I was part of a panel which said something like ‘Out of the box thinking’ in the MF distribution space.
I liked it..but there is so much basic work to do…
Amc’s are sitting on their backs and hoping that the existing 230 IFAs will grow the business. I think we are about 20,000,000 IFA short. Like I said..we have 230 we need 20 million. No, Amfi, or the industry will do nothing about it.
We will keep talking about low penetration. When I started life in the MF industry as a trainer and even before that as a broker hoping to sell research and equity to mutual funds (circa 1995) we were talking of a 2% penetration. Nothing has really changed much. Hey the fund industry has some very well paid employees, shareholders are happy, smiles all around…but the unit holder is paying a high price and getting shit closet index funds. In a country where the indices are so poorly constructed…these one eyed men look like kings.
Well first there is something to be done inside the box…now read what the other illuminaries in the field had to say…they needed a maverick..so I fitted the bill.
I guess the name Subramanyam has something to do with being a Maverick…?
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