 "sebi")
The Securities and Exchange Board of India (Sebi) on Tuesday re-iterated that mutual fund (MF) players need to strengthen their in-house risk-management practices, instead of relying heavily on credit rating agencies.
The market regulator is probing the role of rating agencies in the IL&FS fiasco. The rating agencies had assigned AAA rating to IL&FS, which indicates the highest grade of credit worthiness.
While speaking at the CII Mutual Fund Summit 2018, S V Muralidhar Rao, executive director of Sebi, explained the rationale behind allowing ‘side-pocketing’ or segregated portfolio. “We analysed some aspects and found that there are some inherent benefits of this
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