When Invesco decided to sell 60% stake to the Hinduja group earlier this month, it didn’t surprise anyone. That’s because only a handful of foreign fund houses have been able to grow in the country even though the Indian mutual fund industry has already topped Rs 50 trillion (Rs 54 trillion in FY24).
Sample this: Among the top 10 players, only two foreign fund house – Nippon India and Mirae Asset – figures in the list. Worse still, among the top 20 players, only six make the cut.
