Trustee independence: debenture trustees may serve multiple mutual fund lite schemes only if independent and fit and proper. Regulation 84 permits a debenture trustee to serve as trustee of more than one mutual fund lite, provided the trustee is an independent entity not ... Summary
Trustee independence: debenture trustees may serve multiple mutual fund lite schemes only if independent and fit and proper.
Regulation 84 permits a debenture trustee to serve as trustee of more than one mutual fund lite, provided the trustee is an independent entity not associated with the sponsor or manager of the relevant mutual fund lite asset management company and meets the fit and proper person criteria under the Debenture Trustees Regulations, 1993.
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