Mutual Funds SID KIM SAI disclosure

SID, KIM, SAI: mutual fund scheme documents

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SID (Scheme Information Document), KIM (Key Information Memorandum), and SAI (Statement of Additional Information) are the three principal SEBI-mandated disclosure documents that every Indian mutual fund scheme must publish. Together they form the legal disclosure foundation for the scheme: SID is the comprehensive scheme-level document, KIM is the condensed summary, and SAI is the AMC-level common-information document referenced by all schemes from that AMC.

For Indian retail investors, these documents are rarely read in full but form the legal contract between investor and scheme. Material scheme changes require SID amendments via NFO addendum .

SID: Scheme Information Document

The principal scheme-specific disclosure document, covering:

  • Scheme name, category, type (open / close-ended).
  • Investment objective and strategy.
  • Asset allocation pattern per SEBI October 2017 categorisation .
  • Risk factors (specific to the scheme).
  • Fund manager details and benchmark.
  • TER structure (direct vs regular).
  • Exit load schedule.
  • Subscription / redemption procedures.
  • Tax implications.

Updated periodically via NFO addendum when scheme features change.

KIM: Key Information Memorandum

The condensed summary of the SID, typically:

  • 4 to 8 pages.
  • Highlights investment objective, asset allocation, TER, exit load, fund manager.
  • Carried with application forms.
  • Investor signs to confirm they have read the KIM.

SAI: Statement of Additional Information

The AMC-level document referenced by all schemes from that AMC:

  • AMC organisation structure (trust framework ).
  • Sponsor details and sponsor eligibility .
  • Trustee company details.
  • Investment process common to all schemes.
  • Risk management framework.
  • Compliance and audit framework.
  • Updated periodically per SEBI requirements.

Update cadence

  • SID: Updated when scheme features change (TER, exit load, fund manager, investment universe).
  • KIM: Updated alongside SID changes.
  • SAI: Updated periodically by AMC; typically annually.

Investor use

  • Review SID before initial subscription for new scheme.
  • Re-check SID amendments via NFO addenda .
  • Reference SAI for AMC-wide policies.

See also

External references

References

  1. SEBI (Mutual Funds) Regulations 1996.
  2. SEBI master circular on SID/KIM/SAI standards.
  3. AMFI Best Practice Guidelines.

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The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

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