Circular No. SEBI/HO/IM D/IMD-RAC-2/P/CIR/2024/000015 Dated: March 12, 2024
To
All Mutual Funds (MFs)/
Asset Management Companies (AMCs)I
Trustee Companies/ Board of Trustees of Mutual Funds!
Association of Mutual Funds in India (AMFI)
Dear Sir / Madam,
Sub: Simplification and streamlining of Offer Documents of Mutual Fund Schemes – Extension of timelines
1. SEBI vide circular SEBI/H0/1MD/IMD-RAC-2/P/CIR/2023/00175 dated November 01, 2023 prescribed simplified format of Scheme Information Document (SID).
2. Pursuant to request submitted by AMFI and discussions thereafter, it has been decided to revise the date of applicability of provisions at para 4 of aforesaid circular as under:
a. Updated format for SID/KIM/SAI to be implemented w.e.f. June 01, 2024.
b. Draft SIDs to be filed with SEBI on or before May 31, 2024 or SIDs already filed with SEB1 (final observations yet to be issued) or SIDs for which the final observations have already been received from SEBI (if launched on or before May 31, 2024), can use the old format of SID, provided that the SIDs are updated as per timeline mentioned at (c) below.
c. For Existing SIDs – by June 30, 2024 with data as on May 31, 2024.
d. Reference is drawn to para 1.2.1 and 1.2.4 of Master circular dated May 19, 2023 w.r.t updation of SID and KIM within 1 month from the end of half year i.e. April 30, 2024 for half year ended March 31, 2024. In order to avoid duplication of efforts of AMCs as well as to ensure uniform implementation of revised formats, the scheduled updation of SID and KIM for half year ended March 31, 2024, may be carried out by AMCs by June 30, 2024. This extension shall be applicable specifically for half year ended March 31, 2024 only.
All updated/revised SIDs shall be made available on the website of SEBI/AMFI/AMCs within the timelines specified above.
3. This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with Regulation 77 of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Your faithfully
Vishakha More
Deputy General Manager
Tel no. 022-26449206
Email: vishkham@sebi.gov.in
