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MF News ‘We will be a Rs.75 lakh crore industry in five years’

‘We will be a Rs.75 lakh crore industry in five years’

Continuing with our series ‘A quick view from the top’, we talk to Rajesh Patwardhan, Chief Marketing Officer, LIC Mutual Fund about his experiences and learnings.
Team Cafemutual Aug 8, 2018

Over the last two years, what changes have you made to make LIC Mutual Fund more responsive to the market?

We essentially followed three steps:

  • Aligned our offerings based on market demand
  • Built a track record of consistent performance
  • Strengthened our distributor connect

Tell us about your first job.

I started my career as a medical representative with Cheryl Labs, which was a subsidiary of Glenmark Pharmaceuticals. I worked there for a year covering Borivali – Virar, Mumbai area. 

Share with us the first sales experience of your life.

During my stint as medical representative in Cheryl Labs, I used to visit Arnala, a small village in Virar to meet an experienced doctor Dr. Galwankar. I explained to him that why our medicines have an edge over other competitive drugs. In addition, there was a shortage of competitive drugs during that time. This helped me convince him to prescribe our products. Seeing this doctor’s interest in our products, other doctors started prescribing our medicines. Eventually, we got an order of 10,000 strips of a drug called Nasoryl, which was the highest order procured by Cheryl Labs India.

Tell us about your mentor. What are the important lessons that you learned from him/her?

My mentor was my school friend and currently the promoter director of a listed wellness company in India. He was into financial distribution and stock broking business. In 1994, he introduced me to the world of financial services industry. In fact, he gave me an opportunity to work in this industry and helped me understand every nuance of this business.

What makes the mutual fund industry an exciting industry to work?

It is mark to market that keeps me constantly alert and on my toes.

Where do you see the Indian MF industry five years from now?

Even if the industry maintains the current growth rate, we will see the average AUM grow 3.5 times i.e. from Rs.22 lakh crore to Rs.75 lakh crore in five years.

Share with us the hi-point of your career.

I joining Deutsche Asset Management India where I was single handily managing both the institutional clients & retail distributors.

Between a well-paying job and interesting job (which pays less), what will you choose and why?

Well-paying job, since I have gone through the interesting phases.

What is the recipe for success in corporate life?

Knowledge, smart work, good network and market intelligence.

What keeps you motivated?

My family.

How and where do you invest your money?

I have invested in mutual funds largely through SIP and a small portion in direct stocks.

Role model or celebrity who inspires you the most and why?

Akshay Kumar. He is the only actor who has maintained top position in the industry dominated largely by 3 Khans thanks to his passion, discipline, hard work, commitment to work and fitness.

Can you recommend a book to our readers that has inspired you?

I would recommend a book titled ‘Who moved my cheese’. Written by Dr. Spencer Johnson and Kenneth Blanchard, the book carries motivational tales. It is a story that illustrates how people embrace change and adapt to change with open mind and motivated spirit.

What causes do you support?

Girl child education and old age home.

What is your favourite past time?

Watching movies & playing chess.

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1 Comment
Pramod puranik · 2 months ago
Mr patwardhan is good friend of me I wish him best of luck
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