UNDERWRITING  :

Regulation 46 permits mutual funds to enter into underwriting agreement after obtaining a certificate of registration in terms of SEBI Underwriters Rules and SEBI Underwriters Regulations. The Underwriting obligations will be deemed to be investments made in such securities. The capital adequacy norms for the purpose of underwriting shall be the net asset of the scheme. However the Underwriting obligation of a mutual fund shall not at any time exceed the total NAV of the scheme.