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Mutual Fund Distributors Association of Karnataka (MFDAK) recently held its tenth annual convention on January 5 & 6 in Bengaluru.
Themed, ‘India: Road to Global Dominance’, the annual convention hosted over 20 speakers that empowered more than 650 MFDs to identify opportunities on India’s road to global dominance. The speakers also shared newer perspectives and solid tips to grow the distribution business manifold times.
Acknowledging the effort of the entire MFDAK team and thanking every MFDAK member for participating, Tejas G V, President, MFDAK said, “The whole intent was to line up the best of speakers and curate some great knowledge sessions that can help members to grow their distribution business.”
He added, “Be it in the terms of scale of the event or its execution, we have received an amazing feedback. Participants expressed great contentment as they walked away with many takeaways.”
What did top CEOs share?
Top CEOs like Aashish Sommaiyaa of WhiteOak Capital MF, A. Balasubramanian of Aditya Birla Sun Life MF, Kailash Kulkarni of HSBC MF, Navneet Munot of HDFC MF, Nilesh Shah of Kotak MF, Nimesh Shah of ICICI Prudential MF, Sandeep Tandon of quant MF and Swarup Mohanty of Mirae Asset MF spoke at the event.
While the learnings were unlimited, here are five takeaways from their sessions.
- Identifying opportunities - The increase in middle class population, higher savings rate, the movement of savings to financial assets and the broadening reach of MFs indicate positivity about India’s growth story and hint at the vast opportunities for MFDs
- Growing business - Encouraging SIP top-ups and handholding clients to stay invested without making unnecessary redemptions are instrumental for business growth
- Differentiating from others - MFDs can differentiate themselves from others (like direct platforms) by focusing on products, advice, service and accessibility as against having a transaction-based approach
- Adding more value - MFDs should focus on managing investors’ behavioural aspects. This contributes to 100-150 bps of additional value, suggests a study
- Creating a brand - It is advisable to garner testimonials from clients and share it with others. This helps others to recognise the good work done by MFDs
Meet the team behind the event’s success
The entire executive committee of MFDAK worked relentlessly hard to make this Annual Convention a grand success. The team comprised:
- Tejas G V, President
- Srikala Bhashyam, Vice President
- Ramakrishna Kolluri, Secretary
- Vanitha C K, Joint Secretary
- Ashok B V, Treasurer
- Ramesh Biswas M, EC Member
- Arun Kumar, EC Member
- Raghu N S, EC Member
- Deepak N, EC Member
- Manju Mastakar, EC Member
