Long-Term Orientation and Purpose in Fund Managers

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Over a 10-year period, fund managers in the bottom two quartiles have a 90% chance of being in that position for two or three years, while those in the bottom quartile have a 60-70% probability of staying there in the same timeframe. The best fund managers also have a 47% chance of being in the bottom decile in two or three different years. Long-term orientation is crucial for success, along with a deep sense of purpose and trusteeship when managing others' money. Talent, investing framework, and processes are essential, but lacking integrity can undermine intelligence and energy, as integrity is key according to Buffett.

I talk to Navneet Munot, MD and CEO of HDFC Mutual Fund. He is also the chairman of the Association of Mutual Funds in India or AMFI, which is the governing body of asset management companies in India. Navneet is a visionary voice who has not only shaped the landscape of investment in India over the years but also stands as a testament to the power of perseverance and insight. From humble beginnings, he has carved a path that many only dare to dream of, embodying the very essence of determination and foresight. His story is not just one of financial acumen but of inspiring a generation to look beyond the apparent and strive for long-term success. In this episode, he shares his insights, experiences, and vision for the future of #investing in India.