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ARTICLE · 11 SEPTEMBER 2024

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JSA Advocates & Solicitors
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To enhance ease of doing business, SEBI, vide circular dated April 30, 2024, modified certain provisions of the Master Circular for MFs dated May 19, 2023.

IndiaCorporate/Commercial Law
Dheeraj Nair
Dheeraj Nair
Divyam Agarwal
Divyam Agarwal
Gerald Manoharan
Gerald Manoharan
Madhurima Mukherjee
Madhurima Mukherjee
Probir Roy Chowdhury
Probir Roy Chowdhury
Sajai Singh
Sajai Singh
Shivpriya Nanda
Shivpriya Nanda
Soumitra Majumdar
Soumitra Majumdar
Tony Verghese
Tony Verghese
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Appointment of fund manager for MF schemes investing in commodities and overseas securities

To enhance ease of doing business, SEBI, vide circular dated April 30, 2024, modified certain provisions of the Master Circular for MFs dated May 19, 2023. The key modifications are as follows:

  1. for commodity-based funds, appointment of a dedicated fund manager is optional;
  2. the requirement to appoint a dedicated fund manager for making the prescribed overseas investments is optional; and
  3. in case where a person is appointed as a fund manager, he should have adequate expertise and experience to manage investments in commodities market or in overseas securities, as the case may be; and the board of the asset management companies will be responsible to ensure compliance and reporting regarding the same to the trustees, on a periodic basis.

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