New Delhi, May 4 -- While markets swung between corrections, geopolitical tremors and a historic rally in gold and silver, Kalpen Parekh chose not to chase returns-but to rebalance them.

For the managing director and chief executive officer of DSP Mutual Fund, the past 18 months have been less about reacting to headlines and more about respecting cycles. As gold surged to outsized gains, Parekh trimmed exposure to his gold mining fund and leaned more heavily on hybrid strategies that automatically recalibrate equity allocations.

"My philosophy hasn't changed, only prices have," he said-underscoring a disciplined approach rooted in asset allocation, mean reversion and ignoring market noise.

In Mint's annual Guru Portfolio series, DSP MF...