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of <h1>SEBI Amends Mutual Funds Rules: Custody for Gold ETFs and Sponsor Investment Mandates Updated.</h1> The Securities and Exchange Board of India (SEBI) issued an amendment to the Mutual Funds Regulations, 1996, effective upon publication in the Official Gazette. The amendment allows assets of a gold exchange-traded fund scheme to be kept with a SEBI-registered custodian. It also mandates that sponsors or asset management companies invest at least one percent of the amount raised in a new fund offer or fifty lakh rupees, whichever is less, with such investment remaining until the scheme is wound up. The investment must be in a scheme option specified by SEBI.
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