Equities to remain attractive bet in FY23: Srinivas Rao Ravuri, PGIM India

Despite record outflows of Rs 1.42 trillion in fiscal 2021-22 (FY22), PGIM India MF sees India as an attractive destination for foreign investors considering the long-term structural growth story.

Despite record outflows of Rs 1.42 trillion in fiscal 2021-22 (FY22) by foreign portfolio investors' (FPIs), SRINIVAS RAO RAVURI, chief investment officer at PGIM India Mutual Fund, tells Lovisha Darad, that Short duration and corporate bond funds that are managed actively and run for lower duration are best suited to ride the change in interest rate cycle. Edited excerpts:

What is your return expectation from the markets in FY23?

We are currently in a consolidation phase. There are too many moving parts at this point. The end of war in Ukraine may happen soon, but that will not end