B&E: Still only a small portion of the population invests in MFs. So, with such huge potential remaining untapped in the market, what do you intend to do? Kurian: We are continuously doing investment education programmes. Thanks to you media people also! All the 35 members promote knowledge. They keep on doing campaigns. There is expansion in terms of branches, recruiting & empanelling more distributors. Six years ago we took this initiative to prescribe a course for distributors. One who goes up to you, has to be knowledgeable. So fund houses are working on new products, new delivery system, new service system & new methods of reaching people.
B&E: How do you view domestic mutual fund industry vis-à-vis the global one?
Kurian: In terms of regulation, standards, transparency, disclosure, service, quality, time and delivery we are well up with international standards. There are areas in which we do lack.
B&E: But then the market penetration is much more globally!
Kurian: Yes, because they are small countries, they started early and we started in 1993, we have been here just for 15 years. Before that, there was only UTI and other public sector MFs.
B&E: Tell us something about the dual role of AMFI and SEBI in this sector.
Kurian: We are complimentary to each other. We are the eyes, ears and voice of the industry. We see, we hear and we speak. We provide SEBI our inputs – we study what’s happening elsewhere in the world, we study and understand what is required for our country. Just to cite an example, the offer document which was previously a 140 page book is now a much smaller, more meaningfully complied and readable.
B&E: How do you view domestic mutual fund industry vis-à-vis the global one?
Kurian: In terms of regulation, standards, transparency, disclosure, service, quality, time and delivery we are well up with international standards. There are areas in which we do lack.
B&E: But then the market penetration is much more globally!
Kurian: Yes, because they are small countries, they started early and we started in 1993, we have been here just for 15 years. Before that, there was only UTI and other public sector MFs.
B&E: Tell us something about the dual role of AMFI and SEBI in this sector.
Kurian: We are complimentary to each other. We are the eyes, ears and voice of the industry. We see, we hear and we speak. We provide SEBI our inputs – we study what’s happening elsewhere in the world, we study and understand what is required for our country. Just to cite an example, the offer document which was previously a 140 page book is now a much smaller, more meaningfully complied and readable.
B&E: At times one has found certain discrepancies between the data sources of SEBI and AMFI. How do you explain this discrepancy?
Kurian: No, no! There is no discrep- ancy at all. In the past, there might have been some but today it is not there for several months now.
B&E: Over the years, how has the Indian investor perception towards mutual funds evolved?
Kurian: People have realised that they need to look at capital market. They cannot remain in the traditional mode of investing only in a bank.
B&E: A lot of investors have seen their NAVs erode significantly in the last few months and this has really disillusioned the retail investor. In the aftermath of this, what is your advice to them?
Kurian: If one is a long-term investor, then this is the right time for him to invest. By long term I mean 3-5 years and beyond. The Indian growth story is strong and sustainable not only for 1-2 years, not for 5-10 years but for decades to come. That is the reality of our country. High inflation is only a current phenomenon. There cannot be zero inflation & 8-9% growth. It cannot be either or. It is a complement & we must accept that.
B&E: What’s next for the Indian mutual fund industry? What can the market expect from AMFI in the coming days?
Kurian: We expect high growth to sustain over a long number of years.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
Kurian: No, no! There is no discrep- ancy at all. In the past, there might have been some but today it is not there for several months now.
B&E: Over the years, how has the Indian investor perception towards mutual funds evolved?
Kurian: People have realised that they need to look at capital market. They cannot remain in the traditional mode of investing only in a bank.
B&E: A lot of investors have seen their NAVs erode significantly in the last few months and this has really disillusioned the retail investor. In the aftermath of this, what is your advice to them?
Kurian: If one is a long-term investor, then this is the right time for him to invest. By long term I mean 3-5 years and beyond. The Indian growth story is strong and sustainable not only for 1-2 years, not for 5-10 years but for decades to come. That is the reality of our country. High inflation is only a current phenomenon. There cannot be zero inflation & 8-9% growth. It cannot be either or. It is a complement & we must accept that.
B&E: What’s next for the Indian mutual fund industry? What can the market expect from AMFI in the coming days?
Kurian: We expect high growth to sustain over a long number of years.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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