Asset Management Company News

If the portfolio of schemes is not rebalanced within extended timelines, the AMCs would not be permitted to launch any new scheme. AMCs are required to report the deviation to trustees concerned at each stage.

After the resounding success of CPSE ETF and Bharat-22 ETF, the government is looking at diversifying the ETF basket by including stocks of public sector banks (PSBs), public sector insurance companies (PSCIs) and public sector financial institutions (PSFIs).

The new measure may have an impact on the shareholding pattern of UTI Asset Management Company (AMC), requiring its promoters to lower their stake to 10 percent or below in next one year.

Mutual fund houses on Thursday said markets regulator Sebi's directive of taking the service of 'scrutinisers', to review the rationale behind the voting decisions made by them, will bring in greater transparency in the sector.

After capping agent commission, mutual fund industry body and front-line regulator AMFI may now ask the fund houses to disclose the individual distributor commission in the account statements sent to investors.

Top three positions continue to be captured by the same three fund houses namely HDFC, ICICI Prudential Asset Management Company and Franklin Templeton during the past three years, according to the third Annual Wealth Forum Advisor Confidence Survey report.