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Mutual Fund Summit 2012:"Indian Mutual fund Industry: Is there a silver lining?"
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a)       Mr. U K Sinha, Chairman, Securities and exchange Board of India (SEBI) said “I want to congratulate the fund management capability of Indian fund management industry where 76% of AuMs have outperformed the benchmark index and on a 5 years scale 56% AuMs have performed better. The need is to make the common investor aware of achievements like this to improve their confidence.” He talked about giving flexibility to mutual funds like total expense ratio, single cheque payment to incentivise distributors, transaction charges especially with respect to opt-in opt-out, need for multiple share class, usage of NSE and BSE to help the industry to expand, cost reduction to improve efficiently of AMC functioning, increase in transaction especially with respect to QFIs and Infrastructure Debt Funds.

 

b)       Mr. Ajay Srinivasan, Chief Executive – Financial Services, Aditya Birla Group said, “In these challenging times focus is required on those things that will drive industry on a sustainable path of healthy growth. Immediate action is required to increase the distribution of mutual funds in the market. We need thoughtful investment in digital infrastructure to push general industry awareness considering that Indians have the lowest preference for investing in mutual funds and that they look at it as something with high risk and low return.”

  

c)       Mr. H N Sinor, Chief Executive, Association of Mutual Funds in Indian (AMFI) said, “A lot of pessimism is circulating about the industry in the media. But it is actually a time for looking at potential. With 1.2 billion population, 330 million houses and a varied customer profile investing in capital markets, just consider the untapped market at hand. The potential for the mutual fund industry is enormous.”

 

d)       Mr. A Balasubramanian, Chairman – CII Mutual Fund Summit 2012 and CEO Birla Sun Life Asset Management Co. Ltd., put the summit into perspective when he said, “We have to see the present situation through the prism of an evolutionary opportunity. The industry is at a point where a few key innovative initiatives could result in a change of trajectory going forward. The issues and problems we face are not dissimilar to those faced by financial services sector here and globally. There are valuable lessons to be learnt from a keen observation and understandings of how other markets have reacted in similar situations.”  

e)       Mr. Gautam Mehra, Executive Director PwC India, said, "At present, the Indian mutual fund industry is facing interesting times. The last few years have seen a series of events, both within and outside the Indian economy, which have impacted the industry. Additionally, investors appear to have adopted a more cautious approach. The present scenario demands vigorous innovation and reinvention. Among others, the purpose may be served by adopting a cluster of key initiatives in the areas of cost efficiency, product design and positioning, alternative distribution models, revenue diversification and capacity creation.

 
Description

As we progress towards the 8th edition of the CII Mutual Fund Summit, the Mutual Fund Industry presents a picture of opportunity and challenges. The total assets under management stand at Rs.664792 crores as of March 2012 reflecting a 5% decrease from previous year.

 

Amidst this changing business and regulatory environment, Asset Management Companies and all service providers, including distributors, have to re-examine their business models and embrace the changing business landscapes with an open mind, without the baggage of past practices.

 

Notwithstanding the recent growth challenges, Mutual funds continue to be a lower cost investment product for households to participate in the long term growth prospects for our economy.

 

The landscape of the Indian Mutual Fund Industry has undergone tremendous change in recent years. In an uncertain and volatile capital market environment, mutual fund players are competing with each other either by satisfying different economic functions or by offering low cost or differentiated products to their clients. Recent exit of established players from the industry due to high cost and losses has reaffirmed the need of striking a right balance between growth and profitability or to look for consolidation as an alternative. It is imperative that a mutual fund not only differentiates itself but strives to communicate the difference to the target investors. Mutual Fund investments need to reaffirm themselves as an essential part of an individual's investment portfolio. Improved communications of performance, financial awareness and inclusion are measures that will go a long way towards that.

 

Simplified and common KYC processes, common information platforms and reduced transaction costs through evolution of online platforms reflect a better future for the industry.

 

The requirement of the hour is to calm the investor with an array of measures, to leverage on the identified growth drivers and support an ecosystem, where all stakeholders work seamlessly with one common objective: Increasing penetration of financial products and draw out the wealth increasingly dispersed in the hinterland into mutual fund and similar alternate investment vehicles.

 

This Summit seeks to deliberate and discuss some of the challenges that the industry needs to deal with in order to map its way forward.

 

Thus the theme…Indian Mutual Fund Industry: Is there a Silver Lining?'

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Knowledge Resources
You will get access to following Knowledge Resources by subscribing to the Digital Library of this event.
 
Mr A Balasubramanian, Chairman-CII Mutual Fund Summit 2012 and Chief Executive Officer, Birla Sun Life Asset Management Co Ltd delivering Introductory Remarks at the Inaugural Plenary Session of the 8th Edition of Mutual Fund Summit 2012.
Mr H N Sinor, Chief Executive, Association of Mutual Funds in India (AMFI) addressing at the Inaugural Plenary Session of the 8th Edition of Mutual Fund Summit 2012.
Release of CII-PwC Report on Indian Mutual Fund Industry: Is there a Silver Lining? at the Inaugural Plenary Session of the 8th Edition of Mutual Fund Summit 2012 held on 21st June 2012 at Mumbai.
Report by Mr Gautam Mehra, Executive Director, PricewaterhouseCoopers Pvt Ltd at the Inaugural Plenary Session of the 8th Edition of Mutual Fund Summit 2012
Mr Ajay Srinivasan, Chief Executive-Financial Services, Aditya Birla Group addressing "Imperatives for Growth & Road Ahead for the Mutual Fund Industry" at the Inaugural Plenary Session of the 8th Edition of Mutual Fund Summit 2012.
Mr U K Sinha, Chairman, Securities and Exchange Board of India (SEBI) addressing at the 8th Edition of Mutual Fund Summit 2012
Mr A Balasubramanian, Chairman-CII Mutual Fund Summit 2012 and Chief Executive Officer, Birla Sun Life Asset Management Co Ltd delivering concluding remarks at the Inaugural Plenary Session of the 8th Edition of Mutual Fund Summit 2012.
Session Moderator Mr Govindraj Ethiraj, Consulting Editor, Headlines Today delivering opening remarks at the session I: Overseas Thinktank Panel Discussion 'Global View and Perspective: On the Current Indian Mutual Fund Industry' of the 8th Edition of Mutual Fund Summit 2012.
Mr Saurabh Nanavati, Chief Executive Officer, Religare Asset Management Co Ltd addressing at the session I: Overseas Thinktank Panel Discussion 'Global View and Perspective: On the Current Indian Mutual Fund Industry' of the 8th Edition of Mutual Fund Summit 2012.
Mr Stephane Janin, Director, Head of International Affairs Division, AFG (French Asset Management Association) addressing at the session I: Overseas Thinktank Panel Discussion 'Global View and Perspective: On the Current Indian Mutual Fund Industry' of the 8th Edition of Mutual Fund Summit 2012.
Mr Lester Gray, Chief Executive Officer-Asia Pacific, Schroders Investment Management Ltd. addressing at the session I: Overseas Thinktank Panel Discussion 'Global View and Perspective: On the Current Indian Mutual Fund Industry' of the 8th Edition of Mutual Fund Summit 2012.
Mr Vijai Mantri, Managing Director and Chief Executive Officer, Pramerica Asset Managers Pvt Ltd addressing at the session I: Overseas Thinktank Panel Discussion 'Global View and Perspective: On the Current Indian Mutual Fund Industry' of the 8th Edition of Mutual Fund Summit 2012.
Global View and Perspective: On the Current Indian Mutual Fund Industry - An Open House Discussion
Session Moderator Mr Govindraj Ethiraj, Consulting Editor, Headlines Today delivering opening remarks at the session II: "Indian CEO’s Thinktank Panel Discussion: Key Drivers Impacting the Mutual Fund Industry: The Stakeholders in the Ecosystem" of the 8th Edition of Mutual Fund Summit 2012.
Panel discussion on "Key Drivers Impacting the Mutual Fund Industry / The Stakeholders in the Ecosystem" at the 8th Edition of Mutual Fund Summit 2012.
Key Drivers Impacting the Mutual Fund Industry / The Stakeholders in the Ecosystem - An Open House Discussion
Session Moderator Mr Govindraj Ethiraj, Consulting Editor, Headlines Today delivering Concluding Remarks at the session II: Indian CEO’s Thinktank Panel Discussion: Key Drivers Impacting the Mutual Fund Industry: The Stakeholders in the Ecosystem of the 8th Edition of Mutual Fund Summit 2012.
Session Chairman Mr Anthony Heredia, Managing Director, Morgan Stanley Investment Management Pvt Ltd delivering Introductory remarks at the Plenary Session I: "Sustainability Vs Growth for the Mutual Fund Industry" of the 8th Edition of Mutual Fund Summit 2012.
Mr Ved Prakash Chaturvedi, Chief Executive (Capital Market and Investment Management Group), L&T Finance Ltd addressing at the Plenary Session I: "Sustainability Vs Growth for the Mutual Fund Industry" of the 8th Edition of Mutual Fund Summit 2012.
Viable Business Model for the Mutual Fund Industry-Striking a Right Balance-Growth and Profitability by Mr Sundeep Sikka, Chief Executive Officer, Reliance Capital Asset Management Ltd
International Operations/ Onshoring of Management of Offshore Funds-Domestic Skills for International Markets by Mr Imtaiyazur Rahman, Acting Chief Executive Officer, UTI Asset Management Co. Ltd
Moving towards Optimal Operating Model to increase Efficiency-Using Automation to reduce Transaction Costs by Mr V Ganesh, Chief Executive Officer, Karvy Computershare Pvt. Ltd
Fixed Income-An Important Part of Investor’s Portfolio by Ms Lakshmi Iyer, Senior Vice President and Head (Fixed Income and Products), Kotak Asset Management Co Ltd
Mr Anthony Heredia, Managing Director, Morgan Stanley Investment Management Pvt Ltd delivering Concluding Remarks at the Plenary Session I: "Sustainability Vs Growth for the Mutual Fund Industry" of the 8th Edition of Mutual Fund Summit 2012.
Session Moderator, Mr Tamal Bandyopadhyay, Deputy Managing Editor, Mint delivering Opening Remarks at the Plenary II: "Panel Discussion-Regulations to Align Investor Interest and Objectives of the Asset Management Industry" of the 8th Edition of Mutual Fund Summit 2012.
Panel Discussion on "Regulations to Align Investor Interest and Objectives of the Asset Management Industry" at the 8th Edition of Mutual Fund Summit 2012.
Regulations to Align Investor Interest and Objectives of the Asset Management Industry - An Open House Discussion
Session Chairman, Mr Harshendu Bindal, President, Franklin Templeton Asset Management (India) Pvt Ltd delivering Introductory remarks at the Plenary III: "Increased Participation of Retail Investors in Volatile Markets" of the 8th Edition of Mutual Fund Summit 2012.
Financial Awareness and Inclusion take Centre-stage to Channelize Investor Savings-In the Volatile Markets by Mr Deepak Kumar Chatterjee, Managing Director, SBI Funds Management Pvt Ltd
Mr Dhirendra Kumar, Founder and Chief Executive, Value Research India Pvt Ltd addressing at the Plenary III: "Increased Participation of Retail Investors in Volatile Markets" of the 8th Edition of Mutual Fund Summit 2012.
Mr Nilesh Shah, President (Corporate Banking), Axis Bank Ltd addressing at the Plenary III: "Increased Participation of Retail Investors in Volatile Markets" of the 8th Edition of Mutual Fund Summit 2012.
Customer Voice and Importance of Service Element to Increase Retail Investors Base by Ms Ruchira Roy, Managing Partner, Positron Advisory Services Pvt Ltd
Increased Participation of Retail Investors in Volatile Markets - An Open House Discussion
Session Chairman, Mr Harshendu Bindal, President, Franklin Templeton Asset Management (India) Pvt Ltd delivering Concluding Remarks at the Plenary III: "Increased Participation of Retail Investors in Volatile Markets" of the 8th Edition of Mutual Fund Summit 2012.
Mr A Balasubramanian, Chairman-CII Mutual Fund Summit 2012 and Chief Executive Officer, Birla Sun Life Asset Management Co Ltd addressing "Pinpointing Key Issues and Pressure Points in day’s proceedings" at the Valedictory Plenary: "Reflection of the Next Frontier" of the 8th Edition of Mutual Fund Summit 2012.
Mr Rajeev Kumar Agarwal, Whole Time Member, Securities and Exchange Board of India (SEBI) delivering Special Address at the Valedictory Plenary: "Reflection of the Next Frontier" of the 8th Edition of Mutual Fund Summit 2012.
Mr A Balasubramanian, Chairman-CII Mutual Fund Summit 2012 and Chief Executive Officer, Birla Sun Life Asset Management Co Ltd delivering Concluding Remarks at the Valedictory Plenary: "Reflection of the Next Frontier" of the 8th Edition of Mutual Fund Summit 2012.
 
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