Securities and Exchange Board of India

CIRCULAR

SEBI/HO/IMD/IMD-I DOF2/P/CIR/2021/0560

April 30, 2021

All Mutual Funds (MFs)/
Asset Management Companies (AMCs)/
Trustee Companies/ Board of Trustees of Mutual Funds/
Association of Mutual Funds in India (AMFI)

Sir / Madam,

Subject: Timelines for updation of Scheme Information Document (SID) and Key Information Memorandum (KIM)

A. SEBI vide circular no. SEBI/HO/IMD/DF2/CIR/P/2021/024 dated March 04, 2021 has prescribed the procedure for updation of SID and KIM of Mutual Fund schemes. In this regard, based on the feedback received, it has been decided to modify paragraph 11 of the aforesaid circular as follows:

1. Paragraph 11.1 (i) shall be read as under:

“11.1 (i) For the open ended and interval schemes, the SID shall be updated within next six months from the end of the 1st half or 2nd half of the financial year in which schemes were launched, based on the relevant data and information as at the end of previous month. Subsequently, SID shall be updated within one month from the end of the half-year, based on the relevant data and information as at the end of September and March respectively.”

2. Paragraph 11.1 (iv) shall be read as under:

“11.1 (iv) KIM shall be updated at least once in half-year, within one month from the end of the respective half-year, based on the relevant data and information as at the end of September and March and shall be filed with SEBI forthwith through electronic mode only.”

B. Taking into account the difficulties expressed by the industry in light of continuing COVID 19 scenario, it has been decided that the updation of SID and KIM for the half-year ended March, 2021 shall be completed by May 31, 2021.

C. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Yours faithfully,

Hruda Ranjan Sahoo
Deputy General Manager
Tel no.: 022-26449586
Email: [email protected]

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