Guides
A growing collection of how-to guides and reference notes.
- T+1 / T+2 settlement in mutual funds
T+1 and T+2 settlement refer to the timeline between transaction date and money/units settlement in Indian mutual funds. Covers the SEBI February 2021 reform shifting equity MF redemption from T+3 to T+2 and subsequently T+1 for select categories, the operational mechanics, and the relationship with the broader securities-market settlement reform.
- Switch in mutual funds
A switch in mutual funds is the operational transfer of units from one scheme to another, treated as a redemption-plus-subscription for tax purposes. Covers the framework, the inter-scheme vs inter-AMC distinction, the exit-load implications, and the operational mechanics.
- Switch as a taxable event
A switch in Indian mutual funds (transferring units from one scheme to another) is treated as a taxable event by the Income Tax Department: the existing units are deemed redeemed at the prevailing NAV, with capital gains computed, and the proceeds deemed reinvested in the new scheme. Covers the tax mechanics, the impact on direct vs regular plan switches, the operational considerations, and the planning implications.
- Swing pricing in mutual funds
Swing pricing is a SEBI-permitted liquidity-management tool that allows mutual funds to adjust NAV to reflect transaction costs of large redemptions, protecting remaining investors from dilution. Covers the framework, the trigger thresholds, the operational mechanics, and the role in debt-MF liquidity management.
- Suresh Soni
Suresh Soni is CEO of Baroda BNP Paribas Mutual Fund. Covers career, fund management approach, and industry contribution within the Indian mutual fund landscape.
- Sunil Singhania
Sunil Singhania is Founder of Abakkus Asset Management, formerly Chief Investment Officer of Reliance / Nippon India MF. Covers career, fund management approach, and industry contribution within the Indian mutual fund landscape.
- Sundeep Sikka
Sundeep Sikka is Executive Director and CEO of Nippon Life India Asset Management. Covers career, fund management approach, and industry contribution within the Indian mutual fund landscape.
- Sundaram acquisition of Principal Mutual Fund (2021)
In December 2021, Sundaram Asset Management acquired Principal Asset Management's Indian mutual fund business, integrating Principal MF into the Sundaram franchise. Covers the transaction context, the deal structure, the operational integration, and the role in the broader consolidation of the Indian mutual fund industry.
- Stress testing framework for mutual funds (2024)
SEBI's 2024 stress testing framework requires mutual fund schemes (particularly small-cap, mid-cap, and credit-risk funds) to conduct periodic liquidity stress tests and disclose redemption-stress recovery timelines. Covers the framework, the methodology, the disclosure requirements, and the implications for scheme operations.
- Statutory auditor for mutual funds
The statutory auditor for an Indian mutual fund AMC is an external CA firm appointed to audit the financial records of each scheme annually. Covers the framework, the auditor's role (separate from compliance auditor), the SEBI rotation requirement, and the relationship with trustee and AMC.
- Stamp duty on mutual funds (2020+)
Stamp duty on mutual fund transactions in India was introduced from 1 July 2020 at 0.005% on subscriptions / unit purchases. Covers the framework, the historical context (pre-2020 absence of stamp duty), the operational mechanics, the impact on SIP / lump-sum investments, and the comparison with stamp duties on other financial instruments.
- Sponsor seed capital in mutual funds
Sponsor seed capital is the initial investment made by the AMC sponsor to seed a newly-launched mutual fund scheme. Covers the SEBI requirement, the typical seed amount, the lock-in framework, and the role in demonstrating sponsor commitment to the scheme.
- Sponsor eligibility for mutual funds
Sponsor eligibility refers to the SEBI-prescribed criteria that an entity must meet to be approved as a mutual fund sponsor in India. Covers the SEBI eligibility framework, the minimum net worth and track-record requirements, the role distinct from AMC, the recent SEBI relaxations enabling new sponsor types, and the implications for the SEBI MF Lite framework.
- Specialised Investment Funds (SIF)
Specialised Investment Funds (SIF) is a SEBI-introduced mutual fund category (effective 2024-2025) designed for HNI and sophisticated retail investors. Covers the framework, the minimum-investment threshold (Rs 10 lakh), the sub-categories (long-short equity, derivatives-permitted strategies), the regulatory rationale, and the comparison with PMS and AIFs.
- Sovereign Gold Bond (SGB)
Stub article on RBI-issued Sovereign Gold Bonds, the 8-year tenure, the 2.5% annual interest, the maturity tax exemption, and the comparison with gold ETFs. A full encyclopedic entry is pending.
- Sole proprietorship mutual fund investor
A sole proprietorship is essentially an individual's business identity rather than a separate legal entity; for mutual fund purposes the sole proprietor invests as an individual with the business name registered as folio reference. Covers the legal framework, the practical equivalence with individual investor status, KYC mechanics, and tax treatment.
- Smallcase managers vs mutual funds (regulatory contrast)
Smallcase manager-curated portfolios and mutual funds offer thematically-similar exposure but operate under different regulatory frameworks. Covers the SEBI Investment Adviser vs Mutual Fund Regulations distinction, the operational mechanics, the tax differences, and the decision framework.
- SL triggered without hit on chart (Kite)
Step-by-step explanation and resolution path when a stop-loss order is triggered on Zerodha Kite but the chart doesn't appear to show the trigger price being hit. Covers tick-level vs candle-level price, exchange execution, and the reconciliation.
- Skin-in-the-game rules for mutual funds
SEBI's skin-in-the-game framework requires designated AMC employees (fund managers, senior management) to invest a portion of their salary in the schemes they manage, aligning their incentives with investor outcomes. Covers the framework, the affected employees, the percentage requirements, and the implications for investor confidence.
- SIP growth story in Indian mutual funds
The SIP (Systematic Investment Plan) growth story is one of the defining structural changes in Indian capital markets, with monthly SIP inflows growing from approximately Rs 3,000 crore in 2016 to over Rs 25,000 crore by 2024. Covers the growth trajectory, the demographic drivers, the role of direct-plan platforms, and the implications for capital-market depth.
- SIP discontinuation rates in India
SIP discontinuation rates measure the percentage of active SIPs that are stopped within a given period, providing insight into investor behaviour and SIP retention. Covers the typical rates (15 to 25% annual), the drivers of discontinuation, and the implications for industry growth.
- Side-pocketed scheme
A side-pocketed scheme is a mutual fund scheme that has invoked SEBI's side-pocketing framework to isolate stressed credit assets in a separate segregated portfolio. Covers the operational framework, the investor implications, the resolution timeline, and the relationship with the main scheme.
- SID, KIM, SAI: mutual fund scheme documents
SID (Scheme Information Document), KIM (Key Information Memorandum), and SAI (Statement of Additional Information) are the three principal SEBI-mandated disclosure documents that every Indian mutual fund scheme must publish. Covers each document's purpose, content, update cadence, and the role in investor protection.
- Segregated portfolio in mutual funds
A segregated portfolio is the operational vehicle through which SEBI's side-pocketing framework allows AMCs to separate stressed credit assets from the main scheme portfolio. Covers the SEBI 2018 framework, the trigger conditions, the operational mechanics, the implications for investor unit holdings, and the resolution timeline.
- Section 195 (NRI mutual fund TDS)
Stub article on Section 195 of the Income Tax Act covering TDS on payments to non-residents including NRI mutual fund redemptions and IDCW. A full encyclopedic entry is pending.
- Section 194K of the Income Tax Act
Section 194K of the Income Tax Act 1961 mandates 10% TDS on IDCW (dividend) distributions from mutual fund schemes to resident individuals, where aggregate IDCW exceeds Rs 5,000 per scheme per financial year per unitholder. Covers the framework, the threshold, the rate, the operational mechanics for AMCs, the reflection in Form 26AS, and the broader 2020 dividend-taxation reform.
- Section 10(2A): exempt partnership share
Stub article on Section 10(2A) of the Income Tax Act covering exemption of a partner's share of partnership firm profit. A full encyclopedic entry is pending.
- SEBI nomination opt-out rule
SEBI's nomination opt-out rule requires every mutual fund investor to either provide a nominee or explicitly opt out via declaration. Covers the framework (effective 2022-2023), the rationale (reducing unclaimed-folio backlog), the operational mechanics, and the implications for legal-heir transmission.
- SEBI MF Advertisement Code
The SEBI MF Advertisement Code is the mandatory code governing the form, content, and presentation of mutual fund advertisements in India. It prescribes specific disclosures, prohibits misleading claims, mandates standardised performance presentation, and requires risk warnings. Covers the framework, the AMFI implementation, the prohibitions, and the practical impact on mutual fund marketing.
- SEBI Investor Charter for capital markets
The SEBI Investor Charter is a broader investor-rights document published by SEBI covering all SEBI-regulated entities (mutual funds, brokers, AIFs, REITs, InvITs). Covers the framework, the principal rights enumerated, and the relationship with AMC-specific Investor Charter for mutual funds.