SEBI Unveils New Format for SID of AMC

Current Context: The Securities and Exchange Board of India (SEBI) has simplified and rationalized the format of the Scheme Information Document (SID) to boost its ease of preparation by mutual funds and increase its readability for investors.
                

• The revamped format aims to streamline the dissemination of relevant information to investors, facilitate the periodic updation of the SID by mutual funds.
• The updated format will be implemented from April 1, 2024.
• The decision to revamp the SID format was based on the suggestions of the industry body AMFI and the recommendations of SEBI’s Mutual Fund Advisory Committee.
• Under the new provisions, 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 where such data will be hosted.
• Also, certain disclosures about the aggregate investment in the scheme by AMC’s board of directors and other key personnel, will be provided in the Statement of Additional Information (SAI) of the MF scheme.

Question:

Q.1 When will the updated SID format be implemented?
a. April 1, 2023
b. April 1, 2024
c. April 1, 2025
d. April 1, 2026