MUTUAL FUNDS
ICICI Pru AMC announces change in physical settlement of contracts under Multi Asset Fund
Jul-03-2020

Pursuant to SEBI Circular No: SEBI/HO/IMD/DF2/CIR/P/2020/96 dated June 05, 2020 regarding Participation of Mutual Funds in Commodity Derivatives Markets, ICICI Prudential Asset Management Company (AMC) has announced change in ICICI Prudential Multi-Asset Fund (‘the Scheme’) with respect to physical settlement of contracts. Revised Provision: The Scheme may hold the underlying goods in case of physical settlement of Exchange Traded Commodity Derivatives (ETCDs) contracts. In such cases, mutual funds shall dispose of such goods from the books of the scheme, at the earliest, not exceeding the timeline below.  For Gold and Silver: 180 days from the date of holding of physical goods. For other goods (other than Gold and Silver): a) By the immediate next expiry day of the same contract series of the said commodity.  b) However, if Final Expiry Date (FED) of the goods falls before the immediate next expiry day of the same contract series of the said commodity, then within 30 days from the date of holding of physical goods.  As per SEBI (Mutual Funds) Regulations, 1996, ‘goods’ shall mean the goods notified by the Central Government under clause (bc) of section 2 of the Securities Contracts (Regulation) Act, 1956 and forming the underlying of any commodity derivative.

All other provisions of the SID and KIM of the Scheme except as specifically modified herein above remains unchanged.

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