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MF participation in voting to be scrutinised: Sebi

The regulator also increases the limit that debt schemes of mutual funds can invest in housing finance companies

MF participation in voting to be scrutinised: Sebi

Toencourageassetmanagementcompanies(AMCs)tovoteonimportantcompanydecisionsandbeanactivevoicefortheretailinvestor,theSecuritiesandExchangeBoardofIndia(Sebi)onTuesdaydirectedthemtoappoint‘scrutinisers’,whowillreviewtherationaleofvotingrightsexercisedbythem. Inalettersenttoallfundhouses,Sebisaid:“Onanannualbasis,AMCsshallberequiredtoobtaincertificationonthevotingreportsbeingdisclosedbythem.Suchcertificationshallbeobtainedfromascrutiniser.” TheboardofAMCsandTrusteesof ...