India Regulator:Mutual Fund Units Can Be Bought,Sold Via Bourses
MUMBAI -(Dow Jones)- India's capital markets regulator said Friday units of
mutual fund schemes can be bought and sold on stock exchanges and asked the
bourses to frame detailed guidelines to facilitate such transactions.
The move is aimed at enhancing the reach of mutual fund schemes to more towns
and cities, the Securities and Exchange Board of India said in a notice sent to
all fund houses and stock exchanges and posted on its Web site.
The regulator said infrastructure for secondary market transactions is already
available in 1,500 towns and cities through more than 200,000 stock exchange
terminals, and this can be used for buying and selling mutual fund schemes.
It added that stock exchanges and fund houses may later improve the mechanism
in the interest of investors.
-By Shikhar Balwani, Dow Jones Newswires; +91 22 6145 6123; shikhar.balwani@
dowjones.com
(END) Dow Jones Newswires
11-13-090853ET
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