If you are counting the age of the industry from 2003 when UTI acquired full equal status with rest of its counterparts, it is hardly a 5 year old one, fully alive and kicking!!
After Edelweiss Mutual Fund , the domestic real estate player DLF has formed JV with Prudential Financial Inc, USA to launch DLF Pramerica Asset Managers Private Ltd.
Bharti AXA Mutual Fund, entered the fray at the dawn of 2008 following Mirae Asset Mutual Fund
The Axis Bank which came out of UTI fold, already got permission to launch its own AMC recently.
The regulator is also keeping pace with rules:
disclosures are tightened making it mandatory to disclose half yearly how much money is in term deposits as collateral for taking derivative positions by the scheme along with portfolio particulars.
MFs are permitted to do short selling as also Borrowing & Lending in the Govt Securities market.
Those interested to know more about MFs can do so freely by accessing the new initiative of Fidelity, for qualifying as MF advisors and pass the AMFI test.
India is a happening place indeed..
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