The mutual fund industry is all geared to hit the next leg of growth. At the Moneycontrol Mutual Fund Summit held on October 11, industry leaders dwelt on plans to scale the mutual fund industry to 20 crore unique investors from the current four crore.
When asked about the long growth path ahead for the mutual fund industry, chief executives at various mutual fund houses highlighted various factors that could provide a significant boost to this growth journey. While the growing economy and a robust regulatory framework attract many investors to mutual funds, there has been a structural change in terms of increased investor participation. A Balasubramanian, Managing Director (MD) & Chief Executive Officer (CEO) of Aditya Birla Sun Life Asset Management, highlighted the increasing number of millennials investing in mutual fund schemes through systematic investment plans (SIPs). “Investors have realised that diversification is required, and mutual funds offer that,” he said.
