Swing pricing for open ended debt funds: optional partial swing in normal times, mandatory full swing during market dislocation. A regulatory swing pricing framework for open ended debt mutual funds (excluding certain gilt and overnight funds) mandates a hybrid approach: AMCs may apply partial swing in normal times following AMFI prescribed thresholds and disclose the mechanism in SIDs, while SEBI declared market dislocation triggers mandatory full swing for high risk schemes identified by risk o meter and PRC matrix placement. A minimum swing factor matrix by credit and interest rate risk applies; NAVs for incoming and outgoing investors are adjusted, disclosures and AMC/trustee approved policies are required, and scheme performance is reported on unswung NAV.
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Provisions expressly mentioned in the judgment/order text.
Swing pricing for open ended debt funds: optional partial swing in normal times, mandatory full swing during market dislocation.
A regulatory swing pricing framework for open ended debt mutual funds (excluding certain gilt and overnight funds) mandates a hybrid approach: AMCs may apply partial swing in normal times following AMFI prescribed thresholds and disclose the mechanism in SIDs, while SEBI declared market dislocation triggers mandatory full swing for high risk schemes identified by risk o meter and PRC matrix placement. A minimum swing factor matrix by credit and interest rate risk applies; NAVs for incoming and outgoing investors are adjusted, disclosures and AMC/trustee approved policies are required, and scheme performance is reported on unswung NAV.
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