SEBI issues strict disclosure norms for MF houses

India Infoline News Service | Mumbai |

The regulator has suggested selling of mutual funds through public sector banks and online to increase their penetration.

In order to enhance transparency and increase the quality of the disclosures for investors, mutual fund houses should disclose the Assets Under Management (AUM) on monthly basis on their website and also share the same with Association of Mutual Funds in India (AMFI).
This would include monthly disclosure of AUM from different categories of schemes, AUM from places beyond top-15 cities, contribution of sponsor and its associates in AUM, contribution from different types of investors (retail, corporate, etc), state-wise contribution and AUM from sponsor group or non-sponsor group distributors.
AMCs shall disclose the AUM on their website (in spreadsheet format) and forward to AMFI within 7 working days from the end of the month. AMFI in turn shall disclose the consolidated data in this regard on its website (in spreadsheet format), SEBI said in a circular on Monday.
The regulator has suggested selling of mutual funds through public sector banks and online to increase their penetration.




 

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