Mutual fund regulation updated: gross exposure capped to net assets and governance, disclosure, and procedural reforms introduced The circular revises multiple MF circulars to cap cumulative gross exposure across equities, debt, derivatives, repos and other permitted assets to the net assets of the scheme; prescribes updated investment pattern disclosures with minimum/maximum allocations and defensive reallocation flexibility; replaces the procedure for change in control of AMCs with conditions including trustees' and board approvals, unitholder communication and a minimum 30 day exit option, undertakings by incoming sponsors/trustees and revision of offer documents; and mandates electronic filings, quarterly voting disclosures, revised reporting timelines, updated dividend and SID/KIM procedures, and treatment of NCPS as debt.
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Mutual fund regulation updated: gross exposure capped to net assets and governance, disclosure, and procedural reforms introduced
The circular revises multiple MF circulars to cap cumulative gross exposure across equities, debt, derivatives, repos and other permitted assets to the net assets of the scheme; prescribes updated investment pattern disclosures with minimum/maximum allocations and defensive reallocation flexibility; replaces the procedure for change in control of AMCs with conditions including trustees' and board approvals, unitholder communication and a minimum 30 day exit option, undertakings by incoming sponsors/trustees and revision of offer documents; and mandates electronic filings, quarterly voting disclosures, revised reporting timelines, updated dividend and SID/KIM procedures, and treatment of NCPS as debt.
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