SEBI AMENDED MUTUAL FUNDS REGULATIONS

SEBI has recenly amended the Securities and Exchange Board of India (Mutual Funds) Regulations,
1996 and the highlights of the same are as follows:

• A mutual fund may enter into derivatives transactions in a recognized stock exchange.
• No entry load shall be charged by any close-ended scheme
• A mutual fund repurchases units in a close-ended scheme, which fulfills the conditions mentioned shall deduct an amount representing proportionate initial issue expenses or part thereof remaining unamortized, from the repurchase proceeds. The amount recovered shall be credited to the unamortized initial issue expenses of the scheme.