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Lower fee for mutual funds filed on/after July 1: SEBI

Agencies
Posted: Wednesday, Jul 08, 2009 at 1450 hrs IST
Updated: Wednesday, Jul 08, 2009 at 1450 hrs IST

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Mumbai: Market regulator SEBI clarified that the revised filing fee for offer documents of mutual funds will be applicable to those schemes registered with the market regulator on or after July 1.

"It is clarified that the revised filing fee would be applicable to those scheme(s) whose scheme information document(s) has been filed with SEBI on or after July 1, 2009," the regulator said in a circular.

On June 18, the Securities and Exchange Board of India in its meeting had amended the SEBI (Mutual Funds) Regulations, 1996, cutting the filing fee for offer documents to 0.002 per cent from 0.005 per cent of the amount raised in the new fund offer, subject to a minimum of Rs 1 lakh and a maximum of Rs 50 lakh.

SEBI informed mutual funds, asset management companies (AMC) and the Association of Mutual Funds in India (AMFI) about the clarification related to the filing fee.

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