Securities and Exchange Board of India (SEBI) has issued Circular No. SEBI/HO/IMD/IMD-RAC-2/P/CIR/2023/000175 on November 1, 2023. This circular aims to simplify and streamline the preparation of Scheme Information Documents (SIDs) for mutual fund schemes, making it more reader-friendly and informative for investors.
Revised SID Format
Based on suggestions from AMFI and recommendations from the Mutual Fund Advisory Committee, the SID format was simplified and rationalized. The revised format, detailed in Annexure A, aims to streamline the dissemination of relevant information to investors and facilitate periodic updates by mutual funds.
Applicability and Timeline
The circular specifies the timeline for adopting the revised format for SID, Key Information Memorandum (KIM), and Statement of Additional Information (SAI):
Asset Management Companies (AMCs) are required to disclose the risk-o-meter of the Benchmark on various documents, including the Scheme Information Document (SID) and Key Information Memorandum (KIM).
Read Full Circular
Securities and Exchange Board of India
Circular No. SEBI/HO/IMD/IMD-RAC-2/P/CIR/2023/000175 Dated: November 01, 2023
All Mutual Funds (MFs)/
Asset Management Companies (AMCs)/
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
1. In order to enhance ease of preparation of the Scheme Information Document (SID) by mutual funds and increase its readability for investors, SEBI in consultation with AMFI, undertook an exercise to revamp the format of SID.
2. Based on the suggestions of AMFI and the recommendations of the Mutual Fund Advisory Committee, the format of SID was simplified and rationalized. The revised format (placed at Annexure ‘A’) is aimed at streamlining the dissemination of relevant information to investors, rationalizing the preparation of SID and facilitating its periodic updation by mutual funds.
3. Accordingly, the format of SID specified through circular dated May 23, 2008 and incorporated as Clause 1.1.2 of Master Circular dated May 19, 2023, stands modified.
4. Applicability: The revised format for SID, KIM and SAI shall be adopted as under:
a. Updated format for SID/KIM/SAI to be implemented w.e.f. April 01, 2024.
b. 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), 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 April 30, 2024 with data as on March 31, 2024.
All updated/revised SIDs shall be made available on the website of SEBI/AMFI/AMCs within the timelines specified above.
5. Further, in order to give effect to the revisions in the SID, the following clauses of SEBI Master circular dated May 19, 2023 stand modified, as detailed below:
|Clauses of Master Circular||Modified clause|
|1.||Format 5A – SID Format (referred to in clause 1.1.2)||The format of SID specified under Formats as mentioned at clause 1.1.2 (Format 5A), stands revised as attached to this circular.|
|2.||Clause 126.96.36.199||Scheme’s portfolio holdings (top 10 holdings by issuer and fund allocation towards various sectors) shall be disclosed by way of a functional web link where the said data shall be hosted.|
|3.||Clause 188.8.131.52||184.108.40.206 The aggregate investment in the scheme by Concerned Scheme’s FundManager(s)
220.127.116.11A The following disclosures shall be provided in SAI of the MF scheme:
1. The aggregate investment in the scheme under the following categories:
a) AMC’s Board of Directors and
b) Other key personnel.
|4.||Clause 18.104.22.168||Creation of segregated portfolio shall be optional and at the discretion of the AMC. It should be created only if the Scheme Information Document (SID) of the scheme has enabling provision for segregated portfolio with detailed disclosures made in Statement of Additional Information (SAI). All new schemes shall have the enabling provision included in the SID for creation of segregated portfolio|
|5.||Clause 22.214.171.124 (iv)||Provision shall be disclosed by the AMC in Scheme Information Document (SID) with detailed disclosures made in Statement of Additional Information (SAI).|
|6.||Clause 5.16.1A||AMCs shall disclose risk-o-meter of the Benchmark on:
a. Front page of initial offering application form, Scheme Information Documents (SID) and Key Information Memorandum (KIM); and
b. Common application form – along with the information about the scheme
6. In line with the new SID format, 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.
7. 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.
Deputy General Manager
Tel no.: 022-26449206
Front Cover Page
SCHEME INFORMATION DOCUMENT-
NAME OF THE SCHEME
( Type of Scheme)
1. Name and type of the scheme to be aligned with SEBI Circulars on Categorization and Rationalization of Mutual Fund Schemes,
2. As per SEBI Circulars on Potential Risk Class (PRC) Matrix for debt schemes, type of scheme to include PRC description and table
3. For Index Funds / Index ETF – Name of scheme shall include complete name of underlying Index.
4. In case of FOF’s where single fund is underlying (Feeder Funds): To include the complete name of the underlying fund in the name of the scheme
5. Product Labelling and Risk-o-meter of the Scheme and Benchmark should be disclosed
6. In case the scheme is listed/proposed to be listed (ETFs/close ended etc.), the Scrip Code issued by the stock exchange after listing to be mentioned below the Scheme Name.
|This product is suitable for investors who are seeking*:||Scheme Riskometer||Benchmark iskometer (as applicable)|
|As per AMFI Tier I Benchmark i.e. (as applicable)|
Offer for Units of Rs. — each for cash during the
New Fund Offer and Continuous offer for Units at NAV based prices
New Fund Offer Opens on: _____
New Fund Offer Closes on: _____
Scheme re-opens on:__
Name of Mutual Fund :
Name of Asset Management Company :
Name of Trustee Company :
Addresses, Website of the entities
The particulars of the Scheme have been prepared in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations 1996, (herein after referred to as SEBI (MF) Regulations) as amended till date and circulars issued thereunder filed with SEBI, along with a Due Diligence Certificate from the AMC. The units being offered for public subscription have not been approved or recommended by SEBI nor has SEBI certified the accuracy or adequacy of the Scheme Information Document.
The Scheme Information Document sets forth concisely the information about the scheme that a prospective investor ought to know before investing. Before investing, investors should also ascertain about any further changes to this Scheme Information Document after the date of this Document from the Mutual Fund / Investor Service Centres / Website / Distributors or Brokers.
The investors are advised to refer to the Statement of Additional Information (SAI) for details of________ Mutual Fund, Standard Risk Factors, Special Considerations, Tax and Legal issues and general information on www. _. (website address).
SAI is incorporated by reference (is legally a part of the Scheme Information Document). For a free copy of the current SAI, please contact your nearest Investor Service Centre or log on to our website.
The Scheme Information Document (Section I and II) should be read in conjunction with the SAI and not in isolation.
This Scheme Information Document is dated_______ .
Note: The wording in italics is explanatory comments/instructions.
i. A Mutual Fund is free to add any other disclosure, which in the opinion of the Trustees of the Mutual Fund (Trustees) or the Asset Management Company (AMC) is material for the investor, provided that such information is not presented in an incomplete, inaccurate or misleading manner. Care should be taken to ensure that inclusion of such information does not, by virtue of its nature, or manner of presentation, obscure or impede understanding of any information that is required to be included under the Scheme Information Document.
ii. Since investors who rely on the Scheme Information Document may not be sophisticated in legal or financial matters, care should therefore be taken to present the information in the Scheme Information Document in simple language and in a clear, concise and easily understandable manner.
iii. The scheme shall not have a name or title which may be deceptive or misleading. Scheme’s name should be consistent with its statement of investment policy and the scheme name should be in line with SEBI circulars on categorization.
iv. The type of the scheme would mean whether the scheme is a growth scheme, income scheme, balanced scheme etc. and whether the scheme is open-ended, close-ended, an interval fund etc. and the scheme type should be in line with SEBI circular on categorization.
v. Scheme Information Document has two sections- Section I and Section II. While Section I contains scheme specific information that is dynamic, Section II contains elaborated provisions (including references to applicable Regulations/circulars/guidelines) with reference to information/disclosures provided in Section I.
Part I. HIGHLIGHTS/SUMMARY OF THE SCHEME
|I.||Name of the scheme||
|II.||Category of the Scheme||(As per SEBI circular on categorization and rationalization of mutual fund schemes)|
|IV.||Scheme code||(To be disclosed after obtaining scheme code)|
|V.||Investment objective||Clear and concise Investment objective to be stated in SID and must be true to the scheme label. It shall contain statement “There is no assurance that the investment objective of the Scheme will be achieved”|
|VI.||Liquidity/listing details||Provide Liquidity provisions on ongoing basis. Listing details only to be provided if the scheme intends to list immediately after NFO|
|VII.||Benchmark (Total Return Index)||
|VIII.||NAV disclosure||Mention only the Daily Disclosure timings on AMFI and AMC website. Further Details in Section II.|
|IX.||Applicable timelines||Timeline for
|X.||Plans and Options
Plans/Options and sub
|Plan- Direct Plan/Regular Plan
Options under each Plan(s)
Income Distribution cum Capital Withdrawal (IDCW) (include facilities if applicable)
For detailed disclosure on default plans and options, kindly refer SAI.
|XI.||Load Structure||Exit Load:|
|XIII.||Minimum Additional Purchase Amount|
|XIV.||Minimum Redemption/switch out amount|
|XV.||New Fund Offer Period This is the period during which a new scheme sells its units to the investors.||NFO opens on:
NFO closes on:Minimum duration to be 3 working days and will not be kept open formore than 15 daysAny changes in dates will be published through notice on AMCwebsite i.e. .The NFO period in case of ELSS schemes shall continue to begoverned by guidelines issued by Government of India.
|XVI.||New Fund Offer Price: This is the price per unit that the investors have to pay to invest during the NFO.||price per unit|
|Confirmation/disclosure statement only. For Details, kindly refer SAI|
|XVIII.||Swing pricing disclosure||Confirmation/disclosure statement only. For Details, kindly refer SAI|
|XIX.||Stock lending/short selling||Confirmation/disclosure statement only. For Details, kindly refer SAI|
|XX.||How to Apply||Summary of process only. Details in section II|
|XXI.||Where can applications for subscription/ redemption/ switches be submitted||Summary of process only. Details in section II|
|XXIII.||Specific attribute of the scheme (such as lock in, duration in case of target maturity scheme/ close ended schemes) (as applicable)|
|XXIV.||Special product/ facility available during the NFO and on ongoing basis||Briefly describe the facilities/products Available Facilities like:· Systematic Investment Plan· Systematic Transfer Plan· Systematic Withdrawal Plan· For further details of above special products / facilities, For Details, kindly refer SAI|
|XXV.||Weblink||A weblink wherein TER for last 6 months as well as scheme factsheet shall be made available.|
DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY
It is confirmed that:
(i) The Scheme Information Document submitted to SEBI is in accordance with the SEBI (Mutual Funds) Regulations, 1996 and the guidelines and directives issued by SEBI from time to time.
(ii) All legal requirements connected with the launching of the Scheme as also the guidelines, instructions, etc., issued by the Government and any other competent authority in this behalf, have been duly complied with.
(iii) The disclosures made in the Scheme Information Document are true, fair and adequate to enable the investors to make a well informed decision regarding investment in the Scheme.
(iv) The intermediaries named in the Scheme Information Document and Statement of Additional Information are registered with SEBI and their registration is valid, as on date.
(v) The contents of the Scheme Information Document including figures, data, yields etc. have been checked and are factually correct
(vi) A confirmation that the AMC has complied with the compliance checklist applicable for Scheme Information Documents and other than cited deviations/ that there are no deviations from the regulations
(vii) Notwithstanding anything contained in this Scheme Information Document, the provisions of the SEBI (Mutual Funds) Regulations, 1996 and the guidelines there under shall be applicable.
(viii) The Trustees have ensured that the (name of the scheme/Fund) approved by them is a new product offered by (name of the Mutual Fund) and is not a minor modification of any existing scheme/fund/product (This clause is not applicable to Fixed Maturity Plans and Close Ended Schemes except for those close ended schemes which have the option of conversion into open ended schemes on maturity and also to Interval Schemes.)
Part II. INFORMATION ABOUT THE SCHEME
A. HOW WILL THE SCHEME ALLOCATE ITS ASSETS?
This includes asset allocation table giving the broad classification of assets and indicative exposure level in percentage terms. The asset allocation should be consistent with the investment objective of the scheme and SEBI circulars on Categorization and Rationalization of Mutual Fund Schemes.
|Instruments||Indicative allocations (% of total assets)|
Indicative Table (Actual instrument/percentages may vary subject to applicable SEBI circulars)
|Sl. no||Type of Instrument||Percentage of exposure||Circular references*|
|2.||Equity Derivatives for non-hedging purposes|
|5.||ReITS and InVITS|
|6.||AT1 and AT2 Bonds|
|7.||Any other instrument|
*SEBI circular references (wherever applicable) in support of exposure limits of different types of asset classes in asset allocation shall be provided.
Portfolio rebalancing: AMC to refer to Clause 126.96.36.199, Clause 2.9, Clause 188.8.131.52 and Clause 3.6.7 of SEBI Master Circular for Mutual Funds dated May 19, 2023 and applicable clause of Consolidated checklist of standard observations for active and passive breach/es.
B. WHERE WILL THE SCHEME INVEST?
This includes only a list of all instruments in which the scheme will invest. (Detailed definition and applicable regulations/guidelines for each instrument shall be included in Section II)
Investment in overseas securities shall be made in accordance with the requirements stipulated by SEBI and RBI from time to time.
Any other information/disclosure to be added as per applicable Consolidated checklist of standard observations.
C. WHAT ARE THE INVESTMENT STRATEGIES?
Information about investment approach and risk control should be included in simple terms. Due care shall be taken in deciding whether the investment strategy is “Passive”/”Active”. Investment strategy shall match the asset allocation pattern of the scheme. (Example: Fund of Funds with multiple funds cannot be considered as a scheme with passive investment strategy since fund manager has scope for active selection and management of funds).
Further, details on generic concepts such as macroeconomic trends may not be provided unless there are investment strategies derived specifically from these concepts.
Disclosure for derivatives to be provided in summary form. For detailed derivative strategies, please refer to SAI.
Further, Portfolio turnover policy, particularly for equity oriented schemes shall also be disclosed. In discussing the investment strategies, the scheme shall briefly discuss in the Scheme Information Document the probable effect of such strategies on the rate of the total portfolio turnover of the scheme, if such effects are significant and also other consequences which will result from the higher portfolio turnover rate e.g. higher brokerage and transaction cost.
D. HOW WILL THE SCHEME BENCHMARK ITS PERFORMANCE?
Benchmark (Total Returns Index): AMFI prescribed benchmark for all schemes except ETFs / Index Funds and FOFs with single underlying Fund. The name and the justification (specific to the scheme objective) for the use of benchmark index with which the performance of the scheme can be compared with.
E. WHO MANAGES THE SCHEME?
Name, age, educational qualification and experience of the fund manager to the scheme to be disclosed. The experience of the fund manager should include last 10 years’ experience and also the name of other schemes under his /her management.
Dedicated fund manager is mandatory for commodity based funds and overseas investments as per applicable SEBI circulars
F. HOW IS THE SCHEME DIFFERENT FROM EXISTING SCHEMES OF THE MUTUAL FUND?
Provide a reference list of existing schemes and a functional website link that contains detailed comparative table.
G. HOW HAS THE SCHEME PERFORMED (if applicable)
[In case of a new scheme, this is not applicable hence give the statement-“This scheme is a new scheme and does not have any performance track record”]
[In case of a scheme in existence, the return figures shall be given for that scheme only. For a scheme which is in existence for more than 1 year, the returns given will be Compounded Annualised Returns
and for scheme which is in
Absolute returns for each financial year for the last 5 years shall be represented by means of a bar
diagram as per the adjacent
|Compounded Annualised Returns||Scheme Returns %||Benchmark Returns %|
|Returns for the last 1 year|
|Returns for the last 3 years|
|Returns for the last 5 years|
Absolute Returns for each financial year for the last 5 years
H. ADDITIONAL SCHEME RELATED DISCLOSURES
i. Scheme’s portfolio holdings (top 10 holdings by issuer and fund allocation towards various sectors to be provided through a functional website link that contains detailed description.)
ii. Disclosure of name and exposure to Top 7 issuers, stocks, groups and sectors as a percentage of NAV of the scheme in case of debt and equity ETFs/index funds through a functional website link that contains detailed description
iii. Functional website link for Portfolio Disclosure – Fortnightly / Monthly/ Half Yearly.
iv. Portfolio Turnover Rate particularly for equity oriented schemes shall also be disclosed.
v. Aggregate investment in the Scheme by:
|Sr. No.||Category of Persons||Net Value|
|1.||Concerned scheme’s Fund Manager(s)||Units NAV per unit|
For any other disclosure w.r.t investments by key personnel and AMC directors including regulatory provisions in this regard kindly refer SAI.
vi. Investments of AMC in the Scheme – Details to be provided vide functional website link.
The AMC shall not invest in any of the schemes unless full disclosure of its intention to invest has been made in the Scheme Information Document and that the AMC shall not be entitled to charge any fees on such investment
Part III- OTHER DETAILS
A. COMPUTATION OF NAV
Disclosure pertaining to illustration on computation of NAV and Methodology for calculation of sale and re-purchase price of the units of mutual fund scheme.
Disclosure to the effect that the repurchase price shall not be lower than 95% of the NAV. For other details such as policies w.r.t computation of NAV, rounding off, investment in foreign securities, procedure in case of delay in disclosure of NAV etc. refer to SAI
B. NEW FUND OFFER (NFO) EXPENSES
These expenses are incurred for the purpose of various activities related to the NFO like sales and distribution fees paid marketing and advertising, registrar expenses, printing and stationary, bank charges etc. Details of source for meeting these expenses may be disclosed. AMC to ensure that no NFO expenses will be / were charged to the Scheme.
C. ANNUAL SCHEME RECURRING EXPENSES
These are the fees and expenses for operating the scheme. These expenses include Investment Management and Advisory Fee charged by the AMC, Registrar and Transfer Agents’ fee, marketing and selling costs etc. as given in the table below:
The AMC has estimated that upto _____ % of the daily average net assets of the scheme will be charged to the scheme as expenses (Give slab wise break up depending on the assets under management. Give plan/option wise break up if the expense structures are different). For the actual current expenses being charged, the investor should refer to the website of the mutual fund.
|Expense Head||% p.a. of daily
|Investment Management & Advisory Fee|
|Audit fees/fees and expenses of trustees|
|Expense Head||% p.a. of daily
|Registrar & Transfer Agent Fees including cost of providing account statements / IDCW / redemption cheques/ warrants|
|Marketing & Selling Expenses including Agents Commission and statutory advertisement|
|Costs related to investor communications|
|Costs of fund transfer from location to location|
|Cost towards investor education & awareness|
|Brokerage & transaction cost pertaining to distribution of units|
|Goods & Services Tax on expenses other than investment and advisory fees|
|Goods & Services Tax on brokerage and transaction cost|
|Other Expenses (to be specified as per Reg 52 of SEBI MF Regulations)|
|Maximum Total expenses ratio (TER) permissible under Regulation 52 (6) (c)|
|Additional expenses under Regulations 52(6A)(c)|
|Additional expenses for gross new inflows from specified cities|
*Impact of TER on returns of both Direct plan and Regular plan through an illustration may be provided.
In case of Fund of Funds scheme, it shall be disclosed that the investors are bearing the recurring expenses of the scheme, in addition to the expenses of other schemes in which the Fund of Funds Scheme makes investments
Any other information/disclosure to be added as per applicable Consolidated checklist of standard observations.
D. LOAD STRUCTURE
Exit Load is an amount which is paid by the investor to redeem the units from the scheme. Load amounts are variable and are subject to change from time to time. For the current applicable structure, please refer to the website of the AMC (www.————————————————————— ) or may call at (toll free no.) or your
|Type of Load||Load chargeable (as %age of NAV)|
|Exit||To be prescribed by respective AMC|
Functional website link that contains detailed description
B. Risk factors
– Scheme specific risk factors
Include risk factors associated with investment in various instruments in which the scheme intends to invest as indicated in asset allocation section.
C. Risk mitigation strategies
II. Information about the scheme:
A. Where will the scheme invest – Detailed description of the instruments (including overview of debt markets in India, if applicable) mentioned in Section I
B. What are the investment restrictions?
All the investment restrictions as contained in the Seventh Schedule to SEBI (Mutual Funds) Regulations, 1996 and circulars issued thereunder, applicable to the scheme should be incorporated. Further in case the fund follows any internal norms vis-à-vis limiting exposure to a particular scrip or sector, etc. apart from the aforementioned investment restrictions the same needs to be disclosed.
C. Fundamental Attributes
Following are the Fundamental Attributes of the scheme, in terms of Clause 1.14 of SEBI Master Circular for Mutual Funds dated May 19, 2023:
(i) Type of a scheme
(ii) Investment Objective
(iii) Terms of Issue
In accordance with Regulation 18(1 5A) of the SEBI (MF) Regulations and Clause 184.108.40.206 of SEBI Master Circular for Mutual Funds dated May 19, 2023 the Trustees shall ensure that no change in the fundamental attributes of the Scheme(s) and the Plan(s) / Option(s) thereunder or the trust or fee and expenses payable or any other change which would modify the Scheme(s) and the Plan(s) / Option(s) thereunder and affect the interests of Unitholders is carried out unless:
D. Index methodology (for index funds, ETFs and FOFs having one underlying domestic ETF)- Disclosures regarding the index, index eligibility criteria, methodology, index service provider, index constituents, impact cost of the constituents
E. Principles of incentive structure for market makers (for ETFs)
F. Floors and ceiling within a range of 5% of the intended allocation against each sub class of asset, as per clause 13.6.2 of SEBI master circular for mutual funds dated May 19, 2023 (only for close ended debt schemes)
G. Other Scheme Specific Disclosures:
Listing and transfer of units
|Dematerialization of units|
|Minimum Target amount
(This is the minimum amount required to operate the scheme and if this is not collected during the NFO period, then all the investors would be refunded the amount invested without any return.)
|Maximum Amount to be raised (if any)|
|Dividend Policy (IDCW)|
|Allotment (Detailed procedure)||Mention, the procedure for allotment and dispatch of account statements/unit certificates. Indicate the time period. Mention the number of days within which the statement shall be dispatched to the unitholders who subscribe to the units when the scheme is open for continuous subscription after NFO as per the applicable guidelines.|
|Refund||If application is rejected, full amount will be refunded within 5 working days of closure of NFO. If refunded later than 5 working days @ 15% p.a. for delay period will be paid and charged to the AMC.|
|Who can invest
This is an indicative list and investors shall consult their financial advisor to ascertain whether the scheme is suitable to their risk profile.
|Who cannot invest|
|How to Apply (details)||Details regarding availability of application form from either the Investor Service Centers (ISCs)/Official Points of Acceptance(OPAs) of AMC or may be downloaded from the website of AMC should be specified Please refer to the SAI and Application form for the
|Where can you submit the filled up applications.||Provide name, address and contact no. of Registrar and Transfer Agent (R&T), email id of R&T, website address of R&T, official points of acceptance, collecting banker details etc. on back cover page.|
|The policy regarding reissue of repurchased units, including the maximum extent, the manner of reissue, the entity (the scheme or the AMC) involved in the same.|
|Restrictions, if any, on the right to freely retain or dispose of units being offered.|
|Cut off timing for subscriptions/
redemptions/ switches This is the time before which your application (complete in all respects) should reach the official points of acceptance.
|Where can the applications for purchase/redemption switches be submitted?||Please refer the AMC web site (Provide web site link) at the following link for the list of official points of acceptance, collecting banker details etc.
To inform investors that it is mandatory to mention their bank account numbers in their applications/requests for redemption.
|Minimum amount for purchase/redemption/switches (mention the provisions for ETFs, as may be applicable, for direct|
|subscription/redemption with AMC.|
|Minimum balance to be maintained and consequences of non-maintenance|
|Accounts Statements||The AMC shall send an allotment confirmation specifying the units allotted by way of email and/or SMS within 5 working days of receipt of valid application/transaction to the Unit holders registered e-mail address and/ or mobile number (whether units are held in demat mode or in account statement form).
A Consolidated Account Statement (CAS) detailing all the transactions across all mutual funds (including transaction charges paid to the distributor) and holding at the end of the month shall be sent to the Unit holders in whose folio(s) transaction(s) have taken place during the month by mail or email on or before 15th of the succeeding month.
Half-yearly CAS shall be issued at the end of every six months (i.e. September/ March) on or before 21st day of succeeding month, to all investors providing the prescribed details across all schemes of mutual funds and securities held in dematerialized form across demat accounts, if applicable
For further details, refer SAI.
|Dividend/ IDCW||The payment of dividend/IDCW to the unitholders shall be made within seven working days from the record date.|
|Redemption||The redemption or repurchase proceeds shall be dispatched to the unitholders within three working days from the date of redemption or repurchase.
For list of exceptional circumstances refer para 14.1.3 of SEBI Master Circular for Mutual Funds dated May 19, 2023
For schemes investing atleast 80% of total assets in permissible overseas investments (as per Clause 12.19 of SEBI Master Circular for Mutual Funds dated May 19, 2023), the transfer of redemption or repurchase proceeds to the unitholders shall be made within five working days from the date of redemption or repurchase.
|Delay in payment of redemption / repurchase proceeds/dividend||The Asset Management Company shall be liable to pay interest to the unitholders at rate as specified vide clause 14.2 of SEBI Master Circular for Mutual Funds dated May 19, 2023 by SEBI for the period of such delay|
|Unclaimed Redemption and Income Distribution cum Capital Withdrawal Amount|
|Disclosure w.r.t investment by minors|
Any other disclosure in terms of Consolidated Checklist on Standard Observations
III. Other Details
A. In case of Fund of Funds Scheme, Details of Benchmark, Investment Objective, Investment Strategy, TER, AUM, Year wise performance, Top 10 Holding/ link to Top 10 holding of the underlying fund should be provided
B. Periodic Disclosures such as Half yearly disclosures, half yearly results, annual report
C. Transparency/NAV Disclosure (Details with reference to information given in Section I)
D. Transaction charges and stamp duty- Indicate only the amount of transaction charges and stamp duty applicable. Details to be provided in SAI.
E. Associate Transactions- Please refer to Statement of Additional Information (SAI)
F. Taxation- For details on taxation please refer to the clause on Taxation in the SAI apart from the following:
|Resident Investors||Mutual Fund|
|Tax on dividend|
|Capital gain Long Term: Short Term:|
G. Rights of Unitholders- Please refer to SAI for details.
H. List of official points of acceptance: Details to be uploaded and updated on a functional website link
I. Penalties, Pending Litigation or Proceedings, Findings of Inspections or Investigations For Which Action May Have Been Taken Or Is In The Process Of Being Taken By Any Regulatory Authority
-AMCs to ensure real time upation of data on the said link.
-Any disclosure in terms of Consolidated Checklist on Standard Observations