There are so many people and organizations tracking mutual funds and their investments and performance that it is very difficult to pull wool over people’s eyes and ears.
Plus the fund industry is not a local thinggy, it’s a global phenomenon and the industry has a size of nearly twice the US GDP…ie about 35 trillion USD. By any standard that is a huge number. In fact its bigger than banks AND insurance put together.
For a very long time it took its time in establishing itself in India. FOR WHATEVER REASON. Just compare the size of the China MF industry and the Indian one…India started from 1964 and China from 1993. Yet in China the industry is twice the size of India’s and counting the equity schemes only.
However, in the recent past the numbers are zooming up. And as people move away from physical assets to financial assets, the speed will only increase. Success begets more success, as they say.