Description
Mirae Asset Mutual Fund announces name changes for two Fund of Fund schemes effective May 6, 2025 to streamline FOF category schemes.
Summary
Mirae Asset Mutual Fund has announced name changes for two Fund of Fund (FOF) schemes effective May 6, 2025. The changes are made to streamline schemes filed under FOF category with multiple underlying funds, pursuant to SEBI letter dated February 6, 2025.
Key Points
- Two FOF schemes renamed effective May 6, 2025
- Changes approved by AMC Board and Trustee Company
- Aimed at streamlining FOF category schemes with multiple underlying funds
- All other terms and conditions of SIDs and KIMs remain unchanged
- Notice forms integral part of scheme documents
Regulatory Changes
Scheme name changes pursuant to SEBI letter dated February 6, 2025 for streamlining FOF category schemes:
- Mirae Asset Equity Allocator Fund of Fund renamed to Mirae Asset Diversified Equity Allocator Passive FOF
- Mirae Asset Global Electric & Autonomous Vehicles ETFs Fund of Fund renamed to Mirae Asset Global Electric & Autonomous Vehicles Equity Passive FOF
Compliance Requirements
- Notice cum addendum forms integral part of updated SIDs and KIMs
- All existing terms and conditions remain unchanged except scheme names
- Investors to note the revised scheme names for future reference
Important Dates
- Effective Date: May 6, 2025
- Notice Date: April 29, 2025
- SEBI Letter Reference: February 6, 2025
Impact Assessment
Minimal impact as this is purely an administrative name change to comply with SEBI guidelines. No changes to investment strategy, terms, or conditions of the schemes. Existing investors are not required to take any action.
Impact Justification
Administrative name change of mutual fund schemes with no operational impact on investors