Fund houses have an option to facilitate switch to other schemes by unitholders, merge their multi cap scheme with their large cap scheme or convert their multi cap scheme to another scheme category, for instance large and mid-cap scheme category.
SEBI has asked fund houses to either make their existing multi cap fund a large cap fund or merge it with other schemes like large and mid-cap funds if they do not wish to offer multi cap funds with the new exposure norms.
Three individual MFDs- Srikanth Matrubai, Santosh Kumar Mahapatra and Viren Dobariya, VKDwealth share how they are rebuilding their clients’ confidence in mutual funds.
SEBI has asked fund houses to invest at least 75% of the total corpus across market capitalization with 25% exposure to each - large, mid and small cap stocks.
In the first episode of Cafemutual’s Mindful Musings series, Vishal Kapoor, CEO, IDFC MF said that a simple and fair solution is to arrive at a sharing ratio on commissions across schemes.
AMFI gives six months to nominee or legal heir of a deceased mutual fund distributor to obtain ARN to continue to get trail commission. If a nominee decides not to obtain ARN, AMCs will transfer the assets of deceased ARN holders to other distributors or direct plans.
Overall, the MF industry witnessed outflows of over Rs.14, 550 crore. However, the total AAUM for August rose to Rs.27.78 lakh crore from Rs.27.28 lakh crore in July due to mark-to-market increase in MF assets.
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