Valuation of Debt securities by Mutual Funds

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..... al Funds This is in partial modification of SEBI Circular No. MFD/CIR/8/92/2000 dated September 18, 2000 and MFD/CIR No. 14/442/2002 dated February 20, 2002, which, inter-alia, specified the discount adjustments for debt securities rated by external agencies for ill-liquidity risk, promoter background, finance company risk and issuer class risk. It has been brought to notice of SEBI by AMFI .....

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..... Rated instruments with duration upto 2 years 100 bps 50 bps 500 bps 150 bps Rated instruments with duration over 2 years 75 bps 25 bps 400 bps 100 bps In case of unrated debt securities : Category .....

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..... of the Securities and Exchange Board of India Act, 1992, read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. This circular is available on SEBI website at www.sebi.gov.in, under the category Mutual Funds Circulars . Yours faithfully .....

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