A delegation of financial services professionals from Pakistan seems to have taken a leaf from CII?s Mutual Fund Summit 2008 held on Wednesday in Mumbai. The Pakistani delegation was impressed with the systematic investment plan (SIP) of the Indian mutual fund industry which they will try to implement in Pakistan.
Shehryar Ahmad, senior vice-president of BMA Capital Management Ltd, an asset management company in Pakistan and a member of the Pakistani delegation said, “The Indian MF industry is huge. We will take numerous lessons from the Indian MF industry with which we can benefit the people of Pakistan.”
The delegation was impressed with the Indian MF industry and they have taken a few tips from the summit which will be helpful for the people of Pakistan.
Ahmad said, “We are quite impressed with the way SIP is working in India. It can benefit a large number of people. Investors can invest as less as Rs100 and can still make some investment. Though the MF industry in Pakistan is much smaller than India, but we think that through SIP we can narrow that gap and also increase the asset under management (AUM) of Pakistan MF industry. Currently, the total AUM in Pakistan is nearly Rs 21,000 crores as against India?s AUM which crossed Rs 6,00,000 crores recently.”
The delegates also got few lessons from the summit on the penetration of MF among the people of Pakistan. “In Pakistan we have only 4% of the investment in mutual fund, which is very low. We got some information on how to educate the investors of Pakistan on the MF industry,” Ahmad said.
