Market regulator Securities and Exchange Board of India (Sebi) recently said that “there shall be no entry load for schemes, existing or new”, a directive that has forced the mutual funds industry to gear up for a new fee structure from August 1 2009. Association of Mutual Funds in India (AMFI) Chairman A P Kurian told PTI that “it is a new system. It is investor-centric. All three stakeholders — distributors, fund houses and investors — will have to adjust to the new system.”
Currently, as much as 85 to 90 per cent of the industry’s business is generated through distributors, Kurian said.
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