Mumbai, Jun 29 (UNI) ADAG group Chairman Anil Ambani has urged regulator Sebi to simplify investment and advertisement norms for mutual funds. Investing in Mutual funds should be as easy as buying smartphones on Internet, Mr Ambani said. Speaking at the event of the Association of Mutual Funds in India (Amfi) he said one in 25 Indians invests in these products at present, but the investor base can be expanded 10-fold to 60 crore in five years. India’s mutual fund industry is today poised for its Jan Dhan moment, Reeling out figures, the Reliance Group chief said 9 out of 10 Indians have a mobile connection and 3 out of 10 have a smartphone, only 1 in 25 Indians has an investment in a mutual fund. 'The comparisons in a global context are even more staggering. There are as many as 58 asset management companies in the world which manage more money than India’s entire MF industry put together,' he said. India’s mutual fund industry is a relatively young industry.'In fact, I would claim it has barely moved out of its teens' he added. UNI JS NV NP1404