 "Sebi")
The role of index providers and exchange-traded fund (ETF) providers has come under the spotlight amid a surge in demand for passive investment vehicles and growing clout of large indices such as the Nifty 50 and the S&P BSE Sensex.
As a result, the Securities and Exchange Board of India (Sebi) has started consultations with asset managers and other market players on whether it should come out with a formal regulatory framework for index providers. It is also debating whether certain indices should be designated as ‘significant’ or ‘systematically important’.
The assets under management (AUM) of passive funds offered by domestic mutual
