When is AMFI likely to come out with its own mutual fund trading platform?
There is already an exchange platform and we have no plans of revisiting this area. Karvy Computershare and Computer Age Management Services (two of India’s largest register and transfer agents, which service 95 per cent of the mutual fund houses) have launched an online transaction platform. We are considering whether there is space for us. What is your view on the Swarup Committee’s recommendation to phase out commissions for insurance agents? Also, should there be an umbrella regulatory body instead of various monitoring agencies? The Swarup Committee’s proposal should be uniformly applicable to all financial instruments. An investor must have a clear understanding of the commission he needs to pay. However, we also feel that to promote instruments that carry even a little risk, such as mutual funds, which invest in capital markets, an intermediary needs to perform an active role. This can be achieved by ensuring transparency in compensation. Instead of an investor paying a separate
