perpetual bonds: MFs may stay away from perpetual bonds in long run

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If an issuing firm doesn’t train the scheduled name choice, the perpetual bonds will likely be valued as a 100-year paper.

Synopsis

Sebi on Monday eased the norms for valuation of perpetual bonds by mutual funds after the finance ministry’s intervention to ease the issues of the bond market and the asset managers over the principles. Mutual fund schemes holding perpetual bonds will now need to worth these securities beneath maturities as much as 30 years in a phased method till March 31, 2023.

Mumbai: Mutual funds, hitherto main consumers of perpetual bonds, may stay away from shopping for new issuances or current papers that might have a name maturity past March 2023 after the Securities and Exchange Board of India’s revised pointers nonetheless left a niche between the prompt and market valuations of those devices.

“New perpetual bond points must search a brand new set of consumers as mutual funds may stay away from extra purchases

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