SEBI made clear that the funds have to make sure to have a high investment grade rating for the additional exposure to the securities issued by HFCs (Home Finance Company). Apart from this, it is compulsory for these entities to be registered with the National Housing Bank.
The SEBI guidelines state that the sectoral exposure in debt mutual funds cannot exceed a limit of 25% at the sector level. HFCs are given additional exposure with a limit of 10% in financial services sector.
Keeping in mind the role of HFCs and the way it is helping the government with the goal of Pradhan Mantri Aawas Yojana, it has now been said that the limits for additional exposure which have been set for HFCs will be increased to 15% from 10%.
Till August last year, the debt mutual funds could invest an extra 5% in HFCs but after that it has been doubled.
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