Sebi chairman Ajay Tyagi is a worried man. Of late, Tyagi has taken to public worrying about the poor, vulnerable, small investor. He worries a tad too much. He worries about concentration in the mutual fund (MF) industry.
He should worry, more usefully, on why the Tier II account of the National Pension System, which offers the general public low-cost access to fund management expertise, is not open to one and all, instead of being open only to those who hold a Tier I pension account. ..
