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Sunday 22 September 2019

SEBI Circular dated 20th September'19 on Liquid Funds

SEBI Circular dated 20th September'19 on Liquid Funds

1. Liquid  funds  shall  hold  at  least  20%  of  its  net  assets  in  liquid  assets.  For  this purpose,  ‘liquid  assets’  shall  include  Cash,  Government  Securities,  T-bills  and Repo  on  Government  Securities.   - Effective date 1st April 2020

2. Liquid and Overnight  Funds  shall  not  park  funds  pending  deployment  in short term  deposits  of  scheduled  commercial  banks, shall  not  invest  in  debt  securities  having structured  obligations and/  or  credit  enhancements  - Immediate effect for fresh Invts

3. Exit load period of 7 days for liquid funds - applicable for investments made 30 days from date of circular and not for investments already done before that date. Awaiting clarity on graded exit load.

4. The  cut-off  timings  for  applicability  of  Net  Asset  Value  (NAV)  in  respect  of purchase  of  units  in  liquid  and  overnight  funds  shall  be  1:30  p.m.  instead  of 2:00  p.m. - effective 30 days from now.
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