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Norms for Debt Exchange Traded Funds (ETFs)/Index Funds - SEBI - SEBI/HO/IMD/DF3/CIR/P/2019/147

Extract

..... rs. (c) No single issuer shall have more than 15% weight in the index. (d) The rating of the constituents of the index shall be investment grade. (e) The constituents of the index shall have a defined credit rating and defined maturity as specified in the index methodology. 2. Replication of the Index by Debt ETFs/Index Funds shall be as follows: (a) Debt ETFs/Index Funds shall replicate the index completely. (b) In the event, if the condition laid down in para 2(a) above is not feasible due to .....

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Norms for Debt Exchange Traded Funds (ETFs)/Index Funds - SEBI

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..... , the Debt ETFs/Index Funds shall be allowed to invest in issuances of issuer(s) not forming part of the index with duration, yield and credit rating in line with that of the non-available issuances of issuer(s) forming part of the index. Such investment in issuances of issuer(s) not forming part of the index shall be maximum of 20% of the aggregate portfolio of the Debt ETF/Index Fund. (e) The rationale for any deviation from para 2(a) above shall be recorded. 3. In an event where the credit ra .....

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Norms for Debt Exchange Traded Funds (ETFs)/Index Funds - SEBI

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..... x Funds within a period of three months from the date of issuance of this circular. b) All the Debt ETFs/Index Funds where SEBI has issued final observations on the Scheme Information Document, but have not yet been launched: The issuers shall submit the compliance status vis-à-vis these norms to SEBI before launching such Debt ETFs/Index Funds. c) The above norms shall not be applicable to Debt ETFs/Index Funds tracking debt indices having constituents as Government Securities (GSecs), T .....

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Norms for Debt Exchange Traded Funds (ETFs)/Index Funds - SEBI

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