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) on the BSE StAR MF platform, effective July 28, 2025. This addition provides investors with more frequent payout options alongside existing daily, monthly, and reinvestment alternatives.

Key Points

  • Weekly IDCW payout option added to existing daily and monthly options
  • Both Regular and Direct plans will offer the new weekly payout facility
  • Record date for weekly IDCW will be every Wednesday
  • The scheme will endeavor to declare IDCW on a weekly basis
  • All existing terms and conditions remain unchanged except for the added payout frequency

Regulatory Changes

The Scheme Information Document (SID) and Key Information Memorandum (KIM) have been amended to reflect the introduction of the weekly payout option. The updated structure now includes:

  • Growth Option
  • IDCW Option with sub-options for both payout and reinvestment
  • Weekly payout of Income Distribution cum capital withdrawal option
  • Weekly reinvestment of Income Distribution cum capital withdrawal option

Compliance Requirements

  • Updated SID and KIM documents are effective immediately
  • The notice forms an integral part of the amended scheme documents
  • Investment managers must adhere to the weekly declaration schedule with Wednesday record dates

Important Dates

  • Effective Date: July 28, 2025
  • Record Date: Every Wednesday for weekly IDCW
  • Notice Date: July 21, 2025

Impact Assessment

This is a routine product enhancement that provides investors with additional flexibility in receiving distributions from the liquid fund. The impact is minimal as it adds to existing options without changing fund fundamentals. The weekly frequency option may appeal to investors seeking more regular cash flows than monthly but less frequent than daily distributions.

Impact Justification

Routine product enhancement by mutual fund company adding weekly payout frequency option