November 16, 2015

Sebi wants MFs to lower salary of senior executives

Concerned over the high pay packets of top executives at mutual fund houses, capital markets regulator Sebi wants them to lower their salaries and adopt a more cost-effective structure.

One particular CEO of a fund house drew a salary of as high as Rs 5 crore last year, while the mutual fund CEOs on an average get a package of Rs 1-1.5 crore.

The issue is likely to be discussed by the fund houses during the next board meeting of the industry body AMFI, which also acts as the front-end regulator for mutual funds.


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