Indian markets are currently trading at elevated levels, prompting ICICI Prudential Asset Management Company's Ihab Dalwai to recommend a flexible asset allocation strategy for investors over the next three years. This dynamic approach involves adjusting capital allocation among equities, debt, and commodities based on prevailing market conditions. The goal is to enhance risk-adjusted returns while managing volatility, as relying on a single asset class may expose investors to higher risks. By adapting to market fluctuations, this strategy aims to provide smoother investment outcomes in the evolving Indian financial landscape. Indian markets are trading high. Relying on one asset class is risky. A flexible asset allocation strategy is recommended for the next three years.