The Securities and Exchange Board of India (SEBI) will take at least six months to let mutual funds invest in commodities. SEBI has just completed two rounds of initial discussions with asset management companies on direct exposure to commodities. Outgoing SEBI Chairman UK Sinha had said that mutual funds would be able to trade in commodities in a couple of months. “It will take a minimum of six months before the regulator takes a decision on the proposal (allowing mutual funds to trade in commodities),” a source familiar with the development told Moneycontrol.