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India’s mutual fund industry has room to expand as systematic investment plans (SIPs) bring more households into financial markets, but high smallcap valuations and the need for stronger risk management remain key concerns, industry leaders said at the Business Standard BFSI Insight Summit in Mumbai. Speaking at the session titled 'The Future of Asset Management', moderated by Business Standard’s Abhishek Kumar, the leaders of four asset management companies (AMCs) discussed the industry's growth prospects, product innovation, the emergence of specialised investment funds (SIFs) and the role of artificial intelligence (AI).