Dhirendra Kumar, CEO, Value Research, started tracking the mutual fund space in 1990s. Those days, only government-backed firms could start mutual funds. UTI was the largest, PSU insurers and banks also ran mutual funds.
“It was a very seasonal business back then. Fund houses used to launch closed-ended funds like IPOs. You could only invest a lumpsum and equity funds were not dominant. I remember LIC had schemes like Dhanvarsha, UTI had MIPs, and SBI had those Magnum Rising Schemes. T ..
