NISM-Series V-A: Mutual Fund Certification Exam Notes
Page 16 Of 63
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Day to day management of the schemes is handled by an AMC. The AMC is appointed by the sponsor or the Trustees.
Custody of the assets of the scheme (securities, gold, gold-related instruments & real estate assets) is with a Custodian, who is appointed by the Trustees.
Investors invest in various schemes of the mutual fund. The record of investors and their unit-holding may be maintained by the AMC itself, or it can appoint a Registrar & Transfer Agent (RTA).
The sponsor needs to have a minimum 40% shareholding in the capital of the AMC.
The sponsor has to appoint at least 4 trustees - at least 2/3rd of them need to be independent. Prior approval of SEBI needs to be taken, before a person is appointed as Trustee.
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