Clarification regarding Investor Education and Awareness Initiatives
Clarification regarding Investor Education and Awareness Initiatives.
- Chapter 10 of the SEBI Master Circular dated June 27, 2024 on Mutual Funds (“Master Circular”), which specifies the provisions for loads, fees, charges and expenses charged by Mutual Fund schemes, inter alia requires AMCs to annually set apart at least 2 basis point on daily net assets within the maximum limit of total expense ratio, as per regulation 52 of SEBI (Mutual Fund) Regulations, 1996, for investor education and awareness initiatives.
- In this regard, it is clarified that initiatives under ‘Investor Education and Awareness’ include financial inclusion initiatives, as may be approved by SEBI from time to time.
- This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provision of Regulations 52 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.
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