Review of provision regarding segregation of portfolio due to the COVID - 19 pandemic

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..... FI) Sir / Madam, Subject: Review of provision regarding segregation of portfolio due to the COVID - 19 pandemic. 1. In terms of the SEBI circular No. SEBI/HO/IMD/DF2/CIR/P/2018/160 dated December 28, 2018 , segregated portfolio can be created in a Mutual Fund scheme by AMC in case of a credit event, which includes downgrade to below investment grade and subsequent downgrades in credit .....

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..... e same as a default event and/or recognize default. 4. Considering the above and in partial modification to aforementioned circular dated December 28, 2018 , the date of proposal for restructuring of debt received by AMCs shall be treated as the trigger date for the purpose of creation of segregated portfolio. 5. Such proposal of restructuring of debt received by AMCs shall be immediately r .....

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..... is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 , read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996 , to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, Lamber Singh Deputy General M .....

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