Radhika Gupta on Monday asserted that no other financial product has done a better job creating wealth for the common Indian than mutual funds. The MD and CEO of financial services firm Edelweiss added that said no financial product gets dissected like mutual funds because they choose to be transparent.
Gupta was weighing in on a debate sparked by an options trader Aditya Trivedi, who claimed that mutual funds aren't exactly creating wealth and one is better off investing in an instrument that tracks Nifty.
On Tuesday, Radhika Gupta reassured that investing in mutual funds would indeed yield good returns in the long run.
"When they go low, we go high. Keep the mutual love going," she tweeted.
Many Twitter users also weighed in and stated that they know people personally who became wealthy by investing in mutual funds long term.
" I could fund my marriage with the profits from mutual funds SIP for 6 years," wrote Twitter user Kumar (@Kummi_10).
"My mom is an example of such wealth creation. She has invested in mutual funds through a mutual fund distributor and has made wealth for herself. Yes, maybe it’s not crores. But it is more than enough for her," commented Pranay Aloysius (@Pranay_Morgan).
Another user Satya (@Satya2710) added, "Mutual funds generate wealth for long-term investors. Also, if you go for direct funds then the expense ratio is less than one per cent for majority of funds. It generates more than the majority of traders or self-investors in long run for sure."
Read more: When Edelweiss CEO Radhika Gupta was selling SIPs in Mercedes showroom
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