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ET Mutual Fund Summit 2017
September 20, 2017
The Mutual Fund industry has huge growth prospects in the coming years, with the increase in saving patterns of the people, the AMC will see great transition in investment patterns. It necessary to understand the need of the people and provide them with the right investment plan. Understanding the huge potential underlying in this sector, we at the Economic Times take pleasure to announce the next edition of the Mutual Fund Summit 2017 in Mumbai. This summit will discuss and deliberate on the impact of demonetization on creating a clean economy through investment in Mutual Fund.
The act of demonetization and introduction of the goods and service tax are initiatives undertaken by the government to transform the country’s economy to a formal, clean, transparent and upfront economy with tracking of financial transactions and due taxes. Small savings have always been the backbone of the economy and savings have either been through formal or informal methods. India, has this huge chunk of young working population who today look at savings as an investment to attain their financial goals. Post demonetization, somehow people have found respite in mutual funds investment which seemed to be more reliable, efficient and ensures a good sum of return over a period of time.
Given this the last quarter of the financial year 2016-17 saw a sudden rise in the flow of money in mutual fund investment. The financial year 2017 started positively for the mutual fund business with the average asset under management (AUM) increasing 6.8% quarter on quarter growth. The first quarter has recorded a surprisingly Rs.19.5 lakh crore in comparison to that in the last five years and this growth is mainly driven by retail investors.