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TMI BlogGuidelines on Inter Scheme Transfers of SecuritiesX X X X Extracts X X X X X X X X Extracts X X X X ..... to which such transfer has been made. In order to ensure that such Inter Schemes Transfers (ISTs) of securities are in conformity with the above objective, the following additional safeguards have been prescribed: 1. In case of Close Ended Schemes, IST purchases would be allowed within three business days of allotment pursuant to New Fund Offer (NFO) and thereafter, no ISTs shall be permitted to/from Close Ended Schemes. 2. In case of Open Ended Schemes, ISTs may be allowed in the following scenarios: a) For meeting liquidity requirement in a scheme in case of unanticipated redemption pressure: AMCs shall have an appropriate Liquidity Risk Management (LRM) Model at scheme level, approved by trustees, to ensure that rea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Credit Risk scheme, trustees shall ensure to have a mechanism in place to negatively impact the performance incentives of Fund Managers, Chief Investment Officers (CIOs), etc. involved in process of ISTs in Credit Risk scheme, in case the security becomes default grade after the ISTs within a period of one year. Such negative impact on performance shall mirror the existing mechanism for performance incentives of the AMC. 3. No ISTs of a security shall be allowed, if there is negative news or rumors in the mainstream media or an alert is generated about the security, based on internal credit risk assessment in terms of clause F of SEBI Circular No. SEBI/HO/IMD/DF2/CIR/P/2019/104 dated October 01, 2019 during the previous four months. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f ISTs Particular Transferor Scheme Transferee Scheme Category of scheme As per LRM minimum cash cash equivalent required for the scheme Net cash position after projected inflow and outflow Line available and borrowing utilized (record, in case borrowing was not utilized) # Not Applicable Sale proceeds of the securities utilized (record with evidence including screenshot of Request For Quote (RFQ), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Transferee Scheme Category of scheme Pre trade duration of scheme Post trade duration of scheme Interest rate view of Fund Manager Request for Quote (RFQ) screen shot Declaration: 1. IST is in the interest of unit holders. 2. Quality of security under ISTs is not suspect i.e. no adverse news or rumors in the mainstream media about the said security, nor any credit alert for last four months. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Request for Quote screen shot Declaration: 1. IST is in the interest of unit holders. 2. Quality of security under ISTs is not suspect i.e. no adverse news or rumors in the mainstream media about the said security, nor any credit alert for last four months. 3. Fund Manager of transferee scheme confirms that he/she has done full credit risk assessment of security before buying the same through ISTs, and the same is documented. Name and Signature of Fund Managers Name and Signature of Chief Investment officer Name and Signature of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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