The proposed product, a hybrid between mutual funds and portfolio management services, aims to target investors with a high risk appetite and shield them against unregistered entities.
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SEBI’s interim order details how the green energy poster boy built a paper empire with investor money while living a billionaire lifestyle.
SBI is in discussions with its French partner on the contours of a near Rs 20,000-crore listing of the mutual fund house. But challenges in the form of a unique shareholder agreement and the recent poor performance of the AMC could derail plans.
While paying heed to the growing concerns of mutual funds around how mandatory investment norms are affecting junior employees, the market regulator has ensured the industry remains accountable to investors.