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SEBI, vide circular dated April 30, 2024, has amended the master circular for mutual funds dated May 19, 2023. Some of the key changes are as follows:
- the requirement to appoint a dedicated fund manager for making the prescribed overseas investments by schemes is now optional (earlier this was not optional); and
- in case where a person is appointed as a fund manager for commodity based funds and for making prescribed overseas investment, the board of the Asset Management Companies will be responsible for: (a) ensuring that the person appointed should have adequate expertise and experience to manage investments in commodities market, and (b) reporting the same to the trustees, on a periodic basis.
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