Post a string of defaults by some big companies in 2018-’19, investors were averse to locking in money in fixed income. Hence, the popularity of FMPs (Fixed Maturity Plans) waned somewhat as people preferred open-ended funds as they could exit if there were indications of downgrade/default in a particular underlying paper. This was the period when many funds started following a rolldown strategy on the open-ended funds’ platform.
India: Life market expected to grow by 15% in next 3-5 years
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