Benchmarks for Debt-Oriented and Balanced Funds Schemes - SEBI - MFD/CIR/01/ 071/02

Circulars CHIEF GENERAL MANAGER MUTUAL FUNDS DEPARTMENT MFD/CIR/01/ 071/02 April 15, 2002 All Mutual Funds registered with SEBI Unit Trust of India Association of Mutual Funds in India (AMFI) Dear Sirs, Sub: Benchmarks for Debt-Oriented and Balanced Funds Schemes. Please refer to SEBI circular No.MFD/CIR/16/400/02 dated March 26, 2002 regarding guidelines for benchmarks in case of equity oriented schemes in order to provide objective analysis of the performance of the mutual funds schemes to the investors. It has now been decided in consultation with AMFI to disclose the performance of benchmarks in case of various types of debt-oriented schemes and balanced fund schemes while publishing half-yearly results by the mutual funds. These benchmarks shall be developed by research and rating agencies recommended by AMFI on a regular basis. Other guidelines as specified in the aforesaid SEBI circular like change in benchmark indices at a later date, giving management perception, review of performance by the AMCs and trustees, reporting of its compliance to SEBI in the quarterly reports of AMCs and half-yearly reports of trustees, shall remain the same. These guidelines are being issued in accordance with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996. Yours faithfully, P.K. NAGPAL