India’s Sebi responds to fund manager frustrations

Armed with a box file of fund manager gripes, AsianInvestor travelled to Mumbai to meet Sebi’s executive director Kavasseri Narayanan Vaidyanathan, who ran a mutual fund for seven years at Morgan Stanley prior to taking up his role in June 2009. There is concern that some of Sebi’s regulatory efforts have been to the detriment of industry growth. How do you feel about that? K.N. Vaidyanathan: I understand if someone says control and growth have to be traded off. Regulations are c…