Yes, NRI can invest in Mutual funds through the various schemes offered by the Scheme offer document.
Mutual Funds Company Registration
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Open Ended Mutual Fund
Fixed maturity plans and capital protection. This type of Mutual Fund does not have any lock-in period or maturities and is always open for investments and redemptions. It is beneficial if the investor is looking for liquidity of funds.
Closed Ended Mutual Funds
Here the mutual funds have a specified lock-in period where the investor can opt for a closed-ended scheme only during the New Fund Offer period, which can be redeemed only after the maturity of the lock-in period.
Interval Mutual funds
Allows investors trading of units at a pre-defined interval. This type of fund provides the advantages of both the above-mentioned funds and maintains a balance between them.
- Filling the application
- Submission of necessary documents along with the payment of requisite fees
- The next step is the scrutinization of the whole application, which would include the verification of the application form and the documents.
- The Board shall issue the certificate of Registration after being satisfied with the application and documentation.
- The promoters of the company must have a sound reputation for integrity and fairness in their experience and must have a clean image in the business sector.
- The applicant must have prior experience of giving financial services for more than 5 years. The net worth of the applicant must be positive for all those years.
- The net worth of the Asset management company must have 40% contribution from the sponsor.
- The promoters must not have been found guilty of fraud or have been convicted in any case involving moral turpitude.
- The promoters of the company must appoint a trustee to the mutual fund company.
- Appointment of AMC for managing the funds and operations must be done prior to application for registration. The net worth of such AMC should be at least 5 crores.
- The mutual fund must get registered as a trust under the Trust Act 1882.
- The memorandum shall state objects that will authorize the sponsor company to continue activities of the mutual funds.
- We help businesses to understand their obligations and ensure that they are in compliance with all applicable rules and regulations.
- Conduct audits and reviews of mutual fund operations to ensure that they are compliant with all applicable rules and regulations. This includes reviewing investment portfolios, accounting records, and internal controls.
- Provide assistance with specific compliance tasks, such as drafting and reviewing compliance policies and procedures, developing and implementing compliance programs, and conducting training for employees on compliance requirements.
- Assist mutual fund companies prepare and file their annual returns with SEBI.
- Providing advice on new and emerging regulatory requirements.
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COO at VSERV Infosystems & Founder VSERV Academy
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Abhishek M R
Managing Director AMR FINANCE PVT LTD
Mr. Manish, as our Virtual CFO, has been instrumental in propelling our business to spontaneous growth. His expert guidance and strategic insights have transformed our financial landscape, paving the way for remarkable success.
Ajay Kumar
Founder & CEO - Eagabriz Shipping Pvt Ltd
The AMC that works under the mutual fund company is responsible for managing the funds of investors by making investments in different types of securities.
Mutual funds are of three types:
Close Ended: Fixed maturity plans and capital protection.
Open-Ended: Money market/liquid, Equity/growth funds. Index scheme, sectorial scheme, Tax saving schemes, balanced funds.
Interval Mutual funds: Allows investors trading of units at a pre-defined interval.
An applicant shall apply Form A as per SEBI Schedule I (Mutual Fund) Regulations, 1996 with a non-refundable fee of INR 5 Lakh.
The board informs about the discrepancies (if any) within 21 days from the receipt of the application; hence the registration shall depend on the accuracy of the application submitted by the applicant.
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