Sebi unveils new MF, IPO norms
The regulator on Thursday announced new guidelines for mutual funds and IPOs to ease redemption pressure. Under the new mutual fund norms, there would be no early exit on close-ended mutual fund schemes and instead all the close-ended MF schemes will have to be listed. The latest norms are applicable for new mutual fund schemes only. Welcoming the move AP Kurien, chairman of AMFI, a trade body for mutual funds, said Sebi's decision was in line with its recommendations.
