Business Today

Nod for realty mutual funds

SEBI (Securities& Exchange Board of India) has finally given the go-ahead to real estate mutual funds (REMFs), though with some riders.

     Print Edition: May 18, 2008

SEBI (Securities& Exchange Board Of India) has finally given the go-ahead to real estate mutual funds (REMFs), though with some riders. In its guidelines for REMFs, the regulator has mandated that at least 35 per cent of the corpus should be invested directly in real estate assets while the rest can be put in mortgage-backed securities and instruments of companies in the sector.

All schemes will be close-ended and the units listed on the stock exchanges. As an investor-friendly measure, SEBI has ruled that the NAVs of the funds should be disclosed daily.

Rishi Joshi

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