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of <h1>SEBI Updates Mutual Fund Valuation Guidelines: Emphasizes Recent Trading Values, Revises Risk-Free Benchmarks, Standardizes Government Securities Valuation.</h1> The circular issued by SEBI on February 20, 2002, addresses modifications to the guidelines for the valuation of securities for mutual funds. It updates the definitions and valuation methods for traded securities and thinly traded debt securities, emphasizing the use of recent trading values within specified timeframes. It revises the construction of risk-free benchmarks, categorizing Government securities into duration buckets to compute volume-weighted yields, and mandates weekly updates. Adjustments to mark up/mark down yields for rated and unrated instruments are specified, and mutual funds are advised to use benchmark yields provided by AMFI-recommended agencies for uniformity in valuing Government Securities.
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