Specified mutual fund classification turns on prescribed debt exposure, including indirect fund-unit investments, measured through annual daily averages. A Specified Mutual Fund includes a mutual fund investing more than 65 per cent of its total proceeds in debt and money market instruments, or a fund ... Summary
Specified mutual fund classification turns on prescribed debt exposure, including indirect fund-unit investments, measured through annual daily averages.
A Specified Mutual Fund includes a mutual fund investing more than 65 per cent of its total proceeds in debt and money market instruments, or a fund investing 65 per cent or more in units of such a fund. The investment percentage is computed using the annual average of daily closing figures. Debt and money market instruments include securities classified or regulated as such by the Securities and Exchange Board of India.
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