To ensure that their distributors and investors are serviced properly, AMCs made special arrangement for critical teams to be present in the office while many were allowed to work from home.
Even though attendance was affected in AMC offices, the AMCs have ensured that there is no disruption to their operations. Most AMCs made travel/stay arrangement for teams involved in critical functions like NAV team, Fund Management and operations to be present in office on the day of country-wide bandh. With the stock market functioning, the fund management and NAV had to be present at the office. Of the rest, many employees worked from home and supported the team present in the office.
UTI Mutual Fund had made arrangements for its fund management team to stay in a nearby hotel and arranged a pick up and drop for NAV and operations team. Most of the AMCs had arranged a vehicle for picking up important staff required to run the office.
RTAs also functioned properly and were able
to coordinate smoothly with AMC teams. “Most of the employees have turned up
and the office is functioning smoothly,” said Prabal Nag, Vice
President and Head Business Development, CAMS.
Know more: Despite bandh, it was business as usual for many IFAs
