India’s mutual fund industry leaders, regulators and market experts came together in Mumbai on June 30 for the 5th edition of the Moneycontrol Mutual Fund Summit, where discussions centred on the future of wealth creation, investor participation and the next phase of growth for the country’s asset management industry.

According to a Moneycontrol press release, the summit, held under the theme ‘From Innovation to Impact’, brought together top executives from asset management companies (AMCs), chief investment officers, market strategists and policymakers to deliberate on how the mutual fund industry can evolve into a truly mass-market vehicle for wealth creation.

The event opened with a keynote address by Manoj Kumar, Executive Director of Securities and Exchange Board of India (SEBI), who spoke about the regulatory changes shaping the future of India’s asset management sector. The summit also featured a panel discussion on Indian capital markets and a series of fireside conversations with some of the most influential leaders from the financial services industry.

Addressing the gathering, Kumar highlighted the vast growth potential of the sector and stressed the need to expand investor participation across the country. “In a country of 150 crore people, the question we must ask ourselves is — can we take the mutual fund industry to 50 crore investors?” he said. He noted that SEBI has undertaken a comprehensive overhaul of regulations that had remained largely unchanged for nearly three decades, while also creating opportunities for new players and introducing provisions such as performance-based fee structures.

Kumar added that regulation alone would not drive the industry’s future growth. He emphasised the importance of digital distribution, simplified products and building investor trust beyond India’s major urban centres to unlock the next phase of expansion.

Among the key speakers at the summit was Navneet Munot, Managing Director and CEO of HDFC Asset Management Company, who described India’s ongoing shift from a nation of savers to a nation of investors as a social and cultural transformation. Drawing parallels with retirement investment trends in the United States, Munot referred to the current phase as “India’s 401k moment”.

He pointed out that the systematic investment plan (SIP) book has expanded from around ₹3,000 crore in 2016 to nearly ₹30,000 crore today. Despite this growth, only about 6 percent of India’s household balance sheets are invested in equities, suggesting significant room for future expansion. Munot also expressed confidence that India’s annual household savings could surpass those of the United States within this decade, creating substantial opportunities for capital formation and entrepreneurship.

Offering insights on product innovation and investor behaviour, Sid Swaminathan, Managing Director and CEO of JioBlackRock Mutual Fund, said the industry must cater to investors at different stages of their financial journeys. He stressed that new investors require simple products and disciplined investing habits through SIPs, while experienced investors increasingly seek advanced options such as factor investing, thematic investing and Specialised Investment Funds (SIFs) to diversify their portfolios.

Swaminathan noted that these products are not designed for every investor but can serve as complementary investment avenues when supported by proper education and positioning.

The summit featured participation from several prominent industry leaders, including Sundeep Sikka of Nippon Life India Asset Management, B. Gopkumar of Axis AMC, Swarup Mohanty of Mirae Asset Investment Managers India, Vishal Kapoor of Bandhan AMC, Jatinder Pal Singh of ITI Mutual Fund, Rahul Singh of Tata Mutual Fund, Rishi Kohli of JioBlackRock Mutual Fund, Akhil Chaturvedi of Motilal Oswal AMC, Trideep Bhattacharya of Edelweiss Mutual Fund, Ramesh Mantri of WhiteOak Capital Mutual Fund and Shridatta Bhandwaldar of Canara Robeco Mutual Fund.

Presented by HDFC Mutual Fund, co-presented by JioBlackRock Mutual Fund and powered by Axis Mutual Fund, the summit was also supported by Tata Mutual Fund, Motilal Oswal, ITI Mutual Fund, Trust Mutual Fund and Edelweiss Mutual Fund as event partners. Reliance Industries served as the associate partner. The event was streamed live to investors across the country, reinforcing Moneycontrol’s position as a platform for discussions shaping the future of India’s mutual fund industry.