In the interim, each AMC will follow a fair
valuation policy approved by its board.
valuation norms were at the top of the agenda at a recent AMFI board meeting. While
AMFI has sought clarity on the recently introduced guideline from SEBI, the
AMFI committee has decided that each AMC would
propose a fair valuation policy to its board which is fair to the customer and to the fund house
have written to SEBI asking for more clarity on fair debt valuation norms. Till
the time SEBI reverts with its detailed procedure, we have zeroed down on a
procedure,” said V. Ramesh, Deputy Chief Executive, AMFI.
AMCs have already initiated action on
this. “We are in the process of drafting
a fair valuation policy to present to the board. Many other fund houses are
also doing the same. As of now, we are to follow this procedure, until there is
more clarity from SEBI,” said a top MF official, requesting anonymity.