The up to date format will carried out with impact from April 1, 2024, the Securities and Exchange Board of India (Sebi) stated in a round.
In line with the brand new SID format, Sebi requested AMFI to hold out the required adjustments within the codecs of KIM and SAI in session with it, inside two months.
To increase ease of preparation of the Scheme Information Document (SID) by mutual funds and improve its readability for buyers, markets regulator Sebi on Wednesday simplified and rationalised the format of supply paperwork.
The revamped format is aimed toward streamlining the dissemination of related data to buyers, rationalising the preparation of SID and facilitating its periodic updation by mutual funds.
The up to date format will carried out with impact from April 1, 2024, the Securities and Exchange Board of India (Sebi) stated in a round.
The resolution to revamp the format of SID was based mostly on the ideas of business physique AMFI and the suggestions of Sebi’s Mutual Fund Advisory Committee. To give impact to the revisions within the SID, the regulator has modified a number of provisions.
Under the modification, the scheme’s portfolio holdings — prime 10 holdings by the issuer and fund allocation towards varied sectors — shall be disclosed by the use of a practical net hyperlink the place such information shall be hosted.
Also, sure disclosures concerning the mixture funding within the scheme by AMC’s board of administrators and different key personnel, shall be offered within the Statement of Additional Information (SAI) of the MF scheme.
“Creation of segregated portfolio shall be optional and at the discretion of the AMC. It should be created only if the SID of the scheme has enabling provision for a segregated portfolio with detailed disclosures made in SAI,” Sebi stated.
“All new schemes shall have the enabling provision included in the SID for the creation of a segregated portfolio,” it stated.
Further, Asset Management Companies (AMCs) should disclose the chance-o-meter of the benchmark on the entrance web page of the preliminary providing software type, SID and Key Information Memorandum (KIM), and customary software type, together with the details about the scheme.
In line with the brand new SID format, Sebi requested AMFI to hold out the required adjustments within the codecs of KIM and SAI in session with it, inside two months.
(This story has not been edited by News18 workers and is printed from a syndicated information company feed – PTI)
