Sebi caps mutual fund overlap, forces schemes to truly differ

The Securities and Exchange Board of India (Sebi) has overhauled norms on how much mutual fund portfolios can overlap, tightening rules for select schemes and pushing asset managers to meaningfully differentiate products that often looked strikingly similar. In a circular issued on Thursday, the market regulator capped portfolio overlaps at 50% for sectoral and thematic…

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Sebi proposes using T-1 NAV as base price for ETFs

India’s markets regulator has proposed replacing the T-2 day closing net asset value (NAV) used as the base price for exchange-traded funds (ETFs) with a more current T-1 NAV to remove the one-day lag that can misalign price bands with prevailing market conditions, particularly during periods of volatility. In a consultation paper issued on Friday,…

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