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The Securities and Exchange Board of India - SEBI has asked mutual fund houses to make monthly disclosures about assets managed by them.
This will be applicable as part of the long term policy for the mutual fund industry, that was unveiled by SEBI on Monday.
Through this policy, SEBI has further suggested selling of mutual funds through public sector banks and online to increase their penetration.
Further, SEBI has asked mutual funds to disclose the rationale while exercising their voting rights in investee companies on a quarterly basis.
The regulator has also asked fund houses to make available printed literature in regional languages for investor education and financial inclusion.
The first-ever long term policy for over Rs 9 lakh crore mutual fund industry will be effective from 1st April, 2014.
Its aim will be to make mutual funds an attractive investment proposition for retail investors and to bolster distribution channels.
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