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ICC organizes its 14th Mutual Fund Summit
The session emphasizes on comprehending the intricacies of wealth management in today’s market
Kolkata, 10th December 2022: Indian Chamber of Commerce (ICC) organizes its 14th Mutual Fund Summit to discuss Innovation & Investment in Wealth Creation and understanding the nuances of Wealth Management in today’s Market, through the Experts. The session witnessed valuable insights from Mr. N.S Venkatesh, Chief Executive, Association of Mutual Funds in India, Mr. Saugata Chatterjee, Co-Chief Business Officer, Nippon India Mutual Fund, Mr. Ananta Barua, Whole Time Member, SEBI, Mr. Timir Baran Chatterjee, Managing Partner & Mentor, TCN Global Economic Advisory Services and Mr. Atanu Sen, Chairman, ICC Expert Committee on BFSI.
At the initiation of the event, Chairman, ICC Expert Committee on BFSI, Mr. Atanu Sen, said, “Wealth creation in India is making our country the 4th largest economy across the world. So, when we discuss equity and debt instruments, it is a difficult subject to understand and to know the basics one needs to have a core vision of the near future. Today’s gathering will help us know the innovation and investment in mutual funds.”
Commenting on Indian economy, corporates & capital market, Co-Chief Business Officer, Nippon India Mutual Fund, Mr. Saugata Chatterjee, said, “SEBI came to light after 1993 as one of the regulars for both public and private institutions. It has put focus on disclosure and transparency. Any investments made by investors registered under SEBI have to disclose the necessary information under the equity monthly portfolio on the website. The performance of the scheme also gets disclosed. The second focus is to place the investment in the correct product, as in any product which comes should be at true level. This is measured with the riskometer. Thirdly, the focus on SEBI was to cut down the cost of mutual funds. The reason why people invest in Mutual funds are ease of business, risk diversification, liquidity, true cost and expertise in fund management. There are also several initiatives taken by SEBI to protect the investors’ money.”
Managing Partner & Mentor, TCN Global Economic Advisory Services, LLP, Mr. Timir Baran Chatterjee, said, ”I have identified a few critical areas in a corporation. First, cashflow management is critical because cash flow occurs throughout the year, so you should always have a strategy stock that will generate equity. Second, the most important corporate area is foreign exchange. The treasury manager must maintain complete balance on this issue. If inflation rises, the forging exchange will suffer. Risk management and treasury management must have proper risk management measures in place. So, in order for our country’s GDP to grow until 2047, we must perform a miracle in the mutual fund industry.”
Commenting on the outlook of Mutual Funds, Chief Executive, Association of Mutual Funds in India and the Guest of Honour, Mr. N.S Venkatesh, said, “If you look at the retail industry, it has nearly doubled from 10.9 billion to 20.9 billion rupees. This is due to the expansion of infrastructure. As our country grows, we must adapt to technology. Without technology, it is difficult for marketers to target the right audience, and thus technology bridges the gap to reach out across the country. Corporates can use technology to reduce production costs and generate enough money to invest in the market, resulting in the country’s growth. Mutual funds play an important role in channeling such investments. Because of mutual fund investment, the market is also witnessing the development of corporate bond markets.”
Discussing on developments in Investment Management, SEBI Whole Time Member, Mr. Ananta Barua, the Chief Guest, said, “From 1991 to 2002, the market experienced a huge boom as many investors contributed significantly to the investment sector. However, due to inflation after 2002, the investment sector suffered multiple erosions, resulting in the country’s loss. In the midst of this, policymakers and business leaders were working to revitalize the Mutual Fund Industry by establishing more Mutual Funds. Following 2013, there was a significant increase in infrastructure development, which changed the outlook for our country. AI and machine learning have aided us in becoming the world’s largest manufacturing industry.”
