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mutual funds

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(Querist)
06 February 2008 The price band for the sale price and repurchase price as per SEBI Regulations 1996 is as follows where,
a) sale price should not be higher than 107% of NAV,
b)repurchase price should not be lower than 93% of NAV, and
c)difference between sale price and repurchase price calculated on sale price should not exceed 7%.

Is there any change in this rule???
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Abhinav Khemani

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Abhinav Khemani (Expert)
19 February 2008 Dear Rashmi,

First of all let me tell you that this is not a price band rather we can say that this is a band for Entry and exit loads that is charged by the mutual fund when we invest and redeem in a mutual fund scheme.

There is no change in this rule and this rule implies that maximum entry/exit load whic a mutual fund can charge is 7%. However, this rule is applicable for open-ended scheme only.

For close ended schemes there is separate band i.e. repurchase price shall not be lower than 95% of the NAV.

Feel free to ask me any type of query on Mutual Funds.

Regds
Abhinav Khemani
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