Addendum to SEBI Circular on Development of Passive Funds
Summary
This circular serves as an addendum to previous SEBI directives regarding the development of passive funds. It mandates that clause 2(IV)(A) of the referenced circular becomes applicable starting May 01, 2023. The directive is issued under Section 11(1) of the SEBI Act and Regulation 77 of the Mutual Funds Regulations.
Text
This has reference to SEBI Circular No. SEBI/HO/IMD/DOF2/P/CIR/2022/69 dated May 23, 2022... and subsequent addendum Circular No. SEBI/HO/IMD/DF2/CIR/P/2022/102 dated July 28, 2022 on development of passive funds.
In this context, based on further feedback received from stakeholders, it has been decided that the clause 2(IV)(A) of the circular shall be applicable with effect from May 01, 2023.
This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with the provision of Regulation 77 of SEBI (Mutual Funds) Regulation, 1996...
Source: SecMarx — Addendum to SEBI Circular on Development of Passive Funds. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.