Ahmedabad, Feb 19 (UNI) Despite economic slowdown, the Mutual Fund sector is seeing a steady growth due to mainly lowering of bank fixed deposit rates prompting people to look for investment opportunities with better returns, National Sales Director of asset management company Franklin Templeton, Peshotan Dastoor, here on Wednesday said.
Talking to mediapersons, Dastoor said that the mutual fund sector has seen a growth of 20 pc last year while the CAGR for the past five years was also similar.
He said that the main reason behind it was the lowering of bank deposit rates. "Also the three A's of increasing Awareness, easier Access and proper Advice have played a role in it. The phenomenon was co-related with the state of economy and the lower interest rates. Banks were now not giving more than 6 to 7% return on FD's," Dastoor said.