03-31-2008, 05:23 PM
Dear,
The issue of mutual funds is very critical. AMCs manage and control all the affAirs of funds under the provisions of Non-Banking Finance Companies and Notified Entities Regulations, 2007.
However, despite the fact of Funds' management and control resting with AMCs, the ground reality that the unitholders of the funds are ultimate owner of its stake is also to be kept in mind. In terms of units or stake, the AMC is not the owner of the funds. However, it's dealing with management affairs and controls the decision making process of funds. This makes the situation critical and complex.
Let's see what comes out of the consideration by ICAP's technical committee.
Regards,
KAMRAN.
The issue of mutual funds is very critical. AMCs manage and control all the affAirs of funds under the provisions of Non-Banking Finance Companies and Notified Entities Regulations, 2007.
However, despite the fact of Funds' management and control resting with AMCs, the ground reality that the unitholders of the funds are ultimate owner of its stake is also to be kept in mind. In terms of units or stake, the AMC is not the owner of the funds. However, it's dealing with management affairs and controls the decision making process of funds. This makes the situation critical and complex.
Let's see what comes out of the consideration by ICAP's technical committee.
Regards,
KAMRAN.
