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  • MF News SEBI chief promises support to the industry

    SEBI chief promises support to the industry

    Regulator begins consultations with distributors, AMCs and investor assocations.
    Team Cafemutual Nov 30, -0001

    Regulator begins consultations with distributors, AMCs and investor assocations. 

    UK Sinha struck a positive note with the industry at the beginning of his speech by complementing the industry on its progress. In this context he noted that 76% of the equity AUM of the industry has outperformed benchmarks over the last three years.  

    The SEBI chairman also said that it will continue to request the government to bring the Rajiv Gandhi Equity Savings Scheme (RGESS) under the ambit of mutual funds. 

    He said that SEBI has begun a consultation process with stakeholders like distributors, AMCs and investor associations. He also said that SEBI is ready for a review of certain regulations.  

     He added that while SEBI has introduced rules allowing AMCs to launch infrastructure debt funds for QFIs but SEBI is yet to see any initiative being taken by AMCs.  

    On investor awareness programmes, UK Sinha said that AMCs are conducting these campaigns at a very basic level. He urged AMCs to review on a continuous basis as to whether people who attend these programmes are investing in mutual funds. If they are not, then he asked AMCs to find out the reasons for the same. Earlier, H N Sinor, CEO, AMFI mentioned that the industry is conducting 1,000 investor education events every month. 

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