SEBI MF board independence framework

Sun, 17 May 2026 00:00:00 +0000

The SEBI MF board-independence framework is the regulatory structure under the SEBI (Mutual Funds) Regulations, 1996 that prescribes minimum board-independence and governance standards for Indian mutual fund Asset Management Companies (AMCs) and Trustee Companies. The framework requires AMCs and Trustees to maintain a minimum proportion of independent directors on their boards, with specific qualifications, conduct standards, and committee responsibilities. The independence framework is one of the principal investor-protection mechanisms in Indian mutual fund regulation, designed to ensure that AMC and Trustee operations are conducted in the interest of unitholders rather than purely in the interest of sponsors or affiliates.

Statement of Additional Information for Indian mutual funds

Sat, 16 May 2026 00:00:00 +0000

The Statement of Additional Information (SAI) is the AMC-level statutory disclosure document that every Indian mutual fund house must maintain, file with the Securities and Exchange Board of India , and make publicly available, incorporating legal, organisational, governance, financial, accounting, and tax disclosures common to all schemes managed by the AMC. The SAI is the AMC-level counterpart to the Scheme Information Document (SID) (which is scheme-specific) and the Key Information Memorandum (KIM) (which is the point-of-sale summary), together forming the three-part disclosure framework introduced by SEBI Circular SEBI/IMD/CIR No. 9/120982/08 dated 14 January 2008. The SAI is mandated under Regulation 29 of the SEBI (Mutual Funds) Regulations, 1996 and is supplemented by the SEBI Master Circular on Mutual Funds, most recently reissued in May 2024.

AMC Governance on WebNotes

SEBI MF board independence framework

Statement of Additional Information for Indian mutual funds