Kotak AMC suggests employees to buy only company's own funds
The company in a statement said there is no compulsion on its employees to invest in its mutual funds and that it is a voluntary decision.
By PTI | Updated:
MUMBAI: In a first, Kotak Mahindra Asset Management Company has asked its employees to invest in the company's own funds going forward.
However, the company in a statement said there is no compulsion on its employees to invest in its mutual funds and that it is a voluntary decision.
"Inspiration to invest in KMAMC's schemes only has come from our 250 plus staff themselves. Even though it is true that employees' investments in our schemes are a miniscule percentage of our total AUM of Rs 48,076.58 crore," Kotak Mahindra AMC managing director Nilesh Shah told PTI.
"Since most of our employees invest in our schemes only we took their advice and they readily agreed for the pledge," he added.
Shah also referred to a Sebi rule, which asks all AMCs to invest 1 per cent or Rs 50 lakh in each scheme.
However, the company in a statement said there is no compulsion on its employees to invest in its mutual funds and that it is a voluntary decision.
"Inspiration to invest in KMAMC's schemes only has come from our 250 plus staff themselves. Even though it is true that employees' investments in our schemes are a miniscule percentage of our total AUM of Rs 48,076.58 crore," Kotak Mahindra AMC managing director Nilesh Shah told PTI.
"Since most of our employees invest in our schemes only we took their advice and they readily agreed for the pledge," he added.
Shah also referred to a Sebi rule, which asks all AMCs to invest 1 per cent or Rs 50 lakh in each scheme.
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