Last week, Mirae Asset Mutual Fund surprised the mutual fund industry by cutting the commission paid to distributors in three of its flagship schemes. The move, as expected, met with mixed reactions from the intermediaries. Swarup Mohanty, CEO, Mirae Asset, says the step is aimed to discourage heavy inflows in the mid cap, focused and tax-saving funds. Read the full interview.
Mirae has decided to cut distribution fees in your mid cap, focused equity and ELSS funds. What is the thought behind this unprecedented decision?
First of all, we have nine schemes in our equity basket. We have taken this decision on three schemes.
