WHAT KIND OF GROWTH HAVE MUTUAL FUND INVESTMENTS HAVE SEEN? WHAT ARE THE KEY TRENDS?
There has been a phenomenal increase, and it is due to a couple of parameters like Covid and also moving of financialisation of assets as part of Covid and overall literacy levels going up. In the mutual fund industry, we ran a campaign 'Mutual fund sahi hain'. That has been a big attributor to visibility and understanding of the product. Another trend we are seeing is that people are getting more and more comfortable with market linked returns.
They are moving away from contextual savings. And that trend will continue because of the potential to generate better returns than contextual savings. There is also digital penetration. There is easy access to products. Over 90% of mutual fund sales in India is digital. The bigger thing is fintech distribution, through advisory service and the whole revolution that has come in wealth management capability has been really helpful. Regulatory push has driven growth.
Moreover, penetration is growing at an accelerated pace, but when you consider the potential the industry has and other traditional products, we are still miniscule.
This story is from the October 2023 edition of Entrepreneur magazine.
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This story is from the October 2023 edition of Entrepreneur magazine.
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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