Poor investment decisions and chronic underperformance have led to the Aditya Birla Group’s mutual funds business steadily losing assets under management as well as market share.
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SBI is in discussions with its French partner on the contours of a near Rs 20,000-crore listing of the mutual fund house. But challenges in the form of a unique shareholder agreement and the recent poor performance of the AMC could derail plans.
While paying heed to the growing concerns of mutual funds around how mandatory investment norms are affecting junior employees, the market regulator has ensured the industry remains accountable to investors.
The CEO of the financial services business of the Aditya Birla Group has little to show for her near three years at the helm. That her digital push has turned out to be a dud only makes it worse.