The assets under management (AUM) of the Indian mutual fund industry are expected to cross the R20-lakh-crore mark by 2020 from the existing level of R7 lakh crore. Reliance MF, the current market leader with a 12% share, seeks to grow proportionately over the next 7-8 years, said Sundeep Sikka, CEO, RCAM.
Addressing journalists from India in Dubai, Sikka said there would be a shift from physical assets to financial assets worth around R90,000 crore over the next 5-10 years. With this and the recent regulatory changes, the MF industry could witness an inflow of R7 lakh crore, he said.
Sikka said Sebi?s regulatory changes would infuse confidence into investors, especially in smaller cities, apart from attracting overseas investors.
?It is for the industry to exploit the emerging opportunities to make the target achievable,? he said.
On RCAM?s plans, he said: ?We plan to double our presence in India to 400 centres and add 5,000 distributors, while introducing new products and investing in technologies to achieve the desired results.”