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2022 is ending soon. Can you give us a sneak peek into your 2022?
HSBC announced the acquisition of L&T Mutual Fund in December 2021; therefore, the majority of 2022 went into ensuring we focus on getting the regulatory approvals, getting both businesses together as well as all the things that went into ensuring a smooth transition on the first business day which happened on November 28, 2022. That was a big focus area for us. We were also coordinating with all large distribution partners and keeping them abreast of all the going on about how the transition will be a continuity for all our partners and customers.
What trends do you think that the MF industry should watch for in 2023?
As we are just few days away from 2023, I believe India clearly is in a far better position than the rest of the world. India has managed to overcome the various inflationary pressures and that should lead to a very healthy and robust 2023. We believe that 2023 will see two big things which will play out - 1) India will emerge stronger as compared to rest of the world and 2) Markets should be buoyant although volatility will continue to be a part of our life.
On the fixed income side, we should see the topping of the interest rate scenario and subsequently, both the asset classes should work in India and that’s why it’s likely to be a great year for us.
What are the two key lessons that the year has taught you?
The two key lessons that 2022 taught us has been patience and perseverance which effectively means that we need to be patient and we need to continue our communication with our clients and our distribution partners on an ongoing basis through turbulent and volatile times.
What are your aspirations for the coming year?
Aspirations for the coming year are very clear. Now that we have merged into a single entity, we would like to focus on getting back to our growth strategy, delivering on fund performance as our clients were used to in our past and ensuring that we focus on gaining a few ranks in the league tables.
What are the new things that you would like to implement in your professional and/or personal life?
Just like a concept like SIP has become popular, we would like to educate our customers about SWP as it is more tax efficient than dividend plans.
On the personal side, I would like to explore further through my travels, more parts of India and more parts of the world which I have not seen yet.
What is that one thing that you feel could have been done differently last year?
If one had to rewind the clock and say that what we could have done differently is possibly our focus towards a better way of communicating with our end clients. Also, we need to have a strategy around product pitches which should be more regular and also being more visible to our clients on media.
What trends do you think MFDs/RIAs should watch for in 2023?
Keeping in mind India’s growth story, it is recommended that people should stay focused and be mindful of the basics. Also, towards the middle of the year, duration funds may see significant inflows considering the market scenario.
