Clarification regarding investment of Mutual Fund schemes in units of Corporate Debt Market Development Fund
Summary
This circular clarifies that investments in Corporate Debt Market Development Fund (CDMDF) units must be excluded from the net asset base when calculating asset allocation limits for mutual fund schemes. The directive responds to a request by AMFI and aligns with the Master Circular for Mutual Funds dated May 19, 2023. These provisions are effective immediately under powers conferred by Section 11(1) of the SEBI Act, 1992.
Text
investment in units of CDMDF shall be excluded from base of net assets
The provisions of this circular shall come into force with immediate effect
This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of regulations 77 of SEBI (Mutual Funds) Regulations, 1996
Source: SecMarx — Clarification regarding investment of Mutual Fund schemes in units of Corporate Debt Market Development Fund. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.