Despite the recent surge in the assets under management of the fund houses in May, several market participants are worried that new fund offers are taking away investors from existing schemes. Several issues were discussed to target the retail investors in the MF industry and how to take the schemes to the tier-II and tier-III cities of the country.
The large share of corporate money coming in the schemes compared to the retail money is also the cause of worry for the fund houses. Says Prithvi Haldea, chairman and managing Director of Prime Database, ?It seems that due to the tax exemption, more and more corporate are parking their money in the MF. However to grow as the industry, asset management companies have to look for the retail infusion throughout the country.? The summit focussed in detail on the problems faced by the investors. Ravi Trivedy, executive director of KPMG said, ?Retail investors need simplification of investment process coupled with transparency and continuous investment advice, then only they will remain in the MF industry.?
Says Jaideep Bhattcharya, chief marketing officer of UTI Asset Management, ?Recently we managed to connect to over 1.5 lakh household in the city through the 5,000 dabbawalahs. To target retail investors, we can even take help of the NGO?s and add financial literacy in the school,?.