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of <h1>SEBI Issues Guidelines for Mutual Funds on Derivatives Trading: Focus on Hedging and Portfolio Balancing, Limits Set at 50.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) outlines guidelines for mutual funds participating in derivatives trading, specifically for equity-oriented schemes. The primary objectives are hedging and portfolio balancing without resulting in leverage or short sales. Mutual funds must back all derivatives positions with cash or stock, maintaining a maximum net derivatives position of 50% of the portfolio. The Board of Trustees must specify limits for individual scrips and ensure risk containment measures. Disclosure and accounting norms require funds to report derivatives exposure and positions, with detailed internal and trustee reporting.
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