Securities and Exchange Board of India (Sebi) today issued detailed guidelines for the proposed capital protection schemes by mutual funds.Asset management companies (AMCs) have been asked to clearly mention in their advertisements that such schemes are "oriented towards protection of capital" and "not with guaranteed returns."Under the guidelines, the trustees should continuously monitor the structure of the portfolio of the capital protection-oriented scheme. The trustees are also required to report the same in the half-yearly trustee report.The AMC should also report about the same in the bi-monthly compliance test report, Sebi said.
