In 2008 when Suresh Soni, CEO, Deutsche Mutual Fund ventured to meet retail investors to assuage their apprehensions, he could not have anticipated the future any better. Within a year of that initiative, the regulatory changes have made engagement with retail investors a must for AMCs. “In the long run, whatever is good for the investors is definitely good for the mutual fund business,” he says.
Disappointing AUM growth: The long-term growth rate of the Indian mutual fund industry remains impressive. The fall in AUM growth could also be due to regulatory changes that have impacted the revenues for distributors. This is a transition period and we expect sales momentum to resume soon.
State of the market: Robust monsoons, strong economic fundamentals and increased FII inflow have all contributed to the upward movement in the market. We continue to remain positive on the Indian equity market.
The road ahead: We are working closely with our distribution partners to strengthen the traditional channels and will add alternate channels. We will continue to focus on delivering strong investment performance and launch innovative products. We are committed to ensuring better service to our distributors and investors.
My investing style: I am a long term, value-focused investor.
This article was originally published on November 03, 2010.
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