Groww Mutual Fund (GMF) has announced modifications to the benchmarks of some of its mutual fund schemes. This announcement comes in response to a directive issued by the Securities and Exchange Board of India (SEBI).
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SEBI advised the Association of Mutual Funds in India (AMFI) to provide comprehensive guidelines facilitating actively managed debt-oriented mutual fund schemes to align their reference benchmarks with the PRC matrix-based Tier-1 variant.
Following this guidance, AMFI sent an email to Groww Mutual Fund on February 13, 2024, confirming the need for benchmark changes in the specified schemes.
The affected schemes and their corresponding benchmark adjustments are outlined below:
| Schemes | Existing | Revised |
|---|---|---|
| Groww Dynamic Bond Fund | CRISIL Dynamic Bond B-III Index | CRISIL Dynamic Bond A-III Index |
| Groww Liquid Fund | CRISIL Liquid Debt B-I Index | CRISIL Liquid Debt A-I Index |
| Groww Short Duration Fund | CRISIL Short Duration Debt B-II Index | CRISIL Short Duration Debt A-II Index |
While this move aims to ensure uniformity in benchmarks across actively managed debt-oriented schemes, investors should review their investment portfolios in light of these changes.
If needed, they should seek advice from financial advisors or investment professionals on the potential impact of these changes on the investment strategy.
As per the notice shared by the fund house, the terms and conditions outlined in the Scheme Information Document (SID) and Key Information Memorandum (KIM) remain unchanged.
(Edited by : Amrita)
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