SEBI may ask AMCs to give certain portion of the investor awareness corpus to it.
SEBI is said to have asked for a share of the investor awareness program (IAP) corpus available with fund houses. A senior SEBI official has reportedly suggested in a discussion with AMFI that a part of the 2 basis investor awareness budget be set aside for SEBI so that SEBI could carry out its own investor education campaign
“The government was funding SEBI so far. Now they are looking at AMCs for this funding. Currently, AMCs are giving out diverse messages in their IAPs. Some are saying fixed income is good for long term while others are saying equities are best. The message has to be uniform. SEBI had also expressed its displeasure over AMCs promoting their products by using IAP corpus,” said the CEO of a private sector fund house.
Sources say that SEBI wants 15% of the IAP corpus while 20% will go to AMFI. Based on the current AUM, AMCs have Rs. 180 crore to invest in IAPs.
Even before SEBI mandated AMCs to spend two basis points on investor awareness, AMFI was conducting its own investor programs through AMCs. It had run a media campaign ‘Savings Ka Naya Tareeka’.
