To avoid the potential conflict of interest, markets regulator Sebi is considering to put a 10 per cent cross-shareholding cap in mutual funds, senior officials said.
The new measure may have an impact on the shareholding pattern of UTI Asset Management Company (AMC).
State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB) and Life Insurance Corporation (LIC) are having their own mutual funds and at the same time they hold 18.24 per cent stake each in UTI AMC.
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