Regulator will seek suggestions to overcome the constraints
relating to distribution and reach of mutual funds.
Distributor associations like Chennai-based IFA Galaxy and
Mumbai-based Foundation of Independent Financial Advisors (FIFA) are set
to meet SEBI on 3rd May to discuss issues relating to reach and distribution of
mutual funds. The meeting will be chaired by Prashant Saran, Whole-Time Member
of SEBI.
The regulator will discuss the following issues in the
proposed meeting:
Issues relating to distribution of mutual funds
Perceived constraints to enhance the reach of mutual funds
beyond the top cities
Suggestions to overcome these constraints.
Among other issues, a subject that is bound to come up for
discussion is SEBI’s recent concept paper which tries to segregate the
distributor community into ‘advisors’ and ‘agents’. IFAs want to avoid this
segregation, because both models are followed by the trade.
HN Sinor, CEO of AMFI, admitted in a recent interview with
the Economic Times that abolishing entry load at one go was not such a good
idea. “We need to dispassionately review the (entry load ban) decision once
again,” he said.
The introduction of transaction charge by SEBI has not done
much for the industry so far.
Source: http://www.cafemutual.com/News/InnerNews.aspx?srno=1292&MainType=New&NewsType=Industry&id=21
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