Appointment of a Dedicated Fund Manager for Commodity-based Funds Shall Be Optional | SEBI Clarifies
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- Last Updated on 2 May, 2024
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Circular No. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2024/30; Dated: 30.04.2024
SEBI has modified Clause 3.3.11 of the Master Circular for Mutual Funds dated May 19, 2023 regarding the appointment of a dedicated fund manager. SEBI has clarified that appointment of a dedicated fund manager shall be optional for commodity-based funds such as Gold ETFs, Silver ETFs and other funds participating in the commodities market. However, the person appointed as a fund manager for such funds must have adequate experience in managing investments in the commodities market.
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