Connect with us

Business

Updation of MFs’ scheme related documents can be completed by May-end: Sebi

Published

on

Updation of MFs' scheme related documents can be completed by May-end: Sebi

New Delhi: Markets regulator, Sebi on Friday said updation of mutual fund scheme related documents for the half-year ended March 2021 can be completed by May 31 amid the ongoing coronavirus pandemic. “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,” Sebi said in a circular.

Scheme Information Document (SID) and Key Information Memorandum (KIM) are among the important documents which are prepared by asset management companies (AMCs) to provide information about a particular mutual fund scheme.

In addition, the regulator has modified its guidelines pertaining to updation of SID and KIM.

For the open ended and interval schemes, Sebi said “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 needs to 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, it added.

With regard to KIM, Sebi said it will 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. It will be filed with Sebi forthwith through electronic mode only.

Earlier, KIM was required to be updated at least once a year and needed to be filed with Sebi (Securities and Exchange Board of India) through electronic mode only.

In March, the regulator had prescribed the procedure for updation of SID and KIM of mutual fund schemes.

Main Article
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor.