To boost ease of preparation of the Scheme Information Document (SID) by mutual funds and increase its readability for investors, markets regulator Sebi on Wednesday simplified and rationalised the format of offer documents.
The revamped format is aimed at streamlining the dissemination of relevant information to investors, rationalising the preparation of SID and facilitating its periodic updation by mutual funds.
The updated format will implemented with effect from April 1, 2024, the Securities and Exchange Board of India (Sebi) said in a circular.
The decision to revamp the format of SID was based on the suggestions of industry body AMFI and the recommendations of Sebi’s Mutual Fund Advisory Committee.
To give effect to the revisions in the SID, the regulator has modified several provisions.
Under the modification, the scheme’s portfolio holdings — top 10 holdings by the issuer and fund allocation toward various sectors — will be disclosed by way of a functional web link whe
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