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The article “MBAs, MBAs everywhere” (Business Line, December 26) made incisive reading. It has become a fad to profess to be an MBA. However, the quality of MBAs churned out by various institutes leaves much to be desired. Let us take just one sector — mutual funds.

The fund managers, most of them being MBAs/IIM alumni belong to a high-wage island, entrusted with managing funds pooled from all types of investors. But they seem to have been caught napping. If they could not foresee what was coming, with the writing clearly on the wall, of what use is their business management degree?

They are in the same category of some investors who left their hard-earned money in their hands for proper management and are none the better if they had themselves managed their funds without having to pay any fee. Otherwise, how can they explain the poor performance of balanced funds and income funds, considering that fund managers ought to take cover for unprecedented global meltdown in case of equity funds. SEBI has to look into the accountability aspect of the fund managers and the degree they flaunt, while evaluating the B-schools, especially vis-À-vis campus recruitments.

Arlindo de Miranda Margao Goa

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