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of <h1>SEBI Circular: New Mutual Fund Plans Must Be Separate Schemes if Substantially Different; Requires Pre-Launch Approval and Disclosure.</h1> The circular from SEBI addresses the launch of additional plans under existing mutual fund schemes. It mandates that any new plans with characteristics substantially different from the main scheme, such as portfolio or maturity, should be launched as separate schemes. These plans must adhere to SEBI's disclosure requirements and regulations. The proposal for such plans requires approval from AMC boards and trustees, and detailed information must be submitted to SEBI 21 days before launch. The circular emphasizes transparency, requiring clear communication of plan features, risks, and investment restrictions. These guidelines apply to both past and future additional plans unless confirmed otherwise by SEBI.
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