New Delhi, Sep 13
Association of Mutual Funds in India (AMFI) on Saturday hailed the regulatory changes introduced by the Securities and Exchange Board of India (Sebi), simplifying norms for IPO and foreign portfolio investors.
The reclassification of REITs as ‘equity’ for mutual fund investments is also a timely step that will enhance diversification opportunities and support the growth of real estate as an investible asset class, Chalasani added.
Under the new norms, companies with a market capitalisation of Rs 50,000 crore to Rs 1 lakh crore will now get more time to meet the public shareholding requirements.
The new SWAGAT-FI framework, which offers 10-year registrations, a single demat account, and exemptions from the FVCI rule requiring 66 per cent of corpus in unlisted equity, will benefit sovereign wealth funds and pension funds.