tailieunhanh - Steps to re-energise Mutual Fund Industry

Shares of the Fund are offered for sale on a continuous basis and may be purchased or redeemed on any Valuation Date at the NAV per share of a particular series. The NAV per share of a series for the purposes of subscription or redemption is computed by dividing the NAV of the Fund attributable to the series (that is, the total fair value of the assets attributable to the series less the liabilities attributable to the series) by the total number of shares of the series of the Fund outstanding at such time. This amount may be different from the Net Asset per share of a series calculation, which is. | 3TRcfar vrfctarfcfr T ftfsfrPT 3ÍỈ Securities and Exchange Board of India CIRCULAR CIR IMD DF 21 2012 September 13 2012 All Mutual Funds Asset Management Companies AMCs Trustee Companies Boards of Trustees of Mutual Funds Sir Madam Sub Steps to re-energise Mutual Fund Industry In order to increase penetration of mutual fund products and to energise the distribution network while protecting the interest of investors SEBI held a series of meetings with various stakeholders in the mutual fund industry. Mutual Fund Advisory Committee MFAC also deliberated and offered its recommendations on issues confronted by the industry. Pursuant to SEBI Board s approval to various recommendations it has been decided to implement the following A. Total Expense Ratio TER 1. Additional TER can be charged up to 30 basis points on daily net assets of the scheme as per regulation 52 of SEBI Mutual Funds Regulations 1996 hereinafter referred to as Regulations if the new inflows from beyond top 15 cities are at least a 30 of gross new inflows in the scheme or b 15 of the average assets under management year to date of the scheme whichever is higher. In case inflows from beyond top 15 cities is less than the higher of a or b above additional TER on daily net assets of the scheme shall be charged as follows Daily net assets X 30 basis points X New inflows from beyond top 15 cities 365 X Higher of a or b above 366 wherever applicable. Lc-J 3TRcfar vrfctarict T PiH M ẽừế Securities and Exchange Board of India The top 15 cities shall mean top 15 cities based on Association of Mutual Funds in India AMFI data on AUM by Geography - Consolidated Data for Mutual Fund Industry as at the end of the previous financial year. 2. The additional TER on account of inflows from beyond top 15 cities so charged shall be clawed back in case the same is redeemed within a period of 1 year from the date of investment. 3. Mutual funds AMCs shall make complete disclosures in the half yearly report of Trustees to .