Veteran banker and bond market specialist NS Venkatesh, who took over as the Amfi chief late last month, expects the industry to continue to grow at a compounded annual rate of 20-25 per cent over the next three years given the deepening financialisation of the economy.
In his first interview after taking over as the head of Amfi, Venkatesh told PTI that he's very optimistic about growth prospectus of the MF industry as bank deposits to MF investments ratio here is very low at around 20 per cent, while the global average is around 1.5 times of the former.
Venkatesh, who succeeded VR Rajendran at Association of Mutual Funds in India (Amfi) who had stepped down in December 2016, had spent two decades in IDBI Bank where his focus was treasury and international banking and the last two years at Lakshmi Vilas Bank as an executive director where he led the Chennai-based private lender's new-age transformation.
