Mutual fund schemes must state subscription limits; pro rata allotment and mandated refunds apply when conditions are unmet. The asset management company must state the minimum and, where applicable, the maximum subscription amount in the offer document; allotment on ... Summary
Mutual fund schemes must state subscription limits; pro rata allotment and mandated refunds apply when conditions are unmet.
The asset management company must state the minimum and, where applicable, the maximum subscription amount in the offer document; allotment on oversubscription is made on a pro-rata basis; the mutual fund and asset management company must refund application money within the period specified by the Board where minimum subscription is not met, subscriptions exceed the maximum, or applications are rejected; and the scheme must deploy new fund offer proceeds within the Board-specified time.
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