Market regulator Sebi has notified regulations that allowed mutual funds to accept investors' money in new plans under the Rajiv Gandhi Equity Savings Scheme (RGESS) for 30 days, as against a 15-day subscription period allowed for other schemes.
The relaxation has been made only for mutual fund schemes under RGESS, a government initiative aimed at attracting small investors into the capital market.
In a circular dated 19 June, Sebi that the subscription period or the window for which a new fund offer (NFO) of a mutual fund scheme remains open has been extended to 30 days.Generally, an NFO remains open for a period of 15 days.
The relaxation has been made only for mutual fund schemes under RGESS, a government initiative aimed at attracting small investors into the capital market.
In a circular dated 19 June, Sebi that the subscription period or the window for which a new fund offer (NFO) of a mutual fund scheme remains open has been extended to 30 days.Generally, an NFO remains open for a period of 15 days.