India has too many fund houses: Sebi chairman

The chairman of India’s securities regulator, U.K. Sinha, has told AsianInvestor that the nation has too many domestic fund management firms. At present India has 44 fund houses, which is less than half the number in mainland China (98), but Sinha – who was appointed to a second three-year term at the Securities and Exchange Board of India (Sebi) in February 2014 – said it was still too many. “After I came [to Sebi in February 2011] we discovered that many [fund houses] were not…