In­dian Mu­tual Fund In­vestors Won’t For­give Their Fund Man­agers

The Day After - - FROM THE EDITOR'S DESK - Beenu Mishra, New Delhi

In­dian re­tail in­vestors won’t eas­ily for­give their fund man­agers, nor will they quickly for­get this wealth de­struc­tion. Out of 416 open-ended, on­shore eq­uity funds, 401 have lost money this year. Tech funds, the only ones to have per­formed de­cently, have been helped by Asia’s worst-per­form­ing cur­rency of 2018. And that’s only be­cause In­dian soft­ware ex­porters earn rev­enues in a strong dol­lar and pay wages in ru­pees. Most other mu­tual funds are down 20 per­cent to 40 per­cent in a flat mar­ket.

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