The current debt market phase is temporary; long-term story to remain intact
Scene 1:
Location: Office of the country’s top non-institutional mutual fund (MF) distributor in South Mumbai
The agents and sub-agents of a MF distributor have gathered together to discuss their performance of to be concluded first quarter of the new financial year (2020) and devise a strategy for the rest of the calendar 2019. Most of the faces are down as the mop up on all fronts including MFs have not picked up as targeted. During the period under review, actual fund raising by these sub-agents from their clients have not only fallen but most of them have failed to bring in new clients as well. One of the sub-broker, who just returned from a vacation he enjoyed with his family in one of the most sought after destination in Europe, was seen regretting his decision that he unnecessarily spent more than Rs 3 lakh on a 10 day vacation as back home, the business is not seen picking up as expected in coming quarters.
Scene 2:
Location: A wealth manager’s office located in business district of South Central Mumbai
This story is from the July 2019 edition of Outlook Money.
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This story is from the July 2019 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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