Mutual funds foreign investment 

MFs give FEMA reporting amiss, await govt clarity

Mutual funds foreign investment 

Mutual funds have to adhere to restrictions applicable to foreign investment 

None of the foreign owned or controlled mutual funds (MFs) have fulfilled their reporting obligations as mandated by the new Foreign Exchange Management Act (FEMA) norms notified a month ago, pending clarity from the government on the issue.

Fund houses have decided to maintain status quo following assurances from the Securities and Exchange Board of India (Sebi) as well as custodians that the guidelines impacting MFs would be amended soon.

 

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References

The Business Standard
Business Standard.indiatimes.com