Year 2017 was one of the most remarkable years for the mutual fund industry both in terms of growing the equity asset class, as well as systematic investment plans (SIP) as a mode of investing
Prelims relevant info
What is LTCG tax?
It is the tax paid on profit generated by an asset such as real estate, shares or share-oriented products held for a particular time-frame. The definition of Long-term Capital Gains, or LTCG, is different for various products
Although mutual funds (MF), as a financial instrument, is supposed to be available in every nook and corner of the country, the reality is that it’s hard to find a distributor selling MFs just about anywhere or any MF’s office in, say, remote areas
- The capital market regulator, Securities and Exchange Board of India (Sebi) wants to change this and have incentivized fund houses to go to what is commonly referred to in MF parlance as—B15 cities. While B15 stands for beyond (top) 15 cities, T15 stands for top 15 cities. Association of Mutual Funds in India (Amfi) has analysed inflows of fund houses, geography-wise, and has classified cities as T15 and B15 in the order of inflows that come from these places