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PF money to mutual funds only after consultation: SEBI chief

| | Updated on: Jul 16, 2012
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Amidst efforts to re-energise the mutual fund industry, the SEBI Chairman, Mr U.K. Sinha, called on the Deputy Chairman of the Planning Commission, Mr Montek Singh Ahluwalia, on Monday.

This meeting assumes significance as Mr Ahluwalia is considered to be among one of the most trusted aide of the Prime Minister.

The Prime Minister had said, “On the financial sector side, we need to see how we can improve matters. There are issues about the mutual fund industry which need to be resolved.”

Mr Ahluwalia termed this meeting as the courtesy call, while Mr Sinha refused to comment on the same.

However, the SEBI Chairman did say that any decision about bringing in pension sector money into the mutual fund will be taken only after talking to all the regulators.

“Our effort will be to avoid turf war between different regulators on investment into mutual fund,” he added.

He also said SEBI will work towards reviving interest in MF industry. Decision on mutual fund industry will be taken at the next board meet, he informed.

shishir.s@thehindu.co.in

Published on July 16, 2012

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