mutual funds

Decisions at SEBI board meeting dated 17th February 2020

Amendments to SEBI (Mutual Funds) Regulations, 1996 pertaining to:

A. Custodian for gold or gold related instruments
In order to reduce concentration of custodial services for gold or gold related
instruments, the Board approved the proposal to amend the SEBI (Mutual Funds)
Regulations, 1996 providing for non-bank custodians in addition to bank-custodian
to offer custodian services for gold or gold related instruments of Gold ETFs.

B. Investment by the Sponsor or Asset Management Company in Close Ended
Schemes
Currently, the investment by the Sponsor or Asset Management Company is
mandatory in all schemes except close ended schemes. In order to bring uniformity
across schemes, the Board has decided that Sponsor or AMC shall invest in close
ended schemes also.

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