How much skin in the game does your fund manager have? If data compiled by Outlook Asia Capital of top 30 equity schemes comprising about 60 per cent of the mutual fund sector's equity assets are anything to go by, the answer is very little.
Barring perhaps Prashant Jain and S Naren, most top fund managers and key employees have not invested sizeably in schemes managed by them or their own fund house.
"This is contrary to the practice followed by all successful global fund managers in developed countries," said Manoj Nagpal, chief executive, Outlook Asia Capital.
