Personal Finance Outlook 2013: Mutual Funds - Overcoming hurdles
- No permission for Gujarat roadshow: Arvind Kejriwal released after brief detention
- RJD, Congress agree on seat-sharing deal for Bihar
- Supreme Court takes suo motu cognisance of ink attack on Subrata Roy
- Rahul slams BJP, says party wants to vest power in one person
- Sheila Dikshit appointed Kerala Governor; Congress-RJD pact likely today
In view of the various policy measures introduced by the government, the outlook of the industry for FY13 is positive, with a bias towards equity. Debt is also likely to perform well. If the market shows positive movements, the MF industry can look forward to overcoming the gloom. The Indian growth story is one of ambitious pursuit, financing of which would necessitate growth of a healthy secondary debt market, and a deeper equity market. The MF industry becomes a very important institutional arrangement in such a transition of the financial sector. The happenings of the year passed by is a transitory phase, notwithstanding the large redemptions and exit by some of the reputed players. The industry will have to reorganise and reorient in a meaningful manner to remain relevant.
he author is MD & CEO, IDBI Mutual Fund