Banks often push their own mutual fund products to customers, according to industry sources.
Around Rs 66 out of every Rs 100 the mutual fund industry manages sits with a bank-owned fund.
The share increased 8.9 percentage points between March 2015 and March 2022, shows a Business Standard analysis of data from the Association of Mutual Funds in India (AMFI). Bank-owned mutual funds account for 66.5 per cent of the Rs 37.7 trillion managed by the industry, as seen in chart 1.
Banks often push their own mutual fund products to customers, according to industry sources. It is said that having a captive client base often determines a mutual fund’s success. Indeed, seven out of the top 10 mutual funds are backed by banks. The Securities and Exchange Board of India (Sebi) is reportedly looking
First Published: Sep 13 2022 | 6:17 PM IST