position ourselves differently from the index.