SEBI vide its circular no. SEBI/HO/IMD/DF2/CIR/P/2016/42 dated March 18,
2016 has mandated the Mutual Funds /Asset Management Companies to make the following
disclosures pertaining to a financial year on the MF/AMC website under a separate
head – 'Remuneration':
1. Name, designation and remuneration of Chief Executive Officer (CEO), Chief Investment
Officer (CIO) and Chief Operations Officer (COO) or their corresponding equivalent
by whatever name called.
2. Name, designation and remuneration received of all employees of MF/AMC whose:
a. Annual remuneration was equal to or above INR 60 lakh for that year.
b. Monthly remuneration in the aggregate is not less than INR 5 lakh per month,
if the employee is employed for a part of the financial year.
3. The ratio of CEO's remuneration to median remuneration of MF/AMC employees.
4. MF's total AAUM, debt AAUM and equity AAUM and rate of growth over last three
The underlying objective of the said SEBI circular was to promote transparency in
remuneration policies so that executive remuneration is aligned with the interest
of investors, MFs /AMCs
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Details of remuneration of executives and other personnel of HDFC Asset Management Company Limited