India's asset management stocks surge after regulator defers investor fee changes

Aditya Birla Sun Life Amc

30/06/2023 07:06

** Shares of Indian asset management cos Aditya Birla
Sunlife AMC  ADIE.NS , HDFC Asset Management  HDFA.NS , UTI
Asset Management  UTIA.NS  and Nippon Life India Asset
Management  NIPF.NS  surge between 5%-14%
    ** Markets regulator SEBI on Wednesday deferred a proposal
on standard investor fees by mutual funds
    ** SEBI had in May proposed that mutual fund houses charge
standardised fees from investors to ensure greater transparency
    ** SEBI will come out with another consultation paper to
standardise investor fees for mutual funds, its chairperson had
said on Wednesday
    ** "While we still await the shape of final regulations,
improved prospects of a less disruptive outcome augurs well for
AMC stocks," Kotak Institutional Equities said in a note

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))