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of <h1>SEBI Revises Mutual Fund Sponsor Criteria: New Rules for AMCs, Private Equity Involvement, and Self-Sponsorship Starting August 2023.</h1> The Securities and Exchange Board of India (SEBI) has introduced revised eligibility criteria for sponsors of mutual funds to enhance industry penetration and innovation. Key changes include requirements for asset management companies (AMCs) to maintain minimum net worth in specified assets and conditions for acquisition and control changes in AMCs. Private equity funds can now sponsor mutual funds under certain conditions. Sponsors can voluntarily reduce their stake in AMCs, allowing AMCs to become self-sponsored if specific criteria are met. Provisions for re-association of sponsors are outlined if AMCs fail to meet self-sponsorship criteria. The circular's provisions take effect on August 1, 2023, with some exceptions effective January 1, 2024.
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