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Sebi proposes swing pricing for MF plans to help ease redemption pressure
Synopsis
Swing pricing is a mechanism by which fund houses can adjust a scheme’s net asset value (NAV) in response to the flows into or out of the fund. It could also reduce the impact of redemptions on existing investors by reducing dilution of the value of a fund’s units. Most developed markets including the US, the UK, France and Hong Kong use the swing pricing mechanism.
Mumbai: The Securities and Exchange Board of India (Sebi) has proposed to introduce the concept of ‘swing pricing’ in mutual fund schemes in a bid to reduce first-mover advantage during redemption pressures in schemes.
Cairn Energy arbitration case: Riders to invoking sovereign immunity
For India to invoke “sovereign” or “state” immunity to safeguard its foreign assets, which are under threat of getting seized in the intensifying legal battle with Cairn Energy, may come with several riders. Experts point out that the Indian government has to first satisfy the French court that the properties or assets that are under consideration are being used to dispense the state’s sovereign functions.
IT minister, Rahul Gandhi, Prashant Kishor among Pegasus targets
The government on Monday denied claims that it had used spyware Pegasus to “compromise” the phone data of some persons but The Wire, the news portal which was a part of the Pegasus project that investigated possible snooping using the Israeli spyware in many countries, published fresh data that revealed IT minister Ashwini Vaishnaw himself was on a long list of people who might have been victims.
Capital Market regulator the Securities and Exchange Board of India (Sebi) and the Directorate of Revenue Intelligence (DRI) are jointly investigating companies belonging to the Adani group for violations of some of the regulations, junior minister for finance Pankaj Chaudhary told the Lok Sabha on Monday.
Minister of State for Finance Pankaj Chaudhary said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms. Sebi is investigating some Adani Group companies with regard to compliance with Sebi regulations, he said without giving details. Also, DRI is investigating certain entities belonging to the Adani Group of Companies under laws administered by it, he said.