Amfi to approach Sebi on agent commission disclosure issue

The association of mutual funds, Amfi, has decided to approach capital market regulator Sebi on the issue of disclosing commission paid to individual agents by fund houses. Besides discussing proposed disclosure of individual agent commissions in the financial statements of fund houses, Amfi in its meeting on Thursday also discussed the issue of dividend stripping.

Sources said the Association of Mutual Funds in India (Amfi) has decided to approach Sebi on the matter of disclosure of individual agent commission in the larger interest of its members. As part of efforts to ensure more transparency, the industry body had asked the fund houses to disclose the individual distributor commission in the account statements sent to investors.