Market regulator Securities and Exchange Board of India decided on Wednesday to bring down the costs associated with mutual fund investments, by doing away with the initial issue fee for close-ended schemes.
"This decision of removing initial issue expense will make close-ended mutual fund schemes less expensive for retail investors", Sebi Chairman M Damodaran said while briefing reporters after the board meeting.
The Sebi board also cleared the draft proposal for listing of debt securities, ease disclosure norms for existing debt market securities and paved the way for permanent registration of capital market intermediaries.
Replying to questions on introduction of short-selling by institutional investors, Damodaran said, "It would be introduced in the first week of February if not on February 1." The regulator had already introduced shot-selling by retail
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