Indian Mutual Fund Investors Won’t Forgive Their Fund Managers
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.