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India’s $442 billion asset management industry is finally having to reckon with the passive investing juggernaut. After decades of sluggish growth, the number of accounts invested in index-tracking or exchange-traded funds more than doubled to 5.6 million in the year to April. Passive products now account for nearly a quarter of equity assets under management versus about 16% two years ago, data from the Association of Mutual Funds in India show. That compares to more than 50% in the U.S. The foundations for the boom were laid by a series of regulatory changes preventing active fund managers from gaming the league tables. What supercharged it was the Covid-19 pandemic which, like elsewhere, stoked a retail investing surge that’s seen millions of new young day traders pile into Indian equities via online apps. Their interest is now spilling over into ETFs, creating an opening for an up-and-coming asset manager to become India’s own Vanguard.
India’s $442 billion asset management industry is finally having to reckon with the passive investing juggernaut.
After decades of sluggish growth, the number of accounts invested in index-tracking or exchange-traded funds more than doubled to 5.6 million in the year to April. Passive products now account for nearly a quarter of equity assets under management versus about 16% two years ago, data from the Association of Mutual Funds in India show. That compares to more than 50% in the U.S.
The foundations for the boom were laid by a series of regulatory changes preventing active fund managers from gaming the league tables. What supercharged it was the Covid-19 pandemic which, like elsewhere, stoked a retail investing surge that’s seen millions of new young day traders pile into Indian equities via online apps. Their interest is now spilling over into ETFs, creating an opening for an up-and-coming asset manager to become India’s own Vanguard.
People Moves: 24 - 28 May 2021
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Insurance Age staff
Ballantyne appoints divisional director
Ballantyne Brokers, an independent London broker, has appointed Robert Ralf as divisional director, Financial Lines, reporting to Richard Spragg, co-founder and director of broking.
Ralf has previously worked at Aon, AFL Broking Ltd and Ed Broking where he was divisional operating officer for specialty and managing director of marine.
Spragg commented: “Ballantyne has seen outstanding growth during our first year
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People Moves: AFL’s Ralf to Ballantyne; Arab Insurance Group’s Albaharna to Trust Re; Hunt Promoted at Chaucer as Lines Plans to Retire May 25, 2021
A summary of these new hires follows here.
Ballantyne Brokers Ltd., the independent London broker, announced the appointment of
Robert Ralf as divisional director, Financial Lines, reporting to
Richard Spragg, co-founder and director of Broking.
Ralf’s breadth of commercial insurance experience is not only focused on financial institutions but spans right across the specialty insurance sector, said Ballantyne in a statement. Most recently with AFL Broking Ltd., Ralf has worked for several leading brokers including Aon and Ed Broking.