India s mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013.
MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds.
By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
Radhika Gupta says: "Young India is a little bit of a missed opportunity. And we have to start speaking the language of young India. I think women are a missed opportunity. Finance is still very technical. Most people s worry is how do I start? And we have to position mutual funds as simple problem solvers. Nobody wakes up thinking I want a flexi cap fund today. I want a large and mid cap fund. People do not know what these things mean."
While it took almost 50 years for the mutual fund industry to build the first ₹10 lakh crore of AUM, the last ₹10 lakh crore, from ₹40 lakh crore to ₹50 lakh crore, was amassed in just a little over a year.
Indian Mutual Fund Industry Surpasses Monumental ₹50 lakh crore AUM Milestone on the back India Growth Story – AMFI bilkulonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bilkulonline.com Daily Mail and Mail on Sunday newspapers.