Market regulator Securities and Exchange Board of India (Sebi) today announced that mutual fund distributors (MFs) will get Rs 150 per new investor they fetch into funds but the investments should be worth Rs 10,000 or more. Moreover, they will also get Rs 100 for every new subscription of Rs 10,000 or more from existing investors.
Speaking about this move to CNBC-TV18, Vivek Kudva, managing director (India & Ceemea) of Franklin Templeton Investment said that it’s a step in the right direction.
"However, these (transaction) fees may not recover all costs as the decline in MF industry cannot be attributed only to regulatory changes." he added.
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