Description
Mirae Asset Mutual Fund announces name changes for two Fund of Fund schemes effective May 06, 2025.
Summary
Mirae Asset Mutual Fund has announced name changes for two Fund of Fund schemes to streamline schemes filed under FOF category with multiple underlying funds, pursuant to SEBI letter dated February 6, 2025. The changes are effective from May 06, 2025.
Key Points
- Two Mirae Asset Fund of Fund schemes have been renamed
- Changes approved by both AMC and Trustee Company boards
- Effective date: May 06, 2025
- Notice dated April 29, 2025
- Changes made pursuant to SEBI directive dated February 6, 2025
Regulatory Changes
SEBI directive dated February 6, 2025 required streamlining of schemes filed under FOF category with multiple underlying funds, leading to these name changes.
Compliance Requirements
- Notice cum addendum forms integral part of SIDs and KIMs
- All other terms and conditions remain unchanged
- Investors should note the new scheme names for future reference
Important Dates
- SEBI Letter Date: February 6, 2025
- Board Approval: Prior to April 29, 2025
- Notice Date: April 29, 2025
- Effective Date: May 06, 2025
Impact Assessment
Minimal impact as this is purely an administrative name change. No changes to fund objectives, investment strategy, or terms and conditions. Existing investments remain unaffected.
Scheme Name Changes:
Old Names:
- Mirae Asset Equity Allocator Fund of Fund
- Mirae Asset Global Electric & Autonomous Vehicles ETFs Fund of Fund
New Names:
- Mirae Asset Diversified Equity Allocator Passive FOF
- Mirae Asset Global Electric & Autonomous Vehicles Equity Passive FOF
Impact Justification
Administrative name change with no operational impact on fund performance or investor holdings