#969 Nilesh Shah Explains: Why Mutual Funds Must Go Beyond Equity | Govindraj Ethiraj | The Core Report

Nilesh Shah explains why Mutual Funds must go beyond Equity as India’s investment landscape evolves toward debt, hybrid, gold, real estate, alternatives and unlisted investments.In this episode of The Core Report Weekend Edition, Govindraj Ethiraj speaks with Nilesh Shah, MD, Kotak Mahindra Asset Management Co. Ltd, about the future of mutual funds in India, retail investors and the need for greater diversification.Nilesh Shah argues that equity remains attractive, but mutual funds cannot remain synonymous with equity. He explains why the industry needs to expand into debt, hybrid funds, gold, real estate, REITs, InvITs, SIFs, global investments and alternative assets to reach a much larger investor base.The conversation explores how mutual funds could give retail investors access to opportunities traditionally available mainly to high net worth investors, including unlisted companies and private markets. Shah explains how diversification can create different risk and return profiles and make complex investments more accessible.Gold and real estate are key opportunities. Shah discusses innovative gold investment products, the potential of REITs and InvITs, and whether future generations may prefer professionally managed real estate investments over owning individual properties.The discussion also examines SIFs and alternative investment strategies, the shortage of specialised investment talent, and how mutual fund distributors can help investors manage risk, greed and fear.Shah also shares his outlook for the Indian stock market, discussing IPO supply, FPI flows, oil prices, corporate earnings and valuations. He expects equity returns to remain in the high single digit to low double digit range rather than the 20 to 30 percent returns some investors may expect.Beyond markets, Shah discusses AI, deep tech, manufacturing, land reform and labour reform, and what India needs to achieve faster and more sustainable economic growth.At the heart of the conversation is a bigger question. Can India reinvent mutual funds to give ordinary investors access to a much wider range of investment opportunities?Watch the full conversation for insights on Nilesh Shah, mutual funds, future of mutual funds in India, equity mutual funds, debt funds, hybrid funds, SIFs, REITs, InvITs, gold investment, alternative investments, unlisted markets, asset allocation, Indian stock markets and India’s economic growth.Chapters:00:00 Why Mutual Funds Must Go Beyond Equity00:54 Does the Mutual Fund Industry Need Reinvention01:47 Why Equity Alone Cannot Bring the Next 34 Crore Investors02:30 Will Mutual Funds and Alternatives Converge04:01 Has Equity Lost Its Attraction05:00 The Role of Mutual Fund Distributors06:17 The Future of Gold Investment Products07:20 Could REITs Replace Individual Real Estate Ownership08:17 Bringing Unlisted Investments to Retail Investors09:22 Are Higher-Risk Investments Worth It? 10:05 Why Mutual Funds Need to Expand Beyond Equity10:43 Can One Investor Master Multiple Asset Classes? 12:53 Are Investors Relying Too Much on Distributors? 14:11 Should Investors Rethink Self-Advising? 15:50 3 Questions Before You Put Your Money to Work 16:44 Nilesh Shah’s Indian Equity Outlook18:15 Is Oil Still Driving Indian Markets? 19:00 The Macro Signals Investors Should Watch 21:35 Who Should Allocate Capital in IndiaDiscover why mutual funds must go beyond equity and how this could reshape investing in India. Watch Nilesh Shah and Govindraj Ethiraj on The Core Report as they explore the future of mutual funds in India, equity mutual funds, debt funds, hybrid funds, gold investment, REITs, InvITs, SIFs, alternative investments and unlisted investments. Learn about smarter asset allocation and Nilesh Shah’s Indian stock market outlook.#MutualFunds #NileshShah #IndianStockMarket #Investing #AssetAllocation #TheCoreReport #TheCore