JPMorgan India Tax Advantage Fund Application Form

8/3/2019 JPMorgan India Tax Advantage Fund Application Form

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Common Key Information Memorandum and Application Form

Scheme names:

Sponsor:

Trustee:

Asset Management Company:

Continuous offer of Units of 10 per Unit at Net Asset Value (NAV) based prices, subject to applicable load thereafter.R

JPMorgan Asset Management (Asia) Inc.

JPMorgan Mutual Fund India Private Limited,

JPMorgan Asset Management India Private Limited,

Correspondence Office: 21/F, Chater House, 8 Connaught Place Central, Hong Kong.

Registered Office: J. P. Morgan Tower, Off C.S.T. Road, Kalina, Santacruz - East, Mumbai - 400 098.

Registered Office: J. P. Morgan Tower, Off C.S.T. Road, Kalina, Santacruz - East, Mumbai - 400 098.

JPMorgan India Equity Fund

JPMorgan India Liquid Fund

JPMorgan India Treasury Fund

JPMorgan India Smaller Companies Fund

JPMorgan India Active Bond Fund

JPMorgan India Tax Advantage FundJPMorgan JF Greater China Equity Off-shore Fund

JPMorgan India Short Term Income Fund

JPMorgan Emerging Europe, Middle East and Africa Equity-Off-shore Fund

(an open-ended equity growth scheme)

(an open-ended liquid scheme)

(an open ended income scheme)

(an open-ended equity growth scheme)

(an open-ended income scheme)

(an open-ended equity linked savings scheme)(an open ended fund of funds scheme)

(an open ended Income scheme)

(an open ended fund of funds scheme)

Common FormApplication

Asset Managers to JPMorgan Mutual Fund

This Key Information Memorandum (KIM) sets forth the information, which a prospective investor ought to know before investing. For further details of theScheme/Mutual Fund, due diligence certificate by the AMC, Key Personnel, investors' rights & services, risk factors, penalties & pending litigations etc. investors

should, before investment, refer to theScheme Information Document (SID)and Statement of AdditionalInformation(SAI) available freeof costat anyof theInvestor

Service Centresor distributors or fromthe websitewww.jpmorganmf.com.

The Scheme particulars have been prepared in accordance with Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended till date, and

have beenfiled withthe Securitiesand ExchangeBoard of India(SEBI).The unitsbeingofferedfor public subscription havenot beenapproved or disapproved bySEBI,

norhasSEBIcertified theaccuracy oradequacyof this KIM.

This memorandum isdated: April25,2011.


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TABLE OF CONTENTS

Page No.

JPMorgan India Equity Fund .............................................................................................................................................................................. 1

JPMorgan India Liquid Fund .............................................................................................................................................................................. 3

JPMorgan India Treasury Fund .......................................................................................................................................................................... 6

JPMorgan India Smaller Companies Fund ........................................................................................................................................................ 8

JPMorgan India Active Bond Fund .................................................................................................................................................................... 11

JPMorgan India Tax Advantage Fund ................................................................................................................................................................ 13

JPMorgan JF Greater China Equity Off-shore Fund.......................................................................................................................................... 16

JPMorgan India Short Term Income Fund ........................................................................................................................................................ 18

JPMorgan Emerging Europe, Middle East and Africa Equity Off-shore Fund ................................................................................................ 21

Comparison Between the Schemes ................................................................................................................................................................... 24

Common Features for all Schemes ................................................................................................................................................................... 26

Instructions & Notes ........................................................................................................................................................................................... 32

Common Application Form ................................................................................................................................................................................ 35

ECS Registration Cum Mandate Application Form ........................................................................................................................................... 37

STP / SWP Enrolment Form ............................................................................................................................................................................... 39

Form for Nomination / Cancellation of Nomination ........................................................................................................................................ 41

Multiple Bank Accounts Registration Form ...................................................................................................................................................... 43


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JPMORGAN INDIA EQUITY FUND

NAME OF THE SCHEMEJPMorgan India Equity Fund.

TYPE OF SCHEMEAn open-ended equity growth scheme.

INVESTMENT OBJECTIVEThe investment objective of the Scheme is to generate income and long-termcapital growth from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives.

However, there can be no assurance that the investment objective of theScheme will be realised.

ASSET ALLOCATION PATTERNUnder normal circumstances, it is anticipated that the asset allocation shallbe as follows:

Instrument Normal allocation Risk(% of net assets) profile

Equity and equity related securit ies* 65 - 100% Medium to High

Debt and money market instruments 0 - 35% Low to Medium

* Includes investments in equity and equity related securities issued bydomestic companies; including derivatives traded on the Futures andOptions segment of Indian stock exchanges not exceeding 50% of the netassets of the Scheme, offshore securities, ADRs and GDRs not exceeding10% of the net assets of the Scheme as on March 31 of each relevant year.Investment in securitised debt may be made to the extent of 20% of netassets of the Scheme.

RISK MITIGATION FACTORSRisk and Description Risk Mitigants / Management Strategyspecific to Equities#

Quality Risk The stock selection process is an important partRisk of investing in of the idea generation stage, as it provides theunsustainable / weak greater part of added value to the investments.companies Underpinning the stock selection process is the

rigorous research conducted by dedicatedspecialists. The approach to stock selection islargely specific, which means that these investmentprofessionals have the responsibility to design andrefine their stock selection process to cope withthe dynamic local factors and market conditions.

Quality analysis based investment approach:

(i) Management

(ii) Capital structure

(iii) Sustainability of competitive advantage

(iv) Return on equity

(v) Industry attractiveness

In general, there are three primary sources ofinvestment return which the investmentprofessionals normally focus on and they form thebasic premise of the stock selection process:

(i) Growth - companies that exhibit sustainableearnings growth in excess of the marketthrough an economic cycle;

(ii) Valuations - quantitative analysis in evaluatingthe value and profitability of the company;

(iii) Dividend yield - an additional source of return,over and above capital appreciation.

Price Risk During company visits, qualitative assessments ofRisk of overpaying for the relative growth prospects of the companiesa company concerned are made and strategies are decided to

create shareholder value. Industries in whichcompanies operate are analysed along with thecompetitive landscape as well as the managementstrategy to enhance competitive advantage andreturns. As part of the process, meetings areorganised not only with companies that fall within

the core stock coverage, but also with theircompetitors, distributors, suppliers and otherstakeholders in order to obtain a complete pictureof the industry/company and other investmentopportunities. In the process, a clear

understanding of the business is arrived at,enabling the identification of future long-termwinners at an early stage.

Concentration Risk Portfolio construction is the responsibility of theinvestment manager assigned to each fund.

There are three objectives to the portfolioconstruction process:

(i) to capture and preserve value from all the bestideas by country specialists;

(ii) to ensure no single decision will derailperformance; and

(iii) to deliver in line with the fund's risk/returnprofiles.

Portfolios are constructed using a disciplinedand tailored approach, and there is a highdegree of commonality across accounts withsimilar objectives and profiles. During theprocess, the investment manager assigns atarget percentage weight based upon

variations, positive or negative, from thepredetermined fund benchmark weight.Investment managers may also incorporatetheir own views on individual stocks andexercise discretion to align with the aboveguidelines with the objective that is likely tobe achieved by inclusion of the stock in a fundportfolio. The investment manager will alsoreconcile any other anomalies between thestock rankings and portfolio requirements withthe overall objective of adding value to the fundportfolio.

The Risk Management / Middle Office overseesinvestment managers to ensure compliance withthe fund's internal requirements. The buy / selldecisions generated at the portfolio constructionstage of the process are automatically checked

against fund guidelines, and electronicallyforwarded to the trading team for execution.

Liquidity Risk Dealing in volatile, often illiquid markets imposesHigh impact costs a cost on an active investment manager. The

responsibility for minimizing the performance draglies with the Dealing team whose focus is tominimize market impact and transaction costs. Thecompetitive advantages in achieving this objectiveare:

(i) An experienced team.

(ii) State of the art systems and on-goinginvestment in trading technology.

(iii) Analysis of historical transactions andassociated impact costs used to determinetrading strategies.

(iv) Low commission rates paid to brokers, reducingdirect costs per trade.

(v) Significant overall commission payout ensuringpremium service from investment banks andbrokerage firms.

The success of the dealing team can be measuredby comparing each execution to the VolumeWeighted Average Price (VWAP) and on-linethrough the independent Best ExecutionComparison Service (BECS) which comparestransaction costs with those of the competition.Effectiveness of the dealing team is measured onan ongoing basis.

Volatility As explained above, the volatility arising out ofPrice volatility due to portfolio specific factors are being mitigated usingcompany or portfolio a combination of various methods as explainedspecific factors above.

Event Risk As explained above, the volatility arising out of

Price volatility due to portfolio specific factors are being mitigated usingcompany or portfolio a combination of various methods as explainedspecific events above.

# Includes equity and equity related securities.

Risk and Description Risk Mitigants / Management Strategyspecific to Equities#


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RISK PROFILE OF THE SCHEMEMutual Fund Units involve investment risks including the possible loss ofprincipal. Please read the SID carefully for details on risk factors beforeinvestment. Standard and Scheme Specific Risk Factors are summarized atthe end of this document.

PLANS AND OPTIONSThe Scheme offers two options - growth option and dividend option. Thedividend option offers dividend payout and dividend reinvestment. Under thegrowth option, no dividend will be declared. Under the dividend option, adividend may be declared by the Trustee, at its discretion, from time to time(subject to the availability of distributable surplus as calculated in accordancewith the Regulations). If the investor does not clearly specify the choice ofoption at the time of investing, it will be treated as a growth option.

If the investor does not clearly specify the choice of dividend payout orreinvestment options within the dividend option, he will be treated as havingselected the reinvestment option.

APPLICABLE NAVThe Cut-off time for the Scheme is 3 pm, and the Applicable NAV will be asunder:

For Purchase / Redemption

(a) In respect of valid Purchase / Redemption applications along with cheques /demand drafts / other payment instruments accepted at a DesignatedCollection Centre up to 3.00 pm on a Business Day, the NAV of such daywill be applicable.

(b) In respect of valid Purchase / Redemption applications along with cheques /demand drafts / other payment instruments accepted at a DesignatedCollection Centre after 3.00 pm on a Business Day, the NAV of the nextBusiness Day will be applicable.

The above will be applicable only for cheques / demand drafts / paymentinstruments payable locally in the city in which a Designated Collection Centreis located. No outstation cheques will be accepted.

For Switches

Valid applications for 'switch-out' shall be treated as applications forRedemption and valid applications for 'switch-in' shall be treated asapplications for Purchase, and the provisions of the Cut-off time and theApplicable NAV mentioned in the Offer Document as applicable to Purchase

and Redemption shall be applied respectively to the 'switch-in' and 'switch-out' applications.

MINIMUM APPLICATION AMOUNT / NUMBER OF UNITS

Minimum initial R 5,000 per application and inapplication amount multiples of R 1/- thereof.

Minimum additional R 1,000 per application and in multiplesapplication amount of R 1/- thereof

Minimum redemption / R 1,000 or 100 Units. (The minimum amountno. of Units balance after Redemption should be R 500.

In case the balance falls below R 500 theunits will be automatically redeemed alongwith the last redemption request.)

DESPATCH OF REPURCHASE (REDEMPTION) REQUESTRedemption proceeds will be paid by cheques, marked A/c Payee only and

drawn in the name of the sole holder / first-named holder (as determined bythe records of the Registrar).

The Mutual Fund will endeavour to despatch the Redemption proceeds within3 Business Days from the acceptance of the Redemption request, but notbeyond 10 Business Days from the date of Redemption. If the payment is notmade within the period stipulated in the Regulations, the Unit Holder shall bepaid interest @ 15% p.a. for the delayed period and the interest shall be borneby the AMC.

The bank name and bank account number, as specified in the Registrarsrecords, will be mentioned in the cheque. The cheque will be payable at par atall the cities having ISCs. If the Unit Holder resides in any other city, he will bepaid by a demand draft payable at the city of his residence and the demanddraft charges shall be borne by the AMC. The proceeds may be paid by way ofdirect credit / NEFT / RTGS / any other manner through which the investorsbank account specified in the Registrars records may be credited with theRedemption proceeds.

Note: The Trustee, at its discretion at a later date, may choose to alter or addother modes of payment.

The Redemption proceeds will be sent by courier or (if the addressee city isnot serviced by the courier) by registered post. The despatch for the purposeof delivery through the courier / postal department, as the case may be, shall

be treated as delivery to the investor. The AMC / Registrar are not responsiblefor any delayed delivery or non-delivery or any consequences thereof, if thedespatch has been made correctly as stated in this paragraph.

BENCHMARK FOR PERFORMANCE COMPARISON

BSE-200 index.

DIVIDEND POLICYThe Trustee may decide to distribute by way of dividend, the surplus by way ofrealised profit, dividends and interest, net of losses, expenses and taxes, ifany, to Unit Holders in the dividend option of the Scheme if such surplus isavailable and adequate for distribution in the opinion of the Trustee. TheTrustees decision with regard to availability and adequacy, rate, timing andfrequency of distribution shall be final. The dividend will be due to only thoseUnit Holders whose names appear in the register of Unit Holders in the dividendoption of the Scheme on the record date which will be announced in advancein accordance with MF Regulations. The Unit Holders have the option ofreceiving the dividend or reinvesting the same. The dividend will be reinvestedat the Applicable NAV of the immediately following Business Day.

The AMC shall dispatch to the Unit Holders, the dividend warrants within 30(thirty) days of the date of declaration of dividend. The dividend distributionprocedure shall be in accordance with the Regulations.

NAME OF THE FUND MANAGER(S)For Equity : Mr. Harshad Patwardhan & Mr. Amit Gadgil

For Debt : Mr. Nandkumar Surti & Mr. Namdev Chougule

PERFORMANCE OF THE SCHEMEScheme Returns as on 31st March, 2011

Scheme returns (%) BSE 200 (%)

Since inception 8.26% 8.75%

1 year 14.42% 8.15%

3 year 7.39% 7.17%

Absolute returns for each financial year for the last 4 years

Note:CAGR are given for more than one year. Absolute returns of the growthoption are computed for a period of less than one year. "Since inception"returns are calculated on R 10 invested at inception.

Past performance may or may not be sustained in future. All calculationsassume that all payouts during the period have been re-invested in the unitsof the scheme.

*Allotment date: 14 June, 2007

EXPENSES OF THE SCHEME

As per the Regulations, the following fees and expenses can be charged to theScheme:

1. Initial issue expenses

No initial issue expenses were charged to the scheme.

2. Recurring expenses

These are the fees and expenses for operating the Scheme. These expensesinclude investment management and advisory fee charged by the AMC, theRegistrar and Transfer Agents fee, marketing and selling costs etc. as given inthe table below:

The AMC has estimated that upto 2.50% of the daily average net assets of theScheme will be charged to the Scheme as expenses. For the actual currentexpenses being charged, the investor should refer to the website of the MutualFund (www.jpmorganmf.com).

Nature of expense % of net assets

Investment management & advisory fees 1.250

Custodian fees 0.100

Registrar & transfer agent fees including 0.150cost related to providing account statement,dividend/redemption cheques/warrants etc.

120.00%

90.00%

60.00%

30.00%

0.00%

-30.00%

-60.00%

BSE 200

2007-08

Scheme returns

-40.92% -40.98%

83.19%92.87%

Financial Years

2008-09 2010-112009-10

14.42% 8.15%

*9.15%*11.73%


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Marketing & selling expenses includingagents commission and statutory advertisement

0.505Brokerage and transaction cost pertaining tothe distribution of units

Audit fees/fees and expenses of the Trustee 0.065

Costs related to investor communications 0.040

Costs of fund transfer from location to location 0.010

Other Expenses* 0.380

Total Annual Scheme Recurring Expenses 2.500

*Other expenses: Any other expenses which are directly attributable to theScheme may be charged with approval of the Trustee within the overall limitsas specified in the Regulation 52(6) except those expenses which are specificallyprohibited.

These estimates have been made in good faith as per the information availableto the AMC based on past experience and are subject to change inter-se. Typesof expenses charged shall be as per the SEBI (MF) Regulations.

The AMC may incur actual expenses which may be more or less than those

estimated above, under any head and / or in total. The AMC will charge theScheme such actual expenses incurred, subject to the statutory limit prescribedin the Regulations, the current limits of which are given below:

Maximum recurring expenses:

Daily average net assets Maximum, as a % ofdaily average net assets

First R 100 crores 2.50%

Next R 300 crores 2.25%


Balance assets 1.75%

Maximum investment management fee to be charged by the AMC:




Any excess over these limits will be borne by the AMC.

Recurring expenses (Actual expenses for the financial year ending):

Particulars March2011

Total Recurring expenses as a percentage 2.26%of Daily / Weekly average net assets

LOAD STRUCTURE OF THE SCHEME1. Entry Load:

NIL

2. Exit Load:

For redemption Exit Load(% of applicable NAV)

Within 12 months from the date of 1.00%allotment in respect of Purchase madeother than through SIP

Within 12 months from the date of 1.00%allotment in respect of the firstPurchase made through SIP

A switch-out or a withdrawal under SWP shall also attract an Exit Load like anyRedemption.

No load for units allotted under dividend reinvestment option.

No Exit Loads will be chargeable in case of switches made between differentoptions of the Scheme.

Subject to the Regulations, the Trustee retains the right to change / imposean Exit Load.

To know the latest position on Loads structure prior to investing /

redemption, investors are advised to contact any of the ISCs or the AMC atits toll-free number "1-800-22-5763".

The investor is requested to check the prevailing load structure of the Schemebefore investing.

All Exit Loads are intended to enable the AMC to recover expenses incurredfor promotion or distribution and sale of the Units of the Scheme. All Loadswill be retained in the Scheme in a separate account and will be utilised tomeet the distribution and marketing expenses. Any surplus amounts in thisaccount may be credited to the Scheme whenever considered appropriate bythe AMC.

DAILY NET ASSET VALUE (NAV) PUBLICATIONThe Mutual Fund shall declare the NAV of the Scheme on every Business Dayon AMFIs website www.amfiindia.com by 9.00 p.m. and also on its own websitewww.jpmorganmf.com. In case of any delay, the reasons for such delay wouldbe explained to AMFI. If the NAVs are not available before commencement ofbusiness hours on the following Business Day due to any reason, the MutualFund shall issue a press release providing reasons and explaining when theMutual Fund would be able to publish the NAVs.

JPMORGAN INDIA LIQUID FUND

NAME OF THE SCHEMEJPMorgan India Liquid Fund.

TYPE OF SCHEMEAn open-ended liquid scheme.

INVESTMENT OBJECTIVEThe investment objective of the Scheme is to provide reasonable returns,commensurate with low risk while providing a high level of liquidity, througha portfolio of money market and debt securities. However there can be noassurance that the investment objectives of the Scheme will be realized.

ASSET ALLOCATION PATTERNUnder normal circumstances it is anticipated that the asset allocation shall beas follows:

For both Plans (Retail Plan & Super Institutional Plan) w.e.f. May 1, 2009

Investments Normal asset allocation Risk(% of net assets) profile

Money market instruments Up to 100% Low(including cash and reverse repoand debt instruments with maturityup to 91 days)*

Securitised debt instruments Up to 30% Lowwith maturity up to 91 days

*Investment in Derivatives - Up to 10% of the net asset of the Scheme

RISK MITIGATION FACTORS


There are three objectives to the portfolioconstruction process:(i) to capture and preserve value from all the best

ideas by country specialists;(ii) to ensure no single decision will derail

performance; and(iii) to deliver in line with the fund's risk/return

profiles.

Portfolios are constructed using a disciplinedand tailored approach, and there is a highdegree of commonality across accounts withsimilar objectives and profiles. During theprocess, the investment manager assigns atarget percentage weight based uponvariations, positive or negative, from thepredetermined fund benchmark weight.Investment managers may also incorporatetheir own views on individual security andexercise discretion to align with the aboveguidelines with the objective that is likely tobe achieved by inclusion of the security in afund portfolio. The investment manager willalso reconcile any other anomalies between thesecurity rankings and portfolio requirementswith the overall objective of adding value tothe fund portfolio.



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The Risk Management / Middle Office overseesinvestment managers to ensure compliance withthe fund's internal requirements.



(i) An experienced team.(ii) State of the art systems and on-going

investment in trading technology.(iii) Analysis of historical transactions and

associated impact costs used to determinetrading strategies.



Effectiveness of the dealing team is measured onan ongoing basis.



PLANS & OPTIONSThe Scheme has two plans: Retail Plan and Super Institutional Plan.

Retail Plan:

Growth: Under the growth option no dividend will be declared.Dividend: The dividend option offers daily, weekly, fortnightly and monthlydividend reinvestment options.

Super Institutional Plan:

Growth: Under the growth option no dividend will be declared.

Dividend: The dividend option offers daily, weekly, fortnightly and monthlydividend reinvestment options.

Under the Super Institutional Plan, the dividend option will also offer weekly,fortnightly and monthly payout.

Under the dividend option, a dividend may be declared by the Trustee, at itsdiscretion, from time to time (subject to the availability of distributable surplusas calculated in accordance with the Regulations).

APPLICABLE NAVFor Purchase under both the Plans

i. where the application is received upto 2.00 p.m. on a day and funds areavailable for utilization before the cut-off time without availing any creditfacility, whether, intra-day or otherwise the closing NAV of the dayimmediately preceding the day of receipt of application;

ii. where the application is received after 2.00 p.m. on a day and funds areavailable for utilization on the same day without availing any credit facility,whether, intra-day or otherwise the closing NAV of the day immediatelypreceding the next business day; and

iii. irrespective of the time of receipt of application, where the funds are notavailable for utilization before the cut-off time without availing any creditfacility, whether, intra-day or otherwise the closing NAV of the dayimmediately preceding the day on which the funds are available forutilization.

For allotment of Units in respect of Purchase in the Scheme, thefollowing needs to be complied with:

i. Application is received before the applicable cut-off time.

ii. Funds for the entire amount of Subscription/Purchase as per theapplication are credited to the bank account of the Scheme before thecut-off time.

iii. The funds are available for utilization before the cut-off time withoutavailing any credit facility whether intra-day or otherwise, by the Scheme.

For allotment of units in respect of switch-in to the Scheme from otherschemes, the following needs to be complied with:

i. Application for switch-in is received before the applicable cut-off time.

ii. Funds for the entire amount of Subscription/Purchase as per the switch-in request are credited to the bank account of the switch-in Scheme before

the cut-off time.iii. The funds are available for utilization before the cut-off time without

availing any credit facility whether intra-day or otherwise, by the switch-in Scheme.


For Redemption under both the Plans

(a) where the application is received upto 3.00 p.m. - the closing NAV of theday immediately preceding the next Business Day ; and

(b) where the application is received after 3.00 p.m. - the closing NAV of thenext Business Day.

Note: In case the application is received on a Non-Business Day, it will beconsidered as if received on the Next Business Day.

For Switches

Valid applications for switch-out shall be treated as applications forRedemption and valid applications for switch-in shall be treated asapplications for Purchase, and the provisions of the Cut-off time and theApplicable NAV mentioned in this SID as applicable to Purchase andRedemption shall be applied respectively to the switch-in and switch-outapplications.

MINIMUM APPLICATION AMOUNT / NUMBER OF UNITSRetail Plan Super

Institutional Plan

Minimum initial R 5,000 per R 1 Crore perapplication amount application and in application and in

multiples of R 1 multiples of R 1thereafter. thereafter.

Minimum additional R 1,000 per R 1 per applicationapplication amount application and in and in multiples of

multiples of R 1 thereafterR 1 thereafter

Minimum redemption R 5,000 or R 5,000 oramount / no. of Units 500 Units 500 Units

DESPATCH OF REPURCHASE (REDEMPTION) REQUESTRedemption proceeds will be paid by cheques, marked A/c Payee only anddrawn in the name of the sole holder / first-named holder (as determined bythe records of the Registrar).

The Mutual Fund will endeavour to despatch the Redemption proceeds within1 Business Day from the acceptance of the Redemption request, but not beyond10 Business Days from the date of Redemption. If the payment is not madewithin the period stipulated in the Regulations, the Unit Holder shall be paidinterest @ 15% p.a. for the delayed period and the interest shall be borne bythe AMC.

The bank name and bank account number, as specified in the Registrars

records, will be mentioned in the cheque. The cheque will be payable at par atall the cities having ISCs. If the Unit Holder resides in any other city, he will bepaid by a demand draft payable at the city of his residence and the demanddraft charges shall be borne by the AMC. The proceeds may be paid by way ofdirect credit / NEFT / RTGS / any other manner through which the investorsbank account specified in the Registrars records may be credited with theRedemption proceeds.


The Redemption proceeds will be sent by courier or (if the addressee city isnot serviced by the courier) by registered post. The despatch for the purposeof delivery through the courier / postal department, as the case may be, shallbe treated as delivery to the investor. The AMC / Registrar are not responsiblefor any delayed delivery or non-delivery or any consequences thereof, if thedespatch has been made correctly as stated in this paragraph.

BENCHMARK FOR PERFORMANCE COMPARISONCRISIL Liquid Fund Index.

DIVIDEND POLICYThe Trustee may decide to distribute by way of dividend, the surplus by way ofrealised profit, dividends and interest, net of losses, expenses and taxes, if


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any, to Unit Holders in the dividend option of the Scheme if such surplus isavailable and adequate for distribution in the opinion of the Trustee. TheTrustees decision with regard to availability and adequacy, rate, timing andfrequency of distribution shall be final. The dividend will be due to only thoseUnit Holders whose names appear in the register of Unit Holders in the dividendoption of the Scheme on the record date which will be announced in advancein accordance with MF Regulations. The Unit Holders have the option ofreceiving the dividend or reinvesting the same. The dividend will be reinvestedat the Applicable NAV of the immediately following Business Day. The AMCshall dispatch to the Unit Holders, the dividend warrants within 30 (thirty)days of the date of declaration of dividend. The dividend distribution procedureshall be in accordance with the Regulations.

NAME OF THE FUND MANAGER(S)Mr. Nandkumar Surti and Mr. Namdev Chougule.


Retail CRISIL Liquid Super CRISIL Liquid(%) Fund Index (%) Institutional (%) Fund Index (%)

Since inception 6.24% 5.89% 7.01% 6.31%

1 year 6.57% 6.21% 6.79% 6.21%3 year NA NA 6.83% 6.22%


Note:CAGR are given for more than one year. Absolute returns of the growthoption are computed for a period of less than one year. "Since inception"returns are calculated on R 10 invested at inception.


Allotment dates :*Super Institutional Plan : 21 September, 2007.#Retail Plan : 16 September, 2008.

EXPENSES OF THE SCHEMEAs per the Regulations, the following fees and expenses can be charged to theScheme:


No initial issue expenses were charged to the Scheme.

2. Recurring expenses

These are the fees and expenses for operating the Scheme. These expensesinclude investment management and advisory fee charged by the AMC, the

Registrar and Transfer Agents fee, marketing and selling costs etc. as given inthe table below:



Retail SuperPlan Institutional Plan

Investment management fee 0.200 0.200

Trustee fees 0.005 0.005

Custodian fees 0.005 0.005

Registrar & transfer agent fees 0.040 0.030

Marketing & selling expenses 0.400 0.150

including agents commission

Audit fees and statutory advertisements 0.015 0.015

Unit Holder servicing, investor 0.008 0.008communication expenses

Costs of fund transfer 0.005 0.005

Service tax 0.033 0.033

Other operating expenses* 0.089 0.049

Total annual scheme recurring expenses 0.800 0.500

* Other expenses: Any other expenses which are directly attributable to theScheme may be charged with approval of the Trustee within the overall limitsas specified in the Regulation 52(6) except those expenses which are specificallyprohibited. The AMC reserves the right to change the above, both inter se orin total, subject to prevailing Regulations.


The AMC will charge the Scheme such actual expenses incurred, subject tothe statutory limit prescribed in the Regulations, the current limits of whichare given below:

Maximum recurring expenses :










Any excess over these limits will be borne by the AMC.Recurring expenses (Actual expenses for the financial year ending):


Super Institutional Plan:Total Recurring expenses as a percentage of Daily / Weekly 0.35%average net assets

Retail Plan:Total Recurring expenses as a percentage of Daily / Weekly 0.55%average net assets

LOAD STRUCTURE OF THE SCHEMEEntry Load: NIL

Exit Load: NIL

To know the latest position on Loads structure prior to investing /redemption, investors are advised to contact any of the ISCs or the AMC atits toll-free number "1-800-22-5763".


All Loads are intended to enable the AMC to recover expenses incurred forpromotion or distribution and sales of the Units of the Scheme. All Loads willbe retained in the Scheme in a separate account and will be utilised to meetdistribution and marketing expenses. Any surplus amounts in this accountmay be credited to the Scheme whenever considered appropriate by the AMC.

DAILY NET ASSET VALUE (NAV) PUBLICATIONThe AMC will calculate and disclose the NAV of the Scheme on every BusinessDay. The NAV of the Scheme will be made available at all ISCs of the AMC. TheAMC shall update the NAVs on the website of the Fund (www.jpmorganmf.com)and of the Association of Mutual Funds in India (www.amfiindia.com) by

9.00 p.m. on every Business Day. In case of any delay, the reasons for suchdelay would be explained to AMFI. If the NAVs are not available beforecommencement of business hours on the following Business Day due to anyreason, the Fund shall issue a press release providing reasons and explainingwhen the Fund would be able to publish the NAV.



Retail Super Institutional CRISIL Liquid Fund Index

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%

4.57%

3.69%4.36%

Financial Years

*4.18%*3.53%

6.79%6.21%6.57%

#4.83%

9.18% 8.81%

#4.98%

2007-08 2008-09 2009-10 2010-11


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JPMORGAN INDIA TREASURY FUND

NAME OF THE SCHEMEJPMorgan India Treasury Fund.

TYPE OF SCHEMEAn open-ended income scheme.

INVESTMENT OBJECTIVEThe investment objective is to provide liquidity and optimal returns to investorsby investing primarily in a mix of short-term debt and money marketinstruments which results in a portfolio having marginally higher maturityand moderately higher credit risk as compared to a liquid fund, at the sametime maintaining a balance between safety and liquidity. However, there canbe no assurance that the investment objective of the Scheme will berealized.


For both Plans (Retail Plan & Super Institutional Plan)

Investments Normal asset allocation Risk(% of net assets) profile

Money market & debt instruments with 70 - 100% Lowmaturity / average maturity / interestrate reset not greater than 1 year

Debt instruments with maturity greater 0 - 30% Low tothan 1 year but less than 3 years* Medium

* Debt Instruments include securitised debt. Securitised debt can be up to50% of the net assets. Investment in Derivatives - up to 50% of the netassets of the Scheme.

RISK MITIGATION FACTORSConcentration Risk Portfolio construction is the responsibility of the

investment manager assigned to each fund.

There are three objectives to the portfolioconstruction process:(i) to capture and preserve value from all the best

ideas by country specialists;(ii) to ensure no single decision will derail

performance; and(iii) to deliver in line with the fund's risk/return

profiles.

Portfolios are constructed using a disciplinedand tailored approach, and there is a highdegree of commonality across accounts withsimilar objectives and profiles. During theprocess, the investment manager assigns atarget percentage weight based uponvariations, positive or negative, from thepredetermined fund benchmark weight.Investment managers may also incorporate

their own views on individual security andexercise discretion to align with the aboveguidelines with the objective that is likely tobe achieved by inclusion of the security in afund portfolio. The investment manager willalso reconcile any other anomalies between thesecurity rankings and portfolio requirementswith the overall objective of adding value tothe fund portfolio.



responsibility for minimizing the performance draglies with the Dealing team whose focus is to

minimize market impact and transaction costs. Thecompetitive advantages in achieving this objectiveare:









PLANS & OPTIONSThe Scheme has two plans: Retail Plan and Super Institutional Plan.

Retail Plan:



Super Institutional Plan:



Under the Super Institutional Plan, the dividend option will also offer weekly,fortnightly and monthly payout.

Under the dividend option, a dividend may be declared by the Trustee, at its

discretion, from time to time (subject to the availability of distributable surplusas calculated in accordance with the Regulations).

APPLICABLE NAVThe Cut-off time for the Scheme is 3.00 p.m. and the Applicable NAV will be asunder:

For Purchase

a. where the application is received upto 3.00 pm with a local cheque ordemand draft payable at par at the place where it is received, with amountless than R 1 crore closing NAV of the day of receipt of application;

b. where the application is received after 3.00 pm with a local cheque ordemand draft payable at par at the place where it is received, with amountless than R 1 crore closing NAV of the next Business Day;

c. where the application is received with a local cheque or demand draftpayable at par at the place where it is received, with amount equal to or

more thanR

1 crore irrespective of the time of receipt of application, theclosing NAV of the day on which the funds are available for utilisationshall be applicable.

Applicability of NAV for the Scheme with an amount equal to or more thanR 1 crore:

a) For allotment of units in respect of purchase in the Scheme, the followingneeds to be complied with:


ii. Funds for the entire amount of subscription/purchase as per theapplication are credited to the bank account of the respective Schemebefore the cutoff time.

iii. The funds are available for utilization before the cut-off time withoutavailing any credit facility whether intra-day or otherwise, by therespective Scheme.

b) For allotment of units in respect of switch-in to the Scheme from otherschemes, the following needs to be complied with:

i. Application for switch-in is received before the applicable cut-off time.

ii. Funds for the entire amount of subscription/purchase as per the switch-in request are credited to the bank account of the respective switch-inScheme before the cut-off time.


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iii. The funds are available for utilization before the cut-off time withoutavailing any credit facility whether intra-day or otherwise, by therespective switch-in Scheme or Plans or options thereunder.

For Redemption

a. where the application is received up to 3.00 pm closing NAV of the day

of receipt of application; andb. an application is received after 3.00 pm closing NAV of the next Business

Day.


For Switches

Valid applications for 'switch-out' shall be treated as applications forRedemption and valid applications for 'switch-in' shall be treated asapplications for Purchase, and the provisions of the Cut-off time and theApplicable NAV mentioned in the Offer Document as applicable to Purchaseand Redemption shall be applied respectively to the 'switch-in' and 'switch-out' applications.


Retail Plan Super Institutional Plan

Minimum initial R 5,000 per application R 1 Crore per applicationapplication amount and in multiples and in multiples

of R 1 thereafter. of R 1 thereafter.

Minimum additional R 1,000 per application R 1 per application and inapplication amount and in multiples multiples of R 1 thereafter

of R 1 thereafter

Minimum redemption R 5,000 or 500 Units R 5,000 or 500 Unitsamount / no. of Units


The Mutual Fund will endeavour to despatch the Redemption proceeds within3 Business Days from the acceptance of the Redemption request, but not

beyond 10 Business Days from the date of Redemption. If the payment is notmade within the period stipulated in the Regulations, the Unit Holder shall bepaid interest @15% p.a. for the delayed period and the interest shall be borneby the AMC.



The Redemption proceeds will be sent by courier or (if the addressee city isnot serviced by the courier) by registered post. The despatch for the purposeof delivery through the courier / postal department, as the case may be, shall

be treated as delivery to the investor. The AMC / Registrar are not responsiblefor any delayed delivery or non-delivery or any consequences thereof, if thedespatch has been made correctly as stated in this paragraph.

BENCHMARK FOR PERFORMANCE COMPARISONCRISIL Liquid Fund Index.

DIVIDEND POLICYThe Trustee may decide to distribute by way of dividend, the surplus by way ofrealised profit, dividends and interest, net of losses, expenses and taxes, ifany, to Unit Holders in the dividend option of the Scheme if such surplus isavailable and adequate for distribution in the opinion of the Trustee. TheTrustees decision with regard to availability and adequacy, rate, timing andfrequency of distribution shall be final. The dividend will be due to only thoseUnit Holders whose names appear in the register of Unit Holders in the dividendoption of the Scheme on the record date which will be announced in advancein accordance with MF Regulations. The Unit Holders have the option ofreceiving the dividend or reinvesting the same. The dividend will be reinvestedat the Applicable NAV of the immediately following Business Day. The AMCshall dispatch to the Unit Holders, the dividend warrants within 30 (thirty)days of the date of declaration of dividend. The dividend distribution procedureshall be in accordance with the Regulations.

NAME OF THE FUND MANAGER(S)Mr. Nandkumar Surti and Mr. Namdev Chougule.


Retail CRISIL Liquid Super CRISIL Liquid(%) Fund Index (%) Institutional (%) Fund Index (%)

Since inception 6.41% 5.89% 7.27% 6.31%

1 year 6.49% 6.21% 6.75% 6.21%

3 years NA NA 7.04% 6.22%


Note: CAGR are given for more than one year. Absolute returns of the growthoption are computed for a period of less than one year. "Since inception"returns are calculated on R 10 invested at inception.


Allotment dates:*Super Institutional Plan : 21 September, 2007.#Retail Plan : 16 September, 2008.



No initial issue expenses were charged to the scheme.2. Recurring expenses





Investment management fee 0.350 0.350

Trustee fees 0.005 0.005

Custodian fees 0.005 0.005Registrar & transfer agent fees 0.040 0.030

Marketing & selling expenses 0.340 0.200including agents commission

Audit fees and statutory advertisements 0.015 0.015

Unit Holder servicing, investor 0.008 0.008communication expenses

Costs of fund transfer 0.005 0.005

Service tax 0.039 0.039

Other operating expenses* 0.093 0.043

Total annual scheme recurring expenses 0.900 0.700

* Other expenses: Any other expenses which are directly attributable to theScheme may be charged with approval of the Trustee within the overall limitsas specified in the Regulation 52(6) except those expenses which are specifically

prohibited. The AMC reserves the right to change the above, both inter se orin total, subject to prevailing Regulations.


Retail Super Institutional CRISIL Liquid Fund Index

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%

9.25%8.81%

Financial Years

*4.46%*3.56%

#4.81%

#4.99% 6.49%6.75%

6.21%

4.89%5.15%

3.69%

2007-08 2008-09 2009-10 2010-11


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The AMC will charge the Scheme such actual expenses incurred, subject tothe statutory limit prescribed in the Regulations, the current limits of whichare given below:

Maximum recurring expenses:







Daily average net assets Maximum, as a % of daily average net assets

First R 100 crores 1.25%Balance assets 1.00%




Super Institutional Plan:Total Recurring expenses as a percentage of Daily / Weekly 0.50%average net assets

Retail Plan:Total Recurring expenses as a percentage of Daily / Weekly 0.75average net assets

LOAD STRUCTURE OF THE SCHEME1. Entry Load: NIL

2. Exit Load: NIL


The investor is requested to check the prevailing load structure of the Scheme

before investing.All Loads are intended to enable the AMC to recover expenses incurred forpromotion or distribution and sales of the Units of the Scheme. All Loads willbe retained in the Scheme in a separate account and will be utilised to meetthe distribution and marketing expenses. Any surplus amounts in this accountmay be credited to the Scheme whenever considered appropriate by the AMC.

DAILY NET ASSET VALUE (NAV) PUBLICATIONThe AMC will calculate and disclose the NAV of the Scheme on every BusinessDay. The NAV of the Scheme will be made available at all ISCs of the AMC. TheAMC shall update the NAVs on the website of the Fund (www.jpmorganmf.com)and of the Association of Mutual Funds in India (www.amfiindia.com) by9.00 p.m. on every Business Day. In case of any delay, the reasons for suchdelay would be explained to AMFI. If the NAVs are not available beforecommencement of business hours on the following Business Day due to anyreason, the Fund shall issue a press release providing reasons and explainingwhen the Fund would be able to publish the NAV.

JPMORGAN INDIA SMALLER COMPANIES FUND

NAME OF THE SCHEMEJPMorgan India Smaller Companies Fund

TYPE OF SCHEMEAn open-ended equity growth scheme.

INVESTMENT OBJECTIVEThe investment objective is to seek to generate long-term capital appreciationfrom a portfolio that is substantially constituted of equity and equity-relatedsecurities focused on smaller companies. Generally, the universe will be thecompanies constituting the bottom fourth by way of market capitalization ofstocks listed on the NSE / BSE. The fund manager may from time to timeinclude other equity and equity-related securities outside the universe toachieve optimal portfolio construction. However, there can be no assurancethat the investment objective of the scheme will be realised.

ASSET ALLOCATION PATTERNUnder normal circumstances, it is anticipated that the asset allocation shallbe as follows:

Instrument Normal allocation Risk(% of net assets) profile

Equity and equity related securities 65-100% Mediumof Smaller Companies* to High

Equity and equity related securities of 0-35% Mediumcompanies other than Smaller Companies* to High

Debt and money market 0-35% Low toinstruments Medium

* Includes investments in equity and equity related securities issued bydomestic companies; including derivatives traded on the Futures andOptions segment of Indian stock exchanges not exceeding 50% of the netassets of the Scheme, offshore securities, ADRs and GDRs not exceeding50% of the net assets of the Scheme. Investment in securitised debt maybe made to the extent of 20% of net assets of the Scheme.

RISK MITIGATION FACTORSRisk and Description Risk Mitigants / Management Strategyspecific to Equities#

Quality Risk The stock selection process is an important partRisk of investing in of the idea generation stage, as it provides the

unsustainable / weak greater part of added value to the investments.companies Underpinning the stock selection process is the

rigorous research conducted by dedicatedspecialists. The approach to stock selection islargely specific, which means that these investmentprofessionals have the responsibility to design andrefine their stock selection process to cope withthe dynamic local factors and market conditions.

Quality analysis based investment approach:

(i) Management

(ii) Capital structure

(iii) Sustainability of competitive advantage

(iv) Return on equity

(v) Industry attractiveness

In general, there are three primary sources ofinvestment return which the investmentprofessionals normally focus on and they form thebasic premise of the stock selection process:

(i) Growth - companies that exhibit sustainableearnings growth in excess of the marketthrough an economic cycle;

(ii) Valuations - quantitative analysis in evaluatingthe value and profitability of the company;

(iii) Dividend yield - an additional source of return,over and above capital appreciation.

Price Risk During company visits, qualitative assessments ofRisk of overpaying for the relative growth prospects of the companiesa company concerned are made and strategies are decided to

create shareholder value. Industries in whichcompanies operate are analysed along with thecompetitive landscape as well as the managementstrategy to enhance competitive advantage andreturns. As part of the process, meetings areorganised not only with companies that fall withinthe core stock coverage, but also with theircompetitors, distributors, suppliers and otherstakeholders in order to obtain a complete pictureof the industry/company and other investmentopportunities. In the process, a clearunderstanding of the business is arrived at,enabling the identification of future long-termwinners at an early stage.



(i) to capture and preserve value from all the bestideas by country specialists;




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to time (subject to the availability of distributable surplus as calculated inaccordance with the Regulations). If the investor does not clearly specify thechoice of option at the time of investing, it will be treated as a growth option.If the investor does not clearly specify the choice of dividend payout orreinvestment options within the dividend option, he will be treated as havingselected the reinvestment option.

APPLICABLE NAVThe cut-off time for the Scheme is 3 pm, and the Applicable NAV will be asunder:

For Purchase / Redemption

(a) In respect of valid Purchase / Redemption applications along with cheques /demand drafts / other payment instruments accepted at a DesignatedCollection Centre up to 3.00 pm on a Business Day, the NAV of such daywill be applicable.

(b) In respect of valid Purchase / Redemption applications along with cheques /demand drafts / other payment instruments accepted at a DesignatedCollection Centre after 3.00 pm on a Business Day, the NAV of the nextBusiness Day will be applicable.

The above will be applicable only for cheques / demand drafts / paymentinstruments payable locally in the city in which a Designated Collection Centre

is located. No outstation cheques will be accepted.For Switches

Valid applications for 'switch-out' shall be treated as applications forRedemption and valid applications for 'switch-in' shall be treated asapplications for Purchase, and the provisions of the cut-off time and theApplicable NAV mentioned in the Offer Document as applicable to Purchaseand Redemption shall be applied respectively to the 'switch-in' and 'switch-out' applications.


Minimum initial application amount R 5,000 per application andmultiples of R 1/- thereafter

Minimum additional application amount R 1,000 per application and inmultiples of R 1/- thereafter

Minimum amount / no. of units for R 1,000 or 100 Units

redemption






BENCHMARK INDEX FOR PERFORMANCE COMPARISONCNX Midcap Index.## (refer to end of section)

DIVIDEND POLICY

The Trustee may decide to distribute by way of dividend, the surplus by way ofrealised profit, dividends and interest, net of losses, expenses and taxes, ifany, to Unit Holders, if such surplus is available and adequate for distributionin the opinion of the Trustee. The Trustee's decision with regard to availabilityand adequacy, rate, timing and frequency of distribution shall be final. The

Portfolios are constructed using a disciplinedand tailored approach, and there is a highdegree of commonality across accounts with

similar objectives and profiles. During theprocess, the investment manager assigns atarget percentage weight based uponvariations, positive or negative, from thepredetermined fund benchmark weight.Investment managers may also incorporatetheir own views on individual stocks andexercise discretion to align with the aboveguidelines with the objective that is likely tobe achieved by inclusion of the stock in a fundportfolio. The investment manager will alsoreconcile any other anomalies between thestock rankings and portfolio requirements withthe overall objective of adding value to the fundportfolio.

The Risk Management / Middle Office overseesinvestment managers to ensure compliance with

the fund's internal requirements. The buy / selldecisions generated at the portfolio constructionstage of the process are automatically checkedagainst fund guidelines, and electronicallyforwarded to the trading team for execution.





(iii) Analysis of historical transactions and

associated impact costs used to determinetrading strategies.



The success of the dealing team can be measuredby comparing each execution to the VolumeWeighted Average Price (VWAP) and on-linethrough the independent Best ExecutionComparison Service (BECS) which comparestransaction costs with those of the competition.Effectiveness of the dealing team is measured onan ongoing basis.

Volatility As explained above, the volatility arising out of

Price volatility due to portfolio specific factors are being mitigated usingcompany or portfolio a combination of various methods as explainedspecific factors above.

Event Risk As explained above, the volatility arising out ofPrice volatility due to portfolio specific factors are being mitigated usingcompany or portfolio a combination of various methods as explainedspecific events above.

# Includes equity and equity related securities.


PLANS AND OPTIONSThe Scheme offers two options - growth option and dividend option. Thedividend option offers dividend payout and dividend reinvestment.

Under the growth option, no dividend will be declared. Under the dividendoption, a dividend may be declared by the Trustee, at its discretion, from time

Risk and Description Risk Mitigants / Management Strategyspecific to Equities#


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10

dividend will be due to only those Unit Holders whose names appear in theregister of Unit Holders in the dividend option of the Scheme on the recorddate which will be announced in advance. The Unit Holders have the option ofreinvesting the dividend.

NAME OF THE FUND MANAGERSFor Equity : Mr. Harshad Patwardhan & Mr. Amit Gadgil

For Debt : Mr. Nandkumar Surti & Mr. Namdev Chougule.


Scheme CNX Midcapreturns (%) Index (%)

Since inception -8.00% -3.02%

1 year 11.28% 4.35%

3 years 1.59% 8.81%


Note: CAGR are given for more than one year. Absolute returns of the growthoption are computed for a period of less than one year. "Since inception"returns are calculated on R 10 invested at inception.


*Allotment date: 26 December, 2007



No initial issue expenses were charged to the scheme.

2. Annual Scheme Recurring expenses



Daily average net assets % of net assets

Investment management & advisory fees 1.250

Custodian fees 0.100

Registrar & transfer agent fees including 0.150cost related to providing account statement,dividend/redemption cheques/warrants etc.

Marketing & selling expenses includingagents commission and statutory advertisement

0.505Brokerage and transaction cost pertaining tothe distribution of units

Audit fees/fees and expenses of the Trustee 0.065

Costs related to investor communications 0.040

Costs of fund transfer from location to location 0.010

Other Expenses* 0.380

Total Annual Scheme Recurring Expenses 2.500

*Other expenses: Any other expenses which are directly attributable to theScheme may be charged with approval of the Trustee within the overall limitsas specified in the Regulation 52(6) except those expenses which are specificallyprohibited.


The AMC will charge the Scheme such actual expenses incurred, subject tothe statutory limit prescribed in the Regulations, the current limits of which

are given below:Maximum Recurring Expenses:


First R 100 crore 2.50%

Next R 300 crore 2.25%

Next R 300 crore 2.00%


Maximum Investment Management Fee to be charged by the AMC:







Total Recurring expenses as a percentage of Daily / Weekly 2.36%average net assets

LOAD STRUCTURE OF THE SCHEME1. Entry Load: NIL

2. Exit Load:

For Redemption Exit Load (%of Applicable NAV)

Within 12 months from the date of allotment in 1.00%respect of Purchase made other than through SIP

Within 12 months from the date of allotment in 1.00%respect of the first Purchase made through SIP

No load for units allotted under dividend reinvestment option.

No Exit Loads will be chargeable in case of switches made between differentoptions of the Scheme.

Subject to the Regulations, the Trustee retains the right to change / imposean Exit Load.



DAILY NET ASSET VALUE (NAV) PUBLICATIONThe AMC will calculate and disclose the NAV of the Scheme on every Business

Day. The NAV of the Scheme will be made available at all ISCs of the AMC. TheAMC shall update the NAVs on the website of the Fund (www.jpmorganmf.com)and of the Association of Mutual Funds in India (www.amfiindia.com) by 9.00pm on every Business Day. In case of any delay, the reasons for such delaywould be explained to AMFI. If the NAVs are not available beforecommencement of business hours on the following Business Day due to anyreason, the Fund shall issue a press release providing reasons and explainingwhen the Fund would be able to publish the NAV.

## IISL Disclaimer:

"The JPMorgan India Smaller Companies Fund is not sponsored, endorsed,sold or promoted by India Index Services & Products Limited (IISL). IISL makesno representation or warranty, express or implied to the owners of the Productor any member of the public regarding the advisability of investing in securitiesgenerally or in the Product particularly or the ability of the CNX Midcap Indexto track general stock market performance in India. The relationship of IISL toJPMorgan Asset Management India Pvt. Ltd. is in respect of using of thetrademark and trade name of CNX Midcap Index for benchmarking purposes,which is determined, composed and calculated by IISL without regard toJPMorgan Asset Management India Pvt. Ltd. IISL has no obligation to take theneeds of JPMorgan Asset Management India Pvt. Ltd. or the owners of theProduct into consideration in determining, composing or calculating the CNX

150.00%

120.00%

90.00% 60.00%

30.00%

0.00%

-30.00%

-60.00%

CNX Midcap Index

2007-08

Scheme returns

-57.77% -45.40%

123.15% 126.12%

Financial Years

2008-09 2009-10 2010-11

11.28% 4.35%

*-27.37% *-29.79%


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Midcap Index. IISL is not responsible for nor has participated in thedetermination of the timing of, prices at, or quantities of the Product to beissued or in determination or calculation of the equation by which the productis to be converted into cash. IISL has no obligation or liability in connectionwith the administration, marketing or trading of the Product.

"IISL does not guarantee the accuracy and/or the completeness of the CNXMidcap Index or any data included therein and they shall have no liability forany errors, omissions, or interruptions therein. IISL makes no warranty, expressor implied, as to the results to be obtained by the Principal JPMorgan AssetManagement India Pvt. Ltd., owners of the Product, or any other persons orentities from the use of the CNX Midcap Index or any data included therein.IISL makes no express or implied warranties and expressly disclaims allwarranties of merchantability or fitness for a particular purpose or use withrespect to the CNX Midcap Index or any data included therein. Without limitingany of the foregoing, in no event shall IISL have any liability for any special,punitive, indirect or consequential damages (including lost profits), even ifnotified of the possibility of such damages."

JPMORGAN INDIA ACTIVE BOND FUND

NAME OF THE SCHEME

JPMorgan India Active Bond Fund

TYPE OF SCHEMEAn open-ended income scheme.

INVESTMENT OBJECTIVETo generate optimal returns while maintaining liquidity through activemanagement of the portfolio by investing in debt and money marketinstruments. However, there can be no assurance that the investment objectiveof the Scheme will be realized.


For both Plans (Retail Plan & Institutional Plan)

Investment Normal allocation Risk(% of net assets) profile

Money Market & Debt instruments with 10 - 100% Lowmaturity / average maturity / interest ratereset not greater than one year

Debt* instruments including government 0 - 90% Low tosecurities and corporate Debt Medium

* Debt instruments include securitised debt. Securitised debt (excludingforeign securitised debt) can be up to 50% of the net assets of the scheme.Investment in derivatives also - up to 50% of the net asset of the Scheme

RISK MITIGATION FACTORS



(i) to capture and preserve value from all the best

ideas by country specialists;



Portfolios are constructed using a disciplinedand tailored approach, and there is a highdegree of commonality across accounts withsimilar objectives and profiles. During theprocess, the investment manager assigns atarget percentage weight based uponvariations, positive or negative, from thepredetermined fund benchmark weight.Investment managers may also incorporatetheir own views on individual security andexercise discretion to align with the above

guidelines with the objective that is likely tobe achieved by inclusion of the security in afund portfolio. The investment manager willalso reconcile any other anomalies between thesecurity rankings and portfolio requirements

with the overall objective of adding value tothe fund portfolio.












PLANS AND OPTIONSThe Scheme has two plans: Retail Plan and Institutional Plan.

Both plans under the scheme offers two options: a growth option and adividend option. The dividend option has a reinvestment option and a payoutoption.

Under the growth option, no dividend will be declared.

Under the dividend option, a dividend may be declared by the Trustee, at itsdiscretion, from time to time (subject to the availability of distributable surplusas calculated in accordance with the Regulations).

If the investor does not clearly specify the choice of option at the time ofinvesting, it will be treated as a growth option.

APPLICABLE NAVThe Cut-off time for the Scheme is 3.00 p.m. and the Applicable NAV will be asunder:

For Purchasea. where the application is received upto 3.00 pm with a local cheque or

demand draft payable at par at the place where it is received, with amountless than R 1 crore closing NAV of the day of receipt of application;

b. where the application is received after 3.00 pm with a local cheque ordemand draft payable at par at the place where it is received, with amountless than R 1 crore closing NAV of the next Business Day;

c. where the application is received with a local cheque or demand draftpayable at par at the place where it is received, with amount equal to ormore than R 1 crore irrespective of the time of receipt of application, theclosing NAV of the day on which the funds are available for utilisationshall be applicable.

Applicability of NAV for the Scheme with an amount equal to or more thanR 1 Crore:

a) For allotment of units in respect of purchase in the Scheme, the followingneeds to be complied with:


ii. Funds for the entire amount of subscription/purchase as per theapplication are credited to the bank account of the respective Schemebefore the cutoff time.


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iii. The funds are available for utilization before the cut-off time withoutavailing any credit facility whether intra-day or otherwise, by therespective Scheme.

b) For allotment of units in respect of switch-in to the Scheme from otherschemes, the following needs to be complied with:

i. Application for switch-in is received before the applicable cut-off time.ii. Funds for the entire amount of subscription/purchase as per the switch-

in request are credited to the bank account of the respective switch-inScheme before the cut-off time.

iii. The funds are available for utilization before the cut-off time withoutavailing any credit facility whether intra-day or otherwise, by therespective switch-in Scheme or Plans or options thereunder.

For Redemption

a. where the application is received up to 3.00 pm closing NAV of the dayof receipt of application; and

b. where an application is received after 3.00 pm closing NAV of the nextBusiness Day.


For SwitchesValid applications for 'switch-out' shall be treated as applications forRedemption and valid applications for 'switch-in' shall be treated asapplications for Purchase, and the provisions of the Cut-off time and theApplicable NAV mentioned in the Offer Document as applicable to Purchaseand Redemption shall be applied respectively to the 'switch-in' and 'switch-out' applications.


Minimum initial Retail Plan: R 5,000 per applicationapplication amount and in multiples of R 1 thereafter.

Institutional Plan: R 1,00,00,000 perapplication and in multiples of R 1 thereafter.

Minimum additional R 1,000 per application and in multiplesapplication amount of R 1 thereafter under both the Plans.

Minimum amount / no. R 5,000 or 500 Unitsof units for redemption



The bank name and bank account number, as specified in the Registrarsrecords, will be mentioned in the cheque. The cheque will be payable at par atall the cities having ISCs. If the Unit Holder resides in any other city, he will be

paid by a demand draft payable at the city of his residence and the demanddraft charges shall be borne by the AMC. The proceeds may be paid by way ofdirect credit / NEFT / RTGS / any other manner through which the investorsbank account specified in the Registrars records may be credited with theRedemption proceeds.



BENCHMARK INDEX FOR PERFORMANCE COMPARISONCRISIL Composite Bond Fund Index

DIVIDEND POLICYThe Trustee may decide to distribute by way of dividend, the surplus by way ofrealised profit, dividends and interest, net of losses, expenses and taxes, ifany, to Unit Holders in the dividend option of the Scheme if such surplus is

available and adequate for distribution in the opinion of the Trustee. TheTrustees decision with regard to availability and adequacy, rate, timing andfrequency of distribution shall be final. The dividend will be due to only thoseUnit Holders whose names appear in the register of Unit Holders in the dividendoption of the Scheme on the record date which will be announced in advancein accordance with MF Regulations. The Unit Holders have the option ofreceiving the dividend or reinvesting the same. The dividend will be reinvestedat the Applicable NAV of the immediately following Business Day.

The AMC shall dispatch to the Unit Holders, the dividend warrants within 30(thirty) days of the date of declaration of dividend. The dividend distributionprocedure shall be in accordance with the Regulations.

NAME OF THE FUND MANAGERSMr. Nandkumar Surti and Mr. Namdev Chougule


Retail Institutional CRISIL Composite(%) (%) Bond Fund Index (%)

Since inception 4.17% 6.89%

1 yea

JPMorgan India Tax Advantage Fund Application Form

Documents

Transcript of JPMorgan India Tax Advantage Fund Application Form