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Journalism of Courage
MUMBAI, SEPT 4: Securitisation of debentures was the latest of the proposals, made by mutual fund MF industry, being considered by Securities and Exchange Board of India Sebi.
This scheme, with assured returns to the investors, could be a valid option in the context of allowing provident and insurance funds into capital market, Sebi chairman DR Mehta said after distributing the annual Investment Research and Information Services IRIS mutual funds awards here on Friday. Housing MF scheme proposal, the introduction of which was deferred, would also be reconsidered after sometime.
The MFs are estimated to raise about Rs 45,000 crore during the current year given that they have raised Rs 14,112 crore during the first four months of the year, he said adding the net inflow into the industry during the four months was Rs 4,376 crore, from which net inflow during the year is estimated to be about Rs 15,000 crore.
The factors fuelling the growth of MF industry in India was professionalism, culture ofcompliance and growing competition, he said. Birla mutual fund has bagged most of the RS Bhatt memorial awards instituted by IRIS.
