The Association of Mutual Funds in India (AMFI), the trade association of Asset Management Companies (AMCs) of all Mutual Funds in India has announced its Vision 2025 for the mutual fund industry and launched a fact book along with CRISIL called "Quantum Leap Beckons" which provides comprehensive and historical statistics on the mutual fund industry.
This was done at the first ever mutual fund summit in the presence of chief guest Ajay Tyagi, Chairman of the Securities Exchange Board of India (SEBI).
The theme of the summit was "Vision 2025: Setting the Roadmap for the Industry", with key focus on customer expansion and ease of doing business by leveraging digital technology.
Anil Ambani, Chairman of Reliance Group, was the guest of honour at the event and shared his vision for the mutual fund industry.
AMFI Chairman A Balasubramanian said, "The mutual fund industry is maturing and taking responsible steps in managing investor's money and generating returns. The industry is at an inflection point and set to become a part of investment consideration of every investor, thus making mutual funds a preferred investment choice"
SEBI Chairman Tyagi in his key note address said "While I am happy that the mutual fund industry has been growing year on year, I would urge them to keep investor interest at the forefront while designing any products. One of the key areas that I would want the industry to introspect is the plethora of me-too schemes."
According to the AMFI-CRISIL Fact Book, top beyond 15 (B15) cities have seen faster growth in assets, at 30% compound annual growth rate (CAGR) in the past three years ended March 2017, compared to 27% for the top 15 (T15) cities. Distributors will also continue to play a big role in creating the awareness about the product, especially in underpenetrated regions, while advisory-based model should find off take in bigger cities.
The full day event saw eminent CEOs and top management personnel from various fund houses and representatives from distribution partners and associations discuss ways in which customer base could be broadened.