Description
Kotak Mutual Fund revises scheme names for six fund of fund schemes effective August 30, 2025 following SEBI framework for FoF structures.
Summary
Kotak Mutual Fund is changing the names of six Fund of Fund schemes on NSE MF Invest platform effective August 30, 2025. This change follows SEBI circular dated February 6, 2025 introducing a framework for FoF schemes with multiple underlying funds to enhance transparency and risk alignment.
Key Points
- Six Kotak Mutual Fund schemes undergoing name changes
- Changes effective from August 30, 2025
- Follows SEBI framework for Fund of Fund structures
- Includes sub-categorization alignment for eligible FoF schemes
- One scheme (Kotak Multi Asset Allocator Fund of Fund-Dynamic) has feature changes beyond name
Regulatory Changes
- Implementation of SEBI circular SEBI/HO/IMD/IMD-RAC-1/P/OW/2025/4102/1 dated February 6, 2025
- AMFI communication dated June 30, 2025 regarding FoF framework
- New categorization system for overseas and hybrid Fund of Fund schemes
Compliance Requirements
- NSE MF Invest platform members must note the scheme name changes
- Updated scheme names to be reflected in all platform operations from August 30, 2025
- Reference to attached notice cum addendum from Kotak Mutual Fund for detailed information
Important Dates
- August 30, 2025: Effective date for all scheme name changes and feature modifications
Impact Assessment
- Administrative impact on NSE MF Invest platform operations
- Affects investor identification and transaction processing for these schemes
- Enhanced transparency and risk alignment through new FoF framework implementation
- Kotak Multi Asset scheme has investment scope change (removes offshore funds, retains domestic and Gold ETFs only)
Impact Justification
Affects multiple mutual fund schemes but is primarily administrative change following regulatory framework