Samco Mutual Fund changes scheme attributes after rap from market regulator

NFO investors given option to exit without load; Fund house to pay 15% interest

Samco Mutual Fund, a new entrant to the Rs 38 trillion asset management industry, has changed attributes of one of its schemes following a rap from market regulator Securities and Exchange Board of India (Sebi).

The fund house launched its first new fund offer for Samco Flexi Cap Fund, pegging it as a 'pure equity scheme'.

However, the  scheme also intended to invest up to 35 per cent in tri-party repo (TREPS) .

Samco MF stated that the market regulator advised it to incorporate clauses explaining the right attributes in the scheme information disclosure (SID).

Since the scheme shall also