Business owners understand how growth can be achieved through strategic diversification. Peerless has entered the asset management business for the same reasons - increased profitability and business growth. “Our strategy is focused on the customer, who will give us long term rewards,” says Akshay Gupta, CEO, Peerless Mutual Fund. Gupta plans to achieve this by offering simple solutions to investors that will increase their acceptability and understanding of mutual funds.
Regulatory changes: The changes over the past year are very positive for the customers. The changes will help achieve investor interest in mutual funds as new ways to service them evolve. Today, mutual funds are the most transparent financial product. In the long term, customer loyalty can be only built if they are sold the right solution and advised appropriately and dispassionately.
State of the market: Markets are on FII steroids. We have to take a cautious approach on one-time investments in the market. When most global capital markets are yielding low returns, it is natural for markets like India to get inflows which defy logic. This may not continue with the velocity being witnessed currently. That said, this country continues to show impressive macro and micro fundamentals.
The road ahead: We are looking at major expansion across all customer categories. We need to repay the trust that investors have reposed on us. We will do this cautiously, optimistically and based on fundamentals.
My investing style: I am a cautious and optimistic investor who banks on fundamentals with a long-term investment horizon.
This article was originally published on November 10, 2010.
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