New Delhi, Sept 12 : After long consultations with the mutual fund industry, the Securities and Exchange Board of India (SEBI) had approved their participation in the commodity segment in May. However, delay in approval of custodian license has resulted in not a single asset management company being launched a mutual fund so far.
However, things seem to be looking up, with Deutsche Bank filing for a custodian license in the commodities space.
“SEBI’s investment management department requires a separate registration to be a custodian for the commodity segment, which is also one of the reasons for the delay,” a source close to development told Moneycontrol. However, a further digging reveals that this is just the tip of the problem.
