 "U K Sinha")
The Securities and Exchange Board of India (Sebi) on Friday advised mutual fund houses to rely on their own risk assessment while investing in debt paper, rather than depending on the ratings assigned by rating agencies.
“They (MFs) must have their own research on various investments and we are likely to come out with more guidelines on sectoral as well as company-specific exposures,” said Sebi Chairman U K Sinha on the sidelines of a summit on corporate governance organised by Excellence Enablers, an organisation run by former Sebi chairman M Damodaran.
The issue assumes importance in the wake of redemption crisis in two debt schemes of JPMorgan mutual fund.
