Ch.3 · Custodian and RTA Functions · hard
What is SEBI's 'stewardship code' requirement for mutual fund AMCs?
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EXPLANATION
SEBI's Stewardship Code requires AMCs to: (1) have a written stewardship policy; (2) actively exercise voting rights in investee companies' general meetings; (3) engage with companies on governance issues; (4) disclose actual voting decisions (how voted on each resolution) quarterly on their website. This makes AMCs active owners who protect unit holders' interests as shareholders.
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