SEBI on Friday formed two working groups to review the role and eligibility of a sponsor of a mutual fund to facilitate growth and innovation in the industry and to streamline the role and obligations of trustees of such financial instruments.
The working group for reviewing the role and eligibility of an MF’s sponsor will be chaired by A Balasubramanian, MD and CEO of Aditya Birla Sun Life AMC and chairman of industry body AMFI, while the other group constituted to streamline the role and obligations of trustees of MFs will be headed by Manoj Vaish, Independent Trustee of Mirae Mutual Fund.
