Finance and investment are still not very well represented in the online sector. Now, the website Cafe Mutual has been launched with the aim of being a comprehensive source for staying current on issues and news relevant to people working in the finance industry, curating expertise on all aspects of the industry.
Prem Khatri, Founder and CEO of Cafemutual, said, “Our focus is on the people engaged in the business of mutual funds – everyone involved in the chain of manufacturing or distribution of mutual funds. The content is oriented towards the mutual fund professional and not the investor. Overseas, there exist a vast number of websites and magazines that are focused on the business of financial services. But in India, we have none.”
The site wants to reach out to people working in the industry, such as fund house employees, service providers, AMC directors, journalists, students, bureaucrats and consultants, in short, any person who is connected with the mutual fund business in any manner.
According to Khatri, “Growth in the booming mutual funds business has led to an exponential growth in the number of distributors and employees. The distributors alone are currently estimated to be 1.2 lakh. In spite of this, there has been no organised effort to address their information requirements. Very often, their knowledge and skills leave a lot to be desired as they focus primarily on acquiring mandatory certification and basic product knowledge. Moreover, with the environment turning increasingly complex and challenging, there is need for them to raise their game by turning into more informed and better professionals.”