The mutual fund industry has approached the Securities and Exchange Board of India (SEBI) seeking approval for launching retirement funds investing only in long-term government securities, industry sources said.
"We have already showcased this product to the regulator and we are discussing," said a top mutual fund official.
These schemes are aimed at giving retail investors a visibility of potential returns in the long term.
"We do not need complex products. The simplest product we can do is open a fund that will invest in 25-30-year G-sec (government securities in that fund."
