The market regulator will review the progress on mutual fund long term policy.
SEBI has invited AMFI to review its long term policy for the growth of the mutual fund industry, said C. VR. Rajendran, CEO, AMFI. This meeting is scheduled to be held on March 4, 2016.
In 2014, SEBI had approved a long term policy for the mutual fund industry. Among the key initiatives were increasing the net worth of AMCs to Rs.50 crore, nudging fund houses to have skin in the game through the concept of seed capital and disclosure of voting pattern of fund houses in investee companies, among others.
Apart from reviewing the long term policy, the market regulator is likely to take a call on commission disclosure of distributors in account statement. A senior official who attended today’s AMFI board confirmed that the final decision on commission disclosure will be taken in this meeting.
