Over the past decade, the industry’s assets under management (AUM) have increased by 527% to Rs 61.16 lakh crore in June 2024 from Rs 9.75 lakh crore in June 2014.
In an interaction with Business Today, the money manager added that the next 10-15 years will be extremely positive for India. “People can generate inter-generational wealth going ahead. However, a lot of people will miss out because of a lack of discipline. If the power of compounding is the 8th wonder then I think the power of forgetting (buy and hold for long-term) is the 9th in the financial world.”
Nair added that there is a need to increase mutual fund distributors in the country. He said that at present, there are around 40,000 active mutual fund distributors in the country.
