Hi,

I wanted to the SEBI limit on NFO Expenses. Earlier it was 6% of NFO proceeds charged to the scheme and amortized over say.5 years..Presently , NFO expenses are borne by AMC , amortization is banned. Is the 6% limit still applicable for AMC when it spends out of its P&L for NFO expenses or there is not such limit on how much an AMC can spend on NFO Expenses.?

MMTIA