AMFI has decided to draft a white paper, titled ‘Vision 2025’, which will suggest ideas and strategies to increase the penetration of mutual funds in India, said A Balasubramanian, Chairman, AMFI and CEO, Birla Sun Life Mutual Fund.
The aim is to grow industry AUM to Rs95 lakh crore and add over 7 crore new folios in the mutual fund industry within 5 years.
At an industry event a few days ago, the AMFI Chairman said that even if the industry grows at a 5-year average growth rate, it will touch AUM of Rs95 lakh crore. On folio count, he said that the industry will have 13.3 crore folios by 2025. The industry has 5.60 crore folios, as on March 2017.
To convert these estimations into reality AMFI has sought the help of IIM Ahmedabad and NISM, both leading institutions, to prepare the whitepaper.
G. Pradeep Kumar, CEO, Vice Chairman AMFI and Union MF, told Cafemutual that IIM Ahmedabad and NISM would submit their recommendations by the end of August. “We are looking forward to having the recommendations of IIM Ahmedabad and NISM on ‘Vision 2025’ for the growth of the mutual fund industry. We believe that the white paper will help us accelerate the momentum and achieve sustainable growth,” he added.
