Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Money / Lower fee for mutual funds filed on or after 1 July: SEBI
BackBack

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

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

Premium

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 08 Jul 2009, 02:52 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App