Narendra Modi's Washington test

Narendra Modi's Washington test

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Small banks or banks for ‘small’ people?

Small banks or banks for ‘small’ people?

Unless appropriate sub-limits are imposed on loans, there is a serious...

‘Some changes in RGESS can be very useful’

Feb 25 2013, 08:45 IST
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To catch investors’ fancy, the mutual fund industry is hoping for tax breaks outside the 80C limit in the Budget 2013-14. (Reuters) To catch investors’ fancy, the mutual fund industry is hoping for tax breaks outside the 80C limit in the Budget 2013-14. (Reuters)
SummaryTo catch investors’ fancy, the mutual fund industry is hoping for tax breaks outside the 80C limit in the Budget 2013-14. V Ramesh

September 2012 circular, asset management companies are actively putting their strategies together to penetrate into smaller cities. Converting investors from smaller cities typically requires lots of efforts and convincing. The fact remains that mutual fund products are still a push products. Our members are conducting Investor Awareness Programmes to the extent of about Rs 1,000 a month. Of this more than 80 per cent of the programmes are conducted in cities which are beyond the top 15 cities. It is a clear indication of the efforts. Moreover, we are planning to conduct some camps in various smaller cities in India, which will be a very useful awareness programme.

We are confident that over a period of time we will see increased inflows from smaller cities.

The Securities and Exchange Board of India is planning to introduce product labelling for Mutual Funds. Any comments?

We will not be able to make any comments till this is made into a regulation as it is still under the consideration of Sebi. However, such an initiative will be very investor friendly.

AMFI has suggested putting colour codes for MFs to assign their risk grade. How will this help investors?

It would help investors reasonably assess the risk of a product in a simple manner.

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