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Sep 07, 2007, 11.18 AM IST
Small mutual funds may oppose Sebi's move to waive the entry load on direct applications in mutual fund schemes.
 Small mutual funds may oppose Sebi's move to waive the entry load on direct applications in mutual fund schemes. Small mutual funds are apparently worried. That is because they stand to lose retail clientele to larger funds if Sebi's move to waive the entry load on direct mutual fund applications becomes a norm. Smaller funds depend entirely on distributors to sell their products. That is because they do not have a wide reach like large funds do. Besides, if the entry load is waived, distributors will be demotivated to sell mutual fund products, because they will not earn commission from the entry load. CNBC-TV18 learns that the mutual fund association, Amfi, had a close door-meeting with fund houses to discuss the issue. The outcome indicates two opposite views in the industry and no clear consensus. Out of 32 fund houses, only half were in favour. For more Mutual Fund News click here
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