MUTUAL FUNDS
JM Financial AMC announces clarification on investment in units of REITs
May-06-2026

JM Financial Asset Management (AMC) has announced Addendum to the Scheme Information Document (‘SID’) and Key Information Memorandum (‘KIM’) of the Equity & Hybrid Schemes (‘the Schemes’) and Statement of Additional Information (‘SAI’) of JM Financial Mutual Fund.

JM Financial Mutual Fund has informed that, pursuant to SEBI Master Circular of Mutual Funds dated March 20, 2026 (‘SEBI Master Circular’) pertaining to Investments in units of Real Estate Investment Trusts (REITs) / Infrastructure Investment Trust (InvITs), following changes will be carried out in the Schemes of the Mutual Fund with immediate effect: 

I. Any investment made by the Schemes in units of REITs shall be considered as investment in equity related instruments. Investments in InvITs shall continue to be classified as hybrid instruments for the purpose of investments by the Schemes. Accordingly, relevant sections of the SID and KIM of the Schemes will be amended suitably to reflect the regulatory changes including the investment limits mentioned in the SEBI Master Circular.

II. In terms of SEBI (Mutual Fund) Regulations, 2026, 'equity related instruments' include convertible debentures, convertible preference shares, warrants carrying the right to obtain equity shares, equity derivatives, units of Real Estate Investment Trust and such other instrument as may be specified by SEBI.

In addition to the above changes, Market Risk, Interest Rate Risk, Liquidity Risk, Property-Specific Risk, Regulatory and Taxation Risk, Concentration Risk, Inflation Risk, Management and Operational Risk and Risk of lower than expected distributions shall be inserted where investments are permitted in equity and equity related instruments of the Schemes. 

Further, in accordance with SEBI Master Circular, above changes relating to the reclassification of REITs as ‘equity related instruments’ shall not be considered as a fundamental attribute change. 

This Notice-cum-Addendum forms an integral part of SID & KIM of the Schemes and SAI of the Mutual Fund, as amended from time to time. All the other terms and conditions of the SID & KIM of the Schemes and SAI of the Mutual Fund will remain unchanged.


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