What is the new Format of Offer Documents of AMCs ?
It was felt that Offer Documents had become lengthy and complex with repetitive details. To make the erstwhile mutual fund offer documents user-friendly, it is simplified and now bifurcated into two parts. The first part is Scheme Information Document (SID)that concentrates on the information relevant to investment decisions. Second part named as Statement of Additional Information (SAI) will contain the information about the sponsor, AMC, Trustee Co., other service providers, taxation details and other general information regarding mutual funds. SID will be separate for each scheme and SAI will be common for an asset management company. Both SID and SAI are accessible on websites of asset management companies. Besides, SID shall be available in printed form at time of NFOs. However, SID shall be read in conjunction with the SAI and not in isolation. It is expected that SID and SAI are handy from an investors perspective. The KIM shall continue to be provided alongwith application form
