The government ordinance on the life insurance business has ruffled up mutual fund houses. Echoing the industry s resentment, a CEO of a large fund house asked, Why are we being given a step-motherly treatment? However, fund houses are grudgingly coming to terms with the fact that two competing products are being treated in different fashion. We welcome these steps and the institutional mechanism (with various market participants) to address common issues and ensure that competitive products co-exist with healthy competition among them, said AP Kurian, chairman of the Association of Mutual Funds of India (Amfi). On Friday night, the government ...

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