Valuation of Additional Tier 1 Bonds (“AT-1 Bonds”).

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.... Agents ('RTAs') Association of Mutual Funds in India (AMFI) Sir/Madam, Subject: Valuation of Additional Tier 1 Bonds ("AT-1 Bonds"). 1. This has reference to clause 9.3.1.1 and clause 9.4.2 of the Master Circular No. SEBI/HO/IMD/IMD-PoD-1/P/CIR/2024/90 dated June 27, 2024 for Mutual Funds ("Master Circular"), on valuation of bonds with multiple call options. 2. National Financial R....

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....as been decided that the valuation of AT-1 Bonds by Mutual Funds shall be based on Yield to Call. 5. For all other purposes, since liquidity risk of perpetual bonds is required to be suitably captured, deemed maturity of all perpetual bonds shall continue to be in line with the clause 9.4.2 of the Master Circular. 6. This circular is issued in exercise of powers conferred under Section 11(1)....