India’s growth potential can easily accommodate existing, new players in MF industry: JM Financial MF

economictimes.indiatimes.com:

Even though the mutual fund industry in India has been competitive, the growth has remained largely steady, thanks to the strong inflows, particularly in the last three years. With newer players such as Zerodha, Groww making their entry into the $560 billion mutual fund industry, and Jio Financial Services looking to soon enter, the competition is likely to get hot.

However,Seemant Shukla ofJM Financial Mutual Fund believes that India is quite an underpenetrated market globally, leaving enough opportunities for both existing as well as new players. “The anticipated growth in India can easily accommodate both existing and new players with varying strategies, be it passive or active investments,” Shukla, who is the chief business officer at the asset management company, told ETMarkets in an interview.
Shukla believes that digitalisation and digital channels can contribute in a big way to expand the reach. “Considering that the US has multiple asset management companies for a population of 35 crore, it’s clear that we have a long journey ahead of us,” he said. Edited excerpts:


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