Mutual funds can submit final offer documents 2 days before launch: Sebi

Mutual funds can submit final offer documents 2 days before launch: Sebi
PTI
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First Published: Tue, Sep 29 2009. 07 54 PM IST
New Delhi: With an aim to help investors and create a central data base, Sebi on Tuesday asked mutual funds to submit their final offer documents two days before the launch of a particular scheme as these would be uploaded on the market regulator’s website.
The asset management companies will have to submit “a soft copy of Scheme Information Document (Sid) alongwith printed/ final copy two working days prior to the launch of the scheme,” Sebi said in a circular.
“The move is a good one and is in investor interest. As earlier only draft offers of the MF schemes were placed on Sebi website for 15 days or so, till the scheme was approved. With this circular, fund houses will now have to put the final offer documents on the regulator’s site, which will also create a good data base,” Taurus Mutual Fund managing director R. K. Gupta said.
The fund houses will have to submit a soft copy of the additional information (Sai) document as well.
Moreover, mutual funds are also required to file with Sebi, in PDF format, the updated versions of Sid and Sai within seven days alongwith a printed copy, Sebi said.
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First Published: Tue, Sep 29 2009. 07 54 PM IST