Description
Mirae Asset Mutual Fund announces name changes for two Fund of Fund schemes effective May 6, 2025 to streamline FOF category compliance.
Summary
Mirae Asset Mutual Fund has announced name changes for two Fund of Fund schemes effective May 6, 2025. The changes are made to streamline schemes under the FOF category and comply with SEBI requirements dated February 6, 2025.
Key Points
- Two FOF schemes renamed effective May 6, 2025
- Changes approved by AMC Board and Trustee Company
- Administrative change to comply with SEBI streamlining requirements
- All other terms and conditions remain unchanged
- Notice forms integral part of SID and KIM documents
Regulatory Changes
Scheme name changes implemented pursuant to SEBI letter dated February 6, 2025 for streamlining Fund of Fund category schemes with multiple underlying funds.
Compliance Requirements
- Updated Scheme Information Documents (SID) and Key Information Memorandum (KIM) to reflect new scheme names
- No action required from existing investors
- All other terms and conditions remain unchanged
Important Dates
- Effective Date: May 6, 2025
- Notice Date: April 29, 2025
Impact Assessment
Minimal impact as this is purely an administrative name change. No changes to investment strategy, fund management, or investor holdings. The renaming aligns with SEBI’s streamlining requirements for FOF schemes and adds clarity by including “Passive FOF” designation in the new names.
Impact Justification
Administrative scheme name changes with no impact on fund operations or investor holdings