October 25, 2015

SEBI wants mutual funds to join e-commerce bandwagon

As an ever-growing number of consumers flock to e-commerce websites for their shopping needs, regulator Securities and Exchange Board of India (SEBI) is considering allowing sale of mutual funds through these platforms to deepen this market.
The mutual fund industry has been growing considerably over the last few years and currently has assets under management of over Rs. 13 lakh crore, but it has been felt that a huge growth opportunity remains untapped especially among the retail investors.
To make it easier for investors to buy mutual funds in a cost-effective manner, SEBI is now looking into suggestions to allow sale of these schemes on e-commerce platforms, sources said.
SEBI chairman U K Sinha, who himself was heading leading fund house UTI Mutual Fund before becoming chief of the capital markets watchdog in 2011, recently met representatives from e-commerce and other technology platforms.

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