Performance linked incentives, underneath evaluation, will garner additional investments because the mutual fund industry is already making certain productive utilisation of financial savings, mentioned Ananta Barua, complete time member, Securities and Exchange Board of India (SEBI) on the seventeenth Edition of CII Mutual Fund Summit in Mumbai.
“Mutual fund products ensure transparency, uniform treatment of unit holders and uniform applicability of Net Asset Value,” he added.
Manoj Kumar, Executive Director, SEBI whereas talking on the summit mentioned that as a regulator SEBI would always fine-tune and turn out to be more collaborative in nature.
“SEBI is working on building a new improved and inclusive framework of B30 incentives which will be far more superior,” he mentioned.
“Technology adoption and becoming data-driven are the key focus areas being explored with each department of SEBI having a technology vertical,” he added.
“Indian financial industry is better placed in terms of best practices with SEBI working on building a more inclusive model,” he additional mentioned.
Sundeep Sikka, Chairman, CII WR Taskforce on Banking & Finance; CII Mutual Fund Summit & ED & CEO, Nippon Life India Asset Management mentioned a bigger push from the state in the direction of monetary inclusion and retail participation within the markets would drive demand for mutual fund merchandise.
“These two factors together will drive Assets Under Management (AUM) growth across asset classes over the next few years,” he mentioned.
On the event the CII-CAMS Report was launched. The report highlights that millennial traders are the driving drive of the MF industry in India with over 85 lakh new millennials becoming a member of the industry between FY19-FY23.
