There will be no impact of nationwide lockdown on the mutual fund industry.
In a notification, SEBI has clarified all the SEBI registered intermediaries which include AMCs and RIAs are exempted from the nationwide lockdown and will have to remain operational.
However, the market regulator has clarified that fund houses and RIAs can remain operational with minimum employee strength.
A senior official from a RTA said that they are evaluating whether remaining operational means allowing physical transactions also. “We are doing everything like publishing NAV, honouring standing instructions and so on except honouring physical transaction. We are in talks with AMFI to finalize this.”
From Monday, AMFI has asked fund houses to honour only online transaction in mutual funds to encourage social distancing.
With the new SEBI guidelines, fund houses may have to facilitate physical transaction to investors to remain completely operational.
