Sebi allows PE funds to become MF sponsors; enhances role, accountability of trustee

In addition, the board of Sebi has decided to permit "Self Sponsored AMCs" to continue the mutual fund business. This is subject to asset management companies (AMCs) fulfilling certain conditions. The move would give the original sponsor flexibility to voluntarily disassociate itself from the MF without needing to induct a new and eligible sponsor.

Sebi allows PE funds to become MF sponsors; enhances role, accountability of trustee
In addition, the board of Sebi has decided to permit "Self Sponsored AMCs" to continue the mutual fund business. This is subject to asset management companies (AMCs) fulfilling certain conditions. The move would give the original sponsor flexibility to voluntarily disassociate itself from the MF without needing to induct a new and eligible sponsor.