A new fund offer is a first time subscription offering  for any new fund offered by a new/existing assset management company.
Funding varies from one fund to another.

A new fund offer document is issued by an asset management company when it is offering investor's a new fund.

A new fund offer has an open and a close date, during these dates only an investor can subscribe for the new fund offer.

This is the date from which the investors can offer their units for repurchase to the scheme (at the re-purchase price); or buy new units of the scheme (at the sale price, which is the NAV itself). The AMC announces sale and re-purchase prices from the scheme re-opening date

The role of scheme information document is to provide prosepective investors information about the scheme such as invesment objective, pattern of asset allocation, risk involved and other important information.

The scheme information document consists of important information regarding the scheme such as the investment objective, the pattern of asset allocation, risk involved, investment approach, fund manager, benchmark index, fees and expenses, etc.

(A) Regular updates

 If a scheme is launched in the first 6 months of the financial year (say, May 2017), then the first update of the SID is due within 3 months of the end of the financial year (i.e. by June 2018). If a scheme is launched in the second 6 months of the financial year (say, December 2017), then the first update of the SID is due within 3 months of the end of the next financial year (i.e. by June 2019). Thereafter, SID is to be updated every year.

(B) Need-based updates 

In case of change in the fundamental attributes, the SID has to be updated immediately after the lapse of the time period given to existing investors to exit the scheme. In case of any other change- 
1) It will be printed on a separate piece of paper (addendum) and distributed along with the SID, until the SID is updated. 
2) If a change is superseded by a further change (for instance, change in load), then addenda are not required for the superseded change i.e. addenda is only required to disclose the latest position. 
3) The change is to be advertised in an English newspaper having nation-wide circulation, and in a newspaper of the language of the region where the head office of the mutual fund is located. 
4) The change is to be mentioned in the website of the mutual fund.

The role of statement of additional information is to state any important information which might have not been stated in the original scheme information document.

A statement of additional information (SAI) contains information about a mutual fund that may not be found in its original prospectus. The SAI is used to disclose more detailed information and updated financials that may not be included in the broader prospectus.

Regular update is to be done by the end of 3 months of every financial year. Material changes have to be updated on an ongoing basis and uploaded on the websites of the mutual fund and AMFI.

A concise version of scheme information document is known as key information memorandum. It contains all the important information related to the funds on offer and the asset management company.

Contents of a KIM usually include invesment objective, risk involved and other important information which varies from one fund to another.

KIM is to be updated at least once a year. As in the case of SID, KIM is to be revised in the case of change in fundamental attributes. Other changes can be disclosed through addenda attached to the KIM