Fault lines exposed in MF industry, several risky investments made for higher yields: Sebi chief
Live MintIn a tough message for returns-focussed mutual funds, regulator Sebi Chairman Ajay Tyagi on Tuesday said the industry has exposed its fault lines with several risky investments made for want of higher yields and it is high time for them to play as per the rule book and stop compromising on safety. Addressing the mutual fund industry body AMFI's Members Summit here, Tyagi said a certain element of self-discipline by the players themselves could have averted the problems they have landed into after credit defaults and the regulator might not have been required to step in with remedial measures. Tyagi said till about a year back, the significant growth of the mutual fund industry was one of the most talked about success stories of capital markets in India. "The recent events also threw into the spotlight several risky investments made by the industry in the quest for higher yields.
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