Ad impressions on digital advertising grow by 43% in July-September 2023, reveals TAM report Digital medium witnessed an increase in impressions by 43% in July-September 2023 compared to January-March 2023. Ad impressions on Digital Advertising witnessed growth during both the periods April-June 2023 and July-September 2023 of 60% and 43% respectively compared to January-March 2023. July-September 2023 observed growth of 30% in ad impressions compared to July-September 2022, according to a report by TAM. Services was the leading sector with 51% share of impressions during July-September 2023. The top 10 sectors together added 86% share of ad impressions in July-September 2023. Retail was the only new entrant in the top 10 sectors during July-September 2023 over April-June 2023 on digital advertising. During July-September 2023, there were five new advertisers present in the top 10 list compared to April-June 2023. During July-September 2023, the top 10 advertisers collectively added 18% share of ad impressions. Amazon was the leading brand in July-September 2023. Compared to April-June 2023, Amazon.In ascended to first position in July-September 2023. The top 10 brands contributed 14% share of ad impressions in July-September 2023. Five new brands entered the top 10 list during July-September 2023 compared to April-June 2023. Retail Outlets-Departmental Stores Category witnessed growth by 9.3 times during July-September 2023 compared to April-June 2023. Ecom-Media/Ent./Social Media among categories witnessed highest increase in impression with growth of 27% followed by cars with 133% growth during July-September 2023 compared to April-June 2023. Twitter.com was the leading publisher with 44% share of impressions in July-September 2023. The top 10 web publishers together accounted for 50% share of ad impressions in July-September 2023. During July-September 2023, YouTube alone had 12% of impressions. The top 10 web publishers together accounted for 50% share of ad impressions in July-September 2023. Desktop Display retained its first position with 46% share of impressions in July-September 2023 compared to April-June 2023. Programmatic was the most popular method for promoting ads on digital platforms, accounting for 86% of total ad impressions, followed by Ad Network method with 11% share in July-September 2023. In transaction methods, Programmatic retained its first position with 86% share of impressions in July-September 2023 over April-June 2023. Follow us onTwitter,Instagram,LinkedIn,Facebook
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In its consultation paper, Sebi has suggested that trustees of mutual funds should focus on market abuse by AMC, its employees and mis-selling by the AMC to increase the asset base.
Also, trustees should be responsible for fairness of fees and expenses charged by the AMC, compare its performance with peers and ensure that AMC’s sponsor is not getting any undue advantage.
In addition to the core areas, the trustees should be responsible for periodically reviewing the steps taken by AMCs for the folios which do not contain all KYC attributes with bank details.
Further, Sebi has suggested that trustees and their resource persons should independently evaluate the extent of compliance by AMC and not merely rely on AMC’s assurances.
To facilitate trustees’ supervision, AMCs should provide them with analytical information.
Presently, the trustees primarily rely on the AMCs for ensuring compliance with the applicable rules.
Under the rules, trustees hold the property of the mutual fund in trust for the benefit of the unitholders. The trustees appoint an AMC to float schemes for the mutual fund and manage the funds mobilised under various schemes, in accordance with the investment objectives.
“In view of the increasing scale and reach of the mutual fund industry, trustees’ role in respect of unitholders’ protection assumes even greater significance,” Sebi said on Friday.
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Over the past decade there has been a five-fold increase in the size of the mutual fund industry. The assets under management (AUM) has surged from Rs 7.93 lakh crore in November 2012 to Rs 39.89 lakh crore in December 2022.
To ensure that trustees devote time and attention to their core responsibilities, Sebi has suggested that for fulfilling other responsibilities, trustees may rely on professional firms such as audit firms, legal firms, merchant bankers for carrying out due diligence on their behalf.
The Sebi also listed some duties trustees can delegate to AMCs. This include ensuring that all systems are in place prior to the launch of any scheme by the AMC, and calculating any income in the mutual fund due to the fund and any income received in the mutual fund for unitholders.
The regulator has proposed to provide a one year time to existing trustees with board of trustee structure to convert into a trustee company, from governance point of view.
Presently, two structures for trustees are permitted — corporate and board of trustees structure. Moreover, there are a few mutual funds which have the board of trustees structure while the trustees of all other mutual funds have adopted the structure of a trustee company.
Considering the enhanced role of trustees over the period of time, Sebi has suggested to increase the minimum number of trustees to adequately perform their functions. Presently, the minimum number of trustees prescribed is four.
Also, it has been proposed that the chairperson of the trustee company should be an independent director.
Sebi has suggested that apart from the meeting of the audit committee of AMCs and trustees (which mostly comprises of independent directors), the board of AMCs and the board of trustees may be mandated to meet at least once a year to discuss the issues concerning the mutual funds.
The regulator proposed that the existing MF Regulations on AMC and its obligations may be amended to include additional clauses with respect to the obligations of the board of AMC.
The proposed amendment may include a clause which casts an obligation on the board of AMC to ensure that all the activities of the asset management company are in accordance with the provisions of these regulations.
The Securities and Exchange Board of India (Sebi) has sought comments from public till February 24 on these proposals.