Dr.G.Brindha
Management cum governance is considered as a proactive controlling mechanism for protecting best interests of all the stakeholders of any companies. Despite a lot of initiatives had been taken around the world in the form of codes/laws for ensuring good governance for corporate sector, the issue of mutual fund governance had not been discussed in detail. But, in view of the growth of that industry and the magnitude of public funds the mutual fund companies are managing over the years, a renewed interest on its governance mechanism is the need of the hour. Here, in this paper, an attempt has been made to enquire the governance practices of Indian mutual fund industries. After studying the governance structure of asset management companies (AMCs) of the sample mutual fund companies, it was found that the structure and composition of board of directors of these AMCs were not encouraging enough with a little and sometimes no information about the functioning of the board of these AMCs. Under this circumstance, a lot of measures for improvement of governance and disclosure standards are expected from regulatory body like SEBI.
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