SEBI brings new guidelines to revive the mutual fund industry

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MUTUAL FUND: INDUSTRY UPDATE

SEBI brings new guidelines to revive the mutual fund industry

The Securities and Exchange Board of India (SEBI) in its board meeting held on July 28, 2011 discussed the following plans:

  • A levy of Rs100 per transaction imposed on mutual fund (MF) investments for the existing investors; the new or first-time investors would have to pay extra Rs50 (total Rs150) on an investment above Rs10,000.
  • For systematic investment plans (SIPs), the transaction charges can be recovered in three or four months. However, whether the new SIP transactions of less than Rs10,000 would also attract the one-time fee of Rs150 is not clear yet.
  • Now, AMCs to do the due diligence and regulate distributors such as who have Multiple point presence in more than 20 locations, AUM raised over Rs100 crore across industry in non-institutional category but HNIs etc.
  • The existing mutual funds have been allowed to set up infrastructure debt funds (IDFs). Also, an existing companies in infrastructure financing for a period not less than five years can also set up a mutual fund exclusively for the purpose of launching an IDF scheme.

 


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