CURRENT AFFAIRS QUIZ - 2019
Which bank launched India's first mutual fund side pocket initiative?
A)
Tata Mutual Fund
B)
SBI Mutual Fund
C)
ICICI Prudential Mutual Fund
D)
Birla Sun Life Asset Management

Correct Answer : Option (A) - Tata Mutual Fund

Note :

Tata Mutual Fund launched the side-pocketing (segregated portfolio) option to set aside its troubled investment in Dewan Housing Finance Limited (DHFL). They were created for 3 schemes namely Tata Corporate Bond Fund, Tata Medium Term Fund, and Tata Treasury Advantage Fund. This is India's first formal use of the side pocketing provisions which was introduced by the Securities and Exchange Board of India (SEBI) in December 2018. The investors are allowed to redeem their investments in 3 schemes without any exit load till June 14, 2019. Tata mutual fund house has already suspended subscription in 3 schemes and more fund houses are expected to use the side-pocketing facility in the coming days.