The Purpose Incentive in Mutual Funds

Investors are realizing that there is no point in paying top dollar for research because 99% of these fund managers over the long term are not able to beat index. If you look at HDFC, AMC's which is the asset management company, a significant portion of its earnings is paid out to its own staff who work hard and deserve their money. So it's just a natural extension of saying, I will go and check all the companies and the fundamentals myself. There is no saint in the active management fund industry either. And even they have not done their job well in terms of keeping governance and check exactly.