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Canara Robeco MF halts inflows from UAE investors after nation's scrutiny

This was done after FATF added UAE to the Grey List

Mutual funds, sebi, investors, MF, equity, sensex, market, funds, shares, stocks, FDI, FPI, investment, growth

Senior executives in the MF industry say FAFT adding UAE to the Grey List is not a major concern as of now.

Chirag Madia Mumbai
Canara Robeco Mutual Fund (MF) has stopped taking investments from investors in the United Arab Emirates (UAE) after the financial action task force (FATF) added UAE to the Grey List.

Top MF executives said their fund houses have turned cautious when it comes to flows from the Gulf nation, but haven’t stopped accepting investments from the UAE. Most said they will wait awhile before making a final decision.

Canara Robeco MF on its website stated that, “By virtue of FATF adding UAE to the Grey List, it has been decided to provisionally abstain from accepting investments, including existing systematic investment

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First Published: Jun 30 2022 | 10:19 PM IST

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