India-managed assets to hit $1trillion by 2015

With lasting high economic growth, prominent international consultant, Boston Consulting Group, has estimated that India-managed assets would exceed $1 trillion by 2015 from its current level of $169 billion. The segments which will witness rapid rise in assets during the current decade include pensions (from $55 million to $220 million),domestic mutual funds ($70 million to $520 million), international funds invested in india($30 to $290), private banking including portfolio management services(($8 to $180 million),, unit linked insurance($8 to$40).

The banking industry particularly private sector and foreign banks are earning substantial fee based income by selling third party products.

BCG has suggested five measurs for asset mangers to seize the booming opportrunites in asset management sector. The asset managers have to beyond top eight cities, develop the international opportunity in retail as well as institutional segments, innovate with new products like gold, real estate commodities, address potential adjacent spaces in PMS, health MFs, optimise distribution channel and build global brand.