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Our Bureau

Kolkata , Feb. 28

While distributors are largely content with some of the provisions concerning MFs, most would like fund houses to come out with new products in line with what has been specified in the Budget.

These include close-end equity oriented funds, which will now be considered on a par with their open-end counterparts for the purpose of exemption from dividend distribution tax.

Mr Naresh Pachisia, MD, SKP Securities, said the new provisions will extend the number of options available to investors. "MFs will be expected to come up with more schemes that our local clients can use to make greater investments overseas," he said. Others, like Mr Sandeep Parwal, Director, SPA Capital, feel Budget will help in bringing in more long-term money to MFs.

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