MUTUAL FUNDS
Nippon Life India AMC announces change in provisions of SID and KIM of passive funds
Jul-01-2022

Nippon Life India Asset Management Company (AMC) has announced that existing norms for Debt ETFs/ Index Funds issued vide SEBI Circular No. SEBI/HO/IMD/DF3/CIR/P/2019/147 dated November 29, 2019 shall be rescinded and provisions as mentioned in SEBI Circular SEBI/HO/IMD/DOF2/P/CIR/2022/69 dated May 23, 2022 will be applicable. Further, pursuant to SEBI Circular SEBI/HO/IMD/DOF2/P/CIR/2022/69 dated May 23, 2022 on ‘Development of Passive Funds’, Nippon India Mutual Fund (NIMF)/ Nippon Life India Asset Management (NAM India) has proposed to carry out following changes in certain NIMF schemes with effective from July 01, 2022: (a) Creation Unit & Minimum Application Amount during ongoing offer directly from Mutual Fund (b) Subscriptions/ Redemptions for all NIMF ETF schemes (c) Rebalancing period for NIMF Equity ETFs/ Index Funds (d) Investor Education and Awareness Charges for NIMF ETFs/ Index Funds/ Fund of Funds (FOFs) schemes (e) Tracking Error for NIMF ETF/ Index Fund schemes (f) Tracking Difference for NIMF ETF/ Index Fund schemes (g) Incentives for Market Maker.

This addendum forms an integral part of Scheme Information Document (SID) and Key Information Memorandum (KIM) of the above mentioned Scheme(s) of NIMF and all the other terms and conditions of the aforesaid documents read with the addenda issued from time to time will remain unchanged.

  RELATED NEWS >>