Indian mutual funds are in dire need of talented and experienced investors and stock-pickers, according to industry analysts.
A shortage of adequately experienced people to take to top roles in mutual funds, combined with the unattractive stressfulness associated with being a chief investment officer, is posing a significant challenge to many hoping to invest in India, a Reuters report claims.
This is despite the current boom in the Indian mutual fund industry, thanks to the country’s rapidly expanding economy. Currently, the funds have an estimated $62 billion worth of assets currently under management.
The pessimistic view comes as one of India’s top chief investment officers, Sandeep Sabharwal, announces his resignation from the Lotus India mutual fund – the asset management firm partly owned by Temasek Holdings of Singapore. Although Mr Sabharwal declined to comment on the reasons for his decision to quit, local reports suggest that “personal reasons” have been cited.