On 02-07-2024, the Securities and Exchange Board of India notified the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2024 to amend the . These Regulations came into force on 02-07-2024.
Key Points:
Earlier, Clause 9(c) of the Seventh Schedule stated that no mutual fund [scheme] shall make any investment in the listed securities of group companies of the sponsor which is in excess of 25 percent of the net assets.
After the 2024 regulations amendment, an exception to the above provision has been added which provides that investments by equity-oriented exchange traded funds and index funds may be done which may be subject to the conditions specified by the Board.
The post appeared first on .