Mutual Fund Houses

According to an analysis of the data made public so far by the fund houses, the CEO salary given by the top four fund houses - ICICI Prudential Mutual Fund, HDFC MF, Reliance MF and Birla SunLife MF - increased in 2016-17. Sebi Allows Investors to Invest in Mutual Funds Via E-Wallets

SBI Mutual Fund

SBI Mutual Fund, which is the fifth biggest domestic fund, had appointed Anuradha Rao as its managing director and CEO in August 2016 and therefore the figure is not comparable. The salaries for chief investment officers have also increased for most of them. Surprisingly, some smaller fund houses have paid higher salaries than their bigger rivals, despite making losses or marginal profit.

HDFC Mutual Fund

Among the top players, HDFC Mutual Fund paid its CEO Milind Barve a salary of Rs 6.49 crore for the latest the fiscal year 2016-17. He had received a package of Rs 6.25 crore in the preceding fiscal year.

ICICI Prudential MF

ICICI Prudential MF paid Rs 5.96 crore to its managing director Nimesh Shah last fiscal year, as compared to Rs 5.4 crore in the preceding financial year.

Reliance MF

Reliance Mutual Fund (RMF) is the biggest Mutual Fund house in India. It has has been sponsored by Reliance Capital Ltd (RCL). Further, Sundeep Sikka, the top honcho of Reliance MF, received a pay package of Rs 5.01 crore. He had earned a salary of Rs 3.25 crore in 2015-16.

Birla SunLife MF

Birla Sun Life Mutual Fund is one of the familiar mutual funds investment companies in India. A Balasubramanian, chief executive at Birla SunLife MF, got a salary of Rs 4.11 crore, a surge from Rs 3.73 crore in 2015-16.

Largest Fund Houses

In terms of assets under management, ICICI MF is the largest fund house with an assets base of Rs 2.43 lakh crore, followed by HDFC MF (Rs 2.37 lakh crore), Reliance MF (Rs 2.11 lakh crore) Birla Sunlife MF (Rs 1.95 lakh crore) and SBI MF (Rs 1.57 lakh crore).

Sebi's Instruction

Last month, Sebi had directed fund houses to disclose annual remuneration of all employees earning Rs 1.02 crore or above within one month of a financial year, starting with 2016-17. Earlier, remuneration of all employees earning Rs 60 lakh in a financial year was required to be disclosed. This is part of Sebi's effort to promote transparency in remuneration policies so that executive salary is aligned with the interest of investors. While a few mutual fund houses have complied with Sebi's directive and disclosed the information, others still have to comply with the rule. A Beginners Guide On How To Invest In Mutual Funds In India