Sebi on 11th Aug 2023 came out with a new timeline for the exit option window period given to the mutual fund unitholders for change in control of asset management company (AMC). Under the new timeline, a change in control of the AMC cannot be made unless the unitholders of the mutual fund would be given the option to exit on the prevailing Net Asset Value (NAV) without any exit load within a period of at least 15 calendar days from the date of communication.
However, in case of change in control resulting in consolidation or merger of schemes, the unitholders are given an option to exit on the prevailing Net Asset Value (NAV) without any exit within a time period not less than 30 calendar days from the date of communication.
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