Eligible mutual funds must have a minimum operational history of 3 years and an average AUM of at least Rs 10,000 crore over the same period. Additionally, neither the sponsor nor the AMC can have faced any regulatory action under sections 11, 11B, or 24 of the SEBI Act, 1992 within the past 3 years.
Mutual funds will now have to deploy NFO proceeds within 30 days, says Sebi
The Investment Committee may extend the timeline by 30 business days, providing recommendations to ensure timely deployment and ongoing monitoring. Upon receiving reasons for delays,
October 30, 2024