TaxTMI 
TaxTMI 
Enhancing disclosures, investor education & awareness campaign, developing alternative distribution channels for Mutual Fund products, etc
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....oting financial inclusion, tax treatment , obligation of various stakeholders, increasing transparency, etc. In this regard the following has been decided: A. Disclosure of Assets Under Management (AUM) 1. In order to enhance transparency and increase the quality of the disclosures for the investors, Mutual Funds shall disclose the following on monthly basis on their website and also share the same with Association of Mutual Funds in India (AMFI): a. AUM from different categories of schemes such as equity schemes, debt schemes, etc. b. Contribution to AUM from B-15 cities (i.e. other than top 15 cities as identified by AMFI) and T-15 cities (Top 15 cities). c. Contribution to AUM from sponsor and its associa....
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.... all its investee company and its break-up in terms of total number of votes cast in favor, against or abstained from. c. AMCs shall be required to make disclosure of votes cast on their website (in spreadsheet format) on a quarterly basis, within 10 working days from the end of the quarter. Further, AMCs shall continue disclosing voting details in their annual report. The revised format for disclosure of vote cast by Mutual Funds in respect of resolutions passed in general meetings of the investee companies and the format for presenting summary of votes cast by Mutual Funds is placed as annexure B. d. Further, on an annual basis, AMCs shall be required to obtain Auditor's certification on the voting reports being disc....
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....ing funds from B-15 cities. This development would lead to setting up of distribution infrastructure by AMCs. However, in order to achieve participation from all parts of the country in Mutual Funds there is greater need for developing additional distribution channels. Therefore, it has been decided that: a. Distribution through PSU banks: PSU banks which have wide bank branches network and have distribution reach in the nook and corner of the country, could play a key role in Mutual Funds distribution. In order to leverage the PSU banks infrastructure, Mutual Funds/ AMCs need to develop a system for active support to PSU banks to distribute Mutual Fund products through them. Such active support would also encourage PSU ba....
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.... effect from April 1, 2014. IV. This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with the provision of Regulation 77 of SEBI (Mutual Funds) Regulation, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, RAJESH GUJJAR Deputy General Manager Tel no.: 022-26449232 Email: [email protected] For Annexures - Refer the attachments ============= Document 1 Sheet: Anex A1 Frmt for AUM disclosure Sl. No. Scheme Category/ Scheme Name XYZ Mutual Fund: Net Assets Under Management (AUM) as on …. (All figures in Rs. Crore)....
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....: Top 15 cities as identified by AMFI Category of Investor B15 : Other than T15 1 : Retail Investor 2 : Corporates I : Contribution of sponsor and its associates in AUM 3 : Banks/FIs II : Contribution of other than sponsor and its associates in AUM 4 : FIIs/FPIs 5 : High Networth Individuals Sheet: Anex A2 Frmt AUM stateUT wise Table showing State wise /Union Territory wise contribution to AUM of category of schemes as on __ XYZ Mutual Fund (All figures in Rs. Crore) Sl. No. Name of the States/ Union Territories LIQUID SCHEMES OTHER DEBT ORIENTED SCHEMES GROWTH / EQUITY ORIENTED SCHEMES BALANCED SCHEMES FUND OF FUNDS INVESTING OVERSEAS GOLD EXCHA....