Professional Documents
Culture Documents
(A 3 year close-ended equity oriented Scheme with an automatic conversion JM Financial Asset Management Private Limited
into an open-ended equity oriented Scheme on maturity) Corporate Office : 5th Floor, A-Wing, Laxmi Towers, Bandra-Kurla Complex,
Mumbai - 400 051. Tel. No.: (022) 39877777 •Fax Nos.: (022) 26528377-78
Email: mktg@jmfinancial.in •Website: www.JMFinancialmf.com
NEW FUND OFFER COMMENCES ON : 19/11/2007 KEY INFORMATION MEMORANDUM & APPLICATION FORM
NEW FUND OFFER ENDS ON : 18/12/2007 An offer for units @ Rs. 10/- each during the New Fund Offer period Serial No: AI -
DISTRIBUTOR INFORMATION FOR OFFICE USE ONLY
ARN Code Sub-Agent/Broker Code Collection Centre’s Serial No. Date of Receipt Time of Receipt
1. EXISTING UNIT HOLDER/S (Please fill in your details mentioned below and proceed to section 5) Folio No.
Scheme Name
2. NEW APPLICANT INFORMATION (It is mandatory to submit PAN proof for all investments failing which application is liable to be rejected. In case, an investor does not have PAN, evidence
of having applied for PAN should be submitted. ) (Refer instruction no. 8)
(To be filled in block letters. Use one box for one alphabet, leaving one box blank between name and surname)
Full Name of Sole/1st Applicant/Minor/Karta of HUF/Non-individual/Partner in case of Partnership Firm/
Proprietor in case of Proprietorship Firm: Date of Birth
D D M M Y Y Y Y
Full Name of Guardian (in case of Minor) Relationship with Minor [Pl. 4]
Mother Father Legal Guardian
(with address
PAN Enclosed: PAN Card copy, duly verified Acknowledgement for having applied for PAN Form 60/61 proof)
Address (DO NOT REPEAT NAME) in full of Applicant/Parent OR Guardian of Minor/Indian address in case 1st Applicant is NRI/FII (Post Box No. alone is not sufficient)
CITY/LOCATION PIN
Mobile No. I/We wish to receive SMS alerts in addition to physical statement Yes No (Refer instruction no. 18)
E-mail Id: . I/We wish to receive account related information & other communications via e-mail Yes No (Refer instruction no. 18)
Full Name of Guardian (in case of Minor) Relationship with Minor [Pl. 4]
Mother Father Legal Guardian
PAN Enclosed: PAN Card copy, duly verified Acknowledgement for having applied for PAN Form 60/61 (with address
proof)
Full Name of Third Applicant: Date of Birth
D D M M Y Y Y Y
Full Name of Guardian (in case of Minor) Relationship with Minor [Pl. 4]
Mother Father Legal Guardian
PAN Enclosed: PAN Card copy, duly verified Acknowledgement for having applied for PAN Form 60/61 (with address
proof)
Mode of Holding [Pl. 4 ] Occupation of the 1st Applicant [Pl. 4] Status/Category of the 1st Applicant [Pl. 4]
1. Single 1. Business 5. Retired 10. Others 1. Resident Individual 5. AOP/BOI 9. Trust 13. Government Body
2. Professional 6. Student (pl. specify) 2. On behalf of minor 6. Partnership Firm 10. Society 14. Financial Institution
2. Joint*
3. Agriculturist 7. Housewife 3. HUF 7. Proprietorship Firm 11. NRI 15. Banks
3. Either or Survivor/s
4. Private sector 8. Public Sector/Govt. service 4. Company 8. Body Corporate 12. FIIs 16. Others (pl.specify)
(* Default, in case of ambiguity
when applicants are more than one ) service 9. Forex Dealer Listed Unlisted _______________
$ $
JM Financial Asset Management Private Limited
A CLOSE ENDED EQUITY ORIENTED SCHEME Corporate Office: 5th Floor, A-Wing, Laxmi Towers, Bandra-Kurla Complex,
(A 3 year close-ended equity oriented Scheme with an automatic conversion into an Mumbai - 400 051. Tel. No.: (022) 39877777 •Fax Nos.: (022) 26528377-78
Email: mktg@jmfinancial.in • Website: www.JMFinancialmf.com
open-ended equity oriented Scheme on maturity)
ACKNOWLEDGEMENT SLIP
An offer for units @ Rs. 10/- each during the New Fund Offer period Serial No.: AI -
(To be filled in by the Investor)
Choice of Options/ Amount Paid (Rs.) Collection Centre’s Stamp
Cheque/DD No.
Received from : Mr./Ms./M/s. Sub-Options+ & Receipt Date and Time
Dated :
Rs. ( in Figures)
Dividend Option Bank & Branch :
Rs. ( in words)
Payout *
Reinvestment**
Pin Code Cheque/DD is subject to
Growth Option*
realisation
+
Please select the appropriate option/sub-option under offer. *Default option/sub-option (in case of no information or ambiguity) ** Dividend reinvestment facility will be available only after the
Scheme is converted into an open – ended scheme on maturity.
Serial No: AI -
3. BANK PARTICULARS (It is mandatory to furnish bank particulars failing which application shall be rejected)
Name of Bank
Bank Address CITY PIN
Account Type : Savings Current NRE NRO FCNR Account No.:
(This is a 9 digit no. mentioned next
MICR Code : to the cheque no. on your cheque)
(Please enclose a cancelled/xerox copy of the cheque for the above A/c. No.)
Address
In case, nominee is a minor
Name of Guardian Relationship with Minor
Address of Guardian
Signature of Nominee / Guardian in case of Minor :
6. INVESTMENT DETAILS (Refer instruction No. 5)
+
CHOICE OF OPTION/SUB-OPTION Dividend Option Payout* Reinvestment** Growth Option*
+
Please select the appropriate option/sub-option under offer. *Default option/sub-option (in case of no information or ambiguity) ** Dividend reinvestment facility will be available only after the
Scheme is converted into an open – ended scheme on maturity.
7. PAYMENT DETAILS: Please draw Cheque / DD in favour of ”JM AGRI & INFRA FUND “ (Refer instruction nos. 6 & 7)**. Minimum investment amount per application for each
Option/Sub-Option is Rs. 5,000/- and in multiples of Re. 1/- thereafter. Please ensure there is only one Cheque / DD per Option/Sub-Option.
Cheque /DD No. Gross Amount (Rs.) DD Charges (Rs.) Net Amount (Rs.) Bank & Branch Account Type
(Savings/Current/NRE/NRO/FCNR)
9. LIST OF DOCUMENTS ATTACHED (Please mention below the documents attached with the form)
1. 5 Total Nos. of attachments
2. 6.
To be filled in by To be verified by
3. 7. applicant office
4. 8.
$ $
Accompanying documents
CHECKLIST Please submit the following documents with your application (where applicable). All documents should be original / true copies certified by a Director/
• Please ensure that your Application Form is Trustee/Company Secretary/Authorised Signatory/Notary Public.
Complete in all respects & signed by all applicants Documents Individual Companies Societies Partnership Investments Trusts NRI Flls
Name, Address and Contact Details are mentioned in full. Firms through POA
Bank Account Details are entered completely and correctly. Resolution/Authorisation to invest 4 4 4 4
Permanent Account Number (PAN) of all Applicants is mentioned for all
List of Authorised Signatories with
investments. In case, an investor does not have PAN, evidence of having Specimen signature(s) 4 4 4 4 4 4
applied for PAN to be submitted. Memorandum & Articles of Association 4
Appropriate Option is selected. If the Dividend Option is chosen, Dividend Trust Deed 4
Payout or Reinvestment is indicated.
Bye-laws 4
If units are applied for jointly, Mode of Operation of account is indicated.
• Proof of Identity & Address is submitted. Partnership Deed 4
• Investment Cheque/DD is drawn in favour of “JM AGRI & INFRA FUND”, dated Overseas Auditors’ Certificate 4
and signed. Notarised Power of Attorney 4
• Application Number is mentioned on the reverse of the Cheque/DD. Bank confirmation of Non-Resident
• Documents, as applicable, are submitted along with the Application Form. Account Type/FIRC/Approval from FIPB 4
Proof of Identity 4 4
Proof of Address 4 4 4 4 4 4 4 4
Registrar: Karvy Computershare Private Limited
Karvy Plaza, H. No. 8-2-596, Avenue 4 Street No. 1, Banjara Hills, Hyderabad 500 034 • Tel No.: 040 2331 2454 / 2332 0251 / 751 Fax No.: 040 - 2331 1968 E-mail: services_jmf@karvy.com/distributor@jmfinancial.in
Note : All future communication in connection with this application should be addressed to the Registrar at the address given above, quoting full name of First/Sole Applicant, the Application Serial Number, the
name of the Scheme, the amount invested, date and the place of the Collection Centre / Investor Service Centre where application was lodged.
JM AGRI & INFRA FUND
A CLOSE ENDED EQUITY ORIENTED SCHEME
(A 3 year close-ended equity oriented Scheme with an automatic conversion into an open-ended equity oriented Scheme on maturity)
INSTRUCTIONS TO INVESTORS FOR FILLING UP THE APPLICATION FORM
1. Please read the Offer Document containing the terms of offer. Your attention is particularly drawn to the sections on “Prevention of Money Laundering” and “Know Your Customer”. All applicants are deemed to have
accepted the terms upon filling the application form and tendering the payment.
2. The application form is for Resident and Non Resident Indian (NRI) investors and should be completed in English in BLOCK Letters. Please (4) in the appropriate box, wherever boxes have been provided.
3. The Signature(s) may be in English or in any of the Indian languages specified in the Eighth Schedule of the Constitution of India. Thumb impressions must be attested by a Magistrate or a Notary Public or a Special
Executive Officer under his/her official seal. Applications by minors should be signed by their guardians. In case of HUF, the Karta should sign on behalf of the HUF. In case of other non-individual investors, authorized
signatories should sign under their official seal and designation.
4. Application form incomplete in any respect or not accompanied by the requisite documents and/or Cheque or Demand Draft (DD) for the amount payable are liable to be rejected and the money paid will be refunded
without any interest thereon. An application may be accepted or rejected at the sole and absolute discretion of the Trustee, without assigning any reason whatsoever.
5. Investors are requested to indicate their choice of Plans / Options / Sub-options. If no indication in the relevant box is given, the investment will be deemed to be for the Growth Option. If the mode of payment of dividend
is not indicated, the choice will be deemed to be payout. Dividend reinvestment facility will be available only after the Scheme is converted into an open – ended scheme on maturity.
6. Mode of Payment: • The Cheque/DD should be drawn in favour of the “JM AGRI & INFRA FUND” and crossed “Account Payee Only”. The Cheque/DD should be payable locally at the centre where the application is deposited.
The Cheque / DD should be drawn on any Bank which is situated at and is a member / sub-member of the Bankers’ Clearing House. Cheques / DDs drawn on a Bank not participating in the Clearing House will not be
accepted. • The application form number should be mentioned on the reverse of the Cheque/DD that accompanies the application. • Investors residing in centres, where the JM Financial Mutual Fund Investor Servicing
Centres (ISCs) do not have any collection arrangement, are requested to make payment by DDs. In respect of individual investors, DD charges would be borne by the Asset Management Company (AMC) only where
the AMC does not have a branch / ISC or other collection facilities. In respect of non-individual investors, DD charges on one application upto Rs. Ten Lacs, per investor, will be borne by the AMC, during the NFO. SBI
DD charges are treated as standard DD charges. However, if the AMC decides to maintain a table of standard DD charges, it may extend the benefit of higher of the DD charges mentioned above, to the non-individual
investor. The AMC in the normal course will not reimburse the DD charges. The AMC will process the application for eligible number of units after adding permissible DD charges, if applicable. In the event that DD amount
with permissible DD charges is not sufficient to allot minimum number of units, the AMC will refund the amount represented by the instrument deposited. • Payments by Stockinvests/ Outstation Cheques/Outstation
Drafts are liable to be rejected in the normal course.
7. For NRI Investors: • Repatriation Basis : • Payments by NRIs / FIIs and Persons of Indian Origin (PIOs) residing abroad, may be made by way of Indian Rupee drafts purchased abroad or by way of cheques drawn on
Non- Resident External Accounts (NRE Accounts) payable at par at Mumbai. Payments can also be made by means of Rupee drafts payable at Mumbai and purchased out of funds held in NRE Account / Foreign Currency
Non Resident (FCNR) Account. • In case of Indian Rupee drafts purchased abroad or subscription through NRE / FCNR Account, an account debit certificate from the bank issuing the draft confirming the debit/ Foreign
Inward Remittance Certificate (FIRC) should be enclosed. • Non-Repatriation Basis: NRIs/PIOs investing on a non-repatriable basis may do so by issuing Cheque / DD, debiting Non- Resident Ordinary (NRO) accounts.
8. Statutory Details: In accordance with Circular dated April 27, 2007 issued by the Securities and Exchange Board of India (“SEBI”), Permanent Account Number (“PAN”) issued by the Income Tax authorities will be
used as the sole identification number for all investors (existing and prospective) transacting in the securities market, including mutual funds, irrespective of the amount of transaction, with effect from July 02, 2007.
SEBI vide its Circular dated June 25, 2007 has further clarified that until December 31, 2007, the existing and potential investors not having PAN , should apply for PAN immediately and applications for investment
should be accompanied with the evidence of having applied for PAN. In view of the above, with effect from July 2, 2007, it is mandatory for all existing and prospective investors (including joint holders, guardians of
minors, NRIs etc) to enclose a certified copy of PAN card or a copy of the evidence of having applied for PAN Card, along with the application for investing in the schemes of JM Financial Mutual Fund. Accordingly all
new and existing investors shall furnish a certified copy of PAN card while investing in JM Financial Mutual Fund Schemes and those investors who do not have PAN Card may proceed as under :
1. For investment amount less than Rs. 50,000 – A copy of the evidence of having applied for PAN (acknowledged copy of Form 49A) until the PAN is received. Upon receipt of PAN, furnish certified copy of PAN, with
respective folio numbers to Karvy Computershare, for updation in their records.
2. If the investment is Rs 50,000/- or more - A copy of the evidence of having applied for PAN (acknowledged copy of Form 49A) and Form 60 along with proof of address, until PAN is received.
The certification of the PAN verification from the original PAN card/ letter can be done by the distributor/ broker through whom the transaction is done if PAN proof is self-attested by investor, Bank Manager, notary,
officials of JM Financial Mutual/ Investor Service Centres of Karvy Computershare Pvt. Ltd.
In case, the investor does not confirm to the above requirement of submission of verified copy of PAN or produces original PAN proof for verification or the PAN details as per furnished verified copy of PAN proof
does not match with the Website of Income Tax Deptt as prescribed by SEBI, the AMC reserves the right to reject the application before allotment and refund the investment amount without any interest.
In case of inadvertent allotment, the AMC reserves the right to refund the investment amount, without any interest.
9. Documents required : In case of an application under Power of Attorney or by a Limited Company, Body Corporate, Registered Society, HUF, Trust or Partnership Firm, etc. the relevant Power of Attorney or the relevant
resolution or authority to make the application as the case may be, or duly certified copy thereof, along with the Memorandum and Articles of Association / Bye-laws / HUF Deed / Trust Deed / Partnership Deed etc.
must be lodged alongwith the application form.
10. Systematic Investment Facility (SIF) {popularly known as Systematic Investment Plan (SIP)} / Systematic Withdrawal Plan (SWP) / Systematic Transfer Facility (STF) : This facility will be available to the investors
of the Scheme subsequent to its conversion into an open-ended scheme upon maturity.
11. Applicants should indicate their status/category by ticking the appropriate box. Applications without a tick in the ‘Status/ Category’ box will be considered as investment by “Others” and applicable tax if any, will
be deducted / payable.
12. Applicants should specify the mode of holding. In case of joint holders, the first named holder shall receive all the Account Statements, dividend/ redemption/refund warrants and any other correspondence sent from
time to time. In case of more than one investor, where the mode of holding is not specified, it would be treated as joint holding.
13. Duly completed application forms alongwith the payment instrument may be submitted on any working day at any of the Collection Banks during the NFO. The addresses of Collection Banks /JM Financial MF Investor
Service Centers(ISCs) are provided in the Key Information Memorandum.
14. No receipt will be issued for the application money. The Collection Banks/ ISC will stamp and return the acknowledgment slip in the application form, to acknowledge receipt of the application.
15. If you are an existing unitholder, please complete your details at section 1 and proceed to section 5.
16. In case of investment(s) in the scheme through switch-in(s) from any other scheme(s) of the fund, the proceeds thereof will be credited to the scheme as per current applicable service standards for switched-out
schemes.
17. Applications, complete in all respects with valid documentation, received through post/courier within reasonable period of time from the closure of the New Fund Offer period will be accepted.
18. Mobile / E-mail Communication
Unitholders can obtain financial and non-financial information about their transactions e.g. sale, purchase, dividend declarations, etc. through “SMS Alerts.” This facility is offered free of cost to all unitholders whose
mobile numbers are registered with Fund / who register themselves for the facility by writing to the Registrar and Transfer Agent, mentioning their folio numbers and mobile numbers. Account Statements / Annual
Reports, etc. can be sent to each Unit holder by courier / post / e-mail. Unit holders who have opted to receive these documents by e-mail will be required to download and print the documents after receiving e-mail
from the Mutual Fund. Should the Unit holder experience any difficulty in accessing the electronically delivered documents / sms alerts, the Unit holder shall promptly advise the Mutual Fund to enable the Mutual
Fund to make the delivery through alternate means. In case of non-receipt of any such intimation of difficulty within 24 hours from receiving the e-mail / sms alert, it will be regarded as receipt of e-mail / sms alert
by the Unit holder. It is deemed that the Unit holder is aware of all security risks including possible third party interception of sms alert / e-mail and contents of the sms alerts / documents becoming known to third
parties. The monthly / quarterly factsheets shall be displayed at the website of the Mutual Fund. The Unit holders can request for a copy of the Newsletter by post / e-mail. The AMC would arrange to dispatch these
documents to the Unit holder concerned.
19. Direct Credit Facility
The AMC will credit the investor’s account with redemption/ dividend proceeds if the bank mandate registered for the account is in any of the following banks with which the AMC has direct credit facility:
1 - ABN Amro Bank 2 - Centurion Bank of Punjab 3 - Citibank 4 - Deutsche Bank 5 - Development Credit Bank 6 - HDFC Bank 7 - HSBC Ltd. 8 - ICICI Bank 9 - Indusind Bank 10 - ING Vysya Bank 11 - Kotak Mahindra
Bank 12 - Stanchart Bank 13 - UTI Bank & 14 - Yes Bank.
NOMINATION
• The nomination can be made only by individuals applying for / holding units on their own behalf singly or jointly. Non-individuals including Society, Trust, Body Corporate, Partnership Firm, Karta of Hindu Undivided Family,
holder of Power of Attorney cannot nominate. • A minor can be nominated and in that event, the name and address of the guardian of the minor nominee shall be provided by the unitholder. Nomination can also be in favour
of the Central Government, State Government, a local authority, any person designated by virtue of his office or a religious or charitable trust. • The Nominee shall not be a Trust, other than a Religious or Charitable Trust,
Society, Body Corporate, Partnership Firm, Karta of a Hindu Undivided Family or a Power of Attorney holder. A Non-Resident Indian can be a Nominee subject to the Exchange Control Regulations of RBI, in force, from
time to time. • Nomination in respect of the units stands rescinded upon the transfer of units. • Transfer of units in favour of a Nominee shall be valid discharge by the Asset Management Company against the legal heir.
• The cancellation of nomination can be made only by those individuals who hold units on their own behalf singly or jointly and who made the original nomination. • On cancellation of the nomination, the nomination shall
stand rescinded and the Asset Management Company shall not be under any obligation to transfer the units in favour of the Nominee.
- 620 017 Tel.: 0431-4023821. Trivandrum : SI Properties, Ground Floor, White Heaven, Vellayamballam, Trivandrum - 695010. Tel.: 0471-4470106. Udaipur : Trimurti Heights, 8C Bank Street, Madhuban, Udaipur - 313 004. Tel.: 0294-5105413. Unjha : 2nd Floor, Above Bhojanalay Opp AMC
Building GunjBazar , Unjha - 384170 Tel.: 02767-253812 / 13. Valsad : Shop nos 3-6 Sai Keval Jalaram Road , Valsad - 396001 Tel.: 02632-259152. Vapi : Plot No 5 and 6 Mahalaxmi Society Vapi-Daman Road, Chala, Vapi - 396191 Tel.: 0260-2462725. Varanasi : D-37/37 Spice KCM Cineplex
Complex Godowlia Chowk , Varanasi - 221001 Tel.: 0542-2401070/72. Viramgam : Shop 19-22, Akshar Complex, Mandal Road, Viramgam - 382150 (Gujarat) Tel.: 02715-28002145/47. Visnagar : 1st Floor, Rajkamal Complex Near Railway Station Visnagar Dist Mehsana - 384315 Tel.:
02765-227288. Vadodra : Panorama Building R.C.Dutta Road, Alkapuri, Vadodara-300097 Tel.: 0265-5520350. Vijayawada : # 40-1-48/1, Labbipet, M.G. Road, Vijayawada-520010 Tel.: 0866-6637524.
Standard Chartered Bank: AHMEDABAD: Abhijeet II, Ground Floor Mithakali, 6th Road, Ahmedabad - 380006. Tel.: 079-6470061/6461231. ALLAHABAD: 2 Sardar Patel Marg, Civil Lines, Allahabad - 211001. Tel.: 0532-2427065. AMRITSAR:Gandhi Bazar, The Mall, Post Box 3, Amritsar-143001.
Tel.: 0183 -240 1665. BANGALORE: 26th Floor, West Wing Raheja Tower, M.G. Road, Bangalore - 560001. Tel : 080-5326061/ 5095105. BHOPAL: Ground Floor, Northern Wing, Alankar Complex,Plot No.10,Zone II, MP Nagar, Bhopal - 462011. Tel.:0755-2554281. BHUBANESHWAR: Plot No
3 Bapuji Ngr, Janapath, Bhubaneshwar - 751009. Tel.: 0674-2539436. CHANDIGARH: SCO, 137-138, Sector - 9C, Madhya Marg, Chandigarh - 160017. Tel : 0172-5072884-6. CHENNAI: 19, Rajaji Salai, Chennai - 600001. Tel.: 044-25349315/25349241/25349259. COCHIN: XXIV/ 1633, KPK Menon
Road, Willingdon Island, Cochin - 682003. Tel.: 0484-2668360/2666246. COIMBATORE: 509, D. B. Road, R.S.Puram, Coimbatore- 641 002. Tel.: 0422-2544620/2544629. GUWAHATI: G N Bardoli Road, Ambari, Guwahati - 781001. Tel.: 0361-2632264. HYDERABAD: 6-3 1090, Raj Bhavan Road,
Somajiguda , Hyderabad - 500082. Tel.: 040-23321442/23321421. INDORE: 21/1 DM Tower, Race Cource Road, Indore - 452001. Tel.: 0731-5206913/14. JAIPUR: H8, Showroom No.1, Bhagwat Bhawan, MI Road, Jaipur - 302001. Tel.: 0141-2367949. JALANDHAR: Plot No. 34, G. T. Road,
Jalandhar -144 001. Tel.: 0181-5073412. KANPUR: 16/105, M.G. Marg, Kanpur - 208 001.Tel.: 0512- 2303961/2303408. KOLKATA: 19 Netaji Subhas Road, Kolkata - 700001. Tel.: 033-22220173/22220263. LUCKNOW: 4 Shahnajaf Road , Lucknow, (UP) - 226001. Tel.:0522-2201826.LUDHIANA:
SCO 16-17, Feroze Gandhi Market, Ludhiana, (Punjab) - 141001. Tel: 0161- 5084028. MUMBAI: 270 D.N. Road, Fort , Mumbai - 400001. Tel.: 022-22092213/22683975. NAGPUR: Narang House, Palm Road, Civil line, Nagpur - 440001. Tel.: 0712-5620706. NEW DELHI: H2 Connaught Circle, New
Delhi - 110001. Tel.: 011-23406741/46. PATNA: Bhagwati Dwaraka Arcade, Plot No. 830 P, Exhibition Road, Patna - 800001. Tel.: 0612-2223139/43. PUNE: Shrirang House, 364-365, Junglee Maharaj Road, Shivaji Nagar, Pune - 411 005. Tel.: 020-5521879/ 78. RAJKOT: Business Empire, 5 Jagnath
Plot, Gymkhana Road, Rajkot - 360002.Tel.: 0281-2461341. SURAT: C.K.Tower, 1st Floor, Nr.Sargam Shopping Center, Towards Surat - Dumas Rd., Parle Point, Surat - 395007. Tel.: 0261-2220110. VADODARA: Gokulesh, R. C. Dutt Road, Vadodara - 390 009. Tel.: 0265-232 0071.
YES BANK: Ahmedabad: Unit No. G/3, 102-103, C.G.Centre, C.G.Road, Ahmedabad 380 009, Tel.: 079-6631 0009. Aurangabad: Showroom No A7, Ground Floor, Aurangabad Business Centre, Adalat Road, Aurangabad - 431 005, Tel.: 9823269699 Bangalore: Kasturba Road, Prestige
Obelisk, Municipal No.3, Kasturba Road, Bangalore 560 001. Tel.: 080 - 4017 9000. Chandigarh: Shop Cum Office (SCO) No. 151-152, Sector 9 C, Madhya Marg, Chandigarh 160 017. Tel.: 0172-645 9000 Chennai: 143, Nungambakkam High Road,Chennai 600 034. Tel.: 044-2831 9000 Coimbatore:
No: 694 -A1, Near Manchester Regent, Avinashi Road Coimbatore - 641 037, Tel.: 984959468. Faridabad: SCO-4, Sector 16, Haryana,Faridabad -121 002. Tel.: 0129-2590 9100. Ghaziabad: Plot C–37, Rajnagar Dist Centre (RDC), Ghaziabad, Uttar Pradesh 201 002. Gobindgarh: Showroom
No. 21, Sector 19 A, N.R. Plaza, Grand Trunk Road, District Fatehgarh Sahib, Mandi Gobindgarh, (Punjab) - 147 301. Tel.: 0176-5308000. Gurgaon: G5, Fortune Global Arcade, Mehrauli Gurgaon Road, Gurgaon, Haryana 122 002. Tel: 0124-4069000. Hyderabad: Mayank Towers, 6-3-19/
B/1&2, Rajbhavan Road Somajiguda, Hyderabad, Tel.: 040-6673 9000. Jaipur: G2, Ground Floor Green House, Plot O-15, Ashok Marg, Jaipur 302 001, Tel: 9928035600. Kolkata: 19, Camac Street, Kolkata 700 017, Tel: 033-3987 9000 Lucknow: Tulsi Complex, 12 Rani Laxmibai Marg,Hazratganj,
Lucknow 226 001. Tel.: 0522 - 4099000 Ludhiana: B-XX/2427/928, GF – FF, Gobind Nagar,Main Ferozepur Road, Ludhiana - 141 001. Tel: 0161-4689000 Margao: Plaza Centre,Abade Faria Road,Margao, GOA 403 601. Tel.: 083-2669 9000. Mumbai (Nariman Point): 1A, Mittal Chambers,
Nariman Point, Mumbai 400 021. Tel: 022-6674 9000. Nagpur: Ground Floor, Swami Sadan, Plot no 206/1A, GPO Square, VIP Road, Civil Lines, Nagpur 440 001, Tel.: 9850209991 Nashik: Shop no 9 to 13, AGORA, Canada Corner,Junction of Sharanpur and College road Nashik 422 002.
Tel.: 9898063832 New Delhi (Chanakyapuri): 48, Nyaya Marg, Chanakyapuri, New Delhi 110 021. Tel: 011-6656 9000 Noida: A – 356, Sector 19, Noida, (U.P) Tel.: 0120 - 4076000. Panjim (Goa): Ground and First Floor, Santo Agostinho, 18th June Road, opposite HDFC Bank, Panjim
(Goa) 403 001, Tel.: 9823160687. Pune (Shivaji Nagar): 101, Karan Selene, Bhandarkar Road, Shivaji Nagar, Pune 411 004, Tel: 020-6620 0861 Srinagar: Unit No 1-6 , M.S. Mall site, Residency Road Estate, Srinagar -190 001. Tel.: 9906539039, Surat: Mangal Deep, Ring Road, (Landmark:
Near Mahavir Heart Hospital -- Near RTO), Surat- 395 001. Tel.: 0261-6629000 Vadodara: Race Course Circle, Corner Square, Race Course Circle, Next To West Side / INOX, Vadodara 390 007. Tel: 0265-6629000.
KEY INFORMATION MEMORANDUM has given some other specific payment instructions.
8.BENCHMARK INDEX
The performance of JM AGRI & INFRA Fund will be benchmarked to BSE 500 Index.
9. DISTRIBUTION OF INCOME
A CLOSE ENDED EQUITY ORIENTED SCHEME
(A 3 YEAR CLOSE-ENDED EQUITY ORIENTED SCHEME WITH AN AUTOMATIC CONVERSION INTO Declaration of dividends will be subject to availability of distributable profits, as computed in accordance with SEBI Regulations, 1996.
AN OPEN-ENDED EQUITY ORIENTED SCHEME ON MATURITY) All distribution of earnings will be out of distributable surplus and at the discretion of the trustee. Such distribution may be by way
An offer for units @ Rs. 10/- each during the New Fund Offer period. of bonus units or by way of dividend.
Dividends, if declared, will be paid (subject to deduction of tax at source, if any) to those unit holders whose names appear in the
NEW FUND OFFER COMMENCES ON : 19/11/2007
register of unit holders on the notified record date. However, in case the dividend payable to any unitholder is below is Rs. 100/- then
NEW FUND OFFER ENDS ON : 18/12/2007 the same will be automatically re-invested.
The AMC shall dispatch the dividend warrants and/or fresh Account Statement with the bonus units to the unitholders within 30 days
SPONSOR : J.M. Financial & Investment Consultancy Services Private Limited or such stipulated period of the declaration of dividend/bonus units. In case of Dividend Reinvestment/ Sweep Option, the AMC shall
CO-SPONSOR : JM Financial Limited credit the appropriate number of units to unitholders account at the applicable NAV on the same date when the NAV is ex-dividend.
TRUSTEE : JM Financial Trustee Company Private Limited On payment of dividends, the NAV will stand reduced by the amount of dividend and dividend tax (if applicable) paid.
REGISTRAR : Karvy Computershare Private Limited
INVESTMENT MANAGER : JM Financial Asset Management Private Limited 10. NAME OF THE FUND MANAGER
Corporate Office: 5th floor, A-Wing, Laxmi Towers, Bandra-Kurla Complex, The fund manager for the Scheme is Mr. Sandip Sabharwal.
Mumbai - 400 051. Tel. No. : 022-3987 7777 Fax Nos. : 022-2652 8377 / 78 11. NAME OF THE TRUSTEE COMPANY
Website: www.JMFinancialmf.com Email: mktg@jmfinancial.in
JM Financial Trustee Company Private Limited
This Key Information Memorandum (KIM) sets forth the information, which a prospective investor ought to know before investing.
For further details of the scheme/Mutual Fund, due diligence certificate by the AMC, Key Personnel, investors’ rights & services, risk 12. PERFORMANCE OF THE SCHEME
factors, penalties & pending litigations, associate transactions etc. investors should, before investment, refer to the Offer Document JM Agri & Infra Fund is a close ended equity oriented scheme which will invest predominantly in the agriculture & infrastructure
available free of cost at any of the Investor Service Centres or distributors or from the website www.JMFinancialmf.com sectors. As the Mutual Fund does not have a close ended equity oriented scheme, we have given the performance of JM Basic Fund
The Scheme particulars have been prepared in accordance with Securities and Exchange Board of India (Mutual Funds) Regulations which is equity fund with a sectoral focus.
1996, as amended till date, and filed with Securities and Exchange Board of India (SEBI). The units being offered for public subscription
Latest performance of the Scheme as on 25th October, 2007
have not been approved or disapproved by SEBI, nor has SEBI certified the accuracy or adequacy of this KIM.
The date of this Key Information Memorandum is 25/10/2007. Compounded Annualised Returns as JM Basic Fund (Growth Plan) Benchmark**
on 25/10/07 Scheme Returns (%) Returns (%)
Returns for the last 1 year 84.09 100.72
NAME OF THE SCHEME: JM AGRI & INFRA FUND
Returns for the last 3 yrs 46.30 NA
1. INVESTMENT OBJECTIVE
Returns for the last 5 yrs 46.80 NA
The investment objective of the Scheme is to provide long-term growth by investing predominantly in equity / equity related instruments
Returns since inception* 36.46 NA
of companies that focus on agriculture and infrastructure development of India.
* Inception date = Allotment date i.e. 02.06.1997
2. ASSET ALLOCATION PATTERN ** Benchmark Index: BSE Basic Industries Index ( ) $
The asset allocation pattern of the Scheme under normal circumstances would be as under: Benchmark index has been changed from S&P CNX Petrochemical Index to BSE Basic Industries Index (3 ) w.e.f. June 22, 2005
Note: CAGR for period 1 year or more, with reinvestment of dividends (if any). Past performance may or may not be sustained in
Security Maximum Risk Profile future.
Exposure
$
Disclaimer: BSE Basic Industries Index () : All rights in the BSE Basic Industries Index () vest in BSE. BSE and BSE Basic Industries
Index () are trademarks of BSE and are used by JM Financial Asset Management Private Ltd. under license. BSE shall not be liable
Equity and equity related securities# of industries in the Agri & Infra Sector 65% - 100% Medium – High in any manner whatsoever (including in negligence) for any loss arising to any person whosoever out of use of or reliance on the BSE
Money Market Instruments / Debt (including securitized debt*) 0% - 35% Low - Medium Basic Industries Index () by any person.
JM Basic Fund is not sponsored, endorsed, sold or promoted by BSE. BSE makes no representation or warranty, express or implied
* Securitised debt will not include foreign securitized debt. to the investors in JM Basic Fund or any member of the public in any manner whatsoever regarding the advisability of investing
#
Exposure to derivatives would be capped at 50 % of equity portfolio of the Scheme. in securities generally or in JM Basic Fund particularly or the ability of the index to track the sectors represented in the BSE Basic
Industries Index (). The relationship of BSE to the JM Financial Asset Management Pvt. Ltd. is in respect of the licensing of use
The Trustee may, from time to time, pending deployment of funds of the Scheme in securities in terms of the investment objective of of BSE Basic Industries Index() which is determined, composed and calculated by BSE without regard to the JM Financial Asset
the Scheme, invest the funds of the Scheme in short-term deposits of scheduled commercial banks in accordance with SEBI Circular Management Pvt. Ltd. or JM Basic Fund. BSE has no obligation to take the needs of the investors of JM Basic Fund into consideration
No. SEBI/IMD/CIR No. 1/91171/07 dated April 16, 2007. in determining, composing or calculating the BSE Basic Industries Index () BSE is neither responsible for nor has participated in the
Changes in Asset Allocation Pattern determination of the time or price at which the units under JM Basic Fund are to be issued or in the determination or calculation of
the equation by which the units are to be redeemed for the underlying securities. BSE has no obligation or liability in connection with
Subject to the SEBI Regulations, the asset allocation pattern and maturity profile indicated above may change from time to time,
the administration, marketing or trading of JM Basic Fund”.
keeping in view market conditions, market opportunities, applicable regulations and political and economic factors. It must be clearly
“BSE does not guarantee the accuracy and/or the completeness and/or continuity of BSE Basic Industries Index () or any data
understood that the percentages stated above are only indicative and not absolute. The changes in the investment pattern will be in
included therein and they shall have no liability for any errors, omissions or interruptions therein or change or cessation thereof. BSE
conformity with the investment objectives and basic nature of the scheme and asset allocation can be altered only for a short term
makes no warranty, express or implied, as to the results to be obtained by the JM Financial Asset Management Pvt. Ltd., investors
period on defensive considerations.
of JM Basic Fund, or any other persons or entities from the use of BSE Basic Industries Index () or any data included therein. BSE
Provided further and subject to the above, any change in the asset allocation pattern affecting the investment profile of the Scheme makes no express or implied warranties and expressly disclaims all warranties of merchantability or fitness for a particular purpose
shall be effected only in accordance with the provisions of sub-regulation 15A of Regulation 18 of the SEBI (MF) Regulations as or use with respect to BSE Basic Industries Index () or any data included therein. Without limiting any of the foregoing, in no event
detailed later in this document. shall BSE have any liability for any special, punitive, indirect or consequential damages (including lost profits), even if notified of the
possibility of such damages”.
3. RISK PROFILE OF THE SCHEME
13. EXPENSES OF THE SCHEME
Mutual fund investments are subject to market risks. Please read the offer document carefully for details on risk factors before
I) NEW FUND OFFER EXPENSES
investment.
Under the SEBI (Mutual Funds) Regulations, the Scheme is entitled to charge New Fund Offer expenses upto a maximum of 6% of the
4. INVESTMENT PLANS / OPTIONS
initial resources raised under the Scheme. New Fund offer expenses comprising of advertising & marketing expenses, printing and
The Scheme offers two options to the investors.: mailing, Registrar expenses, bank charges, commission to agents and other expenses not exceeding 6% of the initial amount mobilized
in the New Fund Offer will be charged to the Scheme and will be amortised upto a period of 3 years. Actual expenses incurred in
(a) Dividend and (b) Growth.
respect of the New Fund Offer expenses in excess of 6% of the initial amount mobilized shall be borne by the AMC / Trustee.
Both options will have a common portfolio. Investors are requested to indicate their preference while investing in the Scheme. Default
II) LOAD STRUCTURE
option will be the growth option.
The load structure for the Scheme is given as follows:
Under Dividend option, investors have the facility of dividend payout and dividend reinvestment. Till maturity of the scheme, only
dividend payout option will be available to the investors opting for dividend option. Dividend reinvestment facility will be provided to Entry Load - During New Fund Offer Period there will be no entry load as close ended schemes are not permitted to charge entry
the investors only after the scheme is converted into an open ended equity scheme on maturity. load
In case an investor fails to specify his preference under the dividend option after the scheme is converted into an open ended equity Exit Load - for ongoing redemptions/switch out after three months from the date of allotment, the exit load till maturity of the scheme
scheme, he shall be deemed to have opted for dividend reinvestment facility. will be Nil. However, at the time of redemption, the unitholders will be charged the balance proportionate unamortized initial issue
expenses applicable to their investments.
Systematic Investment Plan (“SIP”) / Systematic Transfer Facility (“STF”) / Systematic Withdrawal Plan (“SWP”)
Entry / Exit Load on an ongoing basis after the conversion of Scheme into an open-ended Scheme:
This facility will be available to the investors of the Scheme subsequent to its conversion into an open-ended scheme upon
maturity.
Entry Load :
5. APPLICABLE NAV FOR PURCHASES & SWITCH-INS/REDEMPTIONS AND SWITCH-OUTS (AFTER THE SCHEME OPENS FOR (i) In respect of each purchase / switch-in of units less than Rs. 3 crores in value 2.25%
CONTINUOUS SALE AND REPURCHASE)
(ii) In respect of each purchase / switch-in of units equal to or greater than Rs. 3 Nil
For Purchases and Switch-Ins crores in value
In respect of valid applications received upto 3 p.m. by the Mutual Fund alongwith a local cheque or a demand draft payable at par at Investments made through Systematic Investment Plan (“SIP”) Nil
the place where the application is received, the closing NAV of the day on which application is received shall be applicable. Exit Load : Nil
In respect of valid applications received after 3 p.m. by the Mutual Fund alongwith a local cheque or a demand draft payable at par Investments made through SIP 2.25% if redeemed within 1 year of allotment
at the place where the application is received, the closing NAV of the next Business Day shall be applicable. / transfer of units from the respective
instalment.
However, if the AMC accepts valid applications with outstation cheques/ demand drafts not payable at par at the place where the
application is received, closing NAV of the day on which cheque/demand draft is credited shall be applicable. III) Annual Scheme Recurring Expenses
For Redemptions and Switch-Outs (after completion of lock-in period) The maximum recurring expenses that can be charged to a Plan under the Scheme, on an annual basis are as under:
Redemption / switch-out requests can be submitted to the official point of acceptance on any Business Day till 3 p.m. Particulars (as a % of Applicable NAV) JM Agri & Infra
These redemption requests will be processed at the applicable NAV on the Specified Redemption Days during the Specified Fund
Redemption Period subject to the exit load and after deduction of the balance proportionate unamortized new fund offer expenses Investment Management & Advisory Fee 1.25
as may be applicable. Trustee Fee 0.05
The Fund will endeavor to dispatch the redemption cheque/draft within 10 Business Days from the date of the relevant interval period Statutory expenses, Custodian fees, Registrar & Transfer Agent fees, Audit fees and other expenses permitted 1.20
on which the redemption transaction is effected. under Regulation 52(4)(b)
It is clarified that the cut off timings will also be applicable to investments made through “sweep” mode. TOTAL 2.50
6. MINIMUM AMOUNT OF SUBSCRIPTION / REDEMPTION The purpose of the above table is to assist the investor in understanding the various costs and expenses that an investor in the
Scheme will bear directly or indirectly. While this estimate has been made in good faith on the basis of information available with
An application during the new fund offer should be for a minimum of Rs. 5,000/- and in multiples of Re. 1/- thereafter. The criteria for the Fund, there can be no assurance that actual expense, under any particular head will not be more or less than such estimate. The
minimum amount of subscription will be applicable at the Option level. Once the Scheme is converted into an open-ended Scheme AMC reserves the right to revise the fees payable to the service providers from time to time. The total expenses, however, will be
on maturity and opens for ongoing subscription, the minimum ongoing investment in an existing folio is Rs. 1,000/- and in multiples maintained within the limits mentioned under Regulation 52 (6) of SEBI (MF) Regulations, 1996.
of Re. 1/- thereafter. However, there is no upper limit for investment.
As per the Regulations, the maximum recurring expenses including investment management and advisory fee that can be charged to
Redemption of units (except in SIP/STP/SWP cases) will be Rs. 500 or 50 units subject to applicable exit load. Any redemption in the Scheme shall be subject to a percentage limit of weekly net assets as in the table below:
excess thereof may be in multiples of Re.1/- subject to keeping minimum balance of 500 units or Rs. 5000/- whichever is less.
In the event of remaining balance (for investment other than through SIP/STP/SWP falling below the minimum balance of 500 units First Rs. 100 crore Next Rs. 300 crore Next Rs. 300 crore On the balance assets
or Rs.5000 (Which ever is less) while processing redemption/switch requests, the entire outstanding units redeemed. 2.50% 2.25% 2.00% 1.75%
7. DESPATCH OF REPURCHASE (REDEMPTION) REQUEST
14.TAX TREATMENT FOR INVESTORS
All redemption payments would be in favour of the Unitholder’s registered name with bank mandate wherever applicable.
14.1 TAX BENEFITS
The Fund will endeavour to dispatch the redemption cheque/draft within 10 Business Days from the date of receipt of valid form
for redemption. In case the bank mandate given by the unitholder corresponds with banks with which the Fund / AMC has tie-up The following tax benefits are available to investors and the Fund under the present taxation laws. The information set forth below is
facilities / arrangements, the redemption amount will be automatically credited to the unitholder’s bank account unless the unitholder based on the advice of the Fund’s tax advisor and is included for general information purposes only. The information set forth below
reflects the law and practice as of date of this Offer Document. In view of the individual nature of tax consequences, each investor
is advised to consult his or her own tax adviser with respect to the specific tax consequences to him or her of participation in the of units held in an equity oriented mutual fund.
scheme.
(c) In case of foreign company -
The disclosures regarding Income Tax / Wealth Tax / Gift Tax / Capital Gains Tax / Investments by NRIs / FIIs are in conformity with
Short term capital gains 40% plus surcharge and cess
the prevalent I. T. Act, Foreign Exchange Management Act, 1999 and RBI’s directions and permissions in this regard.
No tax would be deductible at source from the capital gains (whether long-term or short-term) arising to an FII on repurchase/
The following information is based on the law in force in India at the date hereof. The subscriber should seek advice from his/her/its
redemption of units in view of the provisions of Section 196D (2) of the Act.
own professional advisor if he/she/it is in any doubt regarding the taxation consequences of investing in the Fund.
As per circular no. 728 dated October 1995 by CBDT, in the case of a remittance to a country with which a Double Taxation Avoidance
14.1.1 TO THE FUND
Agreement (DTAA) is in force, the tax should be deducted at the rate provided in the Finance Act of the relevant year or at the rate
The Income of the Fund registered under the SEBI Act, 1992 (15 of 1992) or Regulations made thereunder will be exempt from income provided in DTAA whichever is more beneficial to the assessee.
tax in accordance with the provisions of Section 10(23D) of the I.T. Act. The income received by the Fund is not liable for deduction
iii. Rebate of securities transaction tax paid
of tax at source.
1. No deduction shall be allowed for securities transaction tax paid, for the purpose of computation of business income or capital
As per Section 115R, the Fund is liable to pay additional income tax on the income distributed by it. However, in respect of equity
gains.
oriented funds, no additional income tax is payable on income distributed by the Fund. At the same time, in view of the provisions of
Section 196(iv) of the Act, the Fund will receive all income without any deduction of tax at source. 2. However, as per Section 88E of the Act, a rebate of securities transaction tax paid would be available to tax payers whose income
from redemption of units in an equity oriented mutual fund is charged to tax as their business income, from the tax payable on such
SECURITIES TRANSACTION TAX
business income.
Securities Transaction Tax (“STT”) is applicable on transactions of purchase or sale of units of an equity oriented fund entered into
3. The tax payable on such business income would be calculated by applying the average rate of tax to such business income. This
on a recognized stock exchange or on sale of units of an equity oriented fund to the Fund. The STT rates as applicable are given in
rebate will be allowed only where the taxpayer furnishes the evidence of payment of securities transaction tax in the prescribed
the following table:
form, along with his tax return.
Taxable Securities Transaction Rates Payable by F. INVESTMENTS BY CHARITABLE AND RELIGIOUS TRUSTS
Purchase of a unit of an equity oriented fund, where - 0.125% Purchaser Units of a Mutual Fund Scheme referred to in Clause 23D of Section 10 of the Income Tax Act, 1961, constitute an eligible avenue
The transaction of such purchase is entered into in a recognised stock exchange; and the contract for for investment by charitable or religious trusts per rule 17C of the Income Tax Rules, 1962, read with clause (xii) of sub-section (5)
the purchase of such unit is settled by the actual delivery or transfer of such unit. of section 11 of the Income Tax Act, 1961.
Sale of a unit of an equity oriented fund, where - 0.125% Seller
G. WEALTH TAX
The transaction of such sale is entered into in a recognised stock exchange; and the contract for the
sale of such unit is settled by the actual delivery or transfer of such unit. Units held under the Mutual Fund Scheme are not treated as assets within the meaning of section 2(ea) of the Wealth Tax Act, 1957
Sale of a unit of an equity oriented fund, where - 0.025% Seller and are, therefore, not liable to Wealth-Tax.
The transaction of such sale is entered into in a recognised stock exchange; and the contract for the H. GIFT TAX
sale of such unit is settled otherwise than by the actual delivery or transfer of such unit.
The Gift-tax Act, 1958, has ceased to apply to gifts made on or after 1st October 1998. Gifts of Units, purchased under the Scheme,
Sale of a derivative being option or future, where the transaction of such sale is entered into in a 0.0166% Seller
would therefore, be exempt from gift-tax.
recognized stock exchange
Sale of unit of an equity oriented fund to the Mutual Fund itself. 0.25% Seller Note: All tax benefits will be available only to the sole Unitholder or the first named holder in case the units are held in the names of
more than one person.
The Fund is responsible for collecting the STT from every person who sells the Unit to it at the rate of 0.25%. The STT collected by
the Fund during any month will have to be deposited with the Central Government by the seventh day of the month immediately 15. PREVENTION OF MONEY LAUNDERING & KNOW YOUR CUSTOMER
following the said month. In terms of the Prevention of Money Laundering Act, 2002, the Rules issued there under and the guidelines / circulars issued by SEBI
14.1.2 TO THE UNITHOLDERS regarding the Anti Money Laundering (“AML Laws”), all intermediaries, including Mutual Funds, have to formulate and implement a
client identification programme, verify and maintain the record of identity and address(es) of investors.
A. INCOME RECEIVED FROM MUTUAL FUND
In order to make the data capture and document submission easy and convenient for the investors, the Mutual Fund industry has
According to Section 10(35) of the I.T. Act, any income received in respect of units of Mutual Fund specified under Section 10(23D) collectively entrusted this responsibility of collection of documents relating to identity and address and record keeping to an independent
will be exempt from income tax in the hands of the Unitholders. Further, it has been clarified that income arising from transfer of units agency (presently CDSL Ventures Limited) that will act as central record keeping agency (“Central Agency”). As a token of having
of Fund shall not be exempt under section 10(35). verified the identity and address and for efficient retrieval of records, the Central Agency will issue a Acknowledgment stating the
B. LONG TERM CAPITAL GAINS ON TRANSFER OF UNITS investor is a KYC compliant investor (hereinafter called KYC ACKNOWLEDGMENTor an acknowledgment by whatever name called),
to each investor who submits his PAN Card and other necessary KYC documents to the Central Agency. Prior to March 1, 2007, the
Under Section 10(38), long term capital gains arising on sale of units of equity oriented funds are exempt from income tax in the hands Central Agency had issued Mutual Fund Identification Number (“MIN”) to each investor who had submitted the said application and
of Unitholders, provided STT is charged on such sale by the Mutual Fund. the prescribed documents to the Central Agency.
C. SHORT TERM CAPITAL GAINS ON TRANSFER OF UNITS Investors who have obtained the MIN or the KYC acknowledgment can invest in the schemes of the Mutual Fund by stating the same,
Section 111A provides that short-term capital gains arising on sale of units of equity oriented funds are chargeable to income tax at in lieu of submitting information and documents required under AML Laws.
a concessional rate of 10% plus applicable surcharge and cess, provided STT is charged on such sale by the Mutual Fund. Further, Further, SEBI issued circular dated 20th March, 2002, advising all intermediaries to take necessary steps to ensure compliance with
Section 48 provides that no deduction shall be allowed in respect of STT paid for the purpose of computing Capital Gains. the requirement of Section 12 of the Act inter-alia maintenance and preservation of records and reporting of information relating to
D. CAPITAL LOSSES cash and suspicious transactions to Financial Intelligence Unit-India (“FIU-IND”), New Delhi. The AMC may seek information or obtain
and retain documentation used to establish identity. It may re-verify identity and obtain any missing or additional information for this
Losses under the head “Capital Gains” cannot be setoff against income under any other head. Further within the head “Capital Gains”, purpose. The AMC, under powers delegated by the Trustee, shall have absolute discretion to seek information from investors, record
losses arising from the transfer of long-term capital assets cannot be adjusted against gains arising from the transfer of a short-term investor’s telephonic calls, reject any application, prevent further transactions by a Unit Holder, report suspicious transactions to
capital asset. However, losses arising from the transfer of shortterm capital assets can be adjusted against gains arising from the FIU-IND and / or to freeze the folios, if after due diligence, the investor / Unit Holder / a person making the payment on behalf of the
transfer of either a long-term or a short-term capital asset. investor does not fulfill the requirements of the “Know Your Customer” or the AMC believes that the transaction is suspicious in nature
Under Section 10(38) of the I.T. Act, long-term capital gains arising on sale of units of an equity oriented fund are exempt from Income as regards money laundering. In this behalf the AMC reserves the right to reject any application and effect a mandatory redemption of
Tax provided certain conditions are fulfilled. Hence, losses arising from such type of transaction of sale of units of Equity Oriented units allotted within such time as may be reasonable or in compliance with any rules, regulations, guidelines, circular, etc. issued by
Fund would not be eligible for set-off against taxable capital gains. any regulatory authority in this regard from time to time. If the payment for purchase of units are made by a third party (e.g. a Power
of Attorney Holder, a Financing Agency, a relative, etc.), the Unit Holder may be required to give such details of such transaction so as
Unabsorbed short-term capital loss can be carried forward and set off against the income under the head Capital Gains in subsequent
to satisfy the AMC of the source and / or consideration underlying the transaction. The KYC documentation shall also be mandatorily
eight assessment years.
complied with by the holders entering the Register of Members by virtue of operation of law e.g. transmission, etc.
According to Section 94(7) of the I.T. Act, if any person buys or acquires units within a period of three months prior to the record date
Applicants / Unit holders may contact our Investor Service Centers / distributors, if any, for any additional information / clarifications.
fixed for declaration of dividend or distribution of income and sells or transfers the same within a period of nine months from such
Also, please visit our website www.JMFinancialmf.com for any other related information.
record date, then losses arising from such sale to the extent of income received or receivable on such units, which are exempt under
the I.T. Act, will be ignored for the purpose of computing his income chargeable to tax. The Scheme will adhere to such guidelines / procedures as have been or may be issued by AMFI / SEBI / or any other regulatory
authority in this regard from time to time.
Further, Sub-section (8) of Section 94 provides that, where additional Units have been issued to any person without any payment,
on the basis of existing units held by such person then the loss on sale of original units shall be ignored for the purpose of computing 16. DAILY NET ASSET VALUE (NAV) PUBLICATION
income chargeable to tax, if the original units were acquired within three months prior to the record date fixed for receipt of additional The NAVs will be declared on all Business Days and will be published in 2 newspapers. NAVs can also be viewed on www.JMFinancialmf.
units and sold within nine months from such record date. However, the loss so ignored shall be considered as cost of acquisition of com and www.amfiindia.com. Investors may also contact any of the Investor Service Centres of JM Financial Mutual Fund.
such additional units held on the date of sale by such person.
17. FOR INVESTOR GRIEVANCES PLEASE CONTACT
E. TAX DEDUCTION AT SOURCE
HEAD - CLIENT SERVICES
i. For income in respect of units: Mr. Harish Kukreja
No tax shall be deducted at source in respect of any income credited or paid in respect of units of the Fund as per the provisions of JM FINANCIAL ASSET MANAGEMENT PRIVATE LTD
section 10(35), section 194K and section 196A of the I.T. Act. 5th Floor, A-Wing, Laxmi Towers, Bandra-Kurla Complex, Mumbai - 400 051.
Tel. No.: (022) 39877777 Fax Nos.: (022) 26528377-78;
ii. For Capital Gains: Email: investor@jmfinancial.in
(a) In respect of Resident Unit holders:
REGISTRAR:
No tax is required to be deducted at source on capital gains arising to any resident Unit holder (under section 194K) vide circular no. KARVY COMPUTERSHARE PRIVATE LTD
715 dated August 8, 1995 issued by the Central Board for Direct Taxes (CBDT). Further, no tax is required to be deducted at source Karvy Plaza, H. No. 8-2-596, Avenue 4 Street No. 1,
from capital gains arising at the time of repurchase or redemption of the units. Banjara Hills, Hyderabad - 500 034 .
7HO1R)D[1R
(b) In respect of Non- Resident Unit holders:
E-mail: services_jmf@karvy.com
As per the provisions of Section 195 of the Act, tax is required to be deducted at source from the redemption proceeds paid to
18. UNIT HOLDER’S INFORMATION
investors; this withholding is in addition to the securities transaction tax payable, if any, by the investor. Under section 195 of the I.T.
Act, tax shall be deducted at source in respect of capital gains as under: Accounts statements for each transaction and annual financial results shall be provided to investors by post. Half yearly Scheme
portfolio will either be mailed to the unit holders or published in the newspapers as permitted under the SEBI (Mutual Funds)
The capital gains tax that will be withheld from proceeds paid to NRIs from short-term capital gains arising out of redemption of units
Regulations, 1996.
held in an equity oriented mutual fund would be 10% plus surcharge and cess.
Date: 25/10/2007
However, no capital gains tax would be withheld from proceeds paid to NRIs from long-term capital gains arising out of redemption
-0),1$1&,$/0878$/)81'&25325$7(2)),&(080%$,5th Floor, A-Wing, Laxmi Towers, Bandra-Kurla Complex, Mumbai - 400 051. Tel: (022) 39877777 Fax: (022) 26528377- 78. %5$1&+(6,19(67256(59,&(&(175(6$*5$
Office no F-C-6, 1st flr, Block No 41/4B, Friends Tower, Sanjay Palace, Agra 282002 Tel.: 99976 37770 $+0('$%$': A-506, Premium House, Opp. Gandhigram Railway Stn., Off Ashram Road, Ahmedabad - 380 009. Tel.: (079) 26576334 / 26581831.
BANGALORE: *URXQG)ORRU$OL$VNHU5RDG%DQJDORUH7HOCHANDIGARH: 6&2QG)OU6HFWRU'0DGK\D0DUJ&KDQGLJDUK7HOCHENNAI: Mount
&KDPEHUV'QG)ORRU$QQD6DODL&KHQQDL7HOCOIMBATORE: Door No. 196/17, First Floor, Aiswarya Commercial Centre, Thiruvenkatasamy Road, R S Puram, Coimbatore - 641 002. Tel.: (0422)
DEHRADUN: 6KLYD3DODFH5DMSXU5RDG'HKUDGXQ7HOGOA: CL-12, Advani Business Centre, Neelkamal Arcade, Atmaram Borkar Rd., Above Federal Bank, Panaji, Goa - 403001. Tel: (0832) 6650302.
HUBLI: 1R8SSHU*URXQG)ORRU9LYHNDQDQGD&RUQHU'HVKSDQGH1DJDU+XEOL7HOHYDERABAD: ABK Olbee Plaza, 8-2-618/8 & 9, 4th Floor, 403, Road No 1, Banjara Hills, Hyderabad - 500034. Tel.: (040)
INDORE: $5DFH&RXUVH5RDG'07RZHUV,QGRUH037HOJAIPUR: WK)OU*DQDSDWL3OD]D0,5RDG-DLSXU7HOJALANDHAR: SCO 203,
QG)OU/RWXV7RZHU*75RDG-DODQGKDU&LW\7HOKANPUR: 2IILFH1RWK)ORRU.DQ&KDPEHUV&LYLO/LQHV.DQSXU837HOKOLKATA: 6, Little Russell Street,
WK)ORRU.DQNDULD(VWDWH.RONDWD7HOLUCKNOW : 5RRP1RVW)ORRU6N\+L3DUN5RDG/XFNQRZ7HOLUDHIANA: Office No. 308, SCO 18, Opp. Stock Exchange,
)HUR]H*DQGKL0DUNHW/XGKLDQD7HOMANGALORE: 5RRP1R6HFRQG)ORRRU0DQDVD7RZHUV0*5RDG1HDU396&LUFOH0DQJDORUH7HOMUMBAI: 112, Jolly
0DNHU&KDPEHUV,,1DULPDQ3RLQW0XPEDL7HONAGPUR: .KXOODU&KDPEHUV$ERYH%DQNRI%DURGD0XQMH&KRZN6LWD%XOGL1DJSXU7HONASIK: Lower Ground 14, Suyojit
6DQNXO%HKLQG&HQWXULRQ%DQN6KDUDQSXU5RDG1DVLN7HONEW DELHI: WK)ORRU$UXQDFKDO%XLOGLQJ%DUDNKDPED5RDG1HZ'HOKL7HOPATNA: 521, Ashiana Harniwas, New Dak
%XQJDORZ5RDG3DWQD7HOPUNE: ‘Kamala Arcade’, Off. No. 211, 2nd Floor, Survey No. 1204/1, J. M. Road, Shivaji Nagar, Pune - 411 005. Tel.: (020) 66023667 / 66025617. 5$,385Shop no29,2nd Floor, Millennium
3OD]D1HDU,QGLDQ&RIIHH+RXVH*(5RDG5DLSXU&KKDWWLVJDUK7HORAJKOT: 6WDU&KDPEHUVQG)OU+DULKDU&KRZN5DMNRW7HOSURAT: 220, Second Floor, Lalbhai, Contractor
&RPSOH[1DQSXUD6XUDW7HOVADODARA: WK)ORRU6LGGDUWK&RPSOH[$ONDSXUL5&'XWW5RDG9DGRGDUD7HOVARANASI: 2nd floor, Office no. 5, Urvashi Complex,
Sigra, Varanasi - 221010. Tel.: 9936997627.