Investing factsheet AMFI 2024

Revamped factsheet template (2024)

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The revamped factsheet template introduced by AMFI in 2024 expanded the monthly per-scheme disclosure to include additional risk metrics, expanded portfolio breakdowns, and standardised Total Expense Ratio (TER) reporting. The revamp built on the long-standing AMFI standardised factsheet framework to address gaps highlighted by investor advocacy groups, SEBI reviews, and market-conduct findings.

For Indian retail investors, the 2024 revamped factsheet is particularly useful because it surfaces:

  • More detailed risk metrics (downside-only volatility, max drawdown).
  • Top-10 holdings PLUS sector concentration HHI.
  • Concentration risk indicators.
  • Standardised TER bands and historic TER trend.

2024 changes versus prior template

Additional risk metrics

The prior template showed: Sharpe ratio , standard deviation , beta , r-squared .

The revamped template adds:

  • Maximum drawdown : largest peak-to-trough decline over the trailing 3 or 5 years.
  • Sortino ratio : downside-only risk-adjusted return.
  • Capture ratios : upside / downside capture vs benchmark.
  • Recovery time: from max drawdown.

Expanded portfolio breakdown

The prior template showed: top 10 holdings, sectoral allocation.

The revamped template adds:

  • HHI (Herfindahl-Hirschman Index) on sectoral concentration.
  • Top 5 holdings concentration percentage.
  • Bottom 50% holdings count (number of small-weight holdings).
  • For debt schemes: credit-quality matrix vs duration bucket.

Standardised TER reporting

The prior template showed: current TER.

The revamped template adds:

  • Historic TER trend (12-month rolling).
  • TER vs SEBI cap.
  • Direct plan TER discount clearly shown.
  • B30 incremental TER flagged separately per T30/B30 framework .

Tax disclosures

The revamped template includes:

  • Estimated annual taxable distribution (for IDCW-option holders).
  • Indicative LTCG / STCG profile based on portfolio turnover.
  • TDS treatment summary per Section 194K for dividends.

AMFI rationale

The 2024 revamp addressed:

  1. SEBI consumer-protection concerns: Need for richer risk disclosure.
  2. Industry feedback: Investor-advocacy groups requested concentration metrics.
  3. Best-practice alignment: With international templates (UK FCA, US SEC).
  4. Behavioural impact: Pre-decision risk awareness for retail investors.

Implementation timeline

  • Phase 1 (2024 Q1): New template piloted by 5 leading AMCs.
  • Phase 2 (2024 Q2-Q3): Industry-wide adoption.
  • Phase 3 (2024 Q4): Mandatory for all AMCs.

Adoption status

By mid-2025, all major AMCs published factsheets in the revamped format. Some smaller AMCs filed for time extensions. By 2026, industry-wide adoption substantially complete.

See also

External references

References

  1. AMFI revamped factsheet circular (2024).
  2. SEBI master circular on mutual fund disclosure.
  3. AMFI Best Practice Guidelines on factsheet standards.

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