Continuing interest requirement mandates fund managers maintain a prescribed investment and prohibits meeting it via fee waivers. Units of the Corporate Debt Market Development Fund shall be offered to Asset Management Companies and specified debt-oriented mutual fund schemes; such investments must comply with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996. The Manager or Sponsor must maintain a continuing interest in the Fund as an investment at or above the prescribed threshold, and this continuing interest may not be satisfied through waiver of management fees.
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Provisions expressly mentioned in the judgment/order text.
Continuing interest requirement mandates fund managers maintain a prescribed investment and prohibits meeting it via fee waivers.
Units of the Corporate Debt Market Development Fund shall be offered to Asset Management Companies and specified debt-oriented mutual fund schemes; such investments must comply with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996. The Manager or Sponsor must maintain a continuing interest in the Fund as an investment at or above the prescribed threshold, and this continuing interest may not be satisfied through waiver of management fees.
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