Investment Valuation Norms for Mutual Funds - SEBI - MFD/CIR.No 23/066/2003

CHIEF GENERAL MANAGER MUTUAL FUNDS DEPARTMENT MFD/CIR.No 23/066/2003 March 7, 2003 All Mutual Funds Registered with SEBI Unit Trust of India I Association of Mutual Funds in India (AMFI) Dear Sirs, Sub : Investment Valuation Norms for Mutual Funds As you are aware, Eighth Schedule to SEBI (Mutual Funds Regulations), 1996 lays down the parameters for valuation of securities. Further, vide circulars dated September 18, 2000, March 28, 2001 and February 20, 2002, SEBI has prescribed detailed guidelines for valuation of securities. After considering the representation from AMFI, it has now been decided that all mutual funds shall provide transaction details of various types of debt securities like NCDs, Mibor linked floaters and CPs on daily basis in the prescribed format to the agency recommended by AMFI. Submission of data would help in daily matrix generation, would improve uniformity and accuracy of valuation in the mutual funds industry. The format for providing data is enclosed. This circular effective immediately is issued under Regulation 77 of SEBI (Mutual Funds) Regulations, 1996. Yours faithfully, P.K. Nagpal ANNEXURE Date Of Tran- saction Cou- pon Secu- rity Name Secu- rity Type Stag- gered Rede- mption/ Matu- rity Dates Stag- gered Rede- mption /Matu- rity Val- ues Rat- ing Put/ Call Op- tion Dates Put/ Call Op- tion Val- ues Inte- rest Pay- ment Dates Vol- ume (in Rs. Crs) Clean Price YTM (Annu- alised) NCD Mibor Lin- ked CP