Scheme Information Document (SID) is prepared by an AMC for a particular Mutual Fund scheme and submitted to SEBI for approval.It contains exhaustive details of the scheme, which the AMC modifies or updates from time to time as mandated by SEBI.
What Is Scheme Information Document (SID)
At the launch of a Scheme, the AMC uploads the draft SID at SEBI website. After approval from SEBI, the SID is uploaded in AMFI’s website two days before the opening of the issue.The same is also available on AMC’s website. It is also suitably colour coded as per the risk.The SID is also updated regularly by the AMC as per duration and occasions as mandated by SEBI.
Information in Scheme Information Document (SID)
The Mutual Fund SID is prepared as per format is given by SEBI and it starts with a standard clause. Both can be seen in the infographic.The Mutual Fund SID contains the following information-
- Fundamental attributes of the scheme to include fees, asset allocation, objective etc.
- details of the people managing the scheme.
- benchmark, load, past performance.
- risks involved in the scheme
- details of the various office’s addresses
The cover page of the Scheme Information Document (SID) has a standard clause which is meant for the investor’s information–
What should an Investor look for in a Scheme Information Document (SID)
The Scheme Information Document (SID) is an exhaustive document that contains all the details of the scheme and sometimes it runs into 100s of pages. The most important question that comes to the mind of the investor is what to read in the Scheme Information Document (SID). The following gives an idea of that-