India, the world’s fifth-largest economic superpower, is poised to reach a watershed moment when mutual fund assets reach the “40 trillion mark,” capping three decades of hard work in the areas of investor education and strong performance records. Moneycontrol, India’s largest financial news platform and the leading digital platform of the Network18 group celebrated the 36th birthday of the Indian mutual fund industry by hosting the first-ever Moneycontrol Mutual Fund Summit: Targeting 100 Trillion. On December 14, the summit took place at the Four Season Hotel in Mumbai.
The titans of the mutual fund industry participated in the summit with enthusiasm. Financial advisors, distributors, and investors were among the attendees that evening, in addition to regulators, CEOs, and CIOs of mutual funds. Ananta Barua, a Whole Time Member of SEBI, gave the opening remarks at the event. In his history of the mutual fund industry in India since its founding in 1953, Barua made several cautionary points about how to keep the industry’s growth trajectory. Mutual fund managers shouldn’t take unnecessary risks, he said. The SEBI’s main point is that mutual funds must address every type of risk they encounter. He emphasized how carefully thought-out regulations are designed to reduce and eliminate all possible risks.
Usha Thorat, Chairperson of the SEBI Mutual Funds Advisory Committee and Former RBI Deputy Governor, echoed Barua’s sentiments and discussed the industry’s phenomenal post-Covid growth. “The CAGR for household investment in mutual funds is over 32%. The figure suggests that our fiduciary duty has become more significant. Independent directors must pose the appropriate inquiries to address any potential conflict of interest sources, according to her.
From $40 trillion to $100 trillion was the title of the CEO Panel, which echoed the theme and goals of the event. Opportunities and difficulties. Kayezad E. Adajania, Editor-Personal Finance, Moneycontrol, moderated the discussion. The panelists included Sreekanth Nadella, MD & CEO of KFin Technologies, Radhika Gupta, MD & CEO of Edelweiss AMC Ltd., Neil Parikh, CEO of PPFAS AMC, and Navneet Munot, MD & CEO of HDFC AMC Ltd.
The speakers discussed the profitable expansion of AMCs, the significance of having the proper value system, openness, ethics, investor focus, and product innovation. “The next group of investors will account for the bulk of growth over the next seven years. More significant than product alpha is investor alpha. The main concern, according to Munot, is how to persuade more and more investors of the value of long-term investing through compounding. Regarding talent management, Gupta stated that “margins in the mutual fund industry are declining while costs for talent and compliance are rising.
On the Moneycontrol website as well as on various social media networks, the Moneycontrol Mutual Fund Summit – Targeting 100 Trillion was also live streamed. Together with Reliance Industries Limited, Abhi Loans, Edelweiss Mutual Fund, White Oak Capital Mutual Fund, Mirae Asset Financial Services, Canara Robeco Mutual Fund, Union Mutual Fund, and Funds India as event partners, KFintech co-presented the event.
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