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The fund management companies are mum about it but they have been stunned by the way the Securities and Exchange Board of India (SEBI) has hit them with two new rules. One, the annual fee that asset managers pay to SEBI has been raised from Rs. 25,000 to 0.3% of the money collected in New Fund Offers (NFOs) or a minimum of Rs. 1 lakh. This means that that if a fund raises Rs 5000 crores in a...
