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 Mirae Asset FOF schemes are being renamed effective May 6, 2025
- Changes approved by both AMC and Trustee Company boards
- Name changes align with SEBI directive to streamline FOF category schemes
- All other terms and conditions of the schemes remain unchanged
- Notice forms integral part of Scheme Information Documents (SIDs) and Key Information Memorandums (KIMs)
Scheme Name Changes
Old Name: Mirae Asset Equity Allocator Fund of Fund
New Name: Mirae Asset Diversified Equity Allocator Passive FOF
Old Name: Mirae Asset Global Electric & Autonomous Vehicles ETFs Fund of Fund
New Name: Mirae Asset Global Electric & Autonomous Vehicles Equity Passive FOF
Regulatory Changes
The name changes are made pursuant to SEBI letter dated February 6, 2025, aimed at streamlining schemes filed under FOF category with multiple underlying funds.
Compliance Requirements
- Notice cum addendum forms integral part of updated SIDs and KIMs
- All scheme documentation updated to reflect new names
- No action required from existing investors
Important Dates
- Effective Date: May 6, 2025
- Board Approval Date: Prior to April 29, 2025
- Notice Date: April 29, 2025
Impact Assessment
Minimal market impact as this is purely an administrative name change. No changes to investment strategy, portfolio composition, or investor rights. Existing investors can continue with their investments without any action required.
Impact Justification
Administrative name change with no impact on scheme operations or investor holdings