When a prominent Indian film director was asked why we don’t make films that win Oscars, he responded that the Indian film industry’s job is to address the domestic audience, and India has a large one at that. In the last month, the vivid debate around mutual fund (MF) expenses has focused on whether India is cheap or expensive relative to various global markets. However, the domestic asset management industry is better off answering the question—what is right for our markets and for our investors?
