New Delhi, Mar 03: With a $32-billion mutual fund industry and 40-years of experience, India is likely to share its experience in the administration of funds with other countries including Pakistan.
This will get underway when the delegates from countries -- Australia, Bangladesh, China, Hong Kong, Japan, Korea, Malaysia, Pakistan, the Philippines, Singapore and Taiwan -- will be in the Capital for the 9th Asia Oceania Regional Meeting of the International Investment Fund Associations. Hosted for the first time in India by the Association of Mutual Funds of India (AMFI), a six-member delegation from Pakistan will be attending the conference. "India has certainly the capabilities in terms of the standards set by the industry and is on par with international norms," AMFI chairman AP Kurian told reporters. Asked whether it amounted to showcasing India, Kurian replied in the negative but said: "standards and principles (of mutual funds) are common in all countries and we will like to know the markets in our neighbourhood (including Pakistan) and how it can be made better." The visit of the Pakistani delegation assumes significance in view of normalisation of relationship between the two. India has already offered its expertise on social security for the unorganised sector in Pakistan. Highlighting that India had taken the lead in performance of non-equity scheme by linking it to levels and adhering to 100 per cent disclosure on a monthly basis, he said, information sharing, especially on standards, is aimed at the betterment of mutual fund industry in the region. Bureau Report