News From Press Canara Robeco MF temporarily halts inflows from UAE-based investors

Canara Robeco MF temporarily halts inflows from UAE-based investors

Source: Mint Jun 29, 2022

Canara Robeco Mutual Fund has temporarily halted investments including existing SIPs (systematic investment plan) and STPs (systematic transfer plan) from its investors in UAE. The AMC has put out a note on its website.

This was done after the Financial Action Task Force (FATF) added UAE to the ‘Grey List’. The fund house is internally reviewing its processes to establish enhanced due diligence for investment flows from UAE and will then revert to its investors.

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