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Mutual Funds' Penetration Remains Extremely Low In India: HDFC AMC's Munot

Stressing on HDFC AMC's fiduciary duty to its customers, Munot said transparency and good governance are the key pillars in upholding the highest standards of fiduciary responsibilities.

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Mutual funds' penetration remains extremely low in the country despite strong growth in the past decade, HDFC Asset Management Company chief Navneet Munot said on Monday.

Addressing shareholders of the company, Munot said the economy should come back to a steady recovery path with the COVID-19 curve showing signs of flattening and the nationwide vaccination drive gathering steam. 'The markets are clearly exhibiting confidence, signalling better times ahead. Our people are well equipped with top class digital infrastructure to function seamlessly,' he added.

As India continues on its growth journey, the fund house aspires to be a wealth creator for every Indian, with an audacious vision to be the most respected asset manager in the world, he added. 'At HDFC AMC, we are well positioned to capitalise on the opportunities with pedigree, people, processes, products, performance, presence, partnerships and platform,' the MD and CEO of HDFC AMC said.

In the next few quarters, the asset management company plans to expand its equity product portfolio to cover sector/specific themes, international markets and passive strategies.

Stressing on HDFC AMC's fiduciary duty to its customers, Munot said transparency and good governance are the key pillars in upholding the highest standards of fiduciary responsibilities.

(PTI)


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