Credit risk based single issuer limit introduced for mutual fund schemes, imposing rating-tiered exposure caps with limited relaxations. A credit risk based single issuer limit mandates that mutual fund schemes' investments in debt and money market instruments be capped according to issuer credit rating tiers, with a limited board approved extension allowed subject to the overall regulatory ceiling; long term ratings govern money market exposures with conservative mapping where absent, government money market instruments treated as government securities, new schemes covered from issuance and existing schemes grandfathered until underlying maturities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Credit risk based single issuer limit introduced for mutual fund schemes, imposing rating-tiered exposure caps with limited relaxations.
A credit risk based single issuer limit mandates that mutual fund schemes' investments in debt and money market instruments be capped according to issuer credit rating tiers, with a limited board approved extension allowed subject to the overall regulatory ceiling; long term ratings govern money market exposures with conservative mapping where absent, government money market instruments treated as government securities, new schemes covered from issuance and existing schemes grandfathered until underlying maturities.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
