Et 21-12-2006
Managed assets in India will exceed more than $1 trillion by 2015 says the global asset management 2006 report from Boston Consulting Group. This means an annual growth rate of 21% for the next nine years. The categories include, domestic MFs, pension funds, and international funds investing in India.
Indian mutual funds currently currently hold $70 billion in assets and this figure will grow to around $420-520 billion by 2015.
Assets under management(AUM) as a percentage of GDP work out to only 8% currently in India as compared to 26% in Korea and 36% in Brazil. The figure for USA works out to 70%.
In 1982, US households had 67% of their assets into cash and bank deposits, but by 2002, the same fell to 44% as managed assets moved up from 22.8% to 42.5%.
With Chidambaram and the congress government making bank deposits unattractive relative to mf units, BCG report predicts that India is expected to follow the US route.
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