Nilesh Shah, Managing Director of Kotak Mahindra AMC, has expressed support for the establishment of a sovereign wealth fund in India. Shah emphasised that while this initiative should be pursued, it must be done gradually and with caution.
Conversely, Deepak Shenoy, Founder of Capitalmind, opposes the idea.
He argues that mutual funds already have the capability to invest abroad and cautions that creating a sovereign wealth fund might exacerbate the fiscal deficit.
To avoid volatility, stay away from these mutual fund schemes
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