NISM-Series V-A: Mutual Fund Certification Exam Notes
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Assets held by the Real Estate Mutual Fund will be valued every 90 days by two valuers accredited by a credit rating agency. The lower of the two values will be taken to calculate the NAV. These funds are closed-end funds and must be listed on a stock exchange.
Mutual funds in India are governed by SEBI (Mutual Fund) Regulations, 1996.The regulations permit mutual funds to invest in securities including money market instruments, or gold or gold related instruments or real estate assets.
Mutual funds are constituted as Trusts. The mutual fund trust is created by one or more Sponsors, who are the main persons behind the mutual fund operation.
The beneficiaries of a mutual fund trust are the investors who invest in various schemes of the mutual fund.
When individuals are appointed trustees for the MF Trust, they are jointly referred to as Board of Trustees. A trustee company functions through its Board of Directors.
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