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 Mirae Asset Cash Management Fund), effective July 28, 2025. This addition provides investors with more frequent distribution options alongside existing daily and monthly alternatives.
Key Points
- New Weekly IDCW payout option added to existing Daily and Monthly options
- Weekly IDCW reinvestment option also introduced
- Record date for weekly distributions will be every Wednesday
- Available under both Regular and Direct plans
- Scheme Information Document (SID) and Key Information Memorandum (KIM) updated accordingly
Regulatory Changes
- Updated SID and KIM sections related to Plans and Options
- Modified income distribution framework to include weekly frequency
- Enhanced investor choice with additional payout frequencies
Compliance Requirements
- Fund management company to declare IDCW on weekly basis
- Weekly record date establishment (every Wednesday)
- Updated documentation (SID/KIM) to reflect new options
- Compliance with existing mutual fund regulations for distribution patterns
Important Dates
- Effective Date: July 28, 2025
- Record Date: Every Wednesday for weekly distributions
- Notice Date: July 21, 2025
Impact Assessment
This change provides enhanced flexibility for investors seeking more frequent income distributions from liquid funds. The impact is limited to existing and potential investors of the specific Mirae Asset Liquid Fund, offering better cash flow management options without affecting broader market operations or other securities.
Impact Justification
Addition of new investment option in mutual fund - affects only specific fund investors