SEBI directions for simplification and streamlining of offer documents of mutual fund schemes

SEBI on November 01, 2023 has issued a circular for simplification and streamlining of Offer Documents of Mutual Fund Schemes. The revised format for SID, KIM and SAI shall be adopted as per following timelines:

1. Updated format for SID/KIM/SAI to be implemented w.e.f. April 01, 2024.
2. 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.
3. For Existing SIDs – by April 30, 2024 with data as on March 31, 2024.