We are overweight on FMCG: Vetri Subramaniam, , Religare

Vetri Subramaniam, Head – Equity Funds, Religare Mutual Fund in an interview with ET Now speaks about the FMCG sector

FMCG space is a defensive pack in a volatile market. What would be a right strategy to increase a little bit of exposure to this lot?

This is a sector that we absolutely like for the medium to long term and we are overweight on the consumer staples basket and almost all our funds but having said that the challenge is really the valuations at which they are trading now. The entry points are not particularly attractive. I also think some of these companies could surprise to the downside in terms of margins but attitudinally our approach over here would be more to look for a sell off in this area to further add to the positions rather than to really exit our current overweight position. So we would maintain our overweight position that is really looking at it more from a medium term perspective rather than the short term.