Mumbai : Top mutual fund employees’ remuneration that SEBI earlier mandated to be disclosed on fundhouse’s website with granular details are now proposed to be disclosed on consolidated basis and scheme wise to unit holders on request .
A SEBI consultation paper has sought public comments by June 30, 2026 on the new proposals that are based on feedback received from the mutual fund industry.
“It is proposed that instead of disclosure of individual employee remuneration, AMCs may disclose consolidated remuneration along with the total number of such employees,” SEBI consultation paper said.
“This would provide a holistic and structured view of senior management compensation, enabling unitholders to assess the overall quantum of remuneration at the senior management level, while aligning the level of disclosure with considerations of materiality and proportionality,” it said.
“Scheme level consolidated disclosure of total remuneration paid to fund manager(s) at scheme level may be made available upon specific request of unitholders and may be limited to the scheme(s) in which the investor requesting such details has invested as on the date of making such request,” it further said.
SEBI consultation paper has sought public comments on whether remuneration details of fund managers should be disclosed on the website of the AMCs for all unitholders or made available upon request and whether any additional safeguards or conditions should be prescribed for such access.
Mutual funds were mandated to disclose names of all employees (on their website under a separate head-‘Remuneration”) whose annual remuneration is Rs 1.02 crore or more or monthly remuneration is Rs 8.5 lakhs if employed for part of the year as per Sebi circular issued on March 18, 2016 and April 28, 2017.
Key concerns highlighted by the industry included inherent structural differences between listed companies and mutual funds,privacy and data protection and limited incremental value to investors.
“The public disclosure of named individual remuneration may expose employees to risks relating to misuse of personal information. In addition, the mutual fund industry competes for talent with other segments such as Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs), where similar disclosure requirements are not applicable. This asymmetry may place AMCs at a competitive disadvantage and could have implications for talent retention,” It said.
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