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SEBI scraps transaction charges for mutual fund distributors
YourStory
·
1d ago
Medial
SEBI has abolished transaction charges for mutual fund distributors, effective immediately. This decision, following public and industry consultations earlier in 2023, ends the practice of asset management companies (AMCs) paying such charges for investments exceeding a specific threshold. Previously, distributors were eligible for charges if they secured a minimum subscription of Rs 10,000. This change aims to simplify distributor compensation and enhance transparency in the mutual fund sector.
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Invesco's India arm settles mutual fund violation charges with SEBI
VCCircle
·
1y ago
Medial
Invesco Asset Management India has settled charges of mutual fund rules violations with the Securities and Exchange Board of India (SEBI), the country's market regulator. The settlement, which amounted to 49.8 million rupees ($598,000), involved the asset manager and five others, including the firm's CEO. The charges stemmed from an investigation conducted by SEBI, which found a lack of clear segregation between portfolio management services and mutual funds, as well as transactions that violated regulatory rules.
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Mutual help: AssetPlus and ZFunds receive venture capital support
Economic Times
·
8m ago
Medial
AssetPlus and ZFunds, two Indian startups, are providing technology stacks to traditional offline financial distributors to help them stay relevant in a market where new-generation direct mutual fund distributors like Groww are gaining traction. AssetPlus recently secured Rs 50 crore in institutional funding led by Eight Roads Ventures, while ZFunds is reportedly in talks with Elevation Capital for an equity funding round. The startups aim to support distributors in offering investment advice and products to their clients, tapping into the offline distribution opportunity in India's mutual fund market.
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Empowering Bharat Through SIPs: What to Expect at the Moneycontrol Mutual Fund Summit 2024
Money Control
·
11m ago
Medial
The Moneycontrol Mutual Funds Summit 2024, themed "Empowering Bharat through SIPs," is set to take place on August 21, 2024. The summit will explore the impact of systematic investment plans (SIPs) and mutual funds on financial inclusivity, as well as recognize the efforts of mutual fund distributors. Industry experts will discuss aligning mutual fund offerings with investor expectations, expanding the distribution network, managing investment flows, and the broader economic and political impacts on the mutual fund sector. The event will also feature an awards ceremony and be available to watch live.
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IndusInd, Invesco sign mutual fund JV
Livemint
·
1y ago
Medial
IndusInd International Holdings Ltd (IIHL), a Mauritius-based investment firm led by the Hinduja brothers, has acquired a 60% stake in Invesco Asset Management India Ltd, a subsidiary of Invesco Ltd. The deal aims to capitalize on the increasing trend of equity investments in India, particularly through mutual funds. Invesco will retain a 40% stake in the asset management joint venture. The transaction is subject to regulatory approval from Sebi. The collaboration will allow Invesco Mutual Fund to benefit from IIHL's distribution network and customer base. The Indian mutual fund industry is expected to see significant growth due to favorable demographics and increasing retail investor interest.
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Moneycontrol MF Summit | Regulations, reflections and rapid chess: Industry’s bigwigs brainstorm for shaping Bharat’s investment landscape
Money Control
·
11m ago
Medial
The third edition of the Moneycontrol Mutual Fund Summit 2024 saw industry leaders discuss the need for the mutual fund industry to focus on financial literacy and inclusion as well as the target of achieving monthly systematic investment plan (SIP) inflows of Rs 50,000 crore. The summit also covered topics such as the role of mutual funds in promoting better corporate governance standards, the rise of thematic and sector funds, managing return expectations, the role of advisors in reaching the SIP goal, and insights into personal finance from chess legend Viswanathan Anand. The event concluded with an awards ceremony to honor mutual fund distributors.
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Plans to make mutual fund rules more investor and industry friendly: SEBI official
YourStory
·
1m ago
Medial
The Securities and Exchange Board of India (SEBI) is reviewing mutual fund regulations to make them more investor-friendly and industry-aligned. SEBI aims to simplify lengthy rules to accommodate evolving investor needs and industry innovations. The review includes scheme categorisation norms and new product offerings, while considering industry feedback. SEBI also plans to enhance financial literacy and mutual fund penetration, particularly in underserved regions, with a focus on stakeholder collaboration for sustainable financial growth and empowerment.
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Sebi steps in to curb front-running by mutual funds
Livemint
·
1y ago
Medial
The Securities and Exchange Board of India (SEBI) has approved amendments to mutual fund regulations to address front-running and fraudulent transactions. SEBI will establish an institutional mechanism that includes enhanced surveillance systems, internal control procedures, and escalation processes to curb misconduct such as front-running, insider trading, and misuse of sensitive information. SEBI has also streamlined prudential rules for passive mutual fund schemes to allow for increased exposure to group companies and approved greater flexibility for non-resident Indians and overseas citizens in certain foreign portfolio investors.
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Large distributors set to poach clients following change in mutual fund commission guidelines
Money Control
·
1y ago
Medial
According to sources, large mutual fund distributors in India are attempting to attract clients from smaller rivals after the Association of Mutual Funds of India (AMFI) allowed commission to be paid to new distributors when customers switch. AMFI has permitted the payment of "trail commission" to the new distributor in case of a portfolio transfer. Previously, the new distributor did not receive a commission when a customer switched. The AMFI has now introduced a cooling period of six months before the new distributor is entitled to receive the commission.
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ONDC Bolsters Fintech Play, Sees First Mutual Fund Transaction On The Network
Inc42
·
10m ago
Medial
- First transaction of INR 100 made in partnership with AMC Nippon India Mutual Fund and Appreciate - Investment platforms ATX Labs and AssetPlus to join as buyer apps - ONDC aims to make mutual fund investments more accessible through its network
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DSP Asset Managers partners with Cybrilla to bring Mutual Funds to more Indians via ONDC
IndianStartupNews
·
27d ago
Medial
DSP Asset Managers has partnered with Cybrilla to become the first mutual fund company to go live on the Open Network for Digital Commerce (ONDC). This initiative aims to expand mutual fund access to underserved individuals, particularly in areas with limited banking services, by offering low-cost, simple investment options. The collaboration facilitates decentralized distribution, enabling local distributors and fintech startups to reach a wider audience, promoting disciplined, long-term investment strategies, and exploring innovations like Central Bank Digital Currency (CBDC).
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