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Sebi mulls 30-day limit for MFs to deploy NFO funds
The Morning Standard
|October 31, 2024
CAPITAL market regulator Securities and Exchange Board of India (Sebi) is proposing to make it mandatory for mutual funds to deploy money collected from investors through new fund offers (NFOs) within 30 days from the date of allotment of units.
Currently, there is no time limit for deployment of funds.
In a consultation paper floated by the market regulator, it has said in exceptional cases when asset management company (AMC) is not able to deploy the funds in 30 business days, it must give reasons to the investment committee in writing, including details of efforts taken to deploy the funds.
This story is from the October 31, 2024 edition of The Morning Standard.
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