 "markets")
Following up on my earlier article on the coming disruption in the capital markets, here I will discuss a similar scenario for the mutual fund (MF) industry with or without changes in the capital markets. In many ways, the MF industry has responded to technological changes even less than the capital markets. In the capital markets, trading is now almost fully electronic, except for some pockets of resistance around the world. In general, the equity and debt markets have undergone deep operational changes as a result of technological changes.
On the other hand, the MF industry has remained operationally unchanged
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