Demonetisation has impacted and boosted cash inflows into banks. In the last five months, the strong inflow of funds has positively impacted the equity market via investments in mutual fund, catapulting net buying of equity by mutual funds over the 25,000 crore mark. According to data from AMFI, the AUM of the Indian Mutual Fund industry had reached Rs 17.4 trillion mark in January, recording a year-on-year growth of 36.4 per cent.
It is in this context that the 10th Annual ICC Mutual Fund Summit, organized by the Indian Chamber of Commerce, on February 18, 2017 at Kolkata, brought under one roof industry veterans, renowned experts, key officials and thought leaders from across the Indian Mutual Fund domain. Themed “Unearthing the potential for progress,” the event saw high-energy discussions pertaining to strategies for inducing further penetration and growth in the MF industry.
Mr. Piyoosh Gupta, Chief General Manager, SEBI, the Chief Guest of the event, spoke on the need to boost investment activity in 12-odd states located in the eastern region of the country and on why MF industry should focus more on the B15 cities as against the metros.
A prime highlight of the summit was a panel discussion on “Conquering barriers through business innovation”. The discussion saw panelists cerebrate upon the relevance of digital engagement as an essential differentiator and a business enabler in current times, and the need to leverage analytics to derive insights into pro-active investor acquisition and engagement. They also cogitated on the need to develop physical and online versions of alternative distribution channels to accelerate Mutual Fund participation. Training and development in the advisory domain pertaining to the country’s wealth management industry were another key topics of discussion.
Special guest and panelist, Mr. N K Prasad – President and CEO, CAMS, highlighted how CAMS – leverages digital technology towards transforming and reinventing the overall investing experience, by implementing consistently pioneering technology innovations for mutual fund investors and distributors such as Investor Mailback statements for portfolio view and funds net for distributors. The discussion panel also comprised
Mr. Milind Barve, MD, HDFC Asset Management Co. Ltd.,
Mr. Sanjay Sapre, President, Franklin Templeton Asset Management (India) Pvt. Ltd.
Mr. Ashutosh Bishnoi, CEO, Mahindra Asset Management Co. Pvt. Ltd.
Mr. Himanshu Vyapak, Deputy CEO, Reliance Nippon Life Asset Management Ltd.
Mr. Hemant Jhajhria, Partner, Financial Services – Strategy & Digital, PwC India
Mr. Arun Laddha, Director, J.R Laddha Financial Services Pvt. Ltd.
Other eminent guests at the event included –
Mr. Anil Chopra, Director and CEO, Bajaj Capital Ltd.
Mr. Aniruddha Chaudhuri, Zonal Head – North South and East, ICICI Prudential Asset Management Co. Ltd.
Mr. Ashish Agrawal, Director – JR Laddha Financial Services Pvt. Ltd.
Mr. Deepak Mehta, Sr. VP & Head – SIP, Balanced Products & Retail Banking Channel, UTI Asset Management Co. Ltd.
Mr. Dhirendra Kumar, Founder and CEO, Value Research India Pvt. Ltd.
Mr. Joydeep K. Roy, Partner, Insurance & Allied Businesses, PwC India
Mr. Neeraj Kulsreshtha, COO, BSE Ltd.
Mr. Prashant Vagal, Sr. VP & Head – Business Development & Products, NSDL
Mr. Sanjeev Chakraborty, President ICAA
Mr. Suresh Soni, CEO, DHFL Asset Managers Pvt Ltd.
Computer Age Management Services (CAMS) is India’s premier Mutual Fund Transfer Agency serving over 62% of assets of the industry across 15 Mutual Funds. Leveraging superior technology, CAMS brings several innovative services to Mutual Fund investors and distributors. CAMS is also a service partner to leading Insurance Companies, Banks, NBFCs and Alternate Investment Funds. To know more visit http://www.camsonline.com.