SEBI plans to conduct a forensic audit of all 44 mutual funds to examine their due diligence practices regarding investments in illiquid securities and risk management. FPIs continued their selling streak in Indian equities by withdrawing Rs. 9,600 crore in February due to higher valuations of domestic stocks. HDFC AMC launched its first AIF product targeting investments in VC and PE funds, while Aditya Birla Sun Life MF launched a new index fund tracking the CRISIL IBX SDL Jun 2032 Index.