TaxTMI 
TaxTMI 
Alignment of interest of Asset Management Companies (‘AMCs’) with the Unitholders of the Mutual Fund Schemes
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....nds Association of Mutual Funds in India Sir/Madam, Subject: Alignment of interest of Asset Management Companies ('AMCs') with the Unitholders of the Mutual Fund Schemes 1. Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2021 ('MF Amendment Regulations') was notified on August 05, 2021 (https://www.sebi.gov.in/legal/regulations/aug-2021/securities-....
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....') in their scheme(s) as provided in the Annexure. 4. For the purpose of para 3 above: a) The risk value of the scheme as per the risk-o-meter of the immediate preceding month shall be considered. b) The investment shall be maintained at all points of time till the completion of tenure of the scheme or till the scheme is wound up. c) AMCs shall, except in case of clos....
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....f temporary Mark to Market loss for two consecutive quarters. AMC shall ensure that such temporariness of the Mark to Market loss is certified by the statutory auditor. e) AMCs shall not be required to invest in ETFs, Index Funds, Overnight Funds, Funds of Funds scheme(s) and in case of close ended funds wherein the subscription period has closed as on date of coming into force of MF Amen....
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..../CIR/P/2020/100 dated June 12, 2020 shall stand rescinded from such date. 9. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 and Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. ....