Capital markets regulator SEBI on Tuesday issued a slight modification to the guidelines for setting up of limited purpose clearing corporation (LPCC).
As per a circular issued by the regulator, the contribution of AMCs will now be based on average AUM of debt schemes for the financial year (FY) 21. SEBI had earlier said that the data for FY20 will be used for the purpose.
On February 2, 2021, SEBI had made it obligatory for AMCs to contribute towards the share capital of LPCC.
“It has been decided that AMCs shall contribute Rs 150 crore towards share capital of LPCC in proportion to the AUM of open-ended debt-oriented mutual fund schemes (excluding overnight, gilt fund and gilt fund with 10-year constant duration but including conservative hybrid schemes) managed by them," the regulator had said in a circular.
The contribution will be based on the average AUM of debt-oriented schemes. AMFI has been tasked by SEBI to calculate the contribution for each AMC.
