What I realize is NIFTY returns are definitely better than bank FD returns in the bracket of every two years starting from 2009. Almost all the Fund Managers claim they have given better returns than the Index. Given that SEBI should allow AMCs to come out with products with guaranteed returns in a span of 2-3 years which can be marginally better than bank interest. That will make lot of business sense for them instead of their mode of earning income only thru expense ratio today. In a bad time-frame they will lose and in a good time-frame they gain, stable market may give only marginal gains. But thats how any business works across the globe. Overall I feel regulator should allow Fund Managers to be more business-oriented with a win-win situation both for themselves and the investors.