Description
Mirae Asset Mutual Fund introduces weekly Income Distribution cum Capital Withdrawal (IDCW) payout option in their Liquid Fund effective July 28, 2025.
Summary
Mirae Asset Mutual Fund has introduced a Weekly Income Distribution cum Capital Withdrawal (IDCW) payout option facility under Mirae Asset Liquid Fund (formerly known as Mirae Asset Cash Management Fund) effective July 28, 2025. This enhancement provides investors with more frequent income distribution options alongside the existing daily and monthly options.
Key Points
- Weekly IDCW payout option added to existing daily and monthly options
- Available under both Regular and Direct plans
- Record date will be every Wednesday for weekly IDCW declarations
- Scheme maintains existing Growth and IDCW options structure
- Amendment to Scheme Information Document (SID) and Key Information Memorandum (KIM)
Regulatory Changes
The SID and KIM of Mirae Asset Liquid Fund have been amended to include:
- Addition of Weekly Payout of Income Distribution cum capital withdrawal option
- Updated plan and option structure documentation
- Weekly declaration schedule with Wednesday as record date
Compliance Requirements
- Fund house must update all scheme documentation
- Investors can opt for the new weekly payout facility
- Existing terms and conditions remain unchanged except for the specific additions
Important Dates
- Effective Date: July 28, 2025
- Weekly Record Date: Every Wednesday
- Notice Date: July 21, 2025
Impact Assessment
Low impact enhancement providing additional flexibility to Mirae Asset Liquid Fund investors. The addition of weekly IDCW option caters to investors seeking more frequent income distributions than monthly but less frequent than daily options. This is a product enhancement rather than a significant market or regulatory change.
Impact Justification
Product enhancement for existing mutual fund scheme, affects only specific fund unitholders