Capital markets watchdog Sebi on Monday came out with fresh guidelines on reporting formats for mutual funds.
The formats for the reports to be submitted by asset management companies (AMCs) to trustees, by AMCs to Sebi and by trustees to the regulator have been revised on the basis of consultation from the industry.
In a circular, Sebi said the compliance certificate to be submitted by an AMC to the trustees on a bi-monthly basis and half-yearly basis would be discontinued.
The contents of both these reports have been incorporated in the quarterly report by AMC to trustees, it added.
With regard to quarterly report on activities of mutual funds, Sebi said such report must contain details of number of live schemes as on last day of the quarter-end, schemes launched during the period including schemes which were launched but could not be constituted, details of existing schemes matured or wound up as well schemes merged during the quarter.
For schemes which have been wound up, Sebi said details of payout should be provided during each quarter till the last payout for such schemes. Details of close-ended schemes rolled-over, schemes that underwent fundamental attribute change, clearance received from Sebi to launch new schemes and details of Assets Under Management (AUM) need to be provided in the quarterly report.