Can a mutual fund change the terms of the scheme of offer document ?

Yes. There is no change to the terms or nature of the scheme. These are known as the fundamental attributes of the scheme. structure, investment pattern, etc. No communication can be sent to unitholders and an advertisement in the English language newspaper and one English daily with nationwide circulation is placed. If they don't want to continue the scheme, the unitholders can opt out at the current NAV and without incurring any exit charges. Mutual funds must also follow the same procedure when converting the scheme from a closed-ended to an open-ended scheme or in case of change in sponsor.