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The Indian mutual fund industry has potential to grow its assets under management to 50 per cent of GDP, Himanshu Vyapak, Deputy CEO, Reliance Capital Asset Management Ltd, has said.
Currently the cumulative net assets managed by all the mutual funds totalled about Rs 7 lakh crore, accounting for about 10 per cent of the Gross Domestic Product (GDP).
The Indian mutual funds industry has focused its efforts on improving investor awareness and distribution awareness.
This year the mutual fund industry has decided to adopt 150 districts — which have been allocated to various fund houses — to increase investor awareness about mutual fund products, Vyapak said at an Assocham event in the Capital today.
Last year, the mutual funds industry had conducted about 15,000 investor camps across the country.
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