Qualified foreign investor access to mutual funds: permitted with KYC/AML compliance, designated accounts, ceilings and non transferable units. SEBI allows Qualified Foreign Investors (QFIs) meeting FATF, PMLA and SEBI KYC/AML standards to invest in mutual fund equity and eligible debt schemes via two routes: direct demat holdings through qualified DPs and indirect holdings via Unit Confirmation Receipts (UCRs). Investments are subject to aggregate ceilings, daily reporting to SEBI, non transferability and non encumbrance of units/UCRs, designated overseas bank account remittances, DP and UCR issuer qualification and operational procedures, tax withholding on redemptions, and compliance with FEMA/RBI regulations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Qualified foreign investor access to mutual funds: permitted with KYC/AML compliance, designated accounts, ceilings and non transferable units.
SEBI allows Qualified Foreign Investors (QFIs) meeting FATF, PMLA and SEBI KYC/AML standards to invest in mutual fund equity and eligible debt schemes via two routes: direct demat holdings through qualified DPs and indirect holdings via Unit Confirmation Receipts (UCRs). Investments are subject to aggregate ceilings, daily reporting to SEBI, non transferability and non encumbrance of units/UCRs, designated overseas bank account remittances, DP and UCR issuer qualification and operational procedures, tax withholding on redemptions, and compliance with FEMA/RBI regulations.
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