9911796707
TMI BlogEnhancing disclosures, investor education & awareness campaign, developing alternative distribution channels for Mutual Fund products, etcX X X X Extracts X X X X X X X X Extracts X X X X ..... lusion, tax treatment , obligation of various stakeholders, increasing transparency, etc. In this regard the following has been decided: A. Disclosure of Assets Under Management (AUM) 1. In order to enhance transparency and increase the quality of the disclosures for the investors, Mutual Funds shall disclose the following on monthly basis on their website and also share the same with Association of Mutual Funds in India (AMFI): a. AUM from different categories of schemes such as equity schemes, debt schemes, etc. b. Contribution to AUM from B-15 cities (i.e. other than top 15 cities as identified by AMFI) and T-15 cities (Top 15 cities). c. Contribution to AUM from sponsor and its associates. d. Contribution to AUM from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of votes cast in favor, against or abstained from. c. AMCs shall be required to make disclosure of votes cast on their website (in spreadsheet format) on a quarterly basis, within 10 working days from the end of the quarter. Further, AMCs shall continue disclosing voting details in their annual report. The revised format for disclosure of vote cast by Mutual Funds in respect of resolutions passed in general meetings of the investee companies and the format for presenting summary of votes cast by Mutual Funds is placed as annexure B. d. Further, on an annual basis, AMCs shall be required to obtain Auditor's certification on the voting reports being disclosed by them. Such auditor's certification shall be submitted to trustee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... structure by AMCs. However, in order to achieve participation from all parts of the country in Mutual Funds there is greater need for developing additional distribution channels. Therefore, it has been decided that: a. Distribution through PSU banks : PSU banks which have wide bank branches network and have distribution reach in the nook and corner of the country, could play a key role in Mutual Funds distribution. In order to leverage the PSU banks infrastructure, Mutual Funds/ AMCs need to develop a system for active support to PSU banks to distribute Mutual Fund products through them. Such active support would also encourage PSU banks to distribute products of all Mutual Funds. b. Online distribution: Online distribution not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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