The Securities and Exchange Board of India (SEBI) on November 01, 2023, issued a notification regarding the Simplification and streamlining of Offer Documents of Mutual Fund Schemes.
This Circular aims to streamline the dissemination of relevant information to investors, rationalize the preparation of SID, and facilitate its periodic updating by mutual fund
The following has been stated namely: -
• It states that in order to enhance the ease of preparation of the Scheme Information Document (SID) by mutual funds and increase its readability for investors it has been decided to simplify the format of SID
• The Revised Format of SID placed in Annexure ‘A’
• It states that the AMFI shall carry out the necessary changes in the formats of KIM and SAI in consultation with SEBI, within two months from the date of this circular
• It states that the revised format for SID, KIM, and SAI shall be adopted as under namely: -
(i) Updated format for SID/KIM/SAI shall be implemented w.e.f. April 01, 2024.
(ii) Draft SIDs to be filed with SEBI on or before March 31, 2024, or SIDs already filed with SEBI (final observations yet to be issued) or SIDs for which the final observations have already been received from SEBI (if launched on or before March 31, 2024), shall use the old format of SID.
(iii) For Existing SIDs by April 30, 2024, with data as of March 31, 2024.
[Circular No. SEBI/HO/IMD/IMD-RAC-2/P/CIR/2023/000175]
