Mutual funds' investment rules eased

The Securities and Exchange Commission has eased some requirements imposed on mutual funds, lifting their investment ceiling in property funds.

The funds are no longer subject to the 15 per cent limit, as the commission considered that the property funds have been sufficiently developed with a variety of asset types and more familiarisation of investors. Upon the eased rule, the SEC hopes that it would ease the establishment of property funds.

At the meeting on Wednesday, the SEC also eased the "group limit", the ceiling of investment in a particular securities which is now set at 30 per cent. The limit will be based on the market capitalisation of a security with overweight of no more than 10 per cent, or the group limit of no more than 30 per cent of the mutual fund's net asset value, whichever is higher. For example, for a mutual fund established to invest in securities enlisted for the SET50 Index; if Company A's market capitalisation in the index is 25 per cent, the fund's investment in related companies could be increased by no more than 10 per cent. Totally, the investment must not exceed 35 per cent of the fund's net asset value.

- The Nation

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Mutual funds' investment rules eased

The Securities and Exchange Commission has eased some requirements imposed on mutual funds, lifting their investment ceiling in property funds.

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