Long-term policy for MFs very soon: Sebi

‘There is a need to refocus on the purpose and need to refocus on the goal of mutual funds. ‘We have had our consultations with the industry stake-holders and we are hopeful that very soon we will be coming out with our long-term mutual fund policy which will help in the growth of the industry,’ Sinha told reporters on the sidelines of an SBI Mutual Fund event here. It can be noted that 44 MFs collect over 90 per cent of their customers in the few top metros and despite many efforts by the regulator, penetration into the non-metro and rural markets is too low. On the realty MF — the real estate investment trust funds — he said Sebi had received some representation from the industry.

‘We have received some representation from industry and we are trying to look into what are the changes required so that this product can also be launched soon,’ he said.