Lower fee for mutual funds filed on or after 1 July: SEBI

Lower fee for mutual funds filed on or after 1 July: SEBI
PTI
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First Published: Wed, Jul 08 2009. 02 52 PM IST
Updated: Wed, Jul 08 2009. 02 52 PM IST
Mumbai: Market regulator Sebi on Wednesday clarified that the revised filing fee for offer documents of mutual funds will be applicable to those schemes registered with the market regulator on or after 1 July.
“It is clarified that the revised filing fee would be applicable to those scheme(s) whose scheme information document(s) has been filed with SebiI on or after1 July, 2009,” the regulator said in a circular.
On18 June, the Securities and Exchange Board of India in its meeting had amended the Sebi (Mutual Funds) Regulations, 1996, cutting the filing fee for offer documents to 0.002% from 0.005% of the amount raised in the new fund offer, subject to a minimum of Rs1 lakh and a maximum of Rs50 lakh.
Sebi on Wednesday informed mutual funds, asset management companies (AMC) and the Association of Mutual Funds in India (AMFI) about the clarification related to the filing fee.
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First Published: Wed, Jul 08 2009. 02 52 PM IST