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18 Mar 2012 07:10 PM
AMCs seek clarity from SEBI on debt valuation norms 
Pallabika Ganguly
 

In the interim, each AMC will follow a fair valuation policy approved by its board.

Debt 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

“We 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.

 
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