Page 20 - Banking Finance December 2024

MUTUAL FUND

aged by Gaurav Chopra and Sanjay and influence to become the first port of unintended regulatory arbitrage
Bembalkar. The maximum total ex- of call for investors. We offer a com- that may arise due to different valua-
pense ratio (TER) permissible under prehensive range of services across tion methodology adopted.
Regulation 52 (6) (c) (i) and (6) (C), as Mutual Funds, Portfolio Management
The new framework will come into ef-
applicable is upto 2.25%. Services, Alternative Investment fect from January 1, 2025, the Securi-
Funds, Offshore Funds, and GIFT City, ties and Exchange Board of India (Sebi)
SBI Funds Management catering to Retail, High Net Worth In- said in its circular.
dividuals, Corporates, and Institutional
appoints Nand Kishore as Investors," said Nand Kishore. In its circular, Sebi said it has decided

Managing Director & CEO "As I embark on this new journey, I am that the "valuation of repurchase
(repo) transactions including TREPS
SBI Funds Management has an- confident that our team at SBI Funds with tenor of up to 30 days shall also
nounced the appointment of Nand Management Limited will continue to be valued at mark to market basis".
Kishore as Managing Director and achieve new milestones and serve our
Chief Executive Officer. stakeholders with dedication," he added. At present, repo transactions including
tri-party repo (TREPS) with tenor of up
Nand Kishore, Deputy Managing Direc- to 30 days are valued on cost-plus ac-
tor of State Bank of India, takes over Sebi introduces mark-to- crual basis.
as the Managing Director and Chief market basis valuation for
Executive Officer of SBI Funds Manage- Further, the valuation of all repo trans-
ment from Shamsher Singh. repo transactions by mu- actions, except for overnight repos, in
addition to the valuation of money
Prior to his current deputation at tual funds market and debt securities, will be
SBIFM, Kishore served as Deputy Man- Markets regulator Sebi decided to in- obtained from valuation agencies.
aging Director (Global Markets) at troduce new valuation metrics for re-
SBI's Corporate Centre in Mumbai, purchase or repo transactions by mu- Motilal Oswal Mutual
where he oversaw the bank's treasury tual funds, whereby securities used in
operations. such transactions will be valued on a Fund launches Nifty Capi-
"I am honoured to join SBI Funds Man- mark-to-market basis. The new valua- tal Market Index Fund
agement Limited and lead the largest tion metrics are aimed at having uni- Motilal Oswal Mutual Fund has
fund house in the country. Our goal is formity in valuation methodology of all launched Motilal Oswal Nifty Capital
to not just be a market leader but a money market and debt instruments Market Index Fund, an open-ended
market maker, expanding our reach as well as at addressing the concerns fund replicating/tracking the Nifty
Capital Market Total Return Index.
Bandhan Mutual Fund launches Nifty 200 Quality 30 The new fund offer or NFO of the
scheme is open for subscription and
Index Fund will close on December 10. The scheme
Bandhan Mutual Fund has launched Bandhan Nifty 200 Quality 30 Index will reopen for continuous sale and
Fund, an open-ended scheme tracking Nifty 200 Quality 30 Index. repurchase on December 20.
The new fund offer or NFO of the scheme is open for subscription and will The investment objective of the
close on November 29. The scheme will reopen for continuous sale and scheme is to provide returns that, be-
repurchase on December 5. fore expenses, correspond to the total
returns of the securities as represented
The investment objective of the scheme is to replicate the Nifty 200 Quality by Nifty Capital Market Total Return
30 Index by investing in securities of the Nifty 200 Quality 30 Index in the Index, subject to tracking error.
same proportion / weightage with an aim to provide returns before expenses
that track the total return of Nifty 200 Quality 30 Index, subject to tracking The performance of the scheme will be
errors. benchmarked against Nifty Capital
Market Total Return Index and will be
The scheme will be benchmarked against Nifty 200 Quality 30 Index. The managed by Swapnil Mayekar and
scheme will be managed by Nemish Sheth. Rakesh Shetty.

18 | 2024 | DECEMBER | BANKING FINANCE