The direct plan has not seen greater retail participation; direct participation has mainly been institutional in nature, says Sandesh Kirkire of Kotak Mahindra Mutual Fund
19-Dec-2013 •Research Desk
In an annual review on fund families, we spoke to mutual fund honchos to get their views on some of the pressing issues facing the industry. This is what Sandesh Kirkire, the CEO of Kotak Mahindra Asset Management Company had to say:
What factors would increase the appetite for investing in mutual funds beyond the top 15 cities?
Improvement in underlying fundamentals of Indian economy and bottomline efforts towards building financial literacy in the country. Continuous information dissemination by the industry making the investor aware about basics of asset allocation and the fact that wealth creation is a long term process.
Have the direct plans seen greater retail participation?
No, the direct plan has not seen greater retail participation; direct participation has mainly been institutional in nature.
What investor education initiatives has your AMC taken?
We have done large investor awareness camps in several cities in Maharashtra, Rajasthan, UP, and Gujarat over the past 1 year. Apart from this, we recently did a print and digital media campaign on investor awareness talking about the advantages on long term investing and tackling some misconceptions about equity investing. We are also having financial awareness camps in corporate offices to reach out to the salaried class in a more direct way. The next level is to penetrate deeper into tier 2 markets and ensure better awareness through a combination of scalable approaches.
What's the road ahead for your AMC?
Firstly we want to focus on offering products across the risk spectrum and focus on consistent performance across the products. Today we are present in 92 locations, but we want to try and build distribution across India. Lastly, gain market share across products and geography.
Brief us about your personal investment philosophy?
Invest in different assets and focus on investment horizons while doing asset allocation.