How India’s MF ecosystem has evolved since the 90s
SummarySebi’s interventions, technological advances have revolutionized the mutual fund landscape
It is one of those days that most Gen X investors still remember vividly. A tryst with history on 16 May 1992. A long, serpentine queue had formed in the heart of India’s capital New Delhi early that morning. The restless queue, which was waiting for Unit Trust of India (UTI) to open its office, soon went berserk and the police had to be called in. And all this happened because UTI, the country’s largest fund house then, had launched a close-ended fund, Mastergain 92, and every investor wanted to lay their hands on it, says Dhirendra Kumar, CEO of Value Research.