The latest Sebi circular dated August 1, 2024 highlights that university funds and university-related endowments are not required to make the additional disclosures subject to compliance with certain conditions.
MintGenie Team
Published2 Aug 2024, 04:51 PM IST
The lenient disclosure requirements are subject to Indian equity being less than 25 percent of global AUM
The capital markets regulator Securities Exchange Board of India (Sebi) on May 30, 2024, released a master circular for foreign portfolio investors (FPIs).
This master circular had subsumed an earlier circular dated August 24,2023 which deals with FPIs (foreign portfolio investors) that are exempt from additional disclosure requirements.
Now, the latest circular dated August 1, 2024 mentions that university funds and university related endowments will not be required to make the additional disclosures subject to compliance with certain conditions.
The circular states that university funds and endowments are not supposed to make additional disclosures when they fulfil the following conditions.
These are the conditions as per latest Sebi circular:
I. Indian equity is less than 25 percent of global AUM
II. Global assets under management (AUM) is more than equivalent to ₹10,000 crore in Indian currency.
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III. Appropriate return/ filing to the respective tax authorities in their home jurisdiction to evidence the nature of a non-profit organisation exempt from tax.