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TMI BlogReview of advertisement guidelines for Mutual FundsX X X X Extracts X X X X X X X X Extracts X X X X ..... isements, it has been decided that: 1. Performance of Mutual Fund schemes shall be required to be advertised in terms of CAGR for the past 1 year, 3 years, 5 years and since inception; in place of current requirement to publish scheme's returns for as many twelve month periods as possible for the past 3 years. 2. Performance advertisement of Mutual Fund schemes should provide information based on period computed from last day of month-end preceding the date of advertisement, instead of current requirement of publishing such information based on last day of preceding quarter-end. 3. Performance of other schemes managed by the fund manager shall be disclosed in a summarized manner, by providing performance of such other schemes managed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d be disclosed in a footnote. 3. When a scheme has been in existence for more than 1 year but less than 3 years or 5 years, the same shall be mentioned as a footnote in the performance advertisement of the Mutual Fund scheme". b. It is also reiterated that, as per Clause C(4) of SEBI circular dated August 22, 2011; where the scheme has been in existence for less than one year, past performance shall not be provided. c. Further, in respect of disclosing performance of other schemes managed by the fund manager, Clause C(7) of SEBI circular dated August 22, 2011 shall now be read as under: "When the performance of a particular Mutual Fund scheme is advertised, the advertisement shall also include the performance data of all the other s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mance of other schemes managed by the concerned fund manager is provided at Annexure A." B. Celebrity endorsements of Mutual Funds at industry level: 1. SEBI vide circular dated September 13, 2012 mandated Mutual Funds/AMCs to annually set apart at least 2 basis points on daily net assets for investor education and awareness initiatives. 2. Certain portion of the 2 basis points of daily net assets is being set aside by Mutual Funds/AMCs for investor education and awareness initiatives at industry level. 3. In this respect, it has been decided to permit celebrity endorsements at industry level, for the purpose of increasing awareness of Mutual Funds as a financial product category. However, such celebrity endorsements of Mutual Funds ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ral Manager Tel no.: 022-26449232 Email: [email protected] Annexure A Indicative format of disclosure on performance of other schemes managed by the fund manager Name of Fund Manager: Period 1 year 3 year 5 year Scheme return % Benchmark return (%) Scheme return % Benchmark return (%) Scheme return % Benchmark return (%) Scheme 1 Scheme 2 Scheme 3 Scheme 4 Scheme 5 Scheme 6 Note: a. The concerned fund manager manages X number of schemes of the concerned Mutual Fund. b. In case the number of schemes managed by a fund manager is more than six, performance data of other scheme the top 3 and bottom 3 schemes managed by fund manager has been provided herein. c. Period for which scheme's performance has been provided is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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