“If the proposal is implemented, many mutual fund distributors may want to get a PMS license as execution will become easier under the new framework. MFDs, who had to get signatures on each investment in mutual funds from the client, will now be able to invest, redeem or switch between schemes with more ease. This could become the biggest push for PMS industry AUM within the proposed changes,” said Sushant Bhansali, chief executive officer at Ambit Asset Management.
