Rediff.com caught up with Reliance Capital Asset Managment CEO Sundeep Sikka, to discuss the success of Reliance Mutual Fund.
Mutual funds (MFs) added systematic investment plan (SIP) accounts at a record pace in 2023 with the net additions in the calendar year surpassing 15 million - 24 per cent higher than the 2022 tally of 12.2 million, according to data from the Association of Mutual Funds in India (Amfi).
In 2013-14, as many as 45 people each earned more than Rs 1 crore (Rs 10 million) commission as a mutual fund (MF) distributor. This is up from 33 in 2012-13 and 22 in 2011-12.
Reliance gold scheme does not require demat account.
"We remain open to opportunities if appropriate valuations come up," said Reliance MF CEO Sundeep Sikka. Reliance MF, which is India's biggest mutual fund in terms of assets under management, has also become the first fund house to cross an average AUM of Rs 1 lakh crore. "Consolidation has already started in the industry and, going forward, only top 5-7 fund houses would command the major chunk of funds as investors will have confidence in large fund houses," Sikka said.
Reliance MF, the country's largest fund house, has witnessed an increase of about 13 per cent with the average AUM crossing the Rs 1,00,000 crore mark in May as compared to Rs 88,387.98 crore at the end of April. In May 2008, it had crossed the Rs 100,000 crore mark, but in terms of total assets under management. This time, the level has been crossed in the average monthly AUM, which is taken into consideration in the data released by the Association of Mutual Funds of India.
"The 21,000 level is meaningless. In the past five years, earnings have grown 40 per cent. One should look at the P/E. We are very positive on the market despite elections being around the corner," says Milind Barve MD, HDFC AMC.
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Monthly SIP inflow is Rs 6,000 crore, with a little over 1.75 million accounts
If one compares returns, the two public-sector ETFs have done better over the past year, but the ELSS category has done better over the trailing three and five years.
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The total AUM rose 40 per cent or Rs 6.3 lakh crore, to Rs 23 lakh crore at the end of November.
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The MF Industry had a cash-rich 2014 as it crossed the Rs 3 trillion mark.
Ideally, one should opt for a 5 to to 10- year period in an MF scheme or exit when the goal is reached.
While the number of international MF schemes is increasing, so is the confusion for investors.
The move to allow payments through digital wallets could give a fillip to distribution and reach for these investment vehicles, say experts.
'The ability to tailor schemes to market conditions and invest in unlisted equity and real estate, as well as commodities, makes Alternative Investment Funds a sought after platform.'
When selecting a liquid fund, stick to schemes with an AUM of above Rs 1,000 crore.
Over 700,000 new investor accounts have been opened so far in FY15.
Three closed-ended equity schemes have been launched in the past month or so and another is set to open soon for subscription.
Market regulator also announces measures for mutual funds sector.
As Prime Minister Narendra Modi visits US, fund managers from India and abroad expect improving sentiments and impressive returns from Indian markets to help attract billions of dollars flowing into the country's asset management industry.
The Prime Minister's visit to Japan reinforces the strategic focus of global partnership between India and Japan.
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In last few years, a number of global players have exited the Indian mutual fund business.
For a while, it seemed the markets were going on a free fall.
It boosts confidence to investors sitting on the fence.
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