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of <h1>SEBI Bans Initial Issue Expenses for Close-Ended Mutual Fund Schemes; Expenses Must Be Covered by Entry Load.</h1> The Securities and Exchange Board of India (SEBI) has issued a circular to all registered mutual funds and the Association of Mutual Funds in India (AMFI) regarding the removal of initial issue expenses for close-ended schemes. Effective immediately, mutual funds are prohibited from charging initial issue expenses and amortizing them. Instead, sales, marketing, and distribution expenses must be covered by the entry load. This change aims to enhance transparency for investors and applies to all mutual fund schemes launched after this circular's issuance. Amendments to the SEBI (Mutual Funds) Regulations, 1996 will follow to reflect this update.
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