Pankaj Murarka, head of equities, Axis Mutual Fund is very constructive on financial and manufacturing space.
Even as assets have hit a record high, a complete lack of interest in equity funds (the higher margin products), poor performance of the stock market and a depleting distributor force means the Indian mutual fund industry has much to worry about.
There is strong evidence that pension funds investing in equity outperform mutual funds because their fee structure is low, and their funds are long-term in nature, reckons R Jagannathan
Securities and Exchange Board of India (SEBI) maybe asked to relook at the mutual fund (MF) entry load norms, reports CNBC-TV18‘s Siddarth Zarabi quoting sources.
Assets under management by Indian mutual fund houses breached the Rs 6 lakh crore mark in March 2012 on the downside, plunging to Rs 5,87,217 crore, while investor folios registered a decline of 7.2 lakh over the September 2011 -March 2012 period, according to data released by the Association of Mutual Funds in India.
CNBC-TV18's Mitra Joshi reports that the AMFI has demanded the SEBI direct its attention towards saving the industry.
The mutual fund industry has a new headache; nearly 50% of the distributors have left the industry, reports Mitra Joshi and Priyanka Ghosh of CNBC-TV18.