Raunak Onkar, a representative from PPFAS Mutual Fund, discussed the impact of global supply chain disruptions on earnings during a recent interview. He noted that geopolitical tensions, particularly from ongoing conflicts, have tightened supply chains, which may reflect negatively on earnings and cash flows in the next few quarters. However, Onkar emphasized that the long-term growth trajectory for companies remains promising, particularly in sectors like financial services and technology. He mentioned that the fund currently holds 19% cash in its flexicap fund, a strategy that allows for both capital deployment and liquidity management. Onkar also highlighted a diversified portfolio, with allocations of 8% in IT, 6% in autos, and 20% in private sector banks. He expressed confidence in the IT services sector's ability to adapt to AI-related changes over time, and noted that while the banking sector faces cyclical pressures, strong structural advantages persist. Additionally, he remains optimistic about the power sector, driven by rising demand from GDP growth and EV adoption, despite regulatory uncertainties affecting the Indian Energy Exchange (IEX).