Debt paper: Rule change likely for Mutual Fund investment
·
Investment limit in a single issuer
to be changed to less than 15%, depending on the rating of the paper.
·
At present, Securities and Exchange
Board of India restricts investment in rated investment grade debt instruments
issued by a single issuer to 15 per cent of the scheme’s Net Assets Value
·
About Rs 1 lakh crore of mutual
funds’ assets under management exposed to papers perceived to be high risk
·
SEBI wants mutual funds to stop relying on
credit rating agencies, build own risk assessment system
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SEBI asks fund houses to follow best practices guidelines on
upfront commission.
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