The year 2016-17 has not just been rewarding for the asset management industry but also for staffers. Certain fund houses have given salary hikes of up to 45 per cent to their senior executives amid industry assets climbing to record level of Rs 18 lakh crore. Meanwhile, some top executives at the country’s largest fund mutual fund houses earn up to Rs 6.5 crore in salaries per financial year.
Last year, India's capital market watchdog Securities and Exchange Board of India (Sebi) had mandated all mutual fund houses to disclose salaries of their top officials. The move is to bring more transparency to the asset management industry.
Fund houses are required to disclose the pay details within one month after the end of the financial year.
For the second consecutive year, fund houses had disclosed the pay packages of their top executives. Some of the pay packages include incentives in forms of bonus and stock options. Here is a list of the country's top asset management companies and the remuneration of their top executives for 2016-17.