HDFC will keep its stake above 50% in HDFC MF, says MD Milind Barve

At least 60-80 per cent of the new branches we are opening are in the smaller towns, says Barve

Just ahead of HDFC Mutual Fund's Rs 28-billion initial public offer (IPO), Milind Barve, managing director of the fund house, talks to Jash Kriplani. Edited excerpts: 

Your reading of the MF industry's growth in recent years?

We have seen retail (from individuals) participation increase with the rise of equity inflow. In FY14, the equity segment saw net outflow of Rs 140 billion. In FY18, the industry collected Rs 2.6 trillion in equity-oriented funds. A dramatic change has happened in the way flows have moved from household savings. For many of us who have been around for some time, an earlier inflow of