In an interview with CNBC-TV18, Sunil Subramaniam, CEO of Sundaram Mutual Fund discussed the mutual fund (MF) industry wish-list and their expectations from Budget 2018.
The government should recognize the fact that there is renewed interest in MFs from retail investors, he said.
MF industry has received inflows of Rs 3.3 lakh crore in the last three years. The country should channelize this money for financing the infrastructure and related growth of the country, he added.
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According to him, the government should give retirement planning MFs tax exemption automatically.
Flows into equity are driven due to no other alternative assets. Long-term capital gains (LTCG) will not alter the inflows into equity MFs, said Subramaniam.
The market has been very polarised. IT and export-oriented companies should do well due to strong global growth, he further mentioned.For full interview, watch accompanying video...