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Is there a silver lining? The Indian mutual fund industry

Another aspect which impacts the operation of the AMCs is the increased level of regulatory disclosure requirements. Over the years, the information and data disclosures required from AMCs and schemes have increased steadily. Operating teams are required to make multiple disclosures at regular intervals, which in turn increase compliance costs. The related moot question is: does an average investor have the inclination to read and assimilate the flood of information? Should there be an examination of the amount and periodicity of disclosures, and the shape and manner in which it is communicated to investors?. | Is there a silver lining The Indian mutual fund industry cn Confederation of Indian Industry A.Mutual Fund u mm it 2012 S s 8 International Conference 21 June 2012 Trident Hotel Nerimen Point Mumbai pwc Chairman s message The mutual fund industry today presents a picture of opportunity and challenges. As the industry sensitises itself to the changing regulatory landscape business strategies are endeavouring to respond to these developments. Amidst this changing business and regulatory environment asset management companies and all service providers including distributors have to re-examine their business models and embrace the changing business landscape. Notwithstanding the recent growth challenges mutual funds continue to be an efficient vehicle offering varied investment products at a reasonable cost to households to participate in the long-term growth prospects of our economy. This report by PwC titled Is there a silver lining attempts to take an all around view of the dynamics and have focussed on looking for the hidden opportunities. We would like to thank PwC for their efforts in preparing this report and hope that you find it useful and interesting. We would welcome any comments and observations to help us prepare better for the next summit. A Balasubramanian Chairman - CII Mutual Fund Summit 2012 and Chief Executive Officer Birla Sun Life Asset Management Co Ltd Foreword We take pride in continuing our association with the CII Mutual Fund Summit. This document presents the perspective of industry stakeholders along with our points of view on the current scenario in the mutual fund industry. While a lot has been said about distribution we have attempted to take an all-encompassing view of the issues and have focussed on looking for the hidden opportunities. We have tried to examine the business structure and its operations in order to find ways of stimulating redesign and innovation. We have also covered regulatory changes both past and anticipated as well