What role does a Sponsor play in a Mutual Fund?
Published on Fri, Jan 19, 2001 | Source : Legal Pundits.com
The Sponsor:
- Is the settlor or author of the Trust.
- Files an application with SEBI for grant of registration.
- Has to incorporate and capitalize the Asset Management Company and the Trustee Company.
- Nominates the Directors on the board of the AMC and also appoints Trustees or Directors on the Trustee Company.
- Establishes the Mutual Fund after obtaining registration from SEBI.
- Performs all the function of a promoter.
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