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of <h1>SEBI Mandates Listing for Close-Ended Mutual Funds; Daily NAV Required and Investment Restrictions Applied.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) mandates that all close-ended mutual fund schemes launched on or after December 12, 2008, must be listed, except for Equity Linked Savings Schemes. Listing fees are allowable expenses, and trustees must secure in-principle listing approval from stock exchanges before launching a scheme. The Net Asset Value (NAV) must be calculated and published daily. Close-ended debt schemes are restricted to investing in securities maturing by the scheme's maturity date. Schemes with final observations under Regulation 29 must update their Scheme Information Document before launch.
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