Gazette Notification dated July 23, 2001

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..... ments in index fund or sector or industry specific scheme). Further, Clause 11 provides that a mutual fund scheme can invest upto 5% of its NAV in the unlisted equity shares or equity related instruments in case of open ended scheme and upto 10% of its NAV in case of close ended scheme. It is hereby clarified that within the above mentioned limits, mutual fund schemes can also invest in the listed or unlisted securities or units of venture capital funds, as the case may be. 3. Payment of Volatility margin by the Mutual Funds In terms of SEBI Circular No. SMDRP/Policy/Cir-35/98 dated December 04,1998 issued to stock exchanges read with Press Releases PR 38/2001 and 38a/2001 both dated March 05, 2001, it is mandatory for all brokers to col .....

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..... a quarterly basis in accordance with guidelines issued by the Board." (2) in regulation 53, in clause (a), for the words "42 days" the words "30 days" shall be substituted. 3. in regulation 59 - (a) for the words "two months", the words "one month" shall be substituted. b. the following words, "The half-yearly results must be printed in at least 7 point Times Roman with proper spacing for easy reading:" shall be added after 'mutual fund is situated'. 3. For Twelfth Schedule, the following shall be substituted, namely: "TWELFTH SCHEDULE SECURITIES AND EXCHANGE BOARD OF INDIA (MUTUAL FUNDS) REGULATIONS, 1996 [Regulation 59] HALF YEARLY FINANCIAL RESULTS FOR THE P .....

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..... Income/Debts [Rs. in Crores] 9 Payments to associate/group companies (if applicable) [Rs. in Crores] 10 Investments made in associate/group companies (if applicable) [Rs. in Crores] Considering movement of NAV during the half-year and after adjustment of dividend, bonus, etc. ** For the calculation of compounded annualised yield, the procedure specified in Standard Offer Document shall be followed. All performance calculations shall be based only on NAV and the payouts to the unitholders. The calculation of returns shall assume that all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. The type of plan/option of the scheme for which yield is given shall also be mentioned. Notes: 1 .....

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