Statement of Additional Information (SAI) is a document which gives out statuary information about all the schemes of an AMC.
What is Statement of Additional Information (SAI)?
While in practice, SID and SAI are separate documents, but legally the SAI is part of the SID.The Statement of Additional Information (SAI)has to be prepared strictly as per the prescribed format by the SEBI and should contain disclosures by the AMC which it deems necessary and important for the investors.The language of the SAI has to be very simple lucid and precise so that a common investor can understand it.It is uploaded in AMFI’s website as also with AMC’ website.
Contents of Statement of Additional Information (SAI)
- Financials of AMC in a condensed form.
- Investment valuation norms.
- Tax implications.
- Grievance redressal for investors.
- Details of complaints/grievances.
- Rights of investors.
- Methods of applying for the schemes.
- All the details of the various participants of the Mutual Fund, like Sponsor, Trustee, custodians, AMC, RTA’s, Auditors, Accountant, Bankers etc.