Mumbai: On Wednesday, Sebi, India's capital markets regulator, introduced a number of measures intended to stimulate the growth of the mutual fund industry. These include the establishment of a Rs 33,000-crore corpus for a corporate debt market development fund and the authorization of private equity funds to sponsor a mutual fund house.
As part of its effort to make things easier for businesses, the regulator authorised mutual fund schemes to have self-sponsors.
Against the backdrop of Bandhan Financial Holdings, the Singaporean sovereign wealth fund GIC, and the private equity fund ChrysCapital's recent acquisition of IDFC Mutual Fund, regulators have decided to allow private equity funds to sponsor mutual fund houses.—Inputs from Agencies