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“Savers are slowly understanding mutual funds,” said K V Kamath at the Business Standard BFSI Insight Summit last month. I was reminded of an incident that happened almost 30 years ago.
I was based out of Chennai and had the habit of visiting a neighbourhood investment advisory outlet that stocked initial public offering (IPO) forms for up-and-coming public offers. The forms, more than 40, were neatly arranged, almost like newspapers at a vendor’s stall. I was slowly going through the forms, trying to remember the IPO reviews I had read in the business dailies. I noticed an autorickshaw coming to a halt outside the outlet. The driver got out and rushed inside. He saw me looking at the forms intensely and