By announcing the setting up of trading platform for mutual fund units in the exchanges, Sebi has automatically opened the mutual fund window to millions of potential investors from the rural and semi-urban areas. This is an indication that the investors are all set to rule in the fast-growing mutual fund industry.

A very recent circular issued by the Sebi created big news in the mutual fund circles. In another paradigm shift, Sebi announced a dedicated trading platform for the mutual fund products on the major stock exchanges. The din that was created in the distributor and advisor circles after the announcement of the ban on entry load (a charge levied while selling mutual fund products) a few months back had not settled down completely, when the above new announcement hit the mutual fund industry. The writing is on the wall for the intermediaries in the mutual fund industry. Shape up or ship out. Even the fund houses got a clear message. Reorient policies for investor benefit. It is evident that investors are set to rule.

Before examining the two big recent events, along with many other investor-friendly initiatives of the regulator, that have shaken many in the mutual fund industry, let us peruse the issue from scratch. In the last 18 months, Sebi made news on several occasions when they released as many as 22 circulars with a strike rate of more than one a month (may be a record), touching almost every issue of the mutual fund business and possibly hitting every participant of the industry barring one, `the investor'. The given Table highlights the major circulars issued by Sebi to the mutual fund industry.

The Analyst Magazine, Mutual Fund Units, Mmutual Fund Industry, Securities Exchange Board of India, SEBI, Asset Management Company, AMC, Association of Mutual Funds of India, AMFI, Financial Inclusion, Individual Financial Advisor, IFA, Key Information Memorandum, KUM.