Sebi is likely to make it compulsory for the mutual fund players to disclose their assets under management (AUM) and details of new schemes to assure that the retail investors take a sure decision before the investments being made.
Sebi chairman U K Sinha said at a CII meet that, “SEBI is working towards making MF industry disclose their AUM for a retail investor to understand. If you are making a particular scheme, it is important for a retail investor to know what has been the track record of the fund manager. We see no problem in disclosing that”.He also added saying that penetration of industry is low in India, Sinha added, “We find that there are several irritants. So our attempt is to remove some irritants.
The average assets managed by the MF industry, consisting of 40 players, stood at Rs 7,00,538 crore as of March 31, 2011.
