“Sebi has been suggesting this for years now, but the industry did not pay heed. Now we have to face the consequence,” said the chief executive officer (CEO) of a mutual fund house.
On the cards
- The mutual fund advisory panel, appointed by the Sebi, is due to meet on Friday
- Many expect that fund houses may not be allowed to continue with multiple schemes in the same category
- There are 2,041 schemes offered by 40 mutual funds, averaging 50 per fund house
- Sebi feels these are too many for investors to understand, differentiate and choose from