Fund managers appear to have certainly missed the bus, and now the stock seems to be poking fun at fund managers climbing a good 40 percent. Infact, the stock even hit record high.
According to Sebi, an AMC can become a self-sponsored subject to certain conditions the AMC should have been carrying on business in financial services for at least 5 years, should have a positive net worth in all the immediately preceding five years, and net profit of Rs 10 crore in each of the immediately preceding five years.
Investment in small-cap mutual funds is riskier but can yield higher returns. The top performers in the last six months include HDFC, Franklin India, Nippon India, Tata, and Quant Small Cap Funds
Capital market watchdog Sebi on Friday came out with a regulatory framework for private equity funds sponsoring a mutual fund house as well as for self-sponsored Asset Management Companies (AMCs).