Under-review performance-linked incentives will garner further investments as the mutual fund industry already ensures productive utilization of savings. Mutual fund products ensure transparency, uniform treatment of unit holders and uniform applicability of net asset value, said Ananta Barua, Whole Time Member, Securities and Exchange Board of India (SEBI) at the 17th Edition of CII Mutual Fund Summit in Mumbai.
Manoj Kumar, Executive Director, SEBI mentioned that as a regulator SEBI needs to constantly fine-tune and become more collaborative in nature. Technology adoption and becoming data-driven are the key focus areas being explored with each department of SEBI having a technology vertical. SEBI is working on building a new improved and inclusive framework of B30 (beyond the top 30 cities) incentives, which will be far superior. The Indian financial industry is better placed in terms of best practices with SEBI working on building a more inclusive model, he added.
A larger push from the state towards financial inclusion and retail participation in the markets is expected to drive demand for Mutual Fund products. These two factors together will drive AUM growth across asset classes over the next few years, said Sundeep Sikka, Chairman, CII Mutual Fund Summit & CEO, Nippon Life India Asset Management.