Economics · Economy

Examine the following regulatory tenets established under the SEBI (Mutual Funds) Regulations, 1996: Statement 1: A mutual fund must be constituted as a trust under the Indian Trusts Act, 1882, and registered under the Registration Act, 1908. Statement 2: The mutual fund Sponsor must possess a sound financial track record of at least 5 years and contribute a minimum of 40% of the AMC net worth. Statement 3: At least two-thirds of the trustees on the Board of Trustees must be independent persons unconnected to the Sponsor. Statement 4: An AMC must continuously maintain a specified minimum net worth regulatory floor (currently & #8377;50 crore) to manage public assets. Statement 5: A separate SEBI-registered Custodian must hold the physical and electronic fund securities in safe custody. Statement 6: Under standard limits, a mutual fund scheme cannot invest more than 10% of its NAV in the equity shares of a single company (excluding index/sectoral tracking adjustments). Statement 7: A distinct Compliance Officer must be appointed, reporting directly to both the Trustees and the AMC Board. Which assessment of these core structural requirements is correct?