Now isn't time to take calls on asset allocation: Vetri Subramaniam

He is the new Group President and head of equities at UTI Asset Management

In his first interview after assuming office as Group President and head of equities, UTI Asset Management, Vetri Subramaniam spelt out some of his concerns on Indian equities. He tells Hamsini Karthik that while valuations aren’t frothy, it is certainly outside the comfort zone. Edited Excerpts:

With the Sensex at over 32,000 some are calling it signs of froth. How you read these signals?

Numbers shouldn’t matter as much as valuations should. From that perspective, India is certainly no more a cheap market. It is a market in which valuations have moved up quite a bit. From mid-2013 when India was reckoned