TaxTMI 
TaxTMI 
Alignment of interest of Key Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes
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....rd of Trustees of Mutual Funds/ Association of Mutual Funds in India (AMFI) Sir/Madam, Subject: Alignment of interest of Key Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes 1. While SEBI has taken steps to standardize the scheme categories and characteristics of each category, the management of risk return profile of the schemes rests with....
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....xchange Traded Funds (ETFs), Index Funds, Overnight Funds and existing close ended schemes shall be excluded. b. paid proportionately over 12 months on the date of payment of such salary/ perks/ bonus/ non-cash compensation. In case of compensation paid in the form of employee stock options, the date of exercising such option shall be considered as the date of such payment. c. lo....
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....edical emergencies or on humanitarian grounds, as per the policy laid down by the AMC. v. No redemption of such units shall be allowed within the lock-in period in case of resignation or retirement before attaining the age of superannuation as defined in the AMC service rules. However, in case of retirement on attaining the superannuation age, such units shall be released from the lock-in....
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....units to the Key Employees', under the provisions of this Circular, on the website of the AMC. 5. Key Employees: Key Employees of the AMCs shall include: i. Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Risk Officer (CRO), Chief Information Security Officer (CISO), Chief Operation Officer (COO), Fund Manager(s), Compliance Officer, Sales Head, Investor Relatio....