To enforce market regulator Sebi’s directive, industry body Amfi has asked all mutual fund houses to disclose the commission paid to individual distributors in the last fiscal.
Also, Association of Mutual Funds in India (Amfi) has listed 497 distributors that qualify for disclosure of commission criteria laid by Sebi.
The distributor, who receives an aggregate commission of more than Rs 1 crore from all AMCs or gets a fee of Rs 50 lakh from single fund house or operates from more than 20 locations, is required to make such disclosure.
In a letter written to fund houses earlier this month, Amfi has asked AMCs to disclose total expenses and commission paid to distributors during the past fiscal, whether the distributor is an associate or group company of the sponsors of the mutual fund, net as well as gross inflows and average assets under management in a prescribed format.
