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Sebi's new expense charge regime to increase MF penetration

Wednesday, February 07, 2018

Markets regulator Sebi's decision to allow mutual fund houses to charge additional expenses from customers from beyond top 30 cities, as against 15 earlier will help in increasing penetration of such products, experts said.

"Sebi is now worried to develop the interiors of B-30 cities. So it augurs well for financial inclusion and availability of mutual fund investment products to the retail people," Quantum Mutual Fund MD and CEO Jimmy Patel said.

Echoing the view, Ashish Chauhan MD and CEO BSE, which runs mutual fund distribution platform -- BSE StAR MF, said that the move will help penetrations beyond 30 cities. "The present effective B15 concept had indeed helped penetrations beyond 15 cities and it presently accounts for nearly 20% of the industry's assets under management," he said.

Sebi, on Friday, permitted an additional 30 basis points of extra expenses to be charged to a mutual fund to incentivise distribution of such products in all cities except the top 30 as against cities beyond top 15 so far.

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