BNP Paribas MF to wind up a debt fund

BNP Paribas Mutual Fund has decided to wind up the open-ended debt scheme 'BNP Paribas Government Securities Fund' from tomorrow, as per the exchange notice.
The decision to wind up the fund has been taken as it has not and will not be able to maintain average assets under management criteria of Rs 20 crore.
"BNP Paribas Asset Management India Pvt Ltd has intimated exchange regarding winding up of BNP Paribas Government Securities Fund with effect from February 21, 2018 on MFSS segment (Mutual Fund Service System) ," NSE said in a circular.
The fund was launched in 2013 in order to invest in government securities issued by central and state government.

Under the Sebi norms, fund houses need to keep the minimum subscription amount in debt and balanced schemes at Rs 20 crore during a new fund offer.
Additionally, an average assets base of Rs 20 crore on a half-yearly rolling basis has to be maintained for open-ended debt-oriented schemes.