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SEBI lays guidelines for MFs with respect to Ind AS

Under the guidelines, mutual fund schemes will have to prepare the opening balance sheet as on date of transition and the comparatives as per the requirements of Ind AS, Sebi said in a circular.

February 04, 2022 / 08:08 PM IST
SEBI | Image: Shutterstock

SEBI | Image: Shutterstock

Capital markets regulator Sebi on Friday came out with guidelines for asset management companies (AMCs) with respect to following Indian Accounting Standards (Ind AS).

This comes after Sebi amended mutual fund rules which mandated AMCs to prepare the financial statements and accounts of the mutual fund schemes in accordance with Ind AS, with effect from April 1, 2023.

Under the guidelines, mutual fund schemes will have to prepare the opening balance sheet as on date of transition and the comparatives as per the requirements of Ind AS, Sebi said in a circular.


As per mutual fund rules, perspective historical per unit statistics requires disclosure of scheme wise per unit statistics for the past three years.


In this regard, Sebi said mutual fund schemes may not be mandatorily required to restate the previous years published perspective historical per unit statistics as per requirement of Ind AS for the first two years from first time adoption of Ind AS.