Kalpen Parekh, President, DSP Blackrock Investment Managers said that though the range of alpha has narrowed in the last 2-3 years, he is not worried. “Mutual Fund as a vehicle gives chance to invest from cash funds to international funds. As long as absolute returns out-perform other options, it is fine,” he said. Shah feels that the mutual fund industry will have to add value to investors. Fund managers, he said, using a cricket analogy, have to adapt to modern equipment and be a Virat Kohli instead of a Sunil Gavaskar.