SUBSCRIBE NEWSLETTER
  • Change Language
  • English
  • Hindi
  • Marathi
  • Gujarati
  • Punjabi
  • Tamil
  • Telugu
  • Bengali
  • MF News RGESS NFOs to be open for subscription for 30 days: SEBI

    RGESS NFOs to be open for subscription for 30 days: SEBI

    SEBI has relaxed the new fund offer norms for Rajiv Gandhi Equity Savings Scheme.
    Team Cafemutual Feb 7, 2013

    SEBI has relaxed the new fund offer norms for Rajiv Gandhi Equity Savings Scheme.

    SEBI has extended the new fund offer period for Rajiv Gandhi Equity Savings Scheme (RGESS) to thirty days from the current fifteen days which is applicable to all schemes except ELSS. It has also extended the timeframe for MFs to allot units and issue account statements to RGESS investors to fifteen days from the current requirement of five days.  

    As per SEBI rules, the new fund offer period of any scheme (other than ELSS) shall not be more than fifteen days. SEBI rules also require fund houses to allocate units to investors and issue statement of accounts within five working days from the date of closure of NFO.

    RGESS is expected to be formally launched by finance minister P Chidambaram on February 9.

    Click here to read the circular.

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

    Click to clap
    Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.
    0 Comment
    Be the first to comment.
    Login or Sign up to post comments.
    More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

    Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.