'We expect passives at 40-50 per cent of AUM in five years'

Summary: Nippon India Mutual Fund’s ED and CEO puts a firm number on how large passives could become at his fund house and points to what he sees as the industry’s biggest behavioural problem. The pointed question on fast growth and its effect on revenue per rupee draws a defence of the fund house’s mix.

Summary: Nippon India Mutual Fund’s ED and CEO puts a firm number on how large passives could become at his fund house and points to what he sees as the industry’s biggest behavioural problem. The pointed question on fast growth and its effect on revenue per rupee draws a defence of the fund house’s mix. How would you describe the past 12 months for your fund house in one sentence? The past 12 months focused on broadening investor participation, building trust and creating wealth for investors. What was your single biggest mistake this year, and what did it cost investors? Predicting investor behaviour is never easy. Many chased short-term spikes in gold and silver funds, which belong in structured asset allocation, not tactical bets. It cost investors stability and disciplined returns, underlining the need for awareness and education. What is the one number you watch every morning that is not AUM? Investors joining us and staying invested. Sustainable growth begins with enduring relationships. What is your outlook for equity and debt markets over the next 12 months? India’s domestic indicators stayed resilient despite geopolitical headwinds. With better earnings and valuations after nearly two years of consol

This article was originally published on October 23, 2026.