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Saturday, February 2, 2013

SEBI to introduce product labelling for MFs soon

Capital market regulator SEBI will soon introduce product labelling for mutual funds to make investors aware of any risks associated with them.

“Product labelling is an important investor education agenda for SEBI. The scheme profile will be given shortly and finally it will be with colour codes,” S. V. Muralidhar Rao, Executive Director of SEBI (Securities and Exchange Board of India), said today.

Rao said another important agenda for SEBI was to spell out a long-term policy on mutual funds.

SEBI will shortly bring out a long-term policy on mutual funds. That will be basically a taxation issue. The board of SEBI had approved the idea of a long-term policy last year.

“We are going to deliberate on it at the mutual fund advisory committee,” Rao told presspersons on the sidelines of an ICC seminar here.

On infra-financing MF products, Rao said SEBI would bring about an amendment since no such schemes were found to be floating last year.

He said the total assets under management of the MF industry till December 2012 grew by 12.7 per cent.

SEBI is also working with the Association of Mutual Funds of India to make the Rajiv Gandhi Equity Savings Schemes popular among the investing community.

Source: thehindubusinessline


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