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At last, financial advisors have to actually offer a service and you have to pay for it
There is turmoil among financial advisors. Until now, most fund houses used to pay distributors from the entry load and other upfront loads charged to investors. Suddenly, this tap has been closed. Since a new fund offering (NFO) could gouge 6% from the investors, NFOs were the most-sold products....
Shri Lakshmi Cotsyn Limited (SLCL) is a diversified textile manufacturer with a product range from embroidery, quilting and fusible interlining; it also has defence and army products like camouflage fabric uniforms and bullet-proof jackets. It sells many of these products to institutional clients. The company is implementing a three-phase expansion programme over FY06-09 to increase capacity...The mutual fund industry labours to survive under SEBI’s diktat
We think we should leave it to market forces to drive the fees/charges that intermediaries levy on investors… We will continue to monitor the progress.” This was the reaction of the Securities and Exchange Board of India (SEBI) to a Moneylife query about the impact on retail investors of its decision to scrap entry load on mutual...
