Mutual fund valuation rules: thinly traded and illiquid securities valuation and 15% illiquid holdings cap enforced by guidelines. The amendment revises valuation, concentration and disclosure rules under the SEBI (Mutual Funds) Regulations, 1996: it substitutes a prior numerical threshold from sixty to thirty, mandates valuation of thinly traded securities per Board guidelines, caps aggregate illiquid securities at 15% of scheme assets with prescribed valuation for excess, requires provisioning for accrued but unpaid investment income per guidelines, and requires balance sheets to disclose aggregate carrying and market value of non-performing investments defined by absence of dividend or interest for the guideline-specified period.
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Provisions expressly mentioned in the judgment/order text.
Mutual fund valuation rules: thinly traded and illiquid securities valuation and 15% illiquid holdings cap enforced by guidelines.
The amendment revises valuation, concentration and disclosure rules under the SEBI (Mutual Funds) Regulations, 1996: it substitutes a prior numerical threshold from sixty to thirty, mandates valuation of thinly traded securities per Board guidelines, caps aggregate illiquid securities at 15% of scheme assets with prescribed valuation for excess, requires provisioning for accrued but unpaid investment income per guidelines, and requires balance sheets to disclose aggregate carrying and market value of non-performing investments defined by absence of dividend or interest for the guideline-specified period.
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