Description
Mirae Asset Mutual Fund introduces weekly Income Distribution cum Capital Withdrawal (IDCW) payout option for their Liquid Fund, effective July 28, 2025.
Summary
Mirae Asset Mutual Fund has introduced a Weekly Income Distribution cum Capital Withdrawal (IDCW) payout option for the Mirae Asset Liquid Fund (formerly known as Mirae Asset Cash Management Fund) on the BSE StAR MF platform, effective July 28, 2025. This adds to the existing daily and monthly IDCW options.
Key Points
- New weekly IDCW payout option introduced for Mirae Asset Liquid Fund
- Weekly IDCW declarations will be made every Wednesday as the record date
- Both Regular and Direct plans will have the weekly option available
- The fund continues to offer Growth option and existing daily/monthly IDCW options
- SID (Scheme Information Document) and KIM (Key Information Memorandum) updated to reflect changes
Regulatory Changes
- Updated Plans and Options section in SID/KIM to include weekly IDCW payout facility
- Addition of “Weekly Payout of Income Distribution cum capital withdrawal option” to existing sub-options
- Record date established as every Wednesday for weekly IDCW declarations
Compliance Requirements
- Scheme Information Document and Key Information Memorandum amended to reflect new option
- Notice cum addendum forms integral part of updated SID & KIM
- All other terms and conditions remain unchanged except for specified modifications
Important Dates
- Effective Date: July 28, 2025
- Notice Date: July 21, 2025
- Weekly Record Date: Every Wednesday
Impact Assessment
This is a routine product enhancement that provides additional flexibility to investors in the Mirae Asset Liquid Fund. The introduction of weekly IDCW option bridges the gap between daily and monthly payout frequencies, offering investors more choice in income distribution timing. Impact is limited to existing and potential investors of this specific liquid fund scheme.
Impact Justification
Routine product enhancement for mutual fund with limited market-wide impact