TaxTMI 
TaxTMI 
Guidelines on Inter Scheme Transfers of Securities
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....ective of the scheme to which such transfer has been made. In order to ensure that such Inter Schemes Transfers (ISTs) of securities are in conformity with the above objective, the following additional safeguards have been prescribed: 1. In case of Close Ended Schemes, IST purchases would be allowed within "three" business days of allotment pursuant to New Fund Offer (NFO) and thereafter, no ISTs shall be permitted to/from Close Ended Schemes. 2. In case of Open Ended Schemes, ISTs may be allowed in the following scenarios: a) For meeting liquidity requirement in a scheme in case of unanticipated redemption pressure: AMCs shall have an appropriate Liquidity Risk Management (LRM) Model at scheme level, approved by ....
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....k scheme. III. In order to guard against possible mis-use of ISTs in Credit Risk scheme, trustees shall ensure to have a mechanism in place to negatively impact the performance incentives of Fund Managers, Chief Investment Officers (CIOs), etc. involved in process of ISTs in Credit Risk scheme, in case the security becomes default grade after the ISTs within a period of one year. Such negative impact on performance shall mirror the existing mechanism for performance incentives of the AMC. 3. No ISTs of a security shall be allowed, if there is negative news or rumors in the mainstream media or an alert is generated about the security, based on internal credit risk assessment in terms of clause F of SEBI Circular No. SEBI/HO/IMD/D....
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.... Transferor Scheme Transferee Scheme Category of scheme As per LRM minimum cash & cash equivalent required for the scheme Net cash position after projected inflow and outflow Line available and borrowing utilized (record, in case borrowing was not utilized) # Not Applicable Sale proceeds of the securities utilized (record with evidence including screenshot of Request For Quote (RFQ), the attempt to sell liquid assets in market) Not Applicable If all above is not sufficient then ISTs of optimal mix of low duration paper with highest quality paper and so on Not Applicabl....
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....am media about the said security, nor any credit alert for last four months. 3. Fund Manager of transferee scheme confirms that he/she has done full credit risk assessment of security before buying the same through ISTs, and the same is documented. Name and Signature of Fund Managers Name and Signature of Chief Investment officer Name and Signature of Compliance officer c. For Issuer/Sector/Group rebalancing Template for ISTs to rebalance Issuer/Sector/Group concentration ISIN of security to be transferred Name of security to be transferred Date and time of ISTs Particular Transferor Scheme T....