ASSET MANAGERS PITT FOCUS BACK OIV PERFORMANCE

摘要

To judge the Indian mutual fund industry by assets under management, the most recent fiscal year was not a good one. Although the Indian economy grew by 8.5 percent in the 12 months ended March 31 and the benchmark Bombay Stock Exchange's sensitive index, or Sensex, rose 11 percent in that period, the fund industry's average assets declined by 6.3 percent. You wouldn't know business was down by talking to industry executives, though. Retail investors, who had drifted away in recent years, seem to be taking mutual funds a little more seriously as an investment option. In addition, fund managers are coming to grips with a series of regulatory changes in recent years designed to get the industry to focus more on investment performance than on razzle-dazzle marketing.These developments have injected a healthy dose of optimism into an industry that a year ago was awash in gloom.