LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Why Deepak Parekh made massive claim about mutual funds AUM

Besides, structural reforms like a formalisation of the Indian economy, financialisation of savings, financial inclusion endeavours, rising share of EPFO funds being allocated to equities, will all play out in strengthening the flows to the mutual fund industry.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Why Deepak Parekh made massive claim about mutual funds AUM
Written By: PTI
Updated: Fri, Aug 24, 2018
10:15 am
Mumbai, PTI
RELATED NEWS
 How good is daily SIP plans to beat market volatility? How good is daily SIP plans to beat market volatility?

The asset base of mutual fund (MF) industry is likely to double to nearly Rs 50 lakh crore in the next five years, HDFC chairman Deepak Parekh said on Thursday. Why was this massive claim made? Owing to a large working population with better job opportunities and shifting of investors’ preference to such financial products! 

“Compared to global standards, in India, mutual fund AUM penetration as a percentage of GDP is still very low at 11% compared to the global average of 62%. This means there is a huge market that still has potential to be tapped,” Deepak Parekh said at industry body Amfi summit.

Besides, there has been a shift in the saving habits of Indians from gold and real estate to financial savings and this trend is unlikely to reverse, which is also going to help in increasing the asset base.

“The average assets under management (AUM) presently stands at Rs 24 lakh crore and most asset management companies forecast that the AUM of mutual funds is likely to double within the next five years. This means that the mutual fund industry would be nearly Rs 50 lakh crore,” he added.

Further, he said the growing middle-class and a large working population with better job opportunities will help increase the pool of investible funds.

Besides, structural reforms like a formalisation of the Indian economy, financialisation of savings, financial inclusion endeavours, rising share of EPFO funds being allocated to equities, will all play out in strengthening the flows to the mutual fund industry.

The industry has witnessed a remarkable growth of over 86% in just two-and-half years in terms of the asset base mainly due to higher retail participation. Besides, a larger part of this growth has come in equity oriented funds.

Watch this Zee Business video

The AUM has increased to Rs 23 lakh crore at the end of June this year from Rs 12.3 lakh crore as in March 2016. According to Parekh, the asset management companies will have to simultaneously shape their digital strategies while increasing their physical footprint. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
mutual funds (MF)Deepak ParekhHDFC Asset Management Companybanking and financial services
RELATED NEWS
 How good is daily SIP plans to beat market volatility? How good is daily SIP plans to beat market volatility?

LATEST NEWS

Gold Price Today 3-03-2021 –Gold cheaper by Rs 4600 in 2021, Silver by Rs 766; time to buy gold NOW expert says

Yes Bank Share Price Today: Make money from this stock - check how

Jesus hits double as rampant Man City go 15 points clear with Wolves win

JEE Main 2021 March application form released: See last date for application, exam dates and all other details here!

CBSE Board Exam 2021: Change in this class 12 board exam answer sheet: Students can get sample answer sheet and all other details here

Hema Malini: My role in ''Sholay'' has been one of the toughest

Sissy Spacek, Ed O'Neill to star in Amazon sci-fi series 'Lightyears'

Stocks in Focus on March 3: MTAR Technologies IPO, Tata Power, IRCON, Telecom Stocks to Tyre Stocks; here are the 5 Newsmakers of the Day

NEET 2021 exam date latest news: Candidates check this big update

Tata Power DDL rolls out live peer-to-peer solar energy trading project

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved