Fund managers are a bemused lot these days. Some mutual funds are delivering great results, but others - in the same or different space - are going completely bananas. Read the 4Ps B&M tracker of the best & worst performing mutual funds over the last year to understand what’s up and where...
Certainly barring the last six months, when even
the safest investment havens could not withstand the ongoing financial turmoil, the average Indian investor has never had it this good. With 34 mutual funds (MFs) lined up on dock, flaunting over 2,000 schemes to choose from, the mutual fund industry has unquestionably come a long way. However, the journey still appears to be petite when compared with global counterparts.
Even though the value of assets under management (AUM) has gone up massively (growing at a CAGR of 47% since 2003, according to Mckinsey), the relatively low penetration level of MFs is one thing that forces Indian fund houses to take a back seat among global peers. For instance, in the United States, assets managed by mutual funds represent about 78.6% of GDP, whereas in India they account for a meager 6.6% (Frost & Sullivan). Look closely, and the picture looks worse. While mutual funds deal with about 20% of the total household financial assets in the US, the number in India stands at a meager 3.6%. This indubitably points toward one of the most intriguing problems prevailing in the industry – the problem of poor distribution. This is certainly the main reason, besides lack of investor awareness and inadequate banking facilities, which has forced asset management companies to stay out of reach for the majority of population.
Certainly barring the last six months, when even
the safest investment havens could not withstand the ongoing financial turmoil, the average Indian investor has never had it this good. With 34 mutual funds (MFs) lined up on dock, flaunting over 2,000 schemes to choose from, the mutual fund industry has unquestionably come a long way. However, the journey still appears to be petite when compared with global counterparts.Even though the value of assets under management (AUM) has gone up massively (growing at a CAGR of 47% since 2003, according to Mckinsey), the relatively low penetration level of MFs is one thing that forces Indian fund houses to take a back seat among global peers. For instance, in the United States, assets managed by mutual funds represent about 78.6% of GDP, whereas in India they account for a meager 6.6% (Frost & Sullivan). Look closely, and the picture looks worse. While mutual funds deal with about 20% of the total household financial assets in the US, the number in India stands at a meager 3.6%. This indubitably points toward one of the most intriguing problems prevailing in the industry – the problem of poor distribution. This is certainly the main reason, besides lack of investor awareness and inadequate banking facilities, which has forced asset management companies to stay out of reach for the majority of population.
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