The Pension Funds Regulatory and Development Authority (PFRDA) has released fresh guidelines on the valuation of securities in which pension funds in the National Pension System (NPS) can invest.
In a key change, the valuation of a debt security which does not have a market price on a particular day will be done using a more stringent, scrip-level method than the earlier valuation matrix. The new rules will be implemented from 1 December 2019.
