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of <h1>SEBI Mandates Mutual Funds to Value AT-1 Bonds Using Yield to Call Method, Aligning with Ind AS 113.</h1> The Securities and Exchange Board of India (SEBI) has issued a circular mandating that Mutual Funds must value Additional Tier 1 Bonds (AT-1 Bonds) based on the Yield to Call (YTC) method, as recommended by the National Financial Reporting Authority (NFRA). This aligns with the market practice of trading AT-1 bonds closer to YTC prices, consistent with Ind AS 113 principles. However, for other purposes, the deemed maturity of perpetual bonds should adhere to the guidelines in clause 9.4.2 of the Master Circular. This directive aims to protect investor interests and regulate the securities market effectively.
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