Regulator updates mutual fund rules to include REIT units, raise threshold to 97%, add REIT caps and wording changes

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....The regulator amended mutual fund regulations to: add units of Real Estate Investment Trusts (REITs) to the definition list; raise a prescribed threshold from 95% to 97%; permit insertion of REIT unit limits alongside equity thresholds (introducing 15% and 10% benchmarks and a 5% cap for Specialized Investment Funds where a mutual fund already holds 10%); replace references to "company" with "entity"; remove REIT-related references in provisions governing investment in infrastructure investment trusts (InvITs); and omit a specified clause in a chapter on disclosures/limits. The amendments take effect on Gazette publication.....