In a move to increase the Mutual Funds investment in the country, the Securities and Exchange Board of India (SEBI) will soon come out with a long-term policy for mutual funds to help the industry create more understanding and better positioning of products amongst investors.
SEBI chairman UK Sinha asserted that mutual fund industry has lost its focus over the past few years and there is a need to redraw attention through establishing the role and purpose of mutual funds. SEBI chairman expressed hope that in the next board meeting, SEBI will have clearance on this long-term policy as the extensive consultation going on it.
By adding further, Sinha stated that the market regulator is also looking at ways to encourage industry to come out with real estate funds that came into industry’s regulations five years back but none of the player has launched any scheme. SEBI is trying to find out what change or encouragement is required so that this particular product is launched, he added. Further, in order to boost the mutual funds industry, SEBI and the government are also making changes in some policies of mutual funds so that industry could get access to a substantial amount of money from the state-administered provident fund and other retirement programmes.
SEBI chairman UK Sinha asserted that mutual fund industry has lost its focus over the past few years and there is a need to redraw attention through establishing the role and purpose of mutual funds. SEBI chairman expressed hope that in the next board meeting, SEBI will have clearance on this long-term policy as the extensive consultation going on it.
By adding further, Sinha stated that the market regulator is also looking at ways to encourage industry to come out with real estate funds that came into industry’s regulations five years back but none of the player has launched any scheme. SEBI is trying to find out what change or encouragement is required so that this particular product is launched, he added. Further, in order to boost the mutual funds industry, SEBI and the government are also making changes in some policies of mutual funds so that industry could get access to a substantial amount of money from the state-administered provident fund and other retirement programmes.
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