SEBI on 1st Nov 2023 issued notification regarding Simplification and streamlining of Offer Documents of Mutual Fund Schemes.
The following has been stated
It states that in order to enhance 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 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.
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.
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