India's largest asset manager SBI Funds Management on Tuesday said they are negative on equities from a shorter-term perspective as valuations have risen above the comfort zone.
"We are not positive on equities. We think valuations are expensive. The market has gone up a lot more than the earnings have grown," said R Srinivasan, Chief Investment Officer (CIO) - Equity at SBI Mutual Fund, at the launch of asset management companies' (AMC) yearly report on the market outlook.
