Media reported that the Securities and Exchange Board of India’ (SEBI) director warned that the ongoing tension between the U.S. and China will bear an impact on emerging markets, and India will be no exception to this. The trade feud between the world two largest economies does not bode well for the economy, and in turn, would adversely impact the mutual fund industry. Considering these factors, the Association of Mutual Funds in India’s (AMFI) chief believes that the industry will be flat this year.