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of <h1>SEBI Revamps Mutual Fund Documents: New Format for Better Readability, Effective June 1, 2008, Annual Updates Required.</h1> The Securities and Exchange Board of India (SEBI) has revised the format for Offer Documents (ODs) and Key Information Memorandums (KIM) for mutual fund schemes to enhance readability. The new format divides the OD into a Statement of Additional Information (SAI) and a Scheme Information Document (SID). All mutual funds must adopt this format for documents filed on or after June 1, 2008. Existing schemes must transition to the new format within 12 months. Updates to SID and KIM are required annually, with specific procedures for changes. SEBI mandates that these documents be readily available to investors and filed with SEBI in both hard and soft copies.
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