Change in ELSS names
According to the fund houses, all other terms and conditions of the SID/KIM of these schemes remain unchanged. The notice-cum-addendum by the fund houses forms an integral part of the SID and KIM of the above-mentioned schemes, as amended from time to time.
“This change is generally to bring uniformity across the names and the category. This guideline by Sebi will bring parity on the name of the schemes. Most of the fund houses have it in other categories, now they are bringing parity in this category,” says Chokkalingam Palaniappan, Director of Prakala Wealth, a Chennai-based advisory firm.
“This communication will just change the name of the scheme, and will not bring any material change in the scheme assets,” he added.