SEBI has asked AMCs to disclose the actual commission paid to distributors in the half-yearly consolidated account statements (CAS) issued to investors. This commission figure will include all direct monetary payments and other payments made in the form of gifts/rewards, trips, event sponsorships etc. by AMCs to distributors, said a SEBI circular issued today.
“The amount of actual commission paid by AMCs to distributors (in absolute terms) during the half-year period against the concerned investor’s total investments in each MF scheme,” states the SEBI circular.
In addition to commissions, AMCs will also have to publish the scheme TER in percentage terms for the half-year period for both direct and regular plans.
“Such half-yearly CAS shall be issued to all MF investors, excluding those investors who do not have any holdings in MF schemes and where no commission against their investment has been paid to distributors, during the concerned half-year period,” stated the SEBI circular.
Further, the CAS will also mention the total purchase value of investment in each scheme.
The circular is effective October 1.
