Government

January 16, 2017

Celebrities To Endorse Mutual Fund: SEBI


SEBI

The Securities And Exchange Board Of India have decided that the celebrities can endorse mutual fund products at the industry level is expected to increase the awareness and attract more individuals from smaller towns to invest in equity and debt instruments.

According to industry participants, the latest move by Sebi is a big positive for the industry, which has already started seeing a greater degree of interest from investors beyond top-15 cities over the past two years.

CEO of Sundaram AMC, Sunil Subramaniam said that “Sebi’s move has brought a level playing field between the mutual fund industry and the insurance industry. This is definitely going to help improve the penetration of mutual fund products in India,”

In 2016, the mutual fund industry saw an addition of 70 lakh new investor accounts taking the total tally to around 5.3 crore with the total assets under management (AUM) close to about Rs 17 lakh crore. The regulator has allowed mutual funds to spend about 2 per cent of their total AUM on investor awareness programmes out of which half the amount should be contributed to AMFI for carrying out similar activities.

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