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of <h1>SEBI Updates Mutual Fund Norms: Limits on Unlisted Debt, NCDs, Sector, and Group Exposure to Boost Transparency.</h1> The circular issued by SEBI outlines revised investment norms for mutual funds in debt and money market instruments to enhance transparency and disclosure. Mutual funds are restricted from investing in unlisted debt instruments, with exceptions for government securities and certain derivatives. Unlisted Non-Convertible Debentures (NCDs) are limited to 10% of the debt portfolio, subject to specific conditions. Investments in structured obligations and credit-enhanced instruments are capped at 10% of the debt portfolio. Sector exposure limits are reduced to 20%, with additional provisions for housing finance companies. Group exposure limits are set at 10%, extendable to 15% with trustee approval. These changes aim to protect investors and improve market regulation.
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