The introduction of TRI or Total Return Index is likely to have a lasting impact on the mutual fund industry, according to industry participants. Many intermediaries are concerned that fund managers would not be able to beat the benchmark convincingly once TRI is introduced. They fear it will have an impact on investor behaviour in the coming months. However, mutual fund industry is unperturbed. Chandresh Nigam, MD and CEO, Axis Mutual Fund, says the move is "a great step from an investor's perspective since it will give them a correct perspective of the alpha that any scheme generates.
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