Providing more time to comply with its new norms for monthly disclosure of their assets, Sebi has allowed mutual fund houses to disclose these details for the month of March 2014 till April 14.
As per earlier directions these disclosures were to be made till April 7.
With the norms coming into force only recently, the fund houses have been given extra time for the first month, according to a communication send to them by Securities and Exchange Board of India (Sebi).
As part of long term policy, mutual fund houses are required to make disclosures about average assets under management on a monthly basis.
The capital market regulator, in a circular on March 24, had directed MF players to disclose details such as Asset Under Management from different categories of schemes, from places beyond top-15 cities, contribution of sponsor and its associates in AUM.
The new framework relates to enhancing the reach of MF products, promoting financial inclusion and obligation of various stakeholders, among others.
Fund houses are required to make disclosures on their websites and share the same with Association of Mutual Funds of India (AMFI).
