C B Bhave, former chairman of the Securities and Exchange Board of India (Sebi) and chief guest at Business Standard Fund Café 2017, applauded the quality of growth and geographical penetration shown by the mutual fund (MF) industry in the past three years.
“Growth without fundamental principles is like fat. Growth with good base and fundamentals is like muscles. I am glad that the MF industry has muscle and not just fat,” said the former Indian Administrative Service (IAS) officer, highlighting sharp growth in assets shown by the domestic asset-management industry.
The assets under management (AUM) of the industry has
