Indian regulator asks fund managers to stop investing in overseas ETFs
India’s markets regulator has requested the nation’s asset managers to end inflows into schemes that make investments in in one other nation alternate traded funds (ETFs) from April 1, according to a document seen by Reuters.
The Affiliation of Mutual Funds in India (AMFI) despatched out an electronic mail to asset managers leisurely on Wednesday informing then of the directive.
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The electronic mail didn’t give a motive. India imposes a restrict of $1 billion on mutual funds to make investments in in one other nation ETFs. Public disclosures show conceal that Indian mutual funds are shut to breaching that restrict.
The Securities and Trade Board of India (SEBI) and AMFI didn’t straight away acknowledge to Reuters requests for shriek.
Source: Reuters
