News From Press MF’s bad decisions can’t curb redemptions

MF’s bad decisions can’t curb redemptions

Source: Livemint Jun 2, 2016

Taking a cue from the redemption fiasco that unfolded at JP Morgan Asset Management (India) Pvt. Ltd last year, the Securities and Exchange Board of India (Sebi) has said that fund houses will not be allowed to restrict redemptions for amounts up to Rs.2 lakh. The circular, which was issued on 31 May, also gave details on the circumstances under which fund houses will be allowed to restrict redemptions. These rules will be effective for all existing schemes from 1 July.

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