Top MF CEOs, AMFI, SEBI and FIFA are set to meet the finance ministry today in Delhi in continuation of the dialogue to revive the mutual fund industry.
In the last meeting held on July 02, AMFI, top 10 AMC CEOs and FIFA had suggested various measures to bring the industry on fast track. “It’s a follow-up meeting. It seems there’s urgency within the government to take immediate steps for the industry. We could expect some measures after this meeting,” says Dhruv Mehta, Chairman, FIFA.
In the last meeting chaired by Economic Affairs Secretary R Gopalan, MF stakeholders had suggested passing of service tax to investors, allowing Rajiv Gandhi Equity Savings Scheme (RGESS) to be routed through mutual funds, allowing continuation of tax benefits in ELSS, increase in total expense ratio, among other measures to the ministry. Dr Thomas Mathew, Joint Secretary (CM), Department of Economic Affairs is likely to be present at tomorrow’s meeting.
The meetings in quick succession of MF stakeholders with the finance ministry and the repeated announcements by the government have raised hopes of announcements of immediate measures.
