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Trusts in Maharashtra get go-ahead to invest funds in debt, equity MFs, index funds, ETFs

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Trusts in Maharashtra can now invest up to 50 percent of their funds in securities including  debt mutual funds, equity mutual funds with at least 65 percent holding in listed shares, exchange-traded funds, and index funds among other instruments.

The Charity Commissioner of Maharashtra, by way of a circular, has allowed trusts in the state to invest the trust money in such securities along with listed debt securities, Basel III Tier  1 bonds, and government securities.

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This assumes significance as trusts were only allowed to deposit their money in a bank or a post office.

This is a developing story and will be updated.

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