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 Markets - Mutual Funds
SEBI to re-look at MF trustee's role

Our Bureau

Mumbai, Nov 9

The trustee of a mutual fund cannot function on the board of an asset management company (AMC) of another mutual fund. Capital market regulator SEBI proposes to amend the SEBI (Mutual Fund) Regulations in this regard. According to SEBI, trustees are privy to information pertaining to the conduct of business by the asset management company. The role of independent trustees is crucial to avoid conflicts of interest in a mutual fund.

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