Sebi sets minimum asset limit for debt MF schemes
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Mumbai: The Securities and Exchange Board of India, or Sebi, on Friday directed all debt-oriented and balanced mutual fund schemes to have a minimum subscription amount of Rs.20 crore at the time of a new fund offer (NFO). For other schemes, the minimum subscription requirement will be Rs.10 crore.
Sebi said many debt-oriented schemes are operating with very low assets under management, or AUM. “In the interest of investors, it is important that debt-oriented schemes have an adequate corpus to ensure adherence to the investment objectives...,” said Sebi.
Additionally, an average AUM of Rs.20 crore on a half-yearly rolling basis has to be maintained for open-ended debt-oriented schemes.
Existing open-ended debt-oriented schemes will be given a year to comply with this norm.
If any open-ended debt scheme happens to be in breach of the latest norms, asset management companies, or AMCs, will be given six months to scale up their assets for compliance.
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