Sebi introduces mechanism for SIF monitoring
Besides, a notice of 30 calendar days would be given to such investors to rebalance the investments in order to comply with the threshold. "In case an investor rebalances his/her investments in SIF within the notice period of 30 calendar days, the units of SIF of such investor shall be unfreezed, and no further action shall be taken with regard to compliance with minimum investment threshold," Sebi said in its circular.
If the investor fails to rebalance the investments within a 30 calendar day period, the frozen units will be automatically redeemed by the AMC, at the applicable Net Asset Value.
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