The Business Standard BFSI Insight Summit held in November saw some of the top mutual fund honchos come together for an evening of engaging discussion on some of the relevant issues facing the industry. The first panel discussion got together six industry chiefs for a session on “Who Needs Mutual Funds?” The topic has gained prominence given that several new investors in the past year have chosen to invest directly into equities rather than go through the mutual fund route. The industry chiefs, however, cautioned that the new investors that had entered the market in the past year had seen only one side (half a cycle) of the market and their confidence could be misplaced. Despite the immediate challenges in attracting new investors, especially the millennials who seemed to be more keen on do-it-yourself investing and unregulated products such as cryptocurrency, the road ahead for the industry looked promising, they said.
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