"Nobody has to push passive. The data will talk for itself."
Long before ETFs became mainstream, Sanjiv Shah and Rajan Mehta bet on an idea that very few believed in. They didn't just build India's first ETF - they helped lay the foundation for passive investing in the country.
We get into:
- Why they believed it was nearly impossible to consistently beat the market
- The entrepreneurial journey behind launching India's first ETF
- How Nifty BeES, Gold BeES and Liquid BeES changed the industry
- Why passive investing took years to find acceptance in India
- The incentive problem that shaped active investing
- How EPFO and institutions accelerated ETF adoption
- The biggest myths around passive investing
- What they would build if they were starting all over again
What stayed with me was that the biggest ideas don't begin with consensus. They begin with conviction.
Recommended for:
Investors, financial advisors, mutual fund professionals, entrepreneurs, and anyone curious about how conviction can create an entirely new category.
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📌 Disclaimer: All visuals and graphics used in this video belong to their respective owners. Credits are mentioned on-screen wherever applicable.
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Chapters:
00:00 Presented By
00:05 Trailer
01:55 Disclaimer
01:59 Introduction
03:53 Why Passive Investing?
06:01 The History of ETFs in India
07:16 Why They Believed in ETFs
09:11 Why ETFs Didn't Take Off
10:53 Finding the First ETF Investors
15:23 India's First Gold ETF
16:33 How Gold ETFs Actually Work
18:38 Total Return Index (TRI) Explained
20:42 Active vs Passive Investing
25:09 Mid-Cap Funds vs Passive Investing
27:26 Why Benchmark AMC Was Sold
30:57 The Story of Liquid BeES
34:41 Real Stories Behind ETFs
36:42 How ETF Market Making Works
41:32 Convincing EPFO to Invest in ETFs
44:54 ETF Myths Busted
50:45 India vs Global ETF Markets
52:45 Advice for New Entrepreneurs
54:32 Audience Q&A
54:39 Q1: Biggest ETF Risk
55:06 Q2: Safest ETF to Invest In?
55:45 Q3: Future of Passive Investing
56:28 Q4: Advice for Young Investors
57:18 Closing Thoughts
57:55 End Credits
[Sanjiv Shah, Rajan Mehta, Benchmark AMC, MF Chronicles, ETF, Exchange Traded Fund, Passive Investing, Index Investing, Nifty BeES, Gold BeES, Liquid BeES, India's First ETF, Active vs Passive Investing, Mutual Funds, ETF Investing, Gold ETF, Total Return Index, TRI, Market Efficiency, EPFO, Product Innovation, Financial Markets, Investing in India, Benchmark Asset Management ]