Bullish over the growth prospects of Indian markets, top fund house Reliance Mutual Fund's CEO Sundeep Sikka on Monday said domestic mutual funds in India have seen inflows worth $8 billion (approximately Rs 52,688 crore) in the last one year.
Bullish over the growth prospects of Indian markets, top fund house Reliance Mutual Fund's CEO Sundeep Sikka on Monday said domestic mutual funds in India have seen inflows worth $8 billion (approximately Rs 52,688 crore) in the last one year.
"This shows a renewed sense of optimism about Indian markets, where foreign investors also continue to repose faith," Sikka told a gathering of institutional investors and fund managers here.
Sikka, who is also Chairman of mutual fund industry body AMFI, said there have been a lot of ambitious projects that have been launched, and Prime Minister Narendra Modi and Finance Minister Arun Jaitley have been travelling across the world to invite foreign investors.
"The stock markets have been at life time highs and the domestic institutional investors have invested huge amounts of money in the markets. While foreign investors are investing, domestic asset management companies have seen $18 billion of inflows in the last 12 months," he said.
The summit organiser Asia Pacific Investors Cooperation (APIC) CEO Ana Sharp said it is a business platform created by and for Asian institutional investors including pension funds, sovereign wealth funds, government funds, social security systems, and insurance companies.
"These institutions represent APIC's private membership. APIC covers 22 Asia Pacific markets and the members currently present here at the Summit represent $10 trillion worth of Assets Under Management," she added.
Finance Minister Arun Jaitley delivered keynote address at the summit.
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