Deutsche AMC maintains that their schemes meet SEBI as well as their own stringent internal guidelines
Mumbai: Deutsche AMC denies any violation of MF norms while a media report carried by Mint stated that SEBI has whacked two MF firms - BNP Paribas and Deutsche AMC for violating MF norms as the violation has led to investor losses.
When contacted by Cafemutual, a Deutsche group spokesperson denied such violations and stated, “There has been no violation of any mutual fund regulations by Deutsche Asset Management that has resulted in any losses to the investors in our debt schemes. All our schemes meet SEBI’s, as well as our own stringent internal guidelines."
BNP Paribas did not respond to Cafemutual queries in this matter.
An official spokesperson of SEBI reportedly said to Mint, “We are examining the whole issue.” According to Mint, BNP Paribas paid about Rs. 20 crore and Deutsche paid nearly Rs. 3 crore to the affected investors after SEBI compelled them to do so.
