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Circular on Mutual Funds - SEBI - SEBI/HO/IMD/DF2/CIR/P/2020/175

Extract

..... of purchase of units of mutual fund schemes (except liquid and overnight schemes), closing NAV of the day shall be applicable on which the funds are available for utilization irrespective of the size and time of receipt of such application. 1.2. The existing provision on NAV applicability for liquid and overnight funds and cut-off timings for all schemes shall remain unchanged. 2. Trade Execution and Allocation 2.1. It has been decided that AMCs shall put in place a written down policy which in .....

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Circular on Mutual Funds - SEBI

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..... allocation limits as specified in SID shall be in-built in the OMS to ensure that orders in breach of such limits are not accepted by the OMS. AMCs may further place soft limits for internal control and risk management based on its internal policy. Further, any change in limits specified in OMS shall be subject to the approval of Compliance and Risk Officer. d) All orders of fund manager(s) shall be received by dedicated dealer(s) responsible for order placement and execution. e) The internal po .....

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Circular on Mutual Funds - SEBI

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..... tiple schemes. The trade allocation policy of the AMCs shall inter-alia detail (i) specific situations (not generic) wherein the orders by dealers shall be placed for each scheme individually or pooled from multiple schemes, (ii) the timeline to be considered for pooling of orders in case of multiple schemes. c) In case of pooled orders, post allocation of trades shall be on pro-rata basis as per the size of the order placed. The said allocation shall be based on weighted average price. The poli .....

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Circular on Mutual Funds - SEBI

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..... . Further, there should be time stamping with respect to order placed by fund manager, order placed by dealer, order execution and trade allocation. 2.3.3. Any non-compliance and all material information in this regard shall be reported to trustees on quarterly basis. Trustees shall inform the same to SEBI in their half yearly trustee report. 3. Applicability: The circular shall be applicable with effect from January 1, 2021. 4. This circular is issued in exercise of powers conferred under Secti .....

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Circular on Mutual Funds - SEBI

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