jp morgan india tax advantage fund application form

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 Fund

JPMorgan 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 the

Scheme/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 the Scheme Information Document (SID) and Statement of Additional Information (SAI) available free of cost at any of the Investor

Service Centres or distributors or from the website www.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 been filed with the Securities and Exchange Board of India (SEBI). The units being offered for public subscription have not been approved or disapproved by SEBI,

nor has SEBI certified the accuracy or adequacy of this KIM.

This memorandum is dated : April 25, 2011.

48

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

1

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 securities* 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 attractivenessIn 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 sustainable

earnings 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 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 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 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 checkedagainst 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-going

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

associated 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 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.

Risk and Description Risk Mitigants / Management Strategyspecific to Equities#

2

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 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 APPLICATION AMOUNT / NUMBER OF UNITSMinimum 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” 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 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 Registrar’srecords, 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 investor’sbank account specified in the Registrar’s 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 COMPARISONBSE-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. TheTrustee’s 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 GadgilFor 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 SCHEMEAs per the Regulations, the following fees and expenses can be charged to theScheme:

1. Initial issue expensesNo initial issue expenses were charged to the scheme.

2. Recurring expensesThese 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 Years2008-09 2010-112009-10

14.42% 8.15%

*9.15%*11.73%

3

Marketing & selling expenses includingagent’s 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 thoseestimated 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%Next R 300 crores 2.00%Balance assets 1.75%

Maximum investment management fee to be charged by the AMC:Daily average net assets Maximum, as a % of

daily average net assets

First R 100 crores 1.25%Balance assets 1.00%

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 AMFI’s 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 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



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.

Nature of expense % of net assets

4

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







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 Plansi. where the application is received upto 2.00 p.m. on a day and funds are

available 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 the

application 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 beforethe 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 the switch-in Scheme.

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 Redemption under both the Plans(a) where the application is received upto 3.00 p.m. - the closing NAV of the

day immediately preceding the next Business Day ; and(b) where the application is received after 3.00 p.m. - the closing NAV of the

next 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 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 this SID as applicable to Purchase andRedemption shall be applied respectively to the ‘switch-in’ and ‘switch-out’applications.

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 Registrar’srecords, 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 investor’sbank account specified in the Registrar’s 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, 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

5

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. TheTrustee’s 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.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 dates :*Super Institutional Plan : 21 September, 2007.#Retail Plan : 16 September, 2008.


1. Initial issue expensesNo initial issue expenses were charged to the Scheme.

2. Recurring expensesThese 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 2.25% 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).


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 0.150including 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.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 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









Super Institutional Plan:Total Recurring expenses as a percentage of Daily / Weekly 0.35%average net assetsRetail Plan:Total Recurring expenses as a percentage of Daily / Weekly 0.55%average net assets

LOAD STRUCTURE OF THE SCHEMEEntry Load: NIL

Exit Load: NILTo 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 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) 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.


Retail SuperPlan Institutional Plan

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

6

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.

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








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.






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 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 following

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 the

application 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.

7

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 Redemptiona. 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.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 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 APPLICATION AMOUNT / NUMBER OF UNITSRetail 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

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 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 Registrar’srecords, 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 investor’sbank account specified in the Registrar’s 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, 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, 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. TheTrustee’s 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.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 dates:*Super Institutional Plan : 21 September, 2007.#Retail Plan : 16 September, 2008.



2. Recurring expensesThese 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 2.25% 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 assetsRetail SuperPlan Institutional Plan

Investment management fee 0.350 0.350Trustee fees 0.005 0.005Custodian fees 0.005 0.005Registrar & transfer agent fees 0.040 0.030Marketing & selling expenses 0.340 0.200including agent’s commissionAudit fees and statutory advertisements 0.015 0.015Unit Holder servicing, investor 0.008 0.008communication expensesCosts of fund transfer 0.005 0.005Service tax 0.039 0.039Other operating expenses* 0.093 0.043Total 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 specificallyprohibited. The AMC reserves the right to change the above, both inter se orin total, subject to prevailing Regulations.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.

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

8

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:



Maximum investment management fee to be charged by the AMC:

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





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

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 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.


JPMORGAN INDIA SMALLER COMPANIES FUNDNAME 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.


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% Medium companies 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.








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.




profiles.

9

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:


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.


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 APPLICATION AMOUNT / NUMBER OF UNITSMinimum initial application amount R 5,000 per application and

multiples 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 Unitsredemption

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 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 Registrar’srecords, 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 investor’sbank account specified in the Registrar’s 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, 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 INDEX FOR PERFORMANCE COMPARISONCNX Midcap Index.## (refer to end of section)

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, 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 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 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.













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


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 GadgilFor 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.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: 26 December, 2007



2. Annual Scheme Recurring expensesThese 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).

Daily average net assets % of net assets

Investment management & advisory fees 1.250Custodian fees 0.100Registrar & transfer agent fees including 0.150cost related to providing account statement,dividend/redemption cheques/warrants etc.Marketing & selling expenses includingagent’s commission and statutory advertisement 0.505Brokerage and transaction cost pertaining tothe distribution of unitsAudit fees/fees and expenses of the Trustee 0.065Costs related to investor communications 0.040Costs of fund transfer from location to location 0.010Other Expenses* 0.380Total 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 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:


First R 100 crore 2.50%Next R 300 crore 2.25%Next R 300 crore 2.00%Balance assets 1.75%

Maximum Investment Management Fee to be charged by the AMC:Daily average net assets Maximum, as a % of






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.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".


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 9.00pm 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 Years2008-09 2009-10 2010-11

11.28% 4.35%

*-27.37% *-29.79%

11

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 FUNDNAME OF THE SCHEMEJPMorgan 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.

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





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


12



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

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

Business Day.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 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 APPLICATION AMOUNT / NUMBER OF UNITSMinimum 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


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. TheTrustee’s 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 year 7.20% – 5.06%


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 ormay not be sustained in future. All calculations assume that all payouts duringthe period have been re-invested in the units of the scheme.*Allotment date : 27 June, 2008.Note: As on 31 March, 2011, there are no investors in the Institutional Plan.


1. Initial issue expensesNo initial issue expenses were charged to the Scheme.

2. Annual Scheme Recurring expensesThese 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 2.25% 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).

Daily average net assets % of net assets

Investment management & advisory fees 1.25

Custodian fees 0.10

Registrar & transfer agent fees including 0.10cost related to providing account statement,dividend/redemption cheques/warrants etc.

Marketing & selling expenses includingagent’s commission and statutory advertisement 0.50Brokerage and transaction cost pertaining tothe distribution of units

Audit fees/fees and expenses of the Trustee 0.02


Costs of fund transfer 0.01


Total Annual Scheme Recurring Expenses 2.25

Retail Institutional CRISIL Composite Bond Fund Index10.00% –

8.00% –6.00% –4.00% –

2.00% –0.00% –

2008-09

1.59% 2.10%

5.41%

Financial Year2009-10 2010-11

*2.80%*3.39%

*8.54%7.20%

5.06%

13

*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.


Maximum Recurring Expenses:


First R 100 Crores 2.25%Next R 300 Crores 2.00%Next R 300 Crores 1.75%Balance assets 1.50%



First R 100 Crores 1.25%Balance assets 1.00%




Retail Plan:Total Recurring expenses as a percentage of Daily / Weekly 2.00%average net assets

Institutional Plan:Total Recurring expenses as a percentage of Daily / Weekly 1.50%average net assets

LOAD STRUCTURE OF THE SCHEME1. Entry Load : Nil

2. Exit Load :Retail Plan:For any amount, if redeemed within one month of allotment of Units: 0.25%

Institutional Plan:For any amount, if redeemed within one month of allotment of Units: 0.25%

For SIP (only for Retail Plan)

Exit Load :For any amount, if redeemed within one month of allotment of Units: 0.25%.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 meetthe distribution and marketing expenses. Any surplus amounts in this accountmay be credited to the Scheme whenever considered appropriate by the AMC.


JPMORGAN INDIA TAX ADVANTAGE FUNDNAME OF THE SCHEMEJPMorgan India Tax Advantage Fund

TYPE OF SCHEMEAn open-ended equity linked savings scheme.

INVESTMENT OBJECTIVEThe investment objective of the Scheme is to generate income and long-termcapital appreciation from a diversified portfolio of predominantly equity andequity-related Securities. However, there can be no assurance that theinvestment objective of the Scheme will be realized, as actual marketmovements may be at variance with anticipated trends.

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

(% of net assets) (% of net assets) profile

Equity and equity 95% 80% - 100% Medium-related Securities* to High

Debt and money 5% 0% - 20% Low tomarket instruments Medium

In accordance with the ELSS, investments by the Scheme in equity and equityrelated Securities will not fall below 80% of the net assets of the Scheme. Asper the ELSS, the Scheme after 3 (three) years from the date of allotment ofUnits can hold investments in short term money market instruments or otherliquid instruments or both only up to 20% of its net assets.Under normal market conditions, the corpus of the assets of the Scheme shallbe predominantly invested in equity Securities as per the asset allocation patternabove. However, due to market conditions, the AMC may invest beyond therange set out above. Such deviations shall normally be for a short term purposeonly, for defensive considerations and with the intention of protecting theinterests of the Unit Holders. In the event of deviations, rebalancing will normallybe carried out within 10 (ten) Business Days.* Equity related Securities shall mean equities, cumulative convertible

preference shares and fully convertible debentures and bonds ofcompanies. Investment may also be made in partly convertible issues ofdebentures and bonds including those issued on rights basis subject tothe condition that, as far as possible, the non-convertible portion of thedebentures so acquired or subscribed, shall be disinvested within a periodof 12 (twelve) months. In accordance with the ELSS, investments by theScheme in equity and equity related Securities will not fall below 80% ofthe net assets of the Scheme. As per the ELSS, the Scheme after 3 (three)years from the date of allotment of Units can hold investments in shortterm money market instruments or other liquid instruments or both onlyup to 20% of its net assets.

The Scheme does not intend to make any investments in derivatives, ADR/GDRs/foreign Securities and mutual fund units. However, the Scheme may makeinvestments in derivatives, ADR/GDRs/foreign Securities as and when permittedby the ELSS and till a clarification is received from SEBI. The scheme shall notinvest in foreign securitized debt.



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

14

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 sustainable









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 upon variations,positive or negative, from the predeterminedfund benchmark weight. Investment managersmay also incorporate their own views onindividual stocks and exercise discretion to alignwith the above guidelines with the objectivethat is likely to be achieved by inclusion of thestock in a fund portfolio. The investmentmanager will also reconcile any other anomaliesbetween the stock rankings and portfoliorequirements with the overall objective ofadding value to the fund portfolio.




investment in trading technology.

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








PLANS AND OPTIONSThe Scheme offers two options: growth option and dividend option. Thedividend option offers dividend payout and dividend reinvestment. If theinvestor does not clearly specify the choice of option at the time of investing,it will be treated as a growth option. If the investor does not clearly specifythe choice of dividend payout or reinvestment options within the dividendoption, he will be treated as having elected the reinvestment option.

APPLICABLE NAVThe Cut-off time for the Scheme is 3.00 p.m., and the Applicable NAV will beas under: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 p.m. 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 p.m. on a Business Day, the NAV of the nextBusiness Day will be applicable.

(c) Redemption of Units can be made only after a lock-in period of threeyears has expired from the date of allotment of Units proposed to beredeemed.

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. Redemptions will not be allowed for3 years from the date of allotment except in the case of transmission of units.

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 as applicable to Purchase and Redemption shall be appliedrespectively to the 'switch-in' and 'switch-out' applications.Switch-out of Units from the Scheme can be made only after a lock-in periodof three years has expired from the date of allotment of Units proposed to beswitched out. SWP/STP will not be allowed for 3 years from the date ofallotment. Switch-ins will be allowed into the scheme but investors shouldnote that the amount switching in will be locked in for a period of 3 years.



15

As per the ELSS, in the event of the death of the Assessee, the nominee orlegal heir, as the case may be, shall be able to withdraw the investment inUnits only after the completion of one year from thedate of allotment of theUnits to the Assessee or any time thereafter. Accordingly, transmission ofUnits (allotted to Assessees) as mentioned above will be carried out only afterthe completion of one year from the date of their allotment.

MINIMUM APPLICATION AMOUNT / NUMBER OF UNITSMinimum initial R 500 per application and in multiplesapplication amount of R 500 thereafter.

Minimum additional R 500 per application and in multiplesapplication amount of R 500 thereafter.

Minimum redemption R 500 or 50 units.amount / no. of Units


BENCHMARK INDEX FOR PERFORMANCE COMPARISONBSE-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. TheTrustee’s 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 MANAGERSFor Equity : Mr. Harshad Patwardhan & Mr. Amit GadgilFor Debt : Mr. Nandkumar Surti & Mr. Namdev Chougule


Scheme returns (%) BSE 200 (%)

Since inception 33.48% 44.90%

1 year 14.00% 8.15%


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: 27 January, 2009

EXPENSES OF THE SCHEMEAs per the Regulations, the following fees and expenses can be chargedto the Scheme:


2. Annual Scheme Recurring expensesThe Ongoing fees and expenses of operating the Scheme on an annual basis,and which shall be charged to the Scheme, are estimated to be (each as apercentage per annum of the daily average net assets):

Particulars % of Net Assets

Investment management & advisory Fee 1.25

Custodial fees 0.10

Registrar & Transfer Agent fees including 0.15cost related to providing accounts statement,dividend / redemption cheques/warrants etc.

Marketing and selling expenses including 0.60agent's commission and statutory advertisement

Brokerage and transaction cost pertaining to 0.02the distribution of units Audit fees / fees andexpenses of trustees




Total Recurring Expenses 2.50

* Other expenses: Any other expenses which are directly attributable to theScheme, may be charged with approval of the Trustee within the overalllimits as specified in the Regulation 52 (6) except those expenses whichare specifically prohibited.


Maximum Recurring expenses:Daily average net assets Maximum, as a % of







100.00% –80.00% –60.00% –40.00% –20.00% –0.00% –

BSE 200

2009-10

Scheme returns

64.13%

92.87%

Financial Years2010-11

14.00% 8.15%

2008-09

*0.17%*7.42%

16




LOAD STRUCTURE OF THE SCHEME1. Entry Load: NIL2. Exit Load: NILTo know the latest position on Loads structure prior to investing / Redemption,investors are advised to contact any of the ISCs or the AMC at its toll-freenumber "1-800-22-5763".


DAILY NET ASSET VALUE (NAV) PUBLICATIONThe Mutual Fund shall declare the NAV of the Scheme on every Business Dayon AMFI’s 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 JF GREATER CHINA EQUITYOFF-SHORE FUNDNAME OF THE SCHEMEJPMorgan JF Greater China Equity Off-shore Fund

TYPE OF SCHEMEAn open-ended fund of funds scheme.

INVESTMENT OBJECTIVEThe primary investment objective of the Scheme is to provide long term capitalappreciation by investing in JPMorgan Funds - JF Greater China Equity Fund,an equity fund which invests primarily in a diversified portfolio of companiesincorporated or which have their registered office located in, or derive thepredominant part of their economic activity from, a country in the GreaterChina region.

ASSET ALLOCATION PATTERNUnder normal circumstances, it is anticipated that the asset allocation shallbe as follows:Types of Instruments Normal Allocation Risk

(% of Net Assets) profile

Units / shares of JPMorgan Funds - 80% - 100% MediumJF Greater China Equity Fund to High

Money market instruments and/or 0% - 20 % Lowunits of liquid schemes to Medium

Note :

(a) Since the Scheme is a Fund of Funds scheme, it cannot invest in any otherFund of Funds scheme;

(b) Since the Scheme is a Fund of Funds scheme, it cannot invest its assetsother than in schemes of mutual funds, except to the extent of fundsrequired for meeting the liquidity requirements for the purpose ofrepurchases or Redemptions.

Under normal market conditions, the corpus of the Scheme shall be invested inunits / shares of JPMorgan Funds - JF Greater China Equity Fund as per theasset allocation detailed above. However, prevailing market conditions cancompel the AMC to invest beyond the range set out above. Such deviations shallhowever normally be for short term purposes only, for temporary defensiveconsiderations and with the intention of protecting the interests of the UnitHolders. In the event of deviations, rebalancing will normally be carried outwithin 10 (ten) Business Days.

The exposure of JPMorgan Funds - JF Greater China Equity Fund in India willnot be gained through participatory notes.

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











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 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 fund

17

portfolio.A dedicated team oversees investment managersto ensure compliance with the fund's internalrequirements. The buy / sell decisions generatedat the portfolio construction stage of the processare automatically checked against fund guidelines,and electronically forwarded to the trading teamfor execution.











PLANS AND OPTIONSThe Scheme offers a growth option only.

APPLICABLE NAVThe Cut-off time for the Scheme is 3.00 p.m., and the Applicable NAV will beas under:





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 the

Risk and Description Risk Mitigants / Management Strategyspecific to Equities

Applicable NAV mentioned in the SID as applicable to Purchase and Redemptionshall be applied respectively to the ‘switch-in’ and ‘switch-out’ applications.In case the switch request is received on a business day of the switch outscheme and if the same day is a non business day for switch in scheme, switchout will be processed on the same day. However, the switch in will be processedon the immediate next business day.

MINIMUM APPLICATION AMOUNT / NUMBER OF UNITSMinimum initial R 10,000 per application and in multiplesapplication amount of R 1 thereafter.

Minimum additional R 1,000 per application and in multiplesapplication amount of R 1 thereafter.

Minimum redemption R 1,000 or 100 units.amount / no. of 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 theRedemption proceeds normally within 7 (seven) Business Days from theacceptance of the Redemption request. However Regulatory timeline is 10Business Days. If the payment is not made within the period stipulated in theRegulations, the Unit Holder shall be paid interest @15% p.a. for the delayedperiod and the interest shall be borne by the AMC.The bank name and bank account number, as specified in the Registrar'srecords, 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 investor'sbank account specified in the Registrar's 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.

BENCHMARK INDEX FOR PERFORMANCE COMPARISONMSCI Golden Dragon Index (Total Return Net)

DIVIDEND POLICYThere is no dividend option in the Scheme.

NAME OF THE FUND MANAGERMr. Namdev Chougule.JF Asset Management Limited is the investment manager of the JPMorganFunds - JF Greater China Equity Fund, the underlying fund in respect of whoseunits / shares the Scheme invests in as per the asset allocation pattern above.JF Asset Management Limited makes the day to day decisions on behalf of theunderlying fund.


Scheme returns (%) MSCI Golden Dragon Index (%)


1 year 15.14% 11.13%


Note: Absolute returns of the growth option are computed for a period of lessthan one year. "Since inception" returns are calculated on R 10 invested atinception.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: 26 August, 2009

15.00% –12.00% –9.00% –6.00% –3.00% –0.00% –

MSCI Golden Dragon Index Scheme returns15.14%

11.13%

Financial Years2009-10 2010-11

*3.62% *3.62%

18



2. Annual Scheme Recurring expensesThese estimated expenses include investment management and advisory feecharged by the AMC, the fees of the Registrar and Transfer Agents, marketingand selling costs etc. as given in the table below:


Investment Management & Advisory Fee 0.750

Custodial Fees 0.010

Registrar & Transfer Agent Fees including 0.035cost related to providing accounts statement,dividend / redemption cheques / warrants etc.

Marketing & Selling Expenses including AgentsCommission and statutory advertisement

0.600Brokerage & Transaction Cost pertaining to thedistribution of UnitsAudit Fees / Fees and expenses of Trustees 0.055





The AMC has estimated that up to 1.50% of the daily average net assets of theScheme will be charged to the Scheme as expenses. The local fee may bechanged based upon any changes to SEBI guidelines while remaining withinthe maximum overall fees as per SEBI guidelines. For the actual currentexpenses being charged, the investor should refer to the website of the MutualFund (www.jpmorganmf.com).Management fees shall not exceed 0.75% of the daily average net assets ofthe scheme.*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 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 overall fees and expenses (management and other) that are charged inthe underlying fund are currently 1.00%.The underlying fund is managed by an associated company of the JPMorganGroup.The purpose of the above table is to assist in understanding the various costsand expenses that the Unit Holder in the Scheme will bear directly or indirectly.The AMC reserves the right to change the estimates, both inter se or in total,subject to prevailing Regulations. In case the fees expenses of the underlyingfund are more than as specified above, the fees and expenses of the AMCshall be reduced, subject to the maximum that can be charged under theRegulations. In case the fees and expenses of the underlying fund are lessthan as specified above, the fees and expenses of the AMC may be increased,subject to the maximum that can be charged under the Regulations. The AMCmay incur actual expenses which may be more or less than those estimatedabove under any head and / or in total. The AMC will charge the Scheme suchactual expenses incurred, subject to the statutory limit prescribed in theRegulations, as given below. Any excess over these limits will be borne by theAMC.Total fees charged:

Since the Scheme is a fund of funds scheme, the investors of the Scheme willhave to bear dual recurring expenses, those of the Scheme and those of theUnderlying fund.Regulation 52(6)(a)ii states that the total expenses of the Scheme excludingissue or Redemption expenses, whether initially borne by the Mutual Fund orby the AMC, but including the investment management and advisory fee shallbe subject to the following limits:(A) management fees for the scheme not exceeding 0.75% of the daily

average net assets of the scheme;(B) other expenses relating to administration of the scheme; and(C) charges levied by the underlying schemes.Provided that the sum total of (A), (B) and the weighted average of the totalexpense ratio of the underlying scheme shall not exceed 2.50% of the dailyaverage net assets of the scheme.

Maximum Recurring expenses:

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









LOAD STRUCTURE OF THE SCHEME1. Entry Load : NIL

2. Exit Load :For each 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

A switch-out or a withdrawal under SWP shall also attract an Exit Load like anyRedemption.To know the latest position on Loads structure prior to investing / Redemption,investors are advised to contact any of the ISCs or the AMC at its toll-freenumber "1-800-22-5763".


DAILY NET ASSET VALUE (NAV) PUBLICATIONThe NAVs will be calculated and disclosed on every Business Day. The NAV ofthe Scheme shall be made available at all ISCs of the AMC. The AMC will publishthe NAV for each Business Day in two daily newspapers. The AMC shall updatethe NAVs on the website of the Mutual Fund (www.jpmorganmf.com) and ofthe Association of Mutual Funds in India (www.amfiindia.com) by 10.00 am onthe next Business Day for each Business Day. In case of any delay, the reasonsfor such delay 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 NAVs.

JPMORGAN INDIA SHORT TERM INCOME FUNDNAME OF THE SCHEMEJPMorgan India Short Term Income Fund

TYPE OF SCHEMEAn Open ended Income Scheme

INVESTMENT OBJECTIVEThe investment objective is to generate income by investing primarily in moneymarket and short term debt instruments.However, there can be no assurance that income can be generated, regular orotherwise or that the investment objective of the Scheme will be realised.


19

Instruments Normal Allocation Risk(% of Net Assets) profile

Money market and *Debt instruments 65 - 100% Lowincluding government securities withmaturity / average maturity / residualmaturity / interest rate reset notgreater than 1 year.

*Debt instruments with maturity / 0 - 35% Low toaverage maturity / residual maturity / Mediuminterest rate reset greater than 1 year.

* Debt Instruments include securitised debt. Securitised debt can be up to 50%of the net assets. Investment in Derivatives - Gross exposure up to 50% of thenet asset of the Scheme.

Floating rate debt instruments are debt instruments issued by Central / StateGovernments, corporates, PSUs, etc. with interest rates that are reset periodically.The periodicity of interest reset could be daily, monthly, quarterly, half yearly,and annually or any other periodicity that may be mutually agreed between theissuer and the Fund. The Scheme shall not invest in foreign securitised debt.Money market instruments include commercial papers, commercial bills, treasurybills, Collateralised Borrowing and Lending Obligations (CBLO), GovernmentSecurities having an unexpired maturity up to one year, call or notice money,certificates of deposit, usance bills and any other like instruments as specifiedby the RBI from time to time.The Scheme can invest up to 50% of net assets in foreign securities. The Schemeshall not engage in stock lending. The scheme will not take any leverage positionin derivatives. The total investment in debt securities and gross exposure inderivatives, if any, shall not exceed the net assets of the scheme. However, theScheme can borrow in accordance with SEBI Guidelines.The Scheme retains the flexibility to invest across all securities in the debt andmoney market instruments. The Scheme may also invest in units of debt andliquid Mutual Fund schemes.The endeavour of the scheme will be to maintain the modified duration in arange of 1-3 years depending upon interest rate view. However, this can undergoa change in case the market condition warrant and according to fund manager'sview.The Scheme proposes to hold a portfolio which would have a residual maturityof around 1-3 years.








responsibility for minimizing the performance draglies with the Dealing team whose focus is to minimizemarket impact and transaction costs. The competitiveadvantages in achieving this objective are:

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








OPTIONSThe Scheme offer two options - growth option and dividend option. Thedividend option offers weekly, fortnightly, and monthly dividend reinvestmentoptions and monthly dividend payout.

APPLICABLE NAVFor Purchasea. Where the application is received upto 3.00 pm on a Business Day with a

local cheque or demand draft payable at par at the place where it isreceived, with amount less than R 1 crore. - Closing NAV of the day ofreceipt of application;

b. Where the application is received after 3.00 pm on a Business Day with alocal cheque or demand draft payable at par at the place where it isreceived, with amount less than R 1 crore. - Closing NAV of the next BusinessDay;

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




in request are credited to the bank account of the respective switch-inScheme before 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 switch-in Scheme or Plans thereunder.

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.Note: For the avoidance of doubt, where applications are received for anamount of less than R 1 crore on a Non-Business Day the closing NAV of thenext Business Day shall be applicable.

For Redemptiona. Where the application is received up to 3.00 pm on a Business Day - Closing

NAV of the day of receipt of application; and

20

b. Where the application is received after 3.00 pm on a Business Day - ClosingNAV of the next Business Day.

Note: In case of applications received on a Non-Business Day the closing NAVof the next Business Day shall be applicable.

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 SID as applicable to Purchase and Redemptionshall be applied respectively to the ‘Switch-in’ and ‘Switch-out’ applications.

MINIMUM APPLICATION AMOUNT / NUMBER OF UNITSInitial Purchase R 5,000/- per application and

in multiples of R 1/- thereafter.

Additional Purchase R 1,000/- per application andin multiples of R 1/- thereafter.

Redemption amount/ R 5,000/- or 500 Units.no. of Units


BENCHMARK INDEX FOR PERFORMANCE COMPARISONCRISIL Short – Term 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 isavailable and adequate for distribution in the opinion of the Trustee. TheTrustee’s 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 30days of the date of declaration of dividend. The dividend distribution procedureshall be in accordance with the Regulations.

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


Scheme returns (%) CRISIL Short -TermBond Fund Index %


1 year 6.64% 5.12%

Absolute returns for each financial year for the last 1 year

Note: Absolute returns of the growth option are computed for a period of lessthan one year. "Since inception" returns are calculated on R 10 invested atinception.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: 25 March, 2010.

EXPENSES OF THE SCHEMEAs per the Regulations, the following fees and expenses can be charged to theScheme:1. Initial issue expensesNo initial issue expenses were charged to the Scheme.2. Recurring expensesThese 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 2.25% 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).


Investment Management & Advisory Fee 1.25

Custodial Fees 0.10

Registrar & Transfer Agent Fees including cost 0.03related to providing accounts statement,dividend/Redemption cheques/warrants etc.

Marketing & Selling Expenses including AgentsCommission and statutory advertisement

0.60Brokerage & Transaction Cost pertaining to thedistribution of Units

Audit Fees / Fees and expenses of Trustees 0.02



*Other Expenses 0.14


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

The AMC reserves the right to change the estimates, both inter se or in total,subject to prevailing Regulations.The AMC will charge the Scheme such actual expenses incurred, subject tothe statutory limit prescribed in the Regulations, as given below.


daily average net assetsFirst R 100 crores 2.25%Next R 300 crores 2.00%Next R 300 crores 1.75%Balance assets 1.50%


daily average net assetsFirst R 100 crores 1.25%Balance assets 1.00%


8.00% –6.00% –4.00% –2.00% –0.00% –

CRISIL Short -Term Bond Fund Index Scheme returns

6.64%5.12%


21



Total Recurring expenses as a percentage of Daily / 0.90%Weekly average net asset

LOAD STRUCTURE OF THE SCHEMEFor NFO and Ongoing Offer basis

1. Entry Load : NIL

2. Exit Load :

For each Redemption (% of Applicable NAV)

Within 15 days from the date of allotment inrespect of Purchase made other than through SIP 0.15%

Within 15 days from the date of allotment inrespect of each Purchase made through SIP 0.15%

All Loads are intended to enable the AMC to recover expenses incurred forpromotion or distribution and sale 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.The investor is requested to check the prevailing load structure of the Schemebefore investing.

For the most up to date information on Entry / Exit Loads investors areadvised to contact their ISC or the AMC at its toll-free number (1800-22-5763) prior to any application / redemption.

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 9.00p.m. 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.

JPMORGAN EMERGING EUROPE, MIDDLE EASTAND AFRICA EQUITY OFF-SHORE FUNDNAME OF THE SCHEMEJPMorgan Emerging Europe, Middle East and Africa Equity Off-Shore Fund

TYPE OF SCHEMEAn open-ended fund of funds scheme.

INVESTMENT OBJECTIVEThe primary investment objective of the Scheme is to provide long term capitalappreciation by investing in JPMorgan Funds - Emerging Europe, Middle Eastand Africa Equity Fund, an equity fund which invests primarily in a diversifiedportfolio of companies incorporated or which have their registered officelocated in, or derive the predominant part of their economic activity from, anemerging market in central, eastern and southern Europe, Middle East or Africa.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:Types of Instruments Normal Allocation Risk

(% of Net Assets) profile

Units / shares of JPMorgan Funds 80% - 100% Medium- Emerging Europe, Middle East to Highand Africa Equity FundMoney market instruments and/or 0% - 20% Low tounits of liquid schemes Medium

Note :

JPMorgan Emerging Europe, Middle East and Africa Equity Off-shore Fund shallnot invest in Derivatives, Stock Lending and Securitised Debt.

The Scheme shall make investments in foreign securities as per clause 2(x) ofSEBI Circular no. SEBI/IMD/CIR No. 7/104753/07 dated September 26, 2007.Under normal market conditions, the corpus of the Scheme shall be invested inUnits / shares of JPMorgan Funds - Emerging Europe, Middle East & Africa EquityFund as per the asset allocation detailed above. However, prevailing marketconditions can compel the AMC to invest beyond the range set out above. Suchdeviations shall however normally be for short term purposes, for temporarydefensive considerations and with the intention of protecting the interests ofthe Unit Holders. In the event of deviations, rebalancing will normally be carriedout within 10 (ten) Business Days.Any exposure that JPMorgan Funds - Emerging Europe, Middle East & AfricaEquity Fund has in India will not be gained through participatory notes.

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


rigorous research conducted by dedicated countryspecialists. The approach to stock selection islargely country specific, which means that theseinvestment professionals have the responsibility todesign and refine their stock selection process tocope with the dynamic local factors and marketconditions.

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;








profiles.

22





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 SID as applicable to Purchase and Redemptionshall be applied respectively to the ‘switch-in’ and ‘switch-out’ applications.In case the switch request is received on a business day of the switch outscheme and if the same day is a non business day for switch in scheme, switchout will be processed on the same day. However, the switch in will be processedon the immediate next business day.

MINIMUM APPLICATION AMOUNT / NUMBER OF UNITSMinimum initial R 5,000 per application and in multiples ofapplication amount R 1 thereafter.

Minimum additional R 1,000 per application and in multiples ofapplication amount R 1 thereafter.

Minimum redemption R 1,000 or 100 units.amount / no. of 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 theRedemption proceeds normally within 7 (seven) Business Days from theacceptance of the Redemption request. However Regulatory timeline is 10Business Days. If the payment is not made within the period stipulated in theRegulations, the Unit Holder shall be paid interest @15% p.a. for the delayedperiod and the interest shall be borne by the AMC.The bank name and bank account number, as specified in the Registrar'srecords, 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 investor'sbank account specified in the Registrar's 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.

BENCHMARK INDEX FOR PERFORMANCE COMPARISONMSCI EMEA (Total Return Net)

DIVIDEND POLICYThere is no dividend option in the Scheme.

NAME OF THE FUND MANAGERMr. Namdev Chougule.JPMorgan Asset Management (UK) Limited is the investment manager of theJPMorgan Funds -Emerging Europe, Middle East and Africa Fund, the underlyingFund in respect of whose Units / Shares the Scheme invests in as per theasset allocation pattern above. JPMorgan Asset Management (UK) Limitedmakes the day to day decisions on behalf of the underlying Fund.The underlying scheme can be managed by any entity within the JPMorgangroup.


Scheme MSCI EMEAReturns (%) Total Return Net (%)


Portfolios are constructed using a disciplined andtailored approach, and there is a high degree ofcommonality across accounts with similarobjectives and profiles. During the process, theinvestment manager assigns a target percentageweight based upon variations, positive or negative,from the predetermined fund benchmark weight.These variations are known as active moneypositions and can be easily accessed on the internalfront office system which contains information onboth the fund and its respective benchmark index.Investment managers may also incorporate theirown views on individual stocks and exercisediscretion to align with the above guidelines withthe objective that is likely to be achieved byinclusion of the stock in a fund portfolio. Theinvestment manager will also reconcile any otheranomalies between the stock rankings andportfolio requirements with the overall objectiveof adding value to the fund portfolio.A dedicated team oversees investment managersto ensure compliance with the fund's internalrequirements. The buy / sell decisions generatedat the portfolio construction stage of the processare automatically checked against fund guidelines,and electronically forwarded to the trading teamfor execution.


responsibility for minimizing the performance draglies with the Central Dealing team whose focus isto minimize market impact and transaction costs.The competitive advantages in achieving thisobjective are:(i) A specialist experienced team.(ii) State of the art systems and on-going









PLANS AND OPTIONSThe Scheme offers a growth option only.

APPLICABLE NAVThe Cut-off time for the Scheme is 3.00 p.m., and the Applicable NAV will beas under:

Risk and Description Risk Mitigants / Management Strategyspecific to Equities

23

Absolute returns for each financial year for the last 1 year

Note: Absolute returns of the growth option are computed for a period of lessthan one year. "Since inception" returns are calculated on R 10 invested atinception.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: 8 November, 2010



2. Annual Scheme Recurring expensesThese estimated expenses include investment management and advisory feecharged by the AMC, the fees of the Registrar and Transfer Agents, marketingand selling costs etc. as given in the table below:


Investment Management & Advisory Fee 0.75Custodial Fees 0.010Registrar & Transfer Agent Fees including cost related 0.035to providing accounts statement, dividend /redemption cheques / warrants etc.Marketing & Selling Expenses including AgentsCommission and statutory advertisement 0.50Brokerage & Transaction Cost pertaining todistribution of unitsAudit Fees / Fees and expenses of the Trustee 0.055Costs related to investor communications 0.010Costs of fund transfer from location to location 0.010* Other Expenses 0.030Total Recurring Expenses 1.40

*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 Regulation 52 (6) of the SEBI Regulations except those expenseswhich are specifically prohibited.The AMC has estimated that up to 1.40% of the daily average net assets of theScheme will be charged to the Scheme as annual Scheme recurring expenses.The local fee may be changed based upon any changes to SEBI Guidelineswhile remaining within the maximum overall fees as per SEBI guidelines. Forthe actual current expenses being charged, the investor should refer to thewebsite of the Mutual Fund (www.jpmorganmf.com).The maximum total fees (management and other) that are charged in theUnderlying fund are currently 1.10%.The overall maximum fees in the Underlying fund and the Scheme are subjectto SEBI's limits.The underlying fund is managed by an associated Company of the Sponsor.The purpose of the above table is to assist in understanding the various costsand expenses that the Unit Holder in the Scheme will bear directly or indirectly.The above estimates for recurring expenses for the Scheme are based on thecorpus size of INR 1000 million, and may change to the extent assets arelower or higher.The AMC reserves the right to change the estimates, both inter se or in total,subject to prevailing SEBI Regulations.The AMC may incur actual expenses which may be more or less than thoseestimated above under any head and / or in total. In case the fees and expensesof the Underlying fund are more than as specified above, the fees and expensesof the AMC shall be reduced, subject to the maximum that can be chargedunder the SEBI Regulations. In case the fees and expenses of the Underlyingfund are less than as specified above, the fees and expenses of the AMC maybe increased, subject to the maximum that can be charged under the SEBI

Regulations. The AMC will charge the Scheme such actual expenses incurred,subject to the statutory limit prescribed in the SEBI Regulations, as givenbelow. Any excess over these limits will be borne by the AMC.Total fees charged:Since the Scheme is a Fund of Funds scheme, the investors of the Scheme willhave to bear dual recurring expenses, those of the Scheme and those of theUnderlying fund. However, the management fees and other expenses chargedby the Underlying fund together with the management fee and recurringexpenses charged to the Scheme shall not exceed the total limits on expensesas prescribed under Regulation 52(6) of the SEBI Regulations as applicable toa Fund of Funds scheme.Regulation 52(6)(a)ii of the SEBI Regulations states that the total expenses ofthe Scheme excluding issue or Redemption expenses, whether initially borneby the Mutual Fund or by the AMC, but including the investment managementand advisory fee shall be subject to the following limits :-(A) management fees for the scheme not exceeding 0.75% of the daily average

net assets of the scheme;(B) other expenses relating to administration of the Scheme; and(C) charges levied by the underlying schemes:Provided that the sum total of (A), (B) and the weighted average of the totalexpense ratio of the underlying schemes shall not exceed 2.50% of the dailyaverage net assets of the scheme.Investors are informed that they will be bearing the recurring expenses of theScheme in addition to the expenses of other underlying schemes in which theScheme is invested. Any excess over these limits will be borne by the AMC.


weekly average net assetsFirst R 100 crores 2.50%Next R 300 crores 2.25%Next R 300 crores 2.00%Balance assets 1.75%







Total Recurring expenses as a percentage 1.39%of Daily / Weekly average net assets

LOAD STRUCTURE OF THE SCHEME1. Entry Load : NIL2. Exit Load :For each 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

A switch-out or a withdrawal under SWP shall also attract an Exit Load like anyRedemption.To know the latest position on Loads structure prior to investing / Redemption,investors are advised to contact any of the ISCs or the AMC at its toll-freenumber "1-800-22-5763".The investor is requested to check the prevailing load structure of the Schemebefore investing.

DAILY NET ASSET VALUE (NAV) PUBLICATIONThe NAVs will be calculated and disclosed on every Business Day. The NAV ofthe Scheme shall be made available at all ISCs of the AMC. The AMC will publishthe NAV for each Business Day in two daily newspapers. The AMC shall updatethe NAVs on the website of the Mutual Fund (www.jpmorganmf.com) and ofthe Association of Mutual Funds in India (www.amfiindia.com) by 10.00 am onthe next Business Day for each Business Day. In case of any delay, the reasonsfor such delay 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 NAVs.

10.00% –8.00% –6.00% –4.00% –2.00% –0.00% –

MSCI EMEA Scheme Returns

*0.46%

*8.33%


24

COMPARISON BETWEEN THE SCHEMES

Nameof theexistingscheme

AssetAllocationPattern*

InvestmentObjective

InvestmentStrategy

Differentiation AUM (in crs.)

as on31-3-2011

No. ofFoliosas on

31-3-2011

JPMorganIndiaEquityFund

Equity and equityrelated securities65-100%; Debt andMoney marketinstruments 0-35%.

The investmentobjective of theScheme is togenerate income andlong-term capitalgrowth from adiversified portfolioof predominantlyequity and equityrelated securitiesincluding equityderivatives.

However, there canbe no assurance thatthe investmentobjective of theScheme will berealised.

The Scheme will primarily be a diversified equity fundwhich will seek to invest in companies for long terminvestment. Though the benchmark is BSE-200, theinvestments will not be limited to the companiesconstituting the benchmark. The types of companies thatmay fall within the scope of such investment could includebut are not limited to: - companies with strong growthpotential; - companies with a special product which hasa particular market niche and therefore good earningspotential; - companies undertaking corporaterestructuring. The investment approach will be bottom-up stock picking – where investments will be selectedprimarily on the basis of specific criteria relevant to thecompany in question rather than general macroeconomicconsiderations. There will be no particular bias towardsany market cap size or any sector. The Scheme willendeavour to remain fully invested in equity and equityrelated instruments at all times. An exposure to variousderivatives instruments is likely - for the purposes ofhedging, portfolio balancing and optimising returns.

An open-endedequity growthscheme having adiversified portfolioof equity and equity-related securitiesincluding equityderivatives.

400.04 58532

JPMorganIndiaSmallerCompaniesFund

Equity and equityrelated securities ofSmaller Companies65-100% ; Equity andequity relatedsecurities ofcompanies other thanSmaller Companies0-35% ; Debt andmoney marketinstruments 0-35%.

The investment objectiveis to seeks to generatelong-term capitalappreciation from aportfolio that issubstantially consitutedof equity and equity-related securitiesfocused on smallercompanies. Generally theuniverse will be thecompanies constitutingthe bottom fourth by wayof market capitalizationof stocks listed on theNational Stock Exchangeor The Bombay StockExchange. The fundmanager may from timeto time include otherequity and equity relatedsecurities outside theuniverse to achieveoptimal portfolioconstruction.However, there can be noassurance that theinvestment objective ofthe Scheme will berealised.

The Scheme will primarily be a diversified equityfund which will seek to invest in companies for longterm investment. Though the benchmark is CNX-MIDCAP, the investments will not be limited to thecompanies constituting the benchmark. The typesof companies that may fall within the scope of suchinvestment could include but are not limited to: –companies with strong growth potential; –companies with a special product which has aparticular market niche and therefore goodearnings potential; – companies undertakingcorporate restructuring. The investment approachwill be bottom-up stock picking – where investmentswill be selected primarily on the basis of specificcriteria relevant to the company in question ratherthan general macroeconomic considerations. Therewill be no particular bias towards any sector. Thefocus will be on companies constituting the bottomfourth by way of market capitalization of stockslisted on the National Stock Exchange or The StockExchange-Mumbai. The strategy will be to identifycompanies early or which have potential to scaleup significantly to become materially larger in themedium to long term. The Scheme will endeavourto remain fully invested in equity and equity relatedinstruments at all times. An exposure to variousderivatives instruments is likely for the purposes ofhedging, portfolio balancing and optimising returns.Criteria of selecting companies constituting thebottom fourth by way of market capitalization.

An open-endedequity growthscheme, constitutinga portfolio of equityand equity relatedsecurities focused onsmaller companies.

183.38 39218

JPMorganIndia TaxAdvantageFund

Equity and equityrelated Securities80-100%; Debt andMoney Marketinstruments 0-20%.

The investmentobjective of theScheme is togenerate income andlong-term capitalappreciation from adiversified portfolioof predominantlyequity and equity-related securities.

However, there canbe no assurance thatthe investmentobjective of theScheme will berealised as actualmarket movementsmay be at variancewith anticipatedtrends.

The Scheme will primarily be a diversified equityfund which will seek to invest in companies for longterm investment. Though the benchmark is BSE-200, the investments will not be limited to thecompanies constituting the benchmark. The typesof companies that may fall within the scope of suchinvestment could include but are not limited to: ncompanies with strong growth potential; ncompanies with a special product which has aparticular market niche and therefore goodearnings potential; and/or n companies undertakingcorporate restructuring. The investment approachwill be bottom-up stock picking where investmentswill be selected primarily on the basis of specificcriteria relevant to the company in question ratherthan general macroeconomic considerations. Therewill be no particular bias towards any marketcapitalisation size or any sector. The Scheme willendeavour to remain fully invested in equity andequity-related instruments at all times.

An open-endedequity linked savingscheme with adiversified portfolioof predominantlyequity and equityrelated securities.This is an equitylinked saving schemewith a three yearlock-in period fromthe date of allotmentof units proposed tobe redeemed.

3.62 1805

25

JPMorganIndiaTreasuryFund

Money market & debtinstruments withmaturity / averagematurity / interestrate reset not greaterthan 1 year 70-100%;Debt instrumentswith maturity greaterthan 1 year but lessthan 3 years up0-30%.

The investment objectiveof the Scheme is to provideLiquidity and optimalreturns by investingprimarily in a mix of short-term debt and moneymarket instruments whichresults in a portfolio havingmarginally higher maturityand moderately highercredit risk as compared toa liquid fund at the sametime maintaining balancesafety and liquidity.However, there can be noassurance that theinvestment objective of theScheme will be realised.

The domestic debt markets are maturing rapidlywith liquidity emerging in various debt segmentsthrough the introduction of new instrumentsand investors. The objective will be to allocatethe assets of the Scheme between variousmoney market and fixed income Securities withthe objective of providing liquidity and achievingoptimal returns.

An open endedIncome scheme, witha portfolio ofmarginally highermaturity andmoderately highercredit risk comparedto liquid fund.

439.19 601



InvestmentObjective

InvestmentStrategy


as on31-3-2011

No. ofFoliosas on

31-3-2011

JPMorganJF GreaterChinaEquityOff-shoreFund

Units/ shares ofJPMorgan Funds - JFGreater China EquityFund normalallocation of netassets 80-100%;Money marketinstruments and / orunits of liquidschemes normalallocation of netassets 0-20%.

The primary investmentobjective of the scheme isto provide long termcapital appreciation byinvesting in JPMorganFunds - JF Greater ChinaEquity Fund, an equityfund which investsprimarily in a diversifiedportfolio of companiesincorporated or whichhave their registeredoffice located in, or derivethe predominant part oftheir economic activityfrom, a country in theGreater China region.

The primary investment objective of the Schemeis to provide long term capital appreciation byinvesting in JPMorgan Funds - JF Greater ChinaEquity Fund, an equity fund which investsprimarily in a diversified portfolio of companiesincorporated or which have their registeredoffice located in, or derive the predominant partof their economic activity from, a country in theGreater China region. The Scheme may alsoinvest a part of its corpus in money marketinstruments and / or units of liquid schemes tomeet liquidity requirements from time to time.

An open-ended fundof funds schemeaiming at a long termcapital appreciationby investing inJPMorgan Funds - JFGreater China EquityFund.

125.04 1426

JPMorganIndiaLiquidFund

Money marketinstruments (includ-ing cash and reverserepo and debtinstruments withmaturity upto 91days) up to 100%;Securitised debtinstruments withmaturity up to 91 daysupto 30%.


An open ended liquidscheme aiming at lowrisk while providinghigh level of liquidity.JPMorgan IndiaLiquid Fund holds aportfolio which has aaverage maturity ofnot more than 91days.

340.53 455The investment objectiveof the scheme is to providereasonable returns,commensurate with lowrisk while providing a highlevel of liquidity through aportfolio of money marketand debt securities.However, there can be noassurance that theinvestment objective of theScheme will be realised

JPMorganIndiaActiveBondFund

Money market andDebt instrumentswith maturity /average maturity /interest rate reset notgreater than one year10-100%; Debtinstruments includinggovernment securi-ties and corporateDebt 0-90%.

The investment objectiveof the Scheme is togenerate optimal returnswhile maintaining liquiditythrough activemanagement of theportfolio by investing indebt and money marketinstruments.However, there can be noassurance that theinvestment objective of theScheme will be realised.


An open endedIncome schemeaiming at generatingoptimal returnsthrough activemanagement of theportfolio.

4.39 182

26



InvestmentObjective

InvestmentStrategy


as on31-3-2011

No. ofFoliosas on

31-3-2011

JPMorganIndiaShortTermIncomeFund

Money market andDebt instrumentsincluding governmentsecurities withmaturity / averagematurity / residualmaturity / interestrate reset not greaterthan one year65-100%; Debtinstruments withmaturity / averagematurity / residualmaturity / interestrate reset greaterthan one year 0-35%.

The investment objectiveof the Scheme is togenerate income byinvesting primarily inmoney market and shortterm debt instruments.However, there can be noassurance that income canbe generated, regular orotherwise or that theinvestment objective of theScheme will be realised.

The domestic debt markets are maturing rapidlywith liquidity emerging in various debt segmentsthrough the introduction of new instrumentsand investors. The objective will be to allocatethe assets of the Scheme between variousmoney market and fixed income Securities withthe objective of providing liquidity and achievingoptimal returns. The portfolio duration willundergo a change according to the expectedmovement in interest rates. Liquidity conditionsand other macro-economic factors affectinginterest rates shall be taken into account forvarying the portfolio duration. Under normalcircumstances, if the interest rates move down,the duration of the portfolio shall be increasedand vice versa. The Investment Manager mayreview the pattern of investments based onviews on interest rates and asset liabilitymanagement needs.

An open endedIncome schemeinvesting primarilyin money marketand short termdebt instruments.

188.36 167

* Please refer Asset Allocation Pattern under each Scheme for more details.

JPMorganEmergingEurope,MiddleEast andAfricaEquityOff-ShoreFund

Units / shares ofJPMorgan Funds -Emerging Europe,80%-100%; MiddleEast and Africa EquityFund; Money marketinstruments and/orunits of liquidschemes 0% - 20%.

The primary investmentobjective of the Scheme isto provide long termcapital appreciation byinvesting in JPMorganFunds - Emerging Europe,Middle East and AfricaEquity Fund, an equityfund which investsprimarily in a diversifiedportfolio of companiesincorporated or whichhave their registered officelocated in, or derive thepredominant part of theireconomic activity from, anemerging market incentral, eastern andsouthern Europe, MiddleEast or Africa.However, there can be noassurance that theinvestment objective of theScheme will be realised.

The primary investment objective of the Schemeis to provide long term capital appreciation byinvesting in JPMorgan Funds - Emerging Europe,Middle East and Africa Equity Fund, an equity fundwhich invests primarily in a diversified portfolioof companies incorporated or which have theirregistered office located in, or derive thepredominant part of their economic activity from,an emerging market in central, eastern andsouthern Europe, Middle East or Africa.The Scheme may also invest a part of its corpus inmoney market instruments and / or units of liquidschemes to meet liquidity requirements from timeto time.

An open-ended fundof funds schemeaiming at a long termcapital appreciation byinvesting in JPMorganFunds - EmergingEurope, Middle Eastand Africa EquityFund.

5.65 163

COMMON FEATURES FOR ALL SCHEMES

RISK FACTORSStandard Risk Factors for all schemes:Investment in mutual fund units involves investment risks such as tradingvolumes, settlement risk, liquidity risk, default risk including the possible lossof principal.As the price / value / interest rates of the Securities in which the Schemeinvests fluctuates, the value of your investment in the Scheme may go up ordown.Mutual Funds, like Securities investments, are subject to market and otherrisks and there can be no guarantee against loss resulting from an investmentin the Scheme nor can there be any assurance that the Scheme's objectiveswill be achieved.Past performance of the Sponsor/AMC/Mutual Fund does not guarantee futureperformance of the Scheme.JPMorgan India Equity Fund, JPMorgan India Liquid Fund, JPMorgan IndiaTreasury Fund, JPMorgan India Smaller Companies Fund, JPMorgan India ActiveBond Fund, JPMorgan India Tax Advantage Fund, JPMorgan JF Greater ChinaEquity Off-shore Fund, JPMorgan India Short Term Income Fund and JPMorganEmerging Europe, Middle East & Africa Equity Off-shore Fund are only thenames of the Schemes and does not in any manner indicate either the qualityof the Schemes or their future prospects and returns.

The Sponsor is not responsible or liable for any loss resulting from the operationof the Scheme beyond the initial contribution of R 1,00,000 (One Lakh Rupees)made by it towards setting up the Mutual Fund.The present Schemes are not a guaranteed or assured return schemes.

Scheme specific risk factors for all schemes:Schemes investing in money market instruments� Investments in money market instruments would involve a moderate credit

risk, i.e. risk of an issuer's liability to meet the principal payments.� Money market instruments may also be subject to price volatility due to

factors such as changes in interest rates, general level of market liquidityand market perception of credit worthiness of the issuer of suchinstruments.

� The NAV of the Scheme's Units, to the extent that the Scheme is investedin money market instruments, will be affected by changes in the level ofinterest rates. When interest rates in the market rise, the value of a portfolioof money market instruments can be expected to decline.

Schemes investing in BondsRisk Factors associated with Debt Securities:� The NAV of the Scheme, to the extent invested in Debt Securities, will be

affected by changes in the general level of interest rates. The NAV of theScheme is expected to increase from a fall in interest rates while it wouldbe adversely affected by an increase in the level of interest Rates.

27

� Debt Securities, while fairly liquid, lack a well-developed secondary market,which may restrict the selling ability of the Scheme and may lead to theScheme incurring losses till the security is sold.

� Debt Securities are subject to the risk of the issuer's inability to meetinterest and principal payments on its obligations and market perceptionof the creditworthiness of the issuer.

� The AMC may, considering the overall level of risk of the portfolio, investin lower rated / unrated Securities offering higher yields.

� The liquidity of investments made in the Scheme may be restricted bytrading volumes and settlement periods. Different segments of the Indianfinancial markets have different settlement periods and such periods maybe extended significantly by unforeseen circumstances. The Trustee hasthe right, in its sole discretion, to limit Redemptions (including suspendingRedemption) under certain circumstances. There may be temporaryperiods when the monies of the Scheme are un-invested and no return isearned thereon. The inability of the Scheme to make intended Securitiespurchases, due to settlement problems, could cause the Scheme to misscertain investment opportunities. By the same token, the inability to sellSecurities held in the Scheme's portfolio due to the absence of a welldeveloped and liquid secondary market for Debt Securities could result,at times, in potential losses to the Scheme, should there be a subsequentdecline in the value of the Securities held in the Scheme's portfolio.

� The liquidity and valuation of the Scheme's investments due to its holdingsof unlisted Securities may be affected if they have to be sold prior to theirtarget date of divestment.

� Debt Securities, which are not quoted on the stock exchanges, areinherently illiquid in nature and carry a larger amount of liquidity risk, incomparison to Debt Securities that are listed on the exchanges or offerother exit options to the investor, including a put option. Within theregulatory limits, the AMC may choose to invest in unlisted Debt Securitiesthat offer attractive yields.

� While Debt Securities that are listed on the stock exchange carry lowerliquidity risk, the ability to sell these investments is limited by the overalltrading volume on the stock exchanges. Money market Securities, whilefairly liquid, lacks a well-developed secondary market, which may restrictthe selling ability of the Scheme and may lead to the Scheme incurringlosses till the Security is finally sold.

� Money market Securities and debt Securities are subject to the risk of anissuer's inability to meet interest and principal payments on its debtobligations (credit risk). Credit risk or default risk refers to the risk whichmay arise due to default on the part of the issuer of the fixed incomesecurity (i.e., will be unable to make timely principal and interest paymentson the security). Because of this risk debentures are sold at a yield spreadabove those offered on treasury securities, which are sovereign obligationsand generally considered to be free of credit risk. Normally, the value of afixed income security will fluctuate depending upon the actual changes inthe perceived level of credit risk as well as the actual event of default.These securities may also be subject to price volatility due to factors suchas changes in interest rates, general level of market liquidity and marketperception of the creditworthiness of the issuer, among others (marketrisk). The Liquidity Risk refers to the ease at which a security can be soldat or near its true value. The primary measure of liquidity risk is the spreadbetween the bid price and the offer price quoted by a dealer. Liquidity riskis characteristic of the Indian fixed income market. The InvestmentManager will endeavour to manage credit risk through in-house creditanalysis. The Scheme may also, but is not obliged to, use various hedgingproducts from time to time, as are available and permitted by SEBI, toattempt to reduce the impact of undue market volatility on the Scheme'sportfolio. There is no guarantee that hedging techniques will achieve thedesired result.

� The investments made by the Scheme are subject to reinvestment risk.This risk refers to the interest rate levels at which cash flows receivedfrom the Securities in the Scheme are reinvested. The additional incomefrom reinvestment is the "interest on interest" component. The risk is thatthe rate at which interim cash flows can be reinvested may be lower thanthat originally assumed. The risk refers to the fall in the rate forreinvestment of interim cash flows.

� The NAV of the Scheme's Units, to the extent that the Scheme is investedin fixed income Securities, will be affected by changes in the general levelof interest rates. When interest rates decline, the value of a portfolio offixed income Securities can be expected to rise. Conversely, when interestrates rise, the value of a portfolio of fixed income Securities can be expectedto decline.

� To the extent the Scheme's investments are in floating rate debtinstruments or fixed debt instruments swapped for floating rate return,they will be affected by interest rate movement (basis risk) - coupon rates

on floating rate securities are reset periodically in line with the benchmarkindex movement. Normally, the interest rate risk inherent in a floatingrate instrument is limited compared to a fixed rate instrument. Changesin the prevailing level of interest rates will likely affect the value of theScheme's holdings until the next reset date and thus the value of theScheme's Units. The value of Securities held by the Scheme generally willvary inversely with changes in prevailing interest rates. The Mutual Fundcould be exposed to interest rate risk:(i) due to the time gap in the resetting of the benchmark rates, and(ii) to the extent the benchmark index fails to capture interest rate changes

appropriately (spread risk): though the basis (i.e. benchmark) getsreadjusted on a regular basis, the spread (i.e. markup) over benchmarkremains constant. This can result in some volatility to the holding periodreturn of floating rate instruments.

� Settlement Risk (counterparty risk): Specific floating rate assets may alsobe created by swapping a fixed return into a floating rate return. In such aswap, there is the risk that the counterparty (who will pay floating ratereturn and receive fixed rate return) may default;

� Liquidity Risk: The market for floating rate Securities is still in itsevolutionary stage and therefore may render the market illiquid from timeto time, for such Securities that the Scheme is invested in.

� Prepayment Risk: The borrower/issuer of security may prepay thereceivables prior to their respective due dates. This may result in changein the yield and tenor of the scheme.

� Different types of Securities in which the Scheme may invest as given inthe SID carry different levels and types of risk. Accordingly the Scheme'srisk may increase or decrease depending upon its investment pattern.E.g. corporate bonds carry a higher amount of risk than governmentSecurities. Further even among corporate bonds, bonds which are ratedAAA are comparatively less risky than bonds which are AA rated.

� Investments in the Scheme made in foreign currency by a Unit Holder aresubject to the risk of fluctuation in the value of Indian Rupee.

Risk Factors Associated with DerivativesThe Scheme may invest in derivative products in accordance with and to theextent permitted under the Regulations. The use of derivatives requires anunderstanding of the underlying instruments and the derivatives themselves.The risk of investments in derivatives includes mispricing or improper valuationand the inability of derivatives to correlate perfectly with underlying assets,rates and indices.� Trading in derivatives carries a high degree of risk although they are traded

at a relatively small amount of margin which provides the possibility ofgreat profit or loss in comparison with the principal investment amount.

� The Scheme may find it difficult or impossible to execute derivativetransactions in certain circumstances. For example, when there areinsufficient bids or suspension of trading due to price limits or circuitbreakers, the Scheme may face a liquidity issue.

� The option buyer's risk is limited to the premium paid, while the risk of anoption writer is unlimited. However, the gains of an option writer are limitedto the premiums earned. Since in case of the Scheme all option positionswill have underlying assets, all losses due to price-movement beyond thestrike price will actually be an opportunity loss.

The relevant stock exchange may impose restrictions on exercise of optionsand may also restrict the exercise of options at certain times in specifiedcircumstances.

� The writer of a put option bears the risk of loss if the value of the underlyingasset declines below the exercise price. The writer of a call option bears arisk of loss if the value of the underlying asset increases above the exerciseprice. Investments in index futures face the same risk as investments in aportfolio of shares representing an index. The extent of loss is the sameas in the underlying stocks.

� The Scheme bears a risk that it may not be able to correctly forecastfuture market trends or the value of assets, indexes or other financial oreconomic factors in establishing derivative positions for the Scheme.

� The risk of loss in trading futures contracts can be substantial, because ofthe low margin deposits required, the extremely high degree of leverageinvolved in futures pricing and the potential high volatility of the futuresmarkets.

Derivatives products are leveraged instruments and can providedisproportionate gains as well as disproportionate losses to the investor.Execution of such strategies depends upon the ability of the fund manager toidentify such opportunities. Identification and execution of the strategies tobe pursued by the fund manager involve uncertainty and decisions of a fundmanager may not always be profitable. No assurance can be given that the

28

fund manager will be able to identify or execute such strategies. The risksassociated with the use of derivatives are different from or possibly greaterthan, the risks associated with investing directly in securities and othertraditional investments.As and when the Scheme trades in derivative products, there are risk factorsand issues concerning the use of derivatives that investors should understand.Derivatives require the maintenance of adequate controls to monitor thetransactions and the embedded market risks that a derivative adds to theportfolio.Besides the price of the underlying asset, the volatility, tenor and interestrates affect the pricing of derivatives. Other risks in using derivatives includebut are not limited to:(a) Credit Risk - this occurs when a counterparty defaults on a transaction

before settlement and, therefore, the Scheme is compelled to negotiatewith another counterparty at the then prevailing (possibly unfavourable)market price, in order to maintain the validity of the hedge.

(b) Market Liquidity Risk - this is where the derivatives cannot be sold(unwound) at prices that reflect the underlying assets, rates and indices.

(c) Model Risk - this is the risk of mis-pricing or improper valuation ofderivatives.

(d) Basis Risk - this is when the instrument used as a hedge does not matchthe movement in the instrument / underlying asset being hedged. Therisks may be inter-related also; for e.g. interest rate movements can affectequity prices, which could influence specific issuer / industry assets.

Risks associated with Short Selling and Securities LendingThe risks in lending portfolio Securities, as with other extensions of credit,consist of the failure of another party, in this case the approved intermediary,to comply with the terms of the agreement entered into between the lenderof Securities, i.e. the Scheme, and the approved intermediary. Such failure tocomply can result in a possible loss of rights in the collateral put up by theborrower of the Securities, the inability of the approved intermediary to returnthe Securities deposited by the lender and the possible loss of any corporatebenefits accruing to the lender from the Securities deposited with the approvedintermediary. The Mutual Fund may not be able to sell such Securities andthis can lead to temporary illiquidity.

Risk Factors Associated with Overseas InvestmentSubject to necessary approvals and within the investment objectives of theScheme, the Scheme may invest in overseas markets which carry risks relatedto fluctuations in the foreign exchange rates, the nature of the securities marketof the country, restrictions on repatriation of capital due to exchange controlsand the political environment. Further the repatriation of capital to India mayalso be hampered by and changes in Regulations or political circumstances.In addition, country risks would include events such as introduction ofextraordinary exchange controls, economic deterioration, bi-lateral conflictlending to immobilization of overseas financial assets and the prevalent taxlaws of the respective jurisdiction for the execution of trades or otherwise.

Risk factors associated with Securitised DebtsGenerally available asset classes for securitisation in India:� Commercial vehicles� Auto and two wheeler pools� Mortgage pools (residential housing loans)� Personal loan, credit card and other retail loans� Corporate loans / receivablesIn terms of specific risks attached to securitisation, each asset class wouldhave different underlying risks, however, residential mortgages typically havelower default rates as an asset class. On the other hand, repossession andsubsequent recovery of commercial vehicles and other auto assets is normallyeasier and better compared to mortgages. Some of the asset classes such aspersonal loans, credit card receivables etc., being unsecured credits in nature,may witness higher default rates. As regards corporate loans / receivables,depending upon the nature of the underlying security for the loan or thenature of the receivable the risks would correspondingly fluctuate. However,the credit enhancement stipulated by rating agencies for such asset classpools is typically much higher and hence their overall risks are comparable toother AAA or equivalent rated asset classes.Some of the factors, which are typically analyzed for any pool, are as follows:Size of the loan: this generally indicates the kind of assets financed with loans.Also indicates whether there is excessive reliance on very small ticket size,which may result in difficult and costly recoveries. To illustrate, the ticket sizeof housing loans is generally higher than that of personal loans. Hence in theconstruction of a housing loan asset pool for say R 1,00,00,000/- it may beeasier to construct a pool with just 10 housing loans of R 10,00,000/- eachrather than to construct a pool of personal loans as the ticket size of personal

loans may rarely exceed R 5,00,000/- per individual.Average original maturity of the pool: this indicates the original repaymentperiod and whether the loan tenors are in line with industry averages andborrower's repayment capacity. To illustrate, in a car pool consisting of 60month contracts, the original maturity and the residual maturity of the poolviz. number of remaining instalments to be paid gives a better idea of the riskof default of the pool itself. If in a pool of 100 car loans having original maturityof 60 months, more than 70% of the contracts have paid more than 50% ofthe monthly instalments and if no default has been observed in such contracts,this pool should have a lower probability of default than a similar car loanpool where 80% of the contracts have not yet paid 5 instalments.Loan to value ratio ("LTV"): indicates how much of the value of the asset isfinanced by borrower's own equity. The lower the LTV, the better it is. Thisratio stems from the principle that where the borrower's own contribution ofthe asset cost is high, the chances of default are lower. To illustrate: for atruck costing R 20 lakhs, if the borrower has himself contributed R 10 lakhsand has taken R 10 lakhs as a loan, he is going to have lesser propensity todefault as he would lose an asset worth R 20 lakhs if he defaults in repayingan instalment. This is as against a borrower who may meet only R 2 lakhs outof his own equity for a truck costing R 20 lakhs. Between the two scenariosgiven above, as the borrower's own equity is lower in the latter case, it wouldtypically have a higher risk of default than the former.Average seasoning of the pool: this indicates whether borrowers have alreadydisplayed repayment discipline. To illustrate, in the case of a pool of personalloans, if a pool of assets consist of borrowers who have already repaid 80% ofthe instalments without default, the probability of default is lower than for apool where only 10% of instalments have been repaid.Default rate distribution: this indicates how much % of the pool and overallportfolio of the originator is current, how much is in 0-30 DPD (days pastdue), 30-60 DPD, 60-90 DPD and so on. The rationale here is that, as against0-30 DPD, the 60-90 DPD is a higher risk category. Unlike in plain vanillainstruments, in securitisation transactions it is possible to work towards atarget credit rating, which could be much higher than the originator's owncredit rating.In the Indian scenario, also, more than 95% of issuances have been AAA orequivalent rated issuances indicating the strength of the underlying assets aswell as adequacy of credit enhancement.Investment exposure of the Fund with reference to securitised debt:� The Scheme will predominantly invest only in those securitisation issuances

which have AAA or equivalent rating indicating the highest level of safetyfrom credit risk point of view at the time of making an investment. TheScheme will not invest in foreign securitised debt.

� The Scheme may invest in various types of securitization issuances,including but not limited to asset backed securitisation, mortgage backedsecuritisation, personal loan backed securitisation, collateralised loanobligation / collateralized bond obligation and so on.

� The Scheme does not propose to limit its exposure to only one asset classor to have asset class based sub-limits as it will primarily look towards theAAA or equivalent rating of the offering.

� The Scheme will conduct an independent due diligence on the cashmargins, collateralisation, guarantees and other credit enhancements andthe portfolio characteristic of the securitisation to ensure that the issuancefits into the overall objective of the investment in high investment gradeofferings irrespective of underlying asset class.

Risk Factors specific to investments in securitised papers:Types of securitised debt vary and carry different levels and types of risks.Credit risk on securitised bonds depends upon the originator and variesdepending on whether they are issued with recourse to the originator orotherwise. Even within securitised debt, AAA or equivalent rated securitiseddebt offers lesser risk of default than AA rated securitised debt. A structurewith recourse will have a lower credit risk than a structure without recourse.As underlying assets in securitised debt may assume different forms and thegeneral types of receivables include auto finance, credit cards, home loans orany such receipts, credit risks relating to these types of receivables dependupon various factors including macro economic factors of these industriesand economies. Specific factors like nature and adequacy of propertymortgaged against these borrowings, nature of loan agreement / mortgagedeed in case of home loan, adequacy of documentation in case of auto financeand home loans, capacity of borrower to meet its obligation on borrowings incase of credit cards and the intention of the borrower influence the risks relatingto the asset borrowings underlying the securitised debt.Changes in market interest rates and pre-payments may not change theabsolute amount of receivables for the investors, but may have an impact onthe reinvestment of the periodic cash flows that the investor receives in thesecuritised paper.

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Limited Liquidity & Price Risk:Presently, the secondary market for securitised papers is not very liquid. Thereis no assurance that a deep secondary market will develop for such securities.This could limit the ability of the Fund to resell them. Even if a secondarymarket develops and sales were to take place, these secondary transactionsmay be at a discount to the initial issue price due to changes in the interestrate structure.

Risks due to possible prepayments: Weighted Tenor / Yield:Asset securitisation is a process whereby commercial or consumer credits arepackaged and sold in the form of financial instruments. Full prepayment ofunderlying loan contract may arise under any of the following circumstances:� obligor pays the receivable due from him at any time prior to the scheduled

maturity date of that receivable; or� receivable is required to be repurchased by the seller consequent to its

inability to rectify a material misrepresentation with respect to thatreceivable; or

� the servicer recognizing a contract as a defaulted contract and hencerepossessing the underlying asset and selling the same.In the event of prepayments, investors may be exposed to changes intenor and yield.

Bankruptcy of the originator or seller:If the originator becomes subject to bankruptcy proceedings and the court inthe bankruptcy proceedings concludes that the sale from originator to Trustwas not a sale then the Fund could experience losses or delays in the paymentsdue. All possible care is generally taken in structuring the transaction so as tominimize the risk of the sale to Trust not being construed as a "True Sale".Legal opinion is normally obtained to the effect that the assignment ofReceivables to Trust in trust for and for the benefit of the investors, as envisagedherein, would constitute a true sale.

Bankruptcy of the investor's agent:If Investor's agent becomes subject to bankruptcy proceedings and the courtin the bankruptcy proceedings concludes that the recourse of Investor's Agentto the assets / receivables is not in its capacity as agent / Trustee but in itspersonal capacity, then an Investor could experience losses or delays in thepayments due under the swap agreement. All possible care is normally takenin structuring the transaction and drafting the underlying documents so as toprovide that the assets / receivables if and when held by Investor's Agent isheld as agent and in Trust for the Investors and shall not form part of thepersonal assets of Investor's Agent. Legal opinion is normally obtained to theeffect that the Investors Agent's recourse to assets / receivables is restrictedin its capacity as agent and trustee and not in its personal capacity.

Credit Rating of the Transaction / Certificate:The credit rating is not a recommendation to purchase, hold or sell theCertificate in as much as the ratings do not comment on the market price ofthe Certificate or its suitability to a particular investor. There is no assuranceby the rating agency either that the rating will remain at the same level forany given period of time or that the rating will not be lowered or withdrawnentirely by the rating agency.

Risk of Co-mingling:The Servicers normally deposit all payments received from the Obligors intothe Collection Account. However, there could be a time gap between collectionby a Servicer and depositing the same into the Collection account especiallyconsidering that some of the collections may be in the form of cash. In thisinterim period, collections from the Loan Agreements may not be segregatedfrom other funds of the Servicer. If the Servicer fails to remit such funds,including due to his bankruptcy or failure, due to Investors, the Investors maybe exposed to a potential loss. Due care is normally taken to ensure that theServicer enjoys highest credit rating on stand alone basis to minimize Co-mingling risk.

Scheme specific risk factors for JPMorgan India Equity Fund,JPMorgan India Smaller Companies Fund, JPMorgan India TaxAdvantage Fund, JPMorgan JF Greater China Equity Off-shore Fundand JPMorgan Emerging Europe, Middle East & Africa Equity Off-shoreFund.Schemes investing in Equities:The value of the Scheme's investments may be affected by factors affectingthe securities markets such as price and volume volatility in the capital markets,interest rates, currency exchange rates, changes in law/policies of thegovernment, taxation laws and political, economic or other developmentswhich may have an adverse bearing on individual Securities, a specific sectoror all sectors. Consequently, the NAV of the Units of the Scheme may beaffected.Equity Securities and equity-related Securities are volatile and prone to pricefluctuations on a daily basis. The liquidity of investments made by the Scheme

may be restricted by trading volumes and settlement periods. This may impactthe ability of the Unit Holders to redeem their Units. In view of this, the Trusteehas the right, in its sole discretion to limit Redemptions (including suspendingRedemption) under certain circumstances. Settlement periods may beextended significantly by unforeseen circumstances. The inability of theScheme to make intended Securities purchases, due to settlement problems,could cause the Scheme to miss certain investment opportunities. Similarly,the inability to sell Securities held in the Scheme's portfolio could result, attimes, in potential losses to the Scheme, should there be a subsequent declinein the value of Securities held in the Scheme's portfolio.Investments in equity and equity related Securities involve a degree of riskand investors should not invest in the Scheme unless they can afford to takethe risk of losing their investment.The liquidity and valuation of the Scheme's investments due to its holdings ofunlisted Securities may be affected if they have to be sold prior to the targetdate for disinvestment.Securities which are not quoted on the stock exchanges are inherently illiquidin nature and carry a larger liquidity risk in comparison with Securities thatare listed on the exchanges or offer other exit options to the investors, includingput options. The AMC may choose to invest in unlisted Securities that offerattractive yields within the regulatory limit. This may however increase therisk of the portfolio.

Risks in the strategies of the JPMorgan India Short Term Income FundRisks associated with investing in Bonds� The AMC may choose to invest in unlisted Debt Securities that offer

attractive yields within regulatory limits. This may however increase therisk of the portfolio. Additionally, the liquidity and valuation of the Scheme'sinvestment due to its holdings of the unlisted Securities may be affected ifthey have to be sold prior to the target date of investment.

Risks associated with investing in Derivatives� The Mutual Fund may use derivatives in connection with its investment

strategies.� The risks associated with the use of derivatives are different from or

possibly greater than, the risks associated with investing directly inSecurities and other traditional investments. Derivatives may be riskierthan other types of investments because they may be more sensitive tochanges in economic or market conditions than other types of investmentsand could result in losses that significantly exceed a fund's originalinvestment. Certain derivatives may give rise to a form of leverage. As aresult, a fund may be more volatile than if the fund had not been leveragedbecause the leverage tends to exaggerate the effect of any increase ordecrease in the value of the fund's portfolio Securities.

Risks associated with Overseas Investment� Currency Risk: The foreign securities are issued and traded in foreign

currencies. As a result, their values may be affected by changes in theexchange rates between foreign currencies and the Indian Rupees as wellas between currencies of countries other than India. Restrictions oncurrency trading that may be imposed by developing market countrieswill have an adverse effect on the value of the securities of companiesthat trade or operate in such countries.

Risks associated with investing in Government Securities� Market Liquidity risk with fixed rate Government Securities: Even though

the Government Securities market is more liquid compared to other debtinstruments, on certain occasions, there could be difficulties in transactingin the market due to extreme volatility leading to constriction in marketvolumes. Also, liquidity of the Scheme may suffer in case the relevantguidelines issued by RBI undergo any adverse changes.

� Interest Rate risk associated with Government Securities: WhileGovernment Securities carry minimal credit risk since they are issued bythe Government of India, they do carry price risk depending upon thegeneral level of interest rates prevailing from time to time. Generally, wheninterest rates rise, prices of fixed income Securities fall and when interestrates decline, the prices of fixed income Securities increase. The extent offall or rise in the prices is a function of the coupon rate, days to maturityand the increase or decrease in the level of interest rates. The price-risk isnot unique to Government Securities. It exists for all fixed income securities.Therefore, their prices tend to be influenced more by movement in interestrates in the financial system than by changes in the Government's CreditRating. By contrast, in the case of corporate or institutional fixed incomeSecurities, such as Bonds or debentures, prices are influenced by theirrespective credit standing as well as the general level of interest rates.

� Risks associated with floating rate Government Securities: Floating ratesecurities issued by the Government (coupon linked to Treasury billbenchmark or an inflation linked bond) have the least sensitivity to interestrate movements compared to other Securities. Some of these Securities

30

are already in issue. These Securities can play an important role inminimizing interest rate risk in a portfolio.

Scheme Specific Risk Factors for JPMorgan JF Greater China EquityOff-shore Fund and JPMorgan Emerging Europe, Middle East & AfricaEquity Off-shore FundRisk factors for a Fund of Funds Scheme� The Scheme will be investing primarily in shares / units of the underlying

fund, which in turn invests in companies incorporated or which have theirregistered office located in or derive the predominant part of theireconomic activity from, a country in the Greater China region for JPMorganJF Greater China Equity Off-shore Fund / Emerging Europe, Middle East &African countries for JPMorgan Emerging Europe, Middle East & AfricaEquity Off-shore Fund. Hence the Scheme's performance may depend uponthe performance of the underlying fund. Any change in the investmentpolicy or the fundamental attributes of the underlying fund will affect theperformance of the Scheme.

� Investments in the underlying fund, which is an equity fund, will have allthe risks associated with investments in equity and the offshore markets.

� The portfolio disclosure of the Scheme will be largely limited to theinvestments made by the Scheme.

� In addition to the recurring expenses of the Scheme, the investor shallalso bear the applicable expenses of the Underlying fund. Therefore, thereturns that the investor may receive shall be substantially impacted ormay, at times, be lower than the returns that an investor, directly investingin the Underlying fund could obtain.

Risk Factors for the Underlying Fund� The performance of the underlying fund will be affected by a number of

risk factors, including the following, which have also been disclosed bythe underlying fund in its prospectus filed with the appropriate regulatoryauthorities:(i) Political, economic and social risks - All financial markets may at times

be adversely affected by changes in political, economic and socialconditions. Economic and / or political instability could lead to legal,fiscal and regulatory changes or the reversal of legal / fiscal /regulatory / market reforms.

(ii) Market risk - The underlying fund's investments are subject to therisks inherent in all investments in Securities i.e. the value of holdingsmay fall as well as rise. As the underlying fund invests primarily inequities, investors are exposed to stock market fluctuations and thefinancial performance of the companies held in the underlying fund'sportfolio. In addition, the underlying fund may be subject to investmentholding limits imposed on investors by the markets in which theunderlying fund invests.

(iii) Currency risk - The assets in which the underlying fund is invested andthe income from the assets will or may be quoted in currencies whichare different from the underlying fund's base currency. Theperformance of the underlying fund will therefore be affected bymovements in the exchange rate between the currencies in which theassets are held and the underlying funds' base currency and hencethere can be the prospect of additional loss or the prospect of additionalgain to the investors greater than the usual risks of investment. Theperformance of the underlying fund may also be affected by changesin exchange control regulations.

(iv) Hedging risk - The investment manager to the underlying fund ispermitted, but not obliged, to use hedging techniques to attempt tooffset market and currency risks. There is no guarantee that hedgingtechniques will achieve the desired result.

(v) Diversification risk - Although their portfolios are well diversified interms of the number of holdings, investors should be aware that thefund is likely to be more volatile than a broad-based fund, such as aglobal equity fund, as they are more susceptible to fluctuations invalue resulting from adverse conditions in the region (viz. GreaterChina for JPMorgan JF Greater China Equity Off-shore Fund / EasternEurope, Middle East and Africa for JPMorgan Emerging Europe, MiddleEast & Africa Equity Off-shore Fund) in which it invests.

(vi) Emerging markets risk - Accounting, auditing and financial reportingstandards in some of the emerging markets in which some of theunderlying fund's assets may be invested may be less rigorous thaninternational standards. As a result, certain material disclosures maynot be made.Investment in emerging markets involves special considerations andrisks. Many emerging market countries are still in the early stages ofmodern development and are subject to abrupt and unexpectedchange. In many cases, governments retain a high degree of direct

control over the economy and may take actions having sudden andwidespread effects. There is a possibility of nationalisation,expropriation or confiscatory taxation, foreign exchange control,political changes, government regulation, social instability ordiplomatic developments which could affect adversely the economiesof emerging markets or the value of the underlying fund's investments,and the risks of investing in countries with smaller capital markets,such as limited liquidity, price volatility, restrictions on foreigninvestment and repatriation of capital, and the risks associated withemerging economies, including high inflation and interest rates andpolitical and social uncertainties. Investors should be aware that theinvestments of the underlying fund being primarily in the emergingmarkets, its stocks can be negatively impacted by low liquidity, poortransparency and greater financial risks. However, the volatility of theunderlying fund is limited by its diversification across a large numberof companies and industry groups.Investments in products relating to emerging markets may also becomeilliquid which may constrain the ability of the investment manager tothe underlying fund to realize some or all of the portfolio.

(vii) Legal, tax and regulatory risk - Legal, tax and regulatory changes couldoccur during the term of the underlying fund which may adverselyaffect it. If any of the laws and regulations currently in effect shouldchange or any new laws or regulations should be enacted, the legalrequirements to which the underlying fund and the investors may besubject could differ materially from current requirements and maymaterially and adversely affect the underlying fund and the investors.Legislation could be imposed retrospectively (as a result the underlyingfund could become subject to additional taxation that was notcontemplated either when investments were made, valued or disposedof) or may be issued in the form of internal regulations not generallyavailable to the public.

(viii) Settlement Risks� The securities markets in some countries lack the liquidity,

efficiency and regulatory and supervisory controls of moredeveloped markets.

� Lack of liquidity may adversely affect the ease of disposal of assets.The absence of reliable pricing information in a particular securityheld by the underlying fund may make it difficult to assess reliablythe market value of assets.

� The share register of companies in which the underlying fundinvests in may not be properly maintained and the ownership orinterest may not be (or remain) fully protected.

� Registration of Securities may be subject to delay and during theperiod of delay it may be difficult to prove beneficial ownership ofthe Securities.

� The provision for custody of assets may be less developed than inother more mature markets and thus provides an additional levelof risk for the fund.

� Settlement procedures may be less developed and still be inphysical as well as in dematerialised form.

(ix) Derivatives Risk - The underlying fund may use derivatives inconnection with its investment strategies. Derivative products areleveraged instruments and can provide disproportionate gains as wellas disproportionate losses to the investor. Execution of such strategiesdepends upon the ability of the investment manager of the underlyingfund to identify such opportunities. Identification and execution ofthe strategies to be pursued by the investment manager of theunderlying fund involve uncertainty and decision of the investmentmanager of the underlying fund may not always be profitable. Noassurance can be given that the investment manager of the underlyingfund will be able to identify or execute such strategies.The risks associated with the use of derivatives are different from orpossibly greater than, the risks associated with investing directly inSecurities and other traditional investments. Derivatives may be riskierthan other types of investments because they may be more sensitiveto changes in economic or market conditions than other types ofinvestments and could result in losses that significantly exceed a fund'soriginal investment. Certain derivatives may give rise to a form ofleverage. As a result, a fund may be more volatile than if the fund hadnot been leveraged because the leverage tends to exaggerate the effectof any increase or decrease in the value of the fund's portfolioSecurities.Derivatives are also subject to the risk that changes in the value of aderivative may not correlate perfectly with the underlying asset, rateor index. The use of derivatives for hedging or risk management

31

purposes or to increase income or gain may not be successful, resultingin losses to the underlying fund, and the cost of such strategies mayreduce the fund's returns and increase the fund's potential for loss.

(x) Investment in Russia*- The underlying Fund may invest in securitieslisted on the Russian Trading System (RTS) Stock Exchange and on theMoscow Interbank Currency Exchange in Russia. Investments in Russiaare currently subject to certain heightened risks with regard to theownership and custody of securities. In Russia shareholdings areevidenced by entries in the books of a company or its registrar (whichis neither an agent nor responsible to the Custodian). No certificatesrepresenting shareholdings in Russian companies will be held by theCustodian or any of its local sub-custodians or in an effective centraldepository system. As a result of this system and the lack of effectivestate regulation and enforcement, the underlying Fund could lose itsregistration and ownership of Russian securities through fraud,negligence or even mere oversight. However, in recognition of suchrisks, the Russian sub-custodian of the Custodian is following increased"due diligence" procedures. The sub-custodian has entered intoagreements with Russian company registrars and will only permitinvestment in those companies that have adequate registrarprocedures in place. In addition, the settlement risk is minimised asthe sub-custodian will not release cash until registrar extracts havebeen received and checked. In addition, Russian debt securities havean increased custodial risk associated with them as such securitiesare, in accordance with market practice, held in custody with Russianinstitutions which may not have adequate insurance coverage.*This pertains only to JPMorgan Emerging Europe, Middle East & AfricaEquity Off-shore Fund.

(xi) Investing in Equities - Equity Securities and equity-related Securitiesare volatile and prone to price fluctuations on a daily basis. The liquidityof investments made by the Underlying fund may be restricted bytrading volumes and settlement periods. This may impact the abilityof the Unit Holders to redeem their Units. In view of this, the Trusteehas the right, in its sole discretion to limit Redemptions (includingsuspending Redemption) under certain circumstances. Settlementperiods may be extended significantly by unforeseen circumstances.The inability of the Underlying fund to make intended Securitiespurchases, due to settlement problems, could cause the Underlyingfund to miss certain investment opportunities. Similarly, the inabilityto sell Securities held in the Underlying fund's portfolio could result,at times, in potential losses to the Scheme, should there be asubsequent decline in the value of Securities held in the Underlyingfund's portfolio.In view of the above, investment in the Scheme should be regarded aslong term in nature. The Scheme is, therefore, only suitable forinvestors who can afford the risks involved.

Risks associated with investing in foreign Securities� Subject to necessary approvals and within the investment objectives of

the Scheme, the Scheme will be investing in the overseas markets whichcarry risks related to fluctuations in the foreign exchange rates, the natureof the securities market of the country, restrictions on repatriation of capitaldue to exchange controls and the political environment. Further therepatriation of capital to India may also be hampered by changes in theRegulations or political circumstances.

� In addition, country risks would include events such as introduction ofextraordinary exchange controls, economic deterioration, bi-lateral conflictleading to immobilisation of overseas financial assets and the prevalenttax laws of the respective jurisdictions for the execution of trades orotherwise.

� Subject to the other terms of the SID, all applicants applying for up to5000 Units (Five Thousand only) shall be given their full allotment.However, keeping in mind the investment restrictions in foreign Securitiescurrently applicable to mutual funds vide SEBI's circulars SEBI/IMD/CIRNo. 7/104753/07 dated September 26, 2007 and SEBI/IMD/CIR No.2/1222577/08 dated April 8, 2008, if the overall limit for the Mutual Fund inoverseas investments of up to USD 300 million has been reached,applicants will receive a pro-rata allotment as calculated by the AMC. Insuch an event, application monies relating to the unused portion of theinvestor's original allotment request may be refunded to investors. Thearrangement is subject to SEBI regulations and approvals. The process formonitoring the US$ 300 mn limit for overseas investments shall be asfollows:– The cap of US$ 300 mn would be monitored at the mutual fund level

and not the scheme level.– If 90% of the limit is reached, intimation to all investors and empanelled

distributors would be made informing them that further sales will be

suspended when the mutual fund's combined AUM in overseas schemesreaches the cap of US$ 300 mn. A notice will be issued for suchintimation at all our ISC offices, AMC branches and on the website(www.jpmorganmf.com).

– Allotment would be done on a pro-rata basis if the US$ 300 mn cap isbreached.eg:I) Day T (opening AUM) - US$ 270 mn is the overseas AUM of the

mutual fund, Incoming cashflows on Day T - US$ 30 mn– Allotment would be done for the entire amount.

II) Day T (opening AUM) - US$ 270 mn is the overseas AUM of themutual fund, Incoming cashflows on Day T - US$ 60 mn– Allotment would be done only for US$ 30 mn on a pro rata

basis.– On this day a notice would be sent out to all ISC offices, AMC

branches and on the website (www.jpmorganmf.com) statingthat further sales are suspended with immediate effect, in casefurther overseas fund quota from SEBI has not been obtained.

� If the cap of US$ 300 mn is reached, refunds would be settled on a T+3basis

� The above process will not have any impact on the redemption process.

NAME OF THE TRUSTEE COMPANYJPMorgan Mutual Fund India Private LimitedRegistered Office:J. P. Morgan Tower, Off C.S.T. Road, Kalina,Santacruz - East, Mumbai - 400 098.

TAXATION ON INVESTING IN MUTUAL FUNDSInvestor are advised to refer to the details in the Statement of AdditionalInformation and also independently refer to their tax advisor.

FOR INVESTOR GRIEVANCES PLEASE CONTACTInvestors can enquire about NAVs, unit holdings, valuation, dividends, etc. orlodge any service request at the toll-free number "1-800-22-5763". In order toprotect confidentiality of information, the service representatives may requirepersonal information of the investor for verification of his identity.Any complaints should be addressed to Mr. Anutosh Bose, who has beenappointed as the investor relations officer. He can be contacted at:Address : J.P. Morgan Tower, Off C.S.T. Road, Kalina,

Santacruz - (E), Mumbai 400 098Toll-free No. : 1-800-22-5763 (JPMF)(MTNL/BSNL lines)Fax : +91 22 6157 4170E-mail : [email protected]

Registrar and Transfer Agent:Deutsche Investor Services Private LimitedAddress : Nirlon Knowledge Park, 4th Floor, Block 1,

Western Express Highway, Goregaon (East),Mumbai - 400 063, Maharashtra - India.

Telephone : 91-22 6670 6000Fax : 91-22 - 6670 6901E-mail : [email protected]; [email protected]

UNIT HOLDERS' INFORMATIONAccount Statements will be sent by ordinary post/courier/electronic mail toeach unit holder, stating the transaction number of units within 10 workingdays from allotment date.The Scheme annual report will be prepared at each financial year end (31March). An abridged summary of the scheme annual report shall be mailed tounit holders not later than four months from the date of closure of the relevantaccounting year (March 31st).Half yearly portfolio details (31 March and 30 September), in the prescribedformat, shall also be disclosed either by publishing it in the newspaper or bysending it to the unit holder within one month from the end of each half yearend and the same shall also be displayed on the website :www.jpmorganmf.com.

Please refer to the Scheme Information Document and Statement ofAdditional Information for any further details.

32

INSTRUCTIONS & NOTESAll instructions & notes are subject to SEBI & AMFI guidelines, as amended from time to time.

1. GENERAL(a) The application form should be completed in ENGLISH in BLOCK LETTERS only.(b) Please read the Key Information Memorandum and the Scheme Information

Document containing the terms of offer carefully before investing. In the SchemeInformation Document your attention is particularly drawn to the risk factors ofinvesting in the scheme and also the sections "Who cannot invest", "Importantnote on anti-money laundering, KYC & investor protection" and "How to apply".

(c) Please strike out any section that is not applicable. Any cancellation andmodification on any of the mandatory information should be countersigned.

(d) Please refer to the checklist at the end of these notes to ensure that the requisitedetails and documents have been provided in order to avoid unnecessary delaysand / or rejection of your application.

(e) The original Power of Attorney or a duly notarised copy of the Power of Attorneyshall be required to be submitted where transactions are made under a Power ofAttorney.

(f) The following documents are to be submitted by a company, body corporate, eligibleinstitutions, society, trusts, partnership or other eligible non-individual applicantswho apply for units in this scheme:1. Certified copy of resolution or authority to make the application.2. Certified copy of the Memorandum and Articles of Association and / or bye-

laws and / or Trust Deed and / or Partnership Deed and certificate ofregistration or any other document that may be required by the AMC as thecase may be.

3. For Trusts / fund, certified true copy of the resolution from the Trustee(s)authorising such transaction.

4. The application should be signed under their official designation.(g) The dates for Systematic Transfer Plan (STP) and Systematic Withdrawal Plan (SWP)

are the same as that of Systematic Investment Plan (SIP).(h) Investors should ensure to write the word 'DIRECT' in the column for 'Broker Code'

in their applications for purchases/additional purchases / switches in cases wheresuch applications are not routed through any distributor / agent/broker.

(i) As per the ELSS, Units issued under JPMorgan India Tax Advantage Fund can beassigned or pledged only after the lock-in period of 3 (three) years has elapsedfrom their date of allotments.

(j) Redemption / Switch-out of Units including units issued under dividendreinvestment option from JPMorgan India Tax Advantage Fund can be made onlyafter a lock-in period of 3 (three) years has expired from the date of allotment ofUnits proposed to be redeemed.

(k) In case of JPMorgan India Tax Advantage Fund, as per the ELSS, in the event of thedeath of the 'Assessee', the nominee or legal heir as the case may be shall be ableto withdraw the investment only after the completion of 1 (one) year from the dateof allotment of the Units to the 'Assessee'. Accordingly, transfer of Units (allottedto 'Assessees' as defined under the ELSS) to nominees as mentioned above will becarried out only after the completion of 1 (one) year from the date of its allotment.The restriction of 1 (one) year shall not apply to units allotted to investors otherthan 'Assesses'.

2. APPLICANT INFORMATION(a) Name and address shall be given in full without any abbreviations. Please provide

a copy of the address proof.(b) The guardian who opens the folio on behalf of the minor should either be a natural

guardian (i.e. father or mother) or a court appointed legal guardian. Name of theguardian must be mentioned if the investments are being made on behalf of aminor. Date of birth is mandatory for minors. The minor shall be the first and thesole holder in an account. There shall not be any joint accounts with minor as thefirst or joint holder. There shall be a freeze on the operation of the account by theguardian on the day the minor attains the age of majority and no transactionsshall be permitted till satisfactory documents (as per the procedure listed out inthe SID) for effecting change in status are received.

(c) Name of the guardian must be mentioned if the investments are being made onbehalf of a minor. Date of birth is mandatory for minors.

(d) Name of the contact person and e-mail and telephone number should be mentionedin case of investments by a company, body corporate, trust, partnership, society,FII and other eligible non-individual applicants. Any change in the status of anyauthorized signatory should be promptly intimated to the AMC. Incompleteapplication forms are liable to be rejected.

(e) Systematic Investment Plans (SIPs) upto R 50,000/- exempt from PermanentAccount Number (PAN)In compliance with SEBI letter no. MRD/DoP/PAN/PM/166999/2009, dated June19, 2009 issued to AMFI and subsequent guidelines issued by AMFI in this regard,effective August 1, 2009, SIPs upto R 50,000/- per year per investor i.e. aggregate

of installments in a rolling 12 month period or in a financial year (to be referred as‘Micro SIP’) shall be exempt from the requirement of PAN as a proof of identification.The exemption shall be applicable to investments by individuals, NRIs, Minor andSole Proprietary Firm. However, PIOs, HUFs, Partnership Firms, Companies,Societies, Trusts and any other category will not be eligible for such exemption.Any one of the following photo identification documents can be submitted alongwith these SIP applications as proof of identification in lieu of PAN:1. Voter Identity Card2. Driving License3. Government / Defense identification card4. Passport5. Photo Ration Card6. Photo Debit Card (Credit card not included because it may not be backed up

by a bank account)7. Employee ID cards issued by companies registered with Registrar of Companies8. Photo Identification issued by Bank Managers of Scheduled Commercial Banks

/ Gazetted Officer / Elected Representatives to the Legislative Assembly /Parliament

9. ID card issued to employees of Scheduled Commercial / State / District Co-operative Banks

10. Senior Citizen / Freedom Fighter ID card issued by Government11. Cards issued by Universities / deemed Universities or institutes under statutes

like ICAI, ICWA, ICSI12. Permanent Retirement Account No (PRAN) card issued to New Pension System

(NPS) subscribers by CRA (NSDL)13. Any other photo ID card issued by Central Government / State Governments /

Municipal authorities / Government organizations like ESIC / EPFOIn addition to the photo identification documents prescribed above, theinvestor shall be required to provide a copy of the proof of address whichis self attested and attested by the ARN holder.

(f) Know Your Customer (KYC): The need to "Know Your Customer" is vital for theprevention of money laundering. The AMC may seek information or obtain andretain documentation used to establish identity. It may re-verify identity and obtainany missing or additional information for this purpose.With effect from January 1, 2011 all Mutual Fund investors are required to complywith Know Your Client (KYC) norms under the Prevention of Money LaunderingAct, 2002 (PMLA). Please refer to our website (www.jpmorganmf.com) or AMFI'swebsite (www.amfiindia.com) for details.The AMC, under powers delegated by the Trustee, shall have absolute discretion toreject any application, prevent further transactions by a Unit Holder, delay processingredemption as per applicable laws or regulations if.(i) after due diligence, the investor / Unit Holder / a person making the payment

on behalf of the investor does not fulfil the requirements of the "Know YourCustomer" as determined by the AMC or the AMC believes that the transactionis suspicious in nature as regards money laundering.

(ii) the AMC determines in its sole discretion that the application does not or willnot comply with any applicable laws or regulations.

In this regard the AMC reserves the right to reject any application and effect amandatory Redemption of Units allotted at any time prior to the expiry of 30Business Days from the date of the application.If the payment for Purchase of Units are made by a third party (e.g. a power ofattorney holder, a financing agency, a relative, etc.), the Unit Holder may be requiredto give such details of such transaction so as to satisfy the AMC of the source and/or consideration underlying the transaction.

(g) For NRIs / NREs, please provide a copy of the cheque leaf or FIRC certificate.

3. BANK ACCOUNT DETAILSAs per SEBI guidelines, it is mandatory for the Sole / First applicant to mention his /her bank account number in the application form. Applications received without therelevant bank account number will be deemed to be incomplete and will be rejected.The AMC and the R&T (the Registrar and Transfer Agent) reserves the right to hold anyredemption proceeds in case the requisite details are not submitted. The AMC may askfor a copy of a cancelled cheque to verify these details.The AMC currently has a direct credit facility with the following banks (mentioned herebelow in alphabetical order):ABN AMRO, Axis Bank, Citibank NA, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, IDBIBank, Kotak Bank and Standard Chartered.The AMC will provide direct credit facility with additional banks as may be availablefrom time to time to the investors. Please contact the AMC and R&T for further details.In case you do not wish to receive redemption proceeds by direct credit facility, pleasetick the appropriate option in the application form.IFSC code is necessary for electronic payouts.

33

4. INVESTMENT DETAILSApplicants should indicate the Option (Dividend/Growth) for which the application ismade. In case applicants wish to opt for both the options, separate application formswill have to be completed for each option. If no indication is given for the investment,the default option will be the growth option. Further, if no indication is given for payoutor reinvestment under dividend option, the default option will be the dividendreinvestment option.

5. MODE OF PAYMENTApplications can be submitted at the designated collection centres as appended in theKIM. Applications can be submitted at the Official Points of Acceptance of the AMC / R& T. Only one cheque/DD will be accepted per application form for fresh and additionalpurchases. The Mutual Fund and its agents / representatives are not obliged to representdishonoured cheques or inform the investor/investor's agent about such cheques. Forinvestments made through NRE/NRO account, a cheque along with a photocopy of thecheque and the application form must be submitted to a JPMorgan AMC branch.Payment can be made by rupee draft purchased abroad, payable at locations wherethe application is submitted to a JPMorgan AMC branch / collection centre.(I) Safe Mode of Writing ChequeIn order to prevent frauds and misuse of payment instruments, the investors maymake the payment instrument (i.e. cheque, demand draft, pay order, etc.) favouringeither of the following :1. "JPMorgan Scheme A/c"2. "JPMorgan Scheme A/c First Investor Name"3. "JPMorgan Scheme A/c Permanent Account Number"(II) Third Party PaymentsNo third party payments shall be accepted in any of the schemes of JPMorgan MutualFund. However, under following exceptional circumstances the third party chequeswill be accepted.a) Payment by Parents/Grand-Parents/related persons on behalf of a minor in

consideration of natural love and affection or as gift for a value not exceeding R50,000/- (each regular purchase or per SIP installment)

b) Payment by Employer on behalf of employee through Payroll deductions.c) Custodian on behalf of an FII or a client.Investors submitting their applications in the abovementioned exceptionalcircumstances are required to provide the following documents without which theapplications for subscription of units will be rejected/ not processed/ refunded:a) Mandatory KYC for Investor and the person making the payment i.e. third party.

Copy of the KYC Acknowledgement letter of both; the investor and the personmaking the payment, should be attached along with the application form.

b) Declaration from the Investor and the person making the payment. Declarationby the person making the payment should give details of the bank account fromwhich the payment is made and the relationship with the investor.

(III) Source of FundsA) If the payment is made by cheque: An investor at the time of his/her purchase

must provide the details of his pay-in bank account (i.e. account from which asubscription payment is made) and his pay-out bank account (i.e. account intowhich redemption / dividend proceeds are to be paid). The verification of thirdparty cheque will be made on the basis of either matching the paying - in bankaccount details with the pay-out bank details or by matching the bank accountnumber/ name of the first applicant/ signature of the first applicant with the nameof the account holder/ account number/ signature on the cheque. If the name isnot pre-printed on the cheque or the signature on the cheque does not match,then the first named applicant should submit any one of the following documents:a) copy of the bank pass book or account statement from the bank having the

name, account number and address of the investor. (Investors should alsobring the original documents along with the documents mentioned. The copyof such documents will be verified with the original documents to thesatisfaction of the AMC/ R&TA. The original documents will be returned acrossthe counter to the investor after due verification.)

b) a letter* from the bank on its letterhead certifying that the investor maintainsan account with them specifying the account number, type of account, branch,the MICR code of the branch & the IFSC code (where applicable).

In case an investor has multiple accounts, investors are requested to register themwith the AMC. Pay-in from such registered single or multiple accounts can betreated as 1st party payments. The process to be followed for registration of multiplebank accounts is detailed in the 'Multiple Bank Accounts Registration Form'.

B) If the payment is made with pre-funded instruments such as Pay Order, DemandDraft, Banker's cheque, etc. (by debiting a bank account), a Certificate* (in original)from the Issuing banker must accompany the purchase application, stating theAccount holder's name and the Account number which has been debited for issueof such instrument.

C) The AMC/ R&TA will not accept any purchase applications from investors ifaccompanied by a pre-funded instrument issued by a bank against cash forinvestments of R 50,000 or more. In case the application is accompanied by the

pre-funded instrument issued by bank against cash for less than R 50,000 thenthe investor is required to submit a Certificate* (in original) obtained from thebank giving name, address and PAN (if available) of the person who has requestedfor the payment instrument.*The said letter/Certificate should be duly certified by the bank manager withhis / her full signature, name, bank seal and contact number. The AMC / MutualFund / R&TA will check that the name mentioned in the Certificate matches withthe first named investor.

D) If payment is made by RTGS, NEFT, ECS, bank transfer, etc., a copy of the instructionto the bank stating the account number debited must accompany the purchaseapplication.

E) Investors transacting through (i) MFSS/ BSE StAR MF Platform under the electronicorder collection system for schemes which are unlisted and (ii) Stock Exchange(s)for the listed schemes; will have to comply with norms / rules as prescribed byStock Exchange(s).

The above broadly covers the various modes of payment for mutual fund subscriptions.The above list is not a complete list and is only indicative in nature and not exhaustive.Any other method of payment, as introduced by the Mutual Fund, will also be coveredunder these provisions.

6. FAX INSTRUCTIONS*Initial Purchases, Additional Purchases and Redemptions may be communicatedthrough facsimile.In connection with the agreement by the AMC / Mutual Fund / Registrar to accept fromthe Unit Holder / Investor, from time to time instructions by facsimile (FacsimileInstructions), the Unit Holder / Investor confirms that:1. He/she acknowledges that Facsimile Instructions are not a secure means of

communication, and is aware of the risk involved, and that the request to the AMC/ Mutual Fund / Registrar to accept such Facsimile Instructions is for the UnitHolder's / Investor's convenience.

2. The AMC/ Mutual Fund / Registrar is authorised to act on any Facsimile Instructionwhich the AMC / Mutual Fund / Registrar in its sole discretion believes is transmittedfrom the Unit Holder / Investor and, provided that the AMC exercises due care incarrying out its internal verification procedures, the AMC / Mutual Fund / Registrarshall not be liable for acting in good faith on such Facsimile Instructions which aretransmitted from unauthorised persons.

3. Any transaction entered into by the AMC/ Mutual Fund / Registrar pursuant to aFacsimile Instruction in good faith and in the absence of gross negligence, defaultor fraud shall be binding upon the Unit Holder / Investor whether made with orwithout his/her authority, knowledge or consent.

4. The Unit Holder / Investor agrees that security procedures adopted by the AMC /Mutual Fund / Registrar may include signature verification, telephone callbacksor a combination of the same. Callbacks may be recorded by tape recording deviceand the Unit Holder / Investor consents to such recording and agrees to co-operatewith the AMC / Mutual Fund / Registrar to enable confirmation of such FacsimileInstruction requests. The Unit Holder / Investor further accept that the FacsimileInstruction shall not be considered until time stamped appropriately as a validtransaction request in the Scheme in line with the SEBI Regulations. In case ofInitial Purchases, the transaction shall be processed and units allotted on the basisof the time stamped Facsimile Instruction, provided all requisite physical / originaldocuments (subject to the same being in order) are submitted to the AMC / MutualFund / Registrar by 2.30 pm on the same day in case of JPMorgan India LiquidFund and 5.30 pm on the same day in case of JPMorgan India Treasury Fund,JPMorgan India Active Bond Fund and JPMorgan India Short Term Income Fund. Itshall be the sole obligation of the Investor to ensure that the requisite physical /original documents (subject to the same being in order) are submitted to the AMC /Mutual Fund / Registrar by 2.30/5.30 pm (as mentioned above) on the same day,failing which the application / transaction will be rejected. The AMC / Mutual Fundreserves the right to reject the application in case the original varies from theFacsimile Instruction received.

5. The AMC/ Mutual Fund / Registrar shall not be liable and the Unit Holder / Investorshall indemnify the AMC / Mutual Fund / Registrar and hold the AMC / MutualFund / Registrar harmless against any legal action, procedure, claim, loss, damagesor costs which may be brought against the AMC / Mutual Fund / Registrar orsuffered or incurred by the AMC / Mutual Fund / Registrar and which shall havearisen either directly or indirectly out of or in connection with the AMC / MutualFund / Registrar accepting Facsimile Instructions and acting thereon, whether ornot such Facsimile Instructions are confirmed in writing by the Unit Holder / Investorand whether or not such Facsimile Instructions in fact originate from the UnitHolder / Investor.

*Initial Purchases, through Facsimile Instructions will be accepted only in theJPMorgan India Liquid Fund, JPMorgan India Treasury Fund, JPMorgan India ActiveBond Fund and the JPMorgan India Short Term Income Fund.

7. DEMAT ACCOUNT DETAILS (Required)a) The Scheme will be listed on the National Stock Exchange of India Limited

(NSE) and unitholders may avail of this facility for their transactions. Incase Unit holders do not provide their demat account details, they will not

CHECKLISTPlease ensure that:� Name, address, contact details are mentioned and the signature of ALL applicants is available in the application form.� Bank account details are filled in completely and correctly (mandatory) including IFSC code.� Your preferred option is selected and the investment is not less than the minimum investment amount.� The Permanent Account Number (PAN) for all applicants is mentioned and necessary documents are enclosed, else your application will be rejected.� NRIs need to provide their overseas address (mandatory).� Cheques / DDs are drawn in favour of 'Scheme Name' as applicable, dated and duly signed.� Application form number/folio number and applicant's name is mentioned on the reverse of each cheque / DD.� Documents as listed below are submitted along with the application (as applicable to your specific case) in original / true copies certified by a Director /

Trustee / Company Secretary / Authorised Signatory.� For documents regarding mariners and PIOs or any queries please contact the AMC or ISC.� Investors need not provide any of the below mentioned documents, except PAN, Resolution / authorisation to invest, List of authorised signatories with

specimen signature(s), Notarised Power of Attorney, FIRC in case payment is made by DD from NRE / FCNR or where applicable if he / she / it provides the KYCCompliance proof.

Documents Individual Companies Societies Partnership Investments Trusts NRI FIIsthrough PoA

Resolution / authorisation to invest � � � � �

List of authorised signatories with � � � � �

specimen signature(s)Memorandum & Articles of Association �

Trust deed �

Bye-laws �

Partnership deed �

Notarised Power of Attorney �

For all applications

KYC proof � � � � � � � �

Proof of address � � � � � � � �

Proof of identity �

FIRC in case payment is made byDD from NRE / FCNR or where applicable � �

be able to trade on the stock exchange until the holdings are convertedinto demat mode and listed on the stock exchange.

b) Investors applying as Joint holders, need to provide Demat details of theirJoint Demat Account.

8. COMMUNICATIONJPMorgan Mutual Fund has a service which gives you the latest details of your accountincluding your current valuation and information on transactions. The AccountStatement, Annual Reports or other information etc. may be sent to unit holders by e-mail. If you have an e-mail address you can choose to receive e-mail communicationfrom us in lieu of printed documents. Please furnish your e-mail ID and indicate thenature of communication you wish to receive over e-mail. When a unit holder hascommunicated his/her e-mail address and has provided consent for sendingcommunication only via e-mail, the AMC / Mutual Fund / Registrars & Transfer Agentsare not responsible for the e-mail not reaching the investor and for all consequencesthereof. The investor shall from time to time intimate the Fund / its transfer agentsabout any changes in the e-mail address. In case of a large document, a suitable linkwould be provided and investors can download, save and print these documents.However, the unit holder always has the right to request a physical copy of anyshareholder communication and the AMC will arrange for the same to be sent to theunit holder.

9. NOMINATION DETAILSNomination rules are subject to SEBI Regulations/applicable laws. Applicants applyingfor Units singly/jointly can make a nomination at the time of initial investment orduring subsequent investments.Nomination shall be maintained at the folio level and shall be applicable for investmentsin all schemes in the folio. The nomination can be made only by individuals applyingfor / holding units on their own behalf singly or jointly. Nomination shall be mandatoryfor new folios opened by individuals especially with sole holding. Non-individualsincluding a society, trust, body corporate, partnership firm, Karta of Hindu UndividedFamily, holder of Power of Attorney cannot nominate. If the units are held jointly, alljoint holders will have to sign the nomination form. A minor can be nominated and inthat event, the name and address of the guardian of the minor nominee shall be providedby the unit holder. However, nomination will not be allowed in a folio held on behalf ofa minor. Nomination can also be made in favour of the Central Government, StateGovernment, a local authority, any person designated by virtue of his office or a religiousor charitable trust. The Nominee shall not be a trust (other than a religious or charitable

trust), society, body corporate, partnership firm, Karta of Hindu Undivided Family or aPower of Attorney holder. A Non-Resident Indian can be a Nominee subject to theexchange control regulations in force from time to time. However, nomination cannotbe made in favour of NRI or PIO residents of the United States of America and Canada.Nomination in respect of the units stands rescinded upon the redemption / transfer /transmission of units. Transmission of units in favour of a Nominee shall be a validdischarge by the asset management company against the legal heir. The cancellationof nomination can be made only by those individuals who hold units on their ownbehalf singly or jointly and who made the original nomination. On cancellation of thenomination, the nomination shall stand rescinded and the AMC / Mutual Fund / Trusteesshall not be under any obligation to transmit the units in favour of the Nominee. Everynew nomination for a folio will overwrite the existing nomination.For multiple nominees, please fill up multiple forms. The nomination form is availableon page 41 of this document and on our website : www.jpmorganmf.com

10. DECLARATION AND SIGNATURE(a) All the applicants must sign in original on the application form. Signatures should

be in English or in any Indian language. Thumb impressions should be from theleft hand for males and the right hand for females and in all cases be attested bya Magistrate, Notary Public or Special Executive Magistrate. In case of an HUF(Hindu Undivided Family), the Karta will sign on behalf of the HUF.

(b) The original Power of Attorney or a duly notarized copy of the Power of Attorneyshall be required to be submitted where applications are made under a Power ofAttorney.

10. Under the SIP, for each month / quarter, the investor must submit post-datedcheques or ECS mandate. There should be a gap of one month / quarter betweentwo cheques. The minimum number of instalments under SIP is 6. For JPMorganIndia Tax Advantage Fund, the minimum number of instalments is 18.

11. In case of weekly dividend reinvestment option, record date for the declaration ofdividend shall be every Tuesday, in case of fortnightly dividend reinvestment optionthe record date shall be 14th and 28th of each month and in case of monthlydividend reinvestment option, the record date shall be 25th of each month. Incase these record dates falls on a non-Business Day, the record date shall betaken to be the next Business Day. There is no assurance or guarantee to Unitholdersas to the rate of dividend distribution nor that the dividends will be regularlydeclared, though it is the intention of the Mutual Fund to make regular dividenddistribution under the Dividend Option.

34

Status [Please tick (�)]

Agriculture Student Business Retired Professional Service Housewife Others ____________

Occupation [Please tick (�)]3. APPLICANT INFORMATION

Minor NRI Resident Individual HUF Company/BC Trust FIIs Bank / FI Partnership AOP / BoI Club/Society PIO Sole proprietor Others (pl. specify) ____________________

COMMON APPLICATION FORM

(Please refer to instructions carefully on pages 32, 33 and 34 before filling out this form)

Office Signature, stamp & date

Application no.

TReceived from: Mr. / Ms. _________________________________________________________________________________________________________________________________________________________________________________

Application for units of : JPMorgan ________________________________________________________________________________________Plan___________________________________________________________

Option (please �) : Growth (default) Dividend reinvestment Daily (as applicable) Weekly (as applicable) Fortnightly (as applicable) Monthly (as applicable) Dividend payout

Cheque / D.D. no. ________________________________________________________________ for R_____________________________________________________ dated_____________________________________________________

Drawn on bank_________________________________________________________________________________________________________________________________________________________________________________________________

ACKNOWLEDGEMENT SLIP (To be filled in by the investor)

�

�Sub-broker codeBroker code

1. DISTRIBUTOR INFORMATION (Please read the instructions before investing)

For o

ffice

use

Name of guardian (in case of minor) Relationship: Father Mother Legal Guardian

Mr. Ms.

Name of Contact person (In case of institutional investors)

Mr. Ms.

Designation of the contact person

Address of sole / first applicant (Please provide full address) (In case of NRIs/FIIs please provide overseas address - Mandatory P.O. box no. may not be sufficient)

Name of third applicant

Mr. Ms.

Name of second applicant

Mr. Ms.

I/We would like to receive the following documents through e-mail instead of post (Kindly �) Account statement Quarterly review & annual report Other statutory information Newsletter

Mode of holding [Please tick (�)] Single Joint Anyone or survivor (default)

CountryState

City M A N D A T O R YPin

code

CountryCity Pincode

Communication

E-mail

Fax no.Tel. (O)Tel. (R) / Mobile no.

Upto R 5,00,000

5. ANNUAL INCOME [Please tick (�)]

R 5,00,001 to R 25,00,000 R 25,00,001 to R 1,00,00,000 R 1,00,00,001 to R 5,00,00,000 R 5,00,00,001 and above

2. INFORMATION OF EXISTING UNIT HOLDER (For existing investor. Unless details in sections 3 - 6 have changed, please go directly to section 6.Note that applicant details and mode of holding will be as per existing folio number)

Overseas address (Please provide full address. P.O. box no. may not be sufficient) (Mandatory for NRIs / FIIs / PIO)

Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors’ assessment of various factors including the service rendered by the distributor.

Application no.

T

Folio no.Employee SID

(for employees of J.P. Morgan only)

Name of first applicant Date of birth*Mr. Ms. M/s. D D M M Y Y Y Y

*In case where PAN is not provided, providing date of birth is mandatory or else the application is liable to be rejected.

6. INVESTMENT DETAILS (Refer instruction no. 4 on page 33)

Plan (Please �) Retail Institutional Super Institutional

Dividend reinvestment (default) Dividend payout Daily* Weekly* Fortnightly* Monthly*

Option (Please �) Dividend Growth (default)

Scheme name JPMorgan

*as applicable

First applicant

Permanent Account Number (PAN) [Mandatory]

Second applicant

KYC compliantM A N D A T O R Y

M A N D A T O R Y KYC compliant

Guardian

Third applicant

KYC compliantM A N D A T O R Y

M A N D A T O R Y KYC compliant

4. BANK ACCOUNT DETAILS (Mandatory. The application will be rejected if this section is left blank. Please provide the details of the sole / first applicant). (Refer instruction no. 3 on page 32)

Direct credit facility (please refer to the list of banks that offer direct credit facility on page 32). However, if you wish to receive a cheque payout, please tick here (�)Electronic Clearing Services (ECS) facility is available for receiving dividends. If you wish to avail of this facility, please tick here (�)

CityBranch address

Account number Account type Current Savings NRO NRE FCNR

Bank particulars (Name of the bank) Branch

9 digit MICR codeRTGS or neft - IFSC code R E Q U I R E D

74461ARN -

Note: All future communications in connection with this application should be addressed to the nearest JPMorgan Customer Service Centre, quoting full name of the first applicant, the application serial number, thename of the scheme, the amount invested, date and the place of the Customer Service Centre where the application was lodged.Asset Management Company : JPMorgan Asset Management India Private Limited

J. P. Morgan Tower, Off C.S.T. Road, Kalina, Santacruz (East), Mumbai - 400 098. Tel.: 022 - 6157 3000 Fax : 022 - 6157 4170E-mail [email protected] Toll free no. 1-800-22-5763 (JPMF)

Registrar & Transfer Agent : Deutsche Investor Services Private Limited, Nirlon Knowledge Park, 4th Floor, Block 1, Western Express Highway, Goregaon (East), Mumbai - 400 063,Maharashtra - India. Tel. : 022 - 6670 6900 E-mail : [email protected]

JPMorgan Mutual Fund

7. PAYMENT DETAILS (Refer instruction no. 5 on page 33)

7A. INITIAL INVESTMENT (Please note that investors have to fill out separate common application forms for Initial and SIP investments)

Cheque / DD no.

Cheque / DD date

Amount of cheque / DD in figures (R) (i)

DD charges, if any, in figures (R) (ii)

Total amount in figures (R) (i) + (ii)

Rupees in words

Drawn on bank/

Branch name

Account type (Please �) Savings Currrent NRE NRO FCNR

D D M M Y Y Y Y

Relationship with beneficiary(Third party payment)

I/We hereby nominate the undermentioned nominee to receive the amounts to my/our credit in the event of my/our death. I/We also understand that all payments and settlements madeto such nominee and signature of the nominee acknowledging receipt thereof, shall be a valid discharge by the AMC / Mutual Fund / Trustees.

Tick here if you do not wish to nominate ^

9. NOMINATION* DETAILS (Nominations will not be permitted in case of folios held on behalf of a minor)

Address of nominee (Please provide full address)

Name of the nominee

Mr. Ms. M/s.

Date of birth (if nominee is minor)

D D M M Y Y Y Y

Pin codeName of the guardian (If nominee is minor) Relationship with nominee

***** For multiple nominations please ensure that the same details given in this nomination section are sent in on a separate sheet of paper, with all the investors’ signatures.^ Please note that if you do not tick the box nor furnish any nomination details, it is deemed to be assumed that you do not wish to nominate anyone.

Signature of guardian (mandatory) / nominee (optional)Address of guardian

Pin code

Corporate Documents Yes NoASL Yes NoBR Yes No

Systematic Investment Plan (SIP) MICRO SIP DocumentCheques Systematic Transfer Plan (STP)ECS Debit Facility Systematic Withdrawal Plan (SWP)

No. to befilled byapplicant

Forofficeuse

10. DOCUMENTS ENCLOSED (Please �) APPLICATIONS ENCLOSED (Please �) Total No. of enclosuresMicro SIPAlternate Document:_________________

Document Number:__________________

11. DECLARATION AND SIGNATURES

# Please refer to Chapter III of the Scheme Information Document. Signature of all applicants is necessary in case a nominee has been mentioned in Section 8 above.

Applicable to NRI / FII / PIO: I am / We are not U.S. or Canadian person(s) or resident(s) in or citizen(s) of the United States of America or Canada. I / We confirm that I am / We are Non-Resident(s) of Indian nationality / origin and that I / Wehave remitted funds from abroad through approved banking channels or from funds in my / our NRE / FCNR account. I / We undertake that all additional purchases made under this folio will also be from funds received from abroad throughapproved banking channels or from funds in my / our NRE / FCNR account. In case of non residents (please tick as appropriate): 1. Residential Status: Resident (including not ordinarily resident) Non-resident. 2. The units issued to me / uswill be held as investment business asset#.Corporate applicants only: A corporation should affix its company stamp or seal, if any. I am / We are duly authorised to execute and deliver this Master Account Agreement. The corporation is not organised or formed by U.S. Persons, residentsin or citizens of the United States of America principally for the purposes of investing in securities not registered under the Securities Act of 1933 of the United States of America.I / We have read, understood and agree to the contents of the Key Information Memorandum (including the ‘General section’), Statement of Additional Information and the Scheme Information Document of the above Scheme(s) of JPMorgan MutualFund including the sections on "Who cannot invest", "Note on Anti Money Laundering, Know-Your-Customer and Investor Protection", "How to Apply?”, “Fax Instructions” and any indemnities provided therein.I / We shall make our own independent decisions whether to subscribe for Units acting upon our own judgment and such independent advice as I / We consider appropriate. I / We hereby apply for allotment / purchase of Units in the Scheme(s)and agree to abide by the terms and conditions applicable thereto. I / We hereby declare that I / We am / are a "person resident in India" for the purposes of the Foreign Exchange Management Act, 1999 and I / We am / are authorised to makethis investment and that the amount invested in the Scheme is through legitimate sources only and does not involve and is not designed for the purpose of any contravention or evasion of any act, rules, regulations, notifications or directionsissued by any regulatory authority in India. I / We hereby authorise JPMorgan Mutual Fund, its Investment Manager and / or its agents to disclose details of my investment to my bank(s) / JPMorgan Mutual Fund's bank(s) and / or any relevantdistributor / broker / investment advisor, as appropriate. I / We have neither received nor been induced by any rebate or gifts, directly or indirectly, in making this investment. I / We declare that the information given in this application form iscorrect, complete and truly stated.The ARN holder has disclosed to me/us all the commissions (in the form of trail commission or any other mode), payable to him for the different competing Schemes of various Mutual Funds from amongst which the Scheme is being recommended to me/us.I do not have any existing Micro SIPs which together with the current application will result in aggregate investments exceeding R 50,000 in a year. I hereby declare that in case of third party payments, the payments are covered under one of thefollowing- Payment by Parents/Grand-Parents/related persons on behalf of a minor in consideration of natural love and affection or as gift for a value not exceeding R 50,000/- (each regular purchase or per SIP installment) or Payment by Employeron behalf of employee through Payroll deductions or Custodian on behalf of an FII or a client.(These signatures will be matched against the signatures in the repurchase or other transactions and in case of improper match or difference in the signatures, investors will be requested to get their signature verified by their banks.)

Sole / First applicant Second applicant Third applicant

SIGNATURE(S)Date

Third party cheque issuer

8. DEMAT ACCOUNT DETAILS OF FIRST / JOINT APPLICANT(S) (Refer Instruction 7)

NSDL OR CDSL

Depository Participant (DP) ID Beneficiary Account Number Depository Participant (DP) ID & Beneficiary Account Number

Please note that :1. If demat details provided are not valid, allotment will be done in physical / statement of account mode.2. In case of valid demat account details provided, the bank account details, joint holding details, mode of holding (joint / anyone or survivor) in case of joint holdings, address details

and nominee details as per the demat account shall prevail over the correponding details provided on the application form.

Payment mechanism (Please � any one only) 1. Cheques (Please provide the details below) 2. ECS debit facility (Please complete the application form for ECS debit facility)

Cheques drawn on

Subsequent

instalment cheque nos.

Name of bank Branch

Instalment amount (R) No. of instalments Total Amount (R)

Amount (R) Cheque dated M M Y YD D

From

To

From

To

From

To

Frequency (Please � any one only)Monthly SIP (default) Quarterly SIP

7B. SYSTEMATIC INVESTMENT PLAN (Refer terms and conditions on page 38 and instructions for SIP on page 40)

Enrolment period

No. of instalments (default as per SID)M M Y YStart Date 1st (default) 10th 15th 25th All dates (for ECS facility only)Dates

First SIP transaction via Cheque no.

Please read Terms & Conditions overleaf

First SIP cheque and subsequent SIP via ECS (debit clearing) in select banks.

The TrusteeJPMorgan Mutual Fund India Private Limited

I / We have read and understood the contents of the Scheme Information Document of the following scheme(s) and the terms & conditions of SIP ECS (debit clearing).

Please (�) any one.

I / We hereby apply for ECS under the SIP (debit clearing) of the following scheme(s) / option and agree to abide by the terms and conditions of the following scheme(s) / plan / option(new registration).

Please change my / our bank account for ECS (debit clearing) (change in bank account).

I / We hereby apply for cancellation of ECS (debit clearing ) facility for SIP of the following scheme / option (cancellation).

There must be at least 21 days gap between the first SIP cheque and subsequent due date of ECS (debit clearing).

I/We hereby, authorise JPMorgan Mutual Fund and its authorised service providers, to debit my/our following bank account by ECS (debit clearing) for collection of SIP payments.

PARTICULARS OF BANK ACCOUNT

I/We hereby declare that the particulars given above are correct and express my willingness to make payments referred above through participation in ECS (debit clearing). If the transactionis delayed or not effected at all for reasons of incomplete or incorrect information, I/we would not hold the user institution responsible. I/We will also inform JPMorgan Mutual Fund about anychanges in my / our bank account. I/We have read and agreed to the terms and conditions mentioned overleaf.

For office use only (not to be filled in by the investor)

Recorded on

Recorded by

Scheme code

Credit account number

Authorisation of the bank account holder (to be signed by the Investor)

This is to inform that I/we have registered for the RBI’s Electronic Clearing Service (debit clearing) and that my paymenttowards my investment in JPMorgan Mutual Fund shall be made from my/our below mentioned bank account with yourbank. I/we authorise the representative carrying this ECS (debit clearing) mandate form to get it verified & executed.

Bank account number

INVESTOR AND SIP DETAILS

Sole / First investor name

SIP date (Please �) [for ECS (debit clearing)] 1st (default) 10th 15th 25th

Bank name

Branch name

Bank city

* Please provide the MICR code of the bank branch from where the ECS is to be effected. MICR codes starting or ending with 00 are not valid for ECS.

Accountholder name as inbank account


First account holder’s signature (As in bank records) Third account holder’s signature (As in bank records)

SIGNATURE(S)

9 digit MICR code* RTGS or neft - IFSC code

Account number Account type (Please �) Savings Current

First applicant Second applicant Third applicant

SIGNATURE(S)

Growth (default option) Dividend Dividend reinvestment (default) Dividend payout Daily* Weekly* Fortnightly* Monthly*

*as applicable

Each SIP instalment amount (R) Frequency Monthly (default) Quarterly

Option(Please �)

First SIP transactionvia cheque no. Amount (R)

C h e q u edated

ECS REGISTRATION CUM MANDATE APPLICATION FORM(ECS MANDATE FACILITY)

M M Y YD D

Folio no. (for existing unit holder) / Application no. (for new investor)

Date

R E Q U I R E D

Start from M M Y Y

�

�

SIP period [for ECS (debit clearing)] (default - as per SID)End on

Second account holder’s signature (As in bank records)

All dates* (see overleaf)


M M Y Y

Note: All future communications in connection with this application should be addressed to the nearest JPMorgan Customer Service Centre, quoting full name of the first applicant, the application serialnumber, the name of the scheme, the amount invested, date and the place of the Customer Service Centre where the application was lodged.Asset Management Company : JPMorgan Asset Management India Private Limited

J. P. Morgan Tower, Off C.S.T. Road, Kalina, Santacruz (East), Mumbai - 400 098. Tel.: 022 - 6157 3000 Fax : 022 - 6157 4170E-mail [email protected] Toll free no. 1-800-22-5763 (JPMF)

Registrar & Transfer Agent : Deutsche Investor Services Private Limited, Nirlon Knowledge Park, 4th Floor, Block 1, Western Express Highway, Goregaon (East), Mumbai - 400 063,Maharashtra - India. Tel. : 022 - 6670 6900 E-mail : [email protected]


ECS : TERMS AND CONDITIONS

Please read this form in conjunction with the SIP terms and conditions mentioned on the reverseof the SIP / SWP enrolment form before applying.

1. The first cheque should be drawn on the same bank account which is to be registered for ECS(debit clearing). Alternatively, the cheque may be drawn on any bank, but provide a photocopyof the cheque of the bank / branch for which ECS (debit clearing) is registered.

2. First SIP cheque and subsequent SIP instalments via ECS (debit clearing) should be of the sameamount.

3. Please submit the following documents at least 21 days gap before the first SIP date for ECS(debit clearing) :

• Application form for the respective scheme(s)

• SIP ECS facility form

• First SIP cheque

4. Investors will not hold JPMorgan Mutual Fund / JPMorgan Asset Management India PrivateLimited, its registrars and other service providers responsible if the transaction is delayed ornot effected or the investor's bank account is debited in advance or after the specific SIP datedue to local holidays or any other reason.

5. JPMorgan Mutual Fund / JPMorgan Asset Management India Private Limited, its registrars andother service providers shall not be responsible and liable for any damages, compensation forany loss, damage, etc., incurred by the investor. The investor assumes the entire risk of usingthis facility and takes full responsibility.

6. JPMorgan Mutual Fund / JPMorgan Asset Management India Private Limited reserves the rightto reject any application without assigning any reason thereof.

7. Please refer to the Key Information Memorandum / Offer Document of the respective scheme(s)for applicable NAV, risk factors, load and other information.

8. You can choose to change your bank account or discontinue this facility by giving 15 days writtennotice to any of our Investor Service Centres.

* If the investor chooses this option, the mandate will be carried out for all four dates specified.

3938

Received from: Mr. / Ms. / M/s.(Please �)

STP From scheme

To scheme

SWP From scheme

STP / SWP Enrolment Form

(Please read instructions overleaf)

Sub-broker codeBroker code

1. DISTRIBUTOR INFORMATION (Please read the instructions before investing)

For

offi

ceus

e

The TrusteeJPMorgan Mutual Fund India Private LimitedI / We have read and understood the contents of the Scheme Information Document of the following scheme(s) and the terms & conditions overleaf. I / We hereby apply forenrolment under the STP / SWP of the following scheme(s) / plan(s) / option(s) and agree to abide by the terms and conditions of the following scheme(s) / plan(s) / option(s).

Please note : Signature(s) should be as they appear in the application form and in the same order. In case the mode of holding is joint, all applicants are required to sign.

Office Signature, stamp & date

Enrolment form no.

STACKNOWLEDGEMENT SLIP (To be filled in by the investor)

�

�

Total STP / SWP amount (R) on Daily Weekly Fortnightly Monthly (default) Quarterly basis.

JPMorgan

JPMorgan

4. SYSTEMATIC WITHDRAWAL PLAN (SWP) DETAILS (This application form needs to accompany the application form of the scheme in case a new applicant opts for Systematic Withdrawal Plan)

Scheme

SWP dates (Please �) Amount of withdrawal per instalment (R)

Enrolment period

Frequency (Please � any one only) Monthly SWP (default) Quarterly SWP

Total withdrawal amount (R)

No. of instalments From ToM M Y Y M M Y Y

3. SYSTEMATIC TRANSFER PLAN (STP) DETAILS (This application form needs to accompany the application form of the scheme in case a new applicant opts for Systematic Transfer Plan)

Option (�) Growth (default) Dividend Dividend reinvestment (default) Dividend payout Daily* Weekly* Fortnightly* Monthly* *as applicable

STP dates (Please �)

Fromscheme JPMorgan

Frequency (Please � any one only) Daily STP Weekly STP Fortnightly STP Monthly STP (default)

Enrolment period

No. of instalments

Total amount of transfer (R)

Fixed amount per instalment (R)

From ToM M Y Y M Y Y

Folio no. (for existing Unit holder) / Application no. (for new investor)

2. APPLICANT INFORMATION

Name of sole / first applicant

5. DECLARATION AND SIGNATURES

Applicable to NRI / FII / PIO : I am / we are not U.S. or Canadian person(s) or resident(s) in or citizen(s) of the United States of America or Canada. I / We confirm that I am / we are Non-Resident(s) of Indian nationality / origin and that I/we haveremitted funds and undertake that all additional purchases made under this folio will also be from funds received from abroad through approved banking channels or from funds in my / our NRE / FCNR account.In case of non residents (please tick as appropriate): The units issued to me / us will be held as a) investment b) business assetCorporate applicants only : (A corporation should affix its company stamp or seal, if any.) I am / we are duly authorised to execute and deliver this Master Account Agreement. The corporation is not organised or incorporated under the laws of theUnited States of America.By signing this form, I / we explicitly warrant that I / we remain in full compliance with all the declarations set out in section 10 of the Common Application Form previously completed by me / us and these declarations are deemed repeatedin full for this and all future transactions in JPMorgan Mutual Fund.If you have any doubt as to the content of these declarations, please contact 1800-22-5763 (JPMF) before signing this form.(These signatures will be matched against the signatures in the repurchase or other transactions and in case of improper match or difference in the signatures, investors will be requested to get their signature verified by their banks.)


SIGNATURE(S)

Date

JPMorgan


Toscheme JPMorgan


JPMorgan

M

Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors’ assessment of various factors including the service rendered by the distributor.

1st (default) 10th 15th 25th

1st (default) 10th 15th 25th

Enrolment form no.

ST

Name of guardian (in case First / Sole applicant is a minor)

Name of second applicant

Name of third applicant

Mr. Ms. M/s.

PAN no. M A N D A T O R Y

Mr. Ms. M/s.


Mr. Ms. M/s.


Mr. Ms. M/s.


[Mandatory - Please refer to instruction no.2(d) on page 32] Please (�) PAN card copy KYC compliant




74461ARN -

Please note that the investor has to fill out a common application form for lumpsum and SIP investments.

SYSTEMATIC WITHDRAWAL PLAN (SWP) INSTRUCTIONS (Please read the Scheme Information Document for more details)

1. The transfer will commence from the start date that is provided by the applicant inthe STP form.

2. Please clearly tick the frequency of the STP (daily or weekly or fortnightly ormonthly).

3. The STP request should be received at an Investor Service Centre at least 15 daysbefore the first transfer date.

4. The AMC should be given clear instructions of discontinuance of at least 15 days inthe case of an STP.

5. The transaction needs to be supported by a copy of the PAN proof (PAN card / PANallotment letter).

6. In case the date that is chosen for the STP falls on a non-business day, thetransaction will take effect from the following business day.

SYSTEMATIC TRANSFER PLAN (STP) INSTRUCTIONS (Please read the Scheme Information Document for more details)

7. The STP application form needs to accompany the application form of the schemein case a new applicant opts for Systematic Transfer Plan.

8. For selection of multiple STP dates under the same folio, a multiple number of STPforms are to be filled in.

9. The transfers under this facility can be made on a daily / weekly / fortnightly /monthly basis.

10. Units transferred into JPMorgan India Tax Advantage Fund will be locked in for aperiod of 3 (three) years from the date of allotment of Units. Units transferred outof the Scheme are required to have completed the lock-in period. STP will be subjectto meeting the minimum redemption and purchase criteria of each of the respectiveschemes.

1. The request for an SWP should be received at an Investor Service Centre at least 15days before the first due date for withdrawal.

2. The AMC should be given clear instructions of discontinuance of at least 15 days inthe case of an SWP.

3. The withdrawal will commence from the withdrawal start date that is mentioned inthe SWP form.

1. SIP is available to investors in all the schemes of JPMorgan Mutual Fund.2. The SIP application form should be completed in English and in block letters only.

Please tick (�) in the appropriate circle. The SIP application form, complete in allrespects, should be submitted at any of the Investor Service Centres (ISCs) ofDeutsche Investor Services Private Limited as designated by the AMC from time totime.

3. a. New investors who wish to enroll for SIP are required to fill the schemeapplication form. New investors are advised to read the Scheme InformationDocument of the scheme(s) before investing. The Scheme InformationDocument / Key Information Memorandum(s) of the scheme(s) is available withthe ISCs, brokers/distributors and also displayed at the JPMorgan Mutual Fundwebsite i.e. www.jpmorganmf.com.

b. New investors need not have an existing folio for investments into respectiveschemes / options. Such investors can start a folio with an SIP. However, in caseof SIP investments an investor can enter the scheme(s) with a minimum SIPamount.

4. The application is liable to be rejected if any of the following are not provided:a. Permanent Account Number (PAN) and PAN proof for all applicants.b. Bank details.c. FIRC certificate for NRI (or cheque copy).d. Investor name & address.e. Date of birth of minor.f. Overseas address for NRI.g. Unsigned application.h. Corporate documents, including Authorised Signatory List (ASL) as applicable.i. All SIP investments must be of equal amounts including the first instalment.

5. SIP offers investors the following two Plans: (i) Monthly Systematic Investment Plan(MSIP) and (ii) Quarterly Systematic Investment Plan (QSIP).

6. The investor must submit post-dated cheques for each month/quarter. There shouldbe a gap of one month / one quarter between two cheques.i. Minimum amount per cheque for each scheme under MSIP and QSIP is

R 1,000/-, and R 500/- for JPMorgan India Tax Advantage Fund.ii. Total minimum number of cheques/instalments under MSIP (default) and QSIP

is 6 and 18 for JPMorgan India Tax Advantage Fund.7. All SIP cheques (non-ECS) must be dated 1st, 10th, 15th or 25th of a month. All SIP

cheques under MSIP and QSIP should be of the same amount and same date. Forexample, if an investor is enrolling for MSIP for the period July - December for a totalamount of R 60,000/- he will be required to issue six cheques all bearing the samedate (except for the first SIP cheque which could be of any date) and same amount.It may, however, be noted that the first SIP cheque could be of any date, but allsubsequent cheques should be dated either 1st, 10th, 15th or 25th. The first SIPcheque (of any date) and the subsequent cheque should not fall in the same monthfor the MSIP and should not fall in the same quarter for the QSIP. Please note that

there should be minimum gap of 21 days for the ECS mandate to take effect. For postdated cheques to take effect, there should be a minimum of 15 days.For NRIs / NREs, please provide a copy of the cheque leaf or FIRC certificate.

8. Units will be allotted on the above applicable date. In case the date falls on a non-business day or falls during a book closure period, the immediate next business daywill be considered for the purpose of determining the applicability of NAV subjectto the realization of cheques.

9. Cheques should be drawn in favour of the respective "scheme name", for example,for JPMorgan India Equity Fund the cheque should be drawn in favour of "JPMorganIndia Equity Fund" and crossed "A/c Payee Only". Unit holders must write the SIPenrolment/application form number on the reverse of the cheques accompanyingthe forms.

10. Payment may be made by cheques drawn on any bank which is situated at, and isa member of, the bankers' clearing house located at the place where the SIPapplication is submitted. Outstation cheques will not be accepted and applicationsaccompanied by such cheques are liable to be rejected. No cash, money order orpostal orders will be accepted.

11. Investors / Unit holders may also enroll for SIP ECS enrolment facility throughElectronic Clearing Service (debt clearing) of the Reserve Bank of India. Investors/ Unit holders may also enroll for SIP direct debt facility available with banks /branches which may be included from time to time in order to enroll for this facility.However, the first instalment will be by way of a cheque. Please fill up the applicationform for SIP ECS enrolment, if you are opting for this facility.

12. Returned cheque(s) may not to be presented again for collection. In casereturned cheques are presented again, the necessary charges are liable to bedebited to the investor.

13. An Account Statement will be issued by mail or by e-mail (if opted by the unit holder)to the unit holder within 10 working days for the first investment through SIP. Thesubsequent account statements will be despatched once every quarter endingMarch, June, September and December within 10 working days of the end of therespective quarter. In the case of a specific request received from investors, theMutual Fund will provide the account statement to investors within five working daysfrom receipt of such a request without any charges. Further, a soft copy of theaccount statement shall be mailed to investors under SIP to their e-mail address ona monthly basis, if so mandated.

14. Unit holders will have the right to discontinue the SIP facility at any time by sendinga written request to the ISC. Notice of such discontinuance should be received atleast 15 days prior to the due date of the next cheque. On receipt of such a request,the SIP facility will be terminated and the balance post dated cheque(s) will bereturned to the unit holder.

15. The Trustee reserves the right to change/modify the terms and conditions of the SIP.16. Redemption of Units including units issued under dividend reinvestment option from

JPMorgan India Tax Advantage Fund can be made only after a lock-in period of 3(three) years has expired from the date of allotment of Units proposed to beredeemed.

SYSTEMATIC INVESTMENT PLAN (SIP) : INSTRUCTIONS (Please read the Scheme Information Document for more details)

4. The SWP application form needs to accompany the application form of the schemein case a new applicant opts for Systematic Withdrawal Plan.

5. For selection of multiple SWP dates under the same folio, a multiple number of SWPforms are to be filled in.

6. Systematic withdrawal of Units from JPMorgan India Tax Advantage Fund can bemade only after completion of the lock-in period of 3 (three) years from the dateof allotment of Units proposed to be withdrawn under the SWP facility.

1. New standing instructions like SIP, SWP, STP in a minor's folio shall only be registered till the date on which the minor attains majority, even if the instructionsmay be for a period beyond that date.

2. In case of existing standing instructions including STP, SIP and SWP registered prior to the minor attaining majority, an advance notice shall be sent to theguardian and the minor, advising, that the existing standing instructions will continue to be processed beyond the date of the minor attaining majority till thetime an instruction is received from the major, by the mutual fund to terminate the standing instruction. It is also be clarified that the standing instruction shallbe terminated within 30 days from the date of receiving the instruction.

40

Form for Nomination / Cancellation of Nomination(To be filled in by individual(s) applying singly or jointly)

(Nominations will not be permitted in case of folios held on behalf of a minor)

I / we and

do hereby nominate the person(s) more particularly described hereunder / and / cancel the nomination made by me / us on the day of

in respect of the Folio No.



Signature of all applicants is necessary.The address as per our records, under the folio, is applicable for this form.

For

Off

ice

USe

Name of the nominee

Mr. Ms. M/s.



Pin code

Name of the guardian (if nominee is minor)

Mr. Ms. M/s.

Relationship with nominee

Pin code

Address of guardian

1. FIRST NOMINEE

Percentage of allocation / share

Name of the nominee

Mr. Ms. M/s.


Pin code


Mr. Ms. M/s.

Pin code

Address of guardian

2. SECOND NOMINEE

Name of the nominee

Mr. Ms. M/s.

3. THIRD NOMINEE

Growth (default) Dividend

Dividend reinvestment (default) Dividend payout

Daily* Weekly* Fortnightly* Monthly* *as applicable

Option (�)

First applicant

Second applicant

Third applicant

Mr. Ms. M/s.

Mr. Ms. M/s.

Mr. Ms. M/s.


Pin code


Mr. Ms. M/s.

Pin code

Address of Guardian


NAME AND SIGNATURE(S) OF APPLICANT(S)

Signature of guardian (mandatory) /nominee (optional)

D D M M Y Y Y Y


D D M M Y Y Y Y



D D M M Y Y Y Y






INSTRUCTIONS

1. These instructions are subject to SEBI Regulations / applicable laws.

2. The nomination can be made only by individuals applying for/holding units on their own behalfsingly or jointly. Non-individuals including society, trust, body corporate, partnership firm, kartaof Hindu Undivided Family, holder of Power of Attorney cannot nominate. If the units are heldjointly, all jointholders will sign the nomination form.

3. A minor can be nominated and in that event, the name and address of the guardian of the minornominee shall be provided by the unit holder. However, nomination will not be allowed in a folioheld on behalf of a minor. Nomination can also be in favour of the Central Government, StateGovernment, a local authority, any person designated by virtue of his office or a religious orcharitable trust.

4. The Nominee shall not be a trust, other than a religious or charitable trust, society, bodycorporate, partnership firm, karta of Hindu Undivided Family or a Power of Attorney holder. Anon-resident Indian can be a Nominee subject to the exchange controls in force, from time totime.

5. Nomination in respect of the units stands rescinded upon the transfer of units.

6. Transfer of units in favour of a Nominee shall be valid discharge by the asset managementcompany against the legal heir.

7. The cancellation of nomination can be made only by those individuals who hold units on theirown behalf singly or jointly and who made the original nomination.

8. On cancellation of the nomination, the nomination shall stand rescinded and the assetmanagement company shall not be under any obligation to transfer the units in favour of theNominee.

9. Unitholders should mention the number of nominees who shall receive the amounts in the eventof his/her death in ratio mentioned by the unit holder. In case the ratio is not mentioned, theholding will be equally split. However, the AMC reserves the right to treat such requests asincomplete.

10. Nomination cannot be made in favour of NRI or PIO residents of the United States of Americaand Canada.

11. Nomination shall be maintained at the folio level and shall be applicable for investments in allschemes in the folio.

12. Where a folio has joint holders, all joint holders should sign the request for nomination /cancellation of nomination, even if the mode of holding is not “joint”.

13. Every new nomination for a folio/account will overwrite the existing nomination.

42

Cover III

A. UNIT HOLDER INFORMATION

To The TrusteeJPMorgan Mutual Fund India Private LimitedPlease (�) ANY ONE of the boxes below. In absence of indication of the option, the form is liable to be rejected.

I / We wish to register multiple bank accounts for my folio. I understand thatall the existing bank accounts in the folio will be substituted.

Add one or more bank account(s) to the bank accounts already registered formy folio. (For Unit Holders already registered for multiple bank accounts).

Note : A combination of Savings (SB) / NRO and NRE accounts is not allowed for a folio. All the bank accounts for receiving redemption / dividend proceeds should be of type SB or NRO in case theinvestments are made vide SB or NRO accounts in the folio. If investments are made vide NRE account(s), all the bank accounts registered for redemption should be of NRE type only in the folio.

Date D D M M Y Y Y YIMPORTANT: Please fill in the information below legibly in English and in BLOCK Letters only. Pleasestrike off the section(s) that is (are) not used by you to avoid any unauthorized use.

B. DETAILS OF BANK ACCOUNTS

Sole / First Unit Holder name

5. 6.

3. 4.

Folio nos.: 1. 2.

DEFAULT BANK ACCOUNT (Refer instructions 2 & 3 overleaf)

Bank name

Branch name

Bank city

Account type (Please �) Savings Current NRE NRO FCNR Others

Account number 9 digit MICR code

RTGS or NEFT - IFSC code R E Q U I R E D

SECOND BANK ACCOUNT

Bank name

Branch name

Bank city




THIRD BANK ACCOUNT

Bank name

Branch name

Bank city




FOURTH BANK ACCOUNT

Bank name

Branch name

Bank city




PREFERRED MODE FOR RECEIVING REDEMPTION / DIVIDEND, IF ANYUnit Holders will receive their redemption / dividend (if any) proceeds directly into their bank account as furnished above vide Direct Credit facility / Electronic Credit throughNational Electronic Funds Transfer (NEFT) system of Reserve Bank of India (Refer instruction no. 17 overleaf). If you wish to avail of this facility, please (�) here If you want to receive the redemption / dividend (if any) proceeds by way of a Cheque payout instead of Direct Credit / Credit through NEFT system into your bank account,please (�) here

Sole / First Unit Holder / Guardian Second Unit Holder Third Unit Holder

SIGNATURE(S)

C. UNIT HOLDER(S) SIGNATURE(S)

I / We have read and understood the terms and conditions given below for registration of / changes to multiple bank accounts. I / We understand that my / our ApplicationForm is liable to be rejected if it is not filled as per the directions provided herein and in case the correct and complete supporting documents are not provided by me/us.I / We hereby declare that the particulars given above are correct and express my / our willingness to receive credit of dividend / redemption proceeds through the mode indicatedabove. If the transaction is delayed or not effected at all for reasons of incomplete / incorrect information, I / We would not hold JPMorgan Mutual Fund / JPMorgan MutualFund India Private Limited / JPMorgan Asset Management India Private Limited, its Registrars and other service providers responsible. I / We shall also inform JPMorgan MutualFund India Private Limited / JPMorgan Asset Management India Private Limited about any changes in my / our bank account.

APPLICATION FORM FOR REGISTRATION OF /ADDITIONS TO MULTIPLE BANK ACCOUNTSPlease read documentation requirements and Terms & Conditions overleaf

Note: All future communications in connection with this application should be addressed to the nearest JPMorgan Customer Service Centre, quoting full name of the Unit Holder,the Folio number, date and the place of the Customer Service Centre where the application was lodged.

Asset Management Company : JPMorgan Asset Management India Private LimitedJ. P. Morgan Tower, Off C.S.T. Road, Kalina, Santacruz (East), Mumbai - 400 098. Tel.: 022 - 6157 3000 Fax : 022 - 6157 4170E-mail : [email protected] Toll free no. : 1-800-22-5763 (JPMF)

Registrar & Transfer Agent : Deutsche Investor Services Private Limited,Nirlon Knowledge Park, 4th Floor, Block 1, Western Express Highway, Goregaon (East), Mumbai - 400 063, Maharashtra - India.Tel. : 022 - 6670 6900 E-mail : [email protected]


DOCUMENTS REQUIRED

Any of the following documents are valid supporting documents for registration of a bank account:

(1) A cancelled original cheque leaf (where the account number and first Unit Holder name is printed on the face of the cheque). Unit Holders should without fail cancel thecheque and write ‘Cancelled’ on the face of it to prevent any possible misuse.

(2) A letter from the bank on its letterhead certifying that the Unit Holder maintains an account with the bank, bank account information – bank account number, bank branch,account type, the MICR code of the branch & IFSC Code (where available). The letter should be certified by the bank manager with his / her full signature, name, employeecode, bank seal and contact number.

(3) A copy of the bank pass book or a statement of bank account having the name and address of the account holder and account number. The copy should be certified bybank manager with his / her full signature, name, employee code, bank seal and contact number.

(4) Unit Holders may also bring a copy of any of the documents mentioned in (3) above along with the original documents to the JPMorgan Customer Service Centre / OfficialPoints of Acceptance of JPMorgan Mutual Fund India Private Limited. The copy of such documents will be verified with the original documents to the satisfaction of JPMorganMutual Fund India Private Limited / JPMorgan Asset Management India Private Limited. The original documents will be returned across the counter to the Unit Holderafter due verification.

Request Type Supporting Documents to be submitted for

Request for registration for multiple bank accounts (1) Any one of the existing bank accounts in the folio(2) All the bank accounts mentioned in the Application Form for registration of

multiple bank accounts

Request for addition of bank account(s) in a folio in which multiple (1) Any one of the existing bank accounts in the foliobank accounts are already registered (2) The new bank account(s) which has to be added to the list of bank accounts

registered in the folio

1. JPMorgan Mutual Fund India Private Limited offers a facility to investors forregistering up to 4 bank accounts in a folio for receiving redemption proceeds(hereinafter referred to as “the facility”). Investors have to specify any one bankas “Default” The bank account details mentioned in ‘DEFAULT BANK ACCOUNT’section in this form will be considered as “Default”.

2. Proceeds of dividends, if any, will be processed into the “Default” bank accountonly.

3. Proceeds of redemptions, if any, will be processed into the “Default” bank accountin any of the following scenarios:

a. The Unit Holder(s) does not specify details of any bank account in theredemption request for receiving redemption proceeds

b. The Unit Holder(s) specifies the bank account details of the “Default” bankaccount in the redemption request

c. The Unit Holder(s) specifies the details of a bank account in the redemptionrequest which is not registered in the folio.

4. The facility is not available to investors investing through distributors who haveregistered with JPMorgan Mutual Fund India Private Limited for sendingtransaction details of their investors as electronic feeds i.e. channel partners.

5. When Unit Holder(s) opt for registering multiple bank accounts for the first timein their folio, the details of the bank account currently registered for receipt ofredemption / dividend proceeds will be substituted.

6. If multiple bank accounts are already registered for a folio and the Unit Holder(s)provides a new Application Form for registering multiple bank accounts details,the bank accounts currently registered for receipt of redemption / dividendproceeds will be substituted.

7. The facility will be activated in the folio within 10 calendar days from the receiptof a duly completed Application Form.

8. In case of folios that have availed for the facility, any addition / change / deletionin the registered bank accounts will be completed within 10 calendar days fromthe receipt of the Application Form for the same. The requests for addition /change in the registered bank account(s) will only be received by way ofApplication Forms available for this purpose. Requests received on a plain paperare liable to be rejected. However, requests for deletion of the registered bankaccount(s) may be submitted on a plain paper.

9. A letter confirming the registration / addition / change / deletion of multiple bankaccounts will be dispatched within 2 weeks of the receipt of the Application Form.Unit Holder(s) should preserve this letter for their reference since bank accountdetails are masked (i.e. partially displayed) on the account statement.

TERMS AND CONDITIONS

10. In case 2 or 3 bank accounts have been registered for a folio, Unit Holder(s) canprovide a new bank account for redemption along with the redemption request.Valid supporting documents for anyone of the bank accounts already registeredfor the folio as well as the new bank account sought to be added for the folioshould be submitted with the redemption request. In case the supportingdocuments provided by Unit Holder(s) are incomplete / incorrect, the redemptionproceeds will be credited into the bank account registered as “Default” in the folio.The new bank account will be added to the registered bank accounts in the folio.In case 4 bank accounts are already registered for a folio, Unit Holder(s) cannotprovide a new bank account for redemption along with the redemption request

11. In case of inability to process the request for registration / addition / change /deletion of multiple bank accounts, an intimation will be sent to Unit Holder(s).

12. Unit Holder(s) can substitute one or more bank accounts registered in the folio bysubmitting a separate form available for the purpose.

13. Unit Holder(s) may submit a written request for deletion of one or more bankaccounts registered in the folio. No supporting documents should be submittedalong with the request.

14. If a request by the Unit Holder(s) for deletion of bank account(s) reduces the totalnumber of bank accounts in the folio to One, the request will be considered foropting out of the facility.

15. If a request by the Unit Holder(s) for deletion of bank account(s) reduces the totalnumber of bank accounts in the folio to Zero, the request will be rejected.

16. The bank account specified as “Default” account cannot be deleted. lt can only besubstituted with another bank account.

17. The facility of receiving direct credit of redemption / dividend proceeds into theaccount is available with ABN AMRO NV, Axis Bank, Citibank NA, Deutsche Bank,HDFC Bank. HSBC, ICICI Bank, IDBI Bank, Kotak Mahindra Bank and StandardChartered Bank. This list of banks is subject to change from time to time.

18. Unit Holder(s) cannot provide the bank account(s) of any other person to receivethe redemption / dividend proceeds in their folio. Unit Holder(s) have to submitvalid supporting documents for each bank account that they wish to register forreceiving redemption / dividend proceeds in the folio. These documents shouldconclusively prove that the bank accounts provided pertain to the sole / first UnitHolder.

19. JPMorgan Mutual Fund / JPMorgan Mutual Fund India Private Limited / JPMorganAsset Management India Private Limited shall not be held liable for any lossarising to the Unit Holder(s) due to the credit of the redemption proceeds into anyof the bank accounts registered with us for the aforesaid folio.

cov. (iii)

cov. (iv)

04/1

1

INVESTOR SERVICE CENTRES

JPMORGAN ASSET MANAGEMENT INDIA PRIVATE LIMITED :Ahmedabad : 302, Megha House, Near Law Garden, Mithakhali Six Road, Navrangpura, Ahmedabad - 380 006. Tel.: 079-66131701 Bengaluru : 501,5th Floor, Prestige Centre Point, 7, Cunningham Road, Bengaluru - 560 052. Tel.: 080-66510051 Chennai : T V Loganathan Towers, 2nd Floor, No. 95, V.M. Street, R.K. Salai, Mylapore, Chennai - 600 004. Tel.: 044-32427949 Kolkata : 22, Camac Street, Block B, 5th Floor, Kolkata - 700 016.Tel.: 033-64590182 Mumbai : J. P. Morgan Tower, Off C.S.T. Road, Kalina, Santacruz (East), Mumbai - 400 098. Tel.: 022-6157 3000 New Delhi : 715-716,7th Floor, Narain Manzil, 23, Barakhamba Road, New Delhi - 110 001. Tel.: 011-66130805 / 802 / 803 Pune : Office No. 301, Nandadeep, Above OdysseyShop, F.C. Rd., Shivajinagar, Pune - 411 005. Tel.: 020-66081000.

DEUTSCHE INVESTOR SERVICES PRIVATE LIMITED :Investor Service Centres :The Registrar will be the official point of acceptance for electronic transactions received from specified banks, financial institutions, distribution channels,etc. (mobilised on behalf of their clients) with whom the AMC has entered / may enter into specific arrangements for purchase / sale / switch of Units.

Ahmedabad : M-Square Building, First Floor, Swastik Char Rasta, B/H City Centre, Opp Om Complex, Off CG Road, Ahmedabad 380009 Bangalore :Stock Exchange Towers, No# 51, 1st Cross, J C Road, Bangalore 560 027 Bareilly : 320, Akash Floors, City Station Road, Civil Line, Bareilly 243001Bhavnagar : Sterling Point, 2nd floor (220-221), Waghawadi Road, Bhavnagar 364002 Bhubaneswar : Metro House, Shop No.5, A 410, Vanivihar,Bhubaneshwar 751004 Chandigarh : SCO 154-155, Sector 17 C, 2nd Floor, Deepak Towers, Chandigarh, (U.T) 160017 Chennai : New # 88 Old # 20, 3rdFloor, Janaki Sardar Patel Road, Adyar, Chennai 600020 Kochi : 39/ 4967, USNAZ Towers, 3rd Floor, Medical Trust Hospital Jn, Pallimukku,M. G. Road, Kochi 682016 Coimbatore : No.424-E, 2nd Floor, Red Rose Towers, D B Road, R S Puram, Coimbatore 641002 Cuttack : 1st Floor, BrajrajBhavan, Badambari Link Road, Opposite LIC Colony, Cuttack 753013, Orissa Dehradun : Shop No.25, Ground Floor, Radha Palace Shopping Complex,78 Rajput Road, Dehradun 248001 Erode : No.849, N.S.T.V. Building, 1st Floor, Opp Shivranji Hotel, Brough Road, Erode 638001 Gurgaon : Upper GroundFloor, Shop No. 114, A.K.D Tower, Sector- 14 , Gurgaon 122001 Hyderabad : 6-3-1093/UG-3 (A & B) Vintage Boulevard, Raj Bhavan Road, Somajiguda,Hydrebad-500 082 Jaipur : Office No. 605, 6th Floor, Green House, Ashok Marg, C-Scheme, Jaipur 302001 Jamnagar : 106, Madhav Complex, P. N. Marg,Opp. D.K.V. College, Jamnagar 361004 Jamshedpur : Bharat Business Center, Ground Floor, Ram Mandir Area, Beside Mithiala Motors, Bistupur, Jamshedpur831001 Kanpur : Office No. 217, 2nd Floor, Kan Chambers, 14/113, Civil Lines, Kanpur 208001 Kolhapur : Shop No. 84, Gemstone Rao Bahadur VichareComplex, 517/2, New Shahupuri Near S T Stand, Kolhapur 416001 Kolkata : Central Plaza , Flat 702, 2/6, Surat Bose Road, Kolkata 700020 Lucknow : F-1-C, AF Tower, 1st Floor, Opp. Civil Hospital, Park Road, Lucknow 226001 Mumbai : Prospect Chambers Shop No 315, Ground Floor, Opp Thomas Cook /HSBC Bank, D N Road, Fort, Mumbai 400001 Nagpur : Shop No.10, Prathiba Sankul, North Ambazari Road, Nagpur 440010 Nasik : Suyojit Chambers,Ground Floor, G-2, Trumbak Naka, Near CBS, Nasik 422002 New Delhi : 910/911 A, 9th Floor, Narain Manzil, Barakamba Road, New Delhi 110001Panipat : N K Towers, 2nd Floor, Near IB College, G.T Road, Panipat 132103 Pune : 675 Ananth Chambers, Shop no 2, Gr Floor, Kumthekar Road, SadashevPeth, Pune 411030 Rajamundry : 36-7-8, 1st Floor, SBI Complex, Stadium Road, Innespet, Rajamundry 533101 Rajkot : L-1, Puja Commercial Complex,Harihar Chowk, Near GPO, Panchnath Plot, Rajkot 360001 Surat : Office No-213, Jolly Plaza, 2nd Floor, Athwa Gate, Opp. Athwa Gate Police Station, Surat395001 Udaipur : 406, 3rd Floor, 4-D, Daulat Chambers , Sardarpura, Udaipur 313001 Vadodara : 301, Gokulesh - II, Opp : Ivory Terrece, R C Dutt Road,Alkapuri, Vadodra 390005. Vijayawada : Beside Big C Mobile Show room, 1st floor, Labipet, M G Road, Vijayawada 10 Warangal : Shop No. C-40, 1stFloor, Green Square, Opposite Public Garden, Hanamkonda, Warrangal 506001.

Transaction Acceptance Points :Mumbai (Borivali) : Patel Shopping Centre, Shop No. 25, Ground Floor, Chandawarkar Lane, Borivali (W), Mumbai 400092 Mumbai (Ghatkopar) : 2-BGround Floor, Kailash Plaza Building, Behind Raymond Showroom, Vallabh Baug Lane, Ghatkopar (East), Mumbai 400 077 Mumbai (Mulund) : Office No.111, Sai Arcade, N.S.B Road, Mulund West, Mumbai 400080 Agra : Shop No. 209, Block No. 29, F1, First Floor, Opp. CDO, Sanjay Place, Agra 282002Allahabad : Shyam Bhavan, Shop No. 1, 30/22- A/1, M G Road, Civil Lines, Allahabad 211001 Amravati : Shop No. 108, 1st Floor, Vidharbha Plaza, I/F ofGulshan Tower, Nazul Plot No. 1/12, Amravati Amritsar : Plot No. 77, Room No. 1, Mani Market, 2nd Floor, Railway Link Road, Amritsar 143001Aurangabad : Plot No. 3, 1st Floor, Sahakar Bank Colony, New Osmanpura, Opp. BSNL Office, Aurangabad 431001 Belgaum : Block No. 3, Ground Floor,79/A, Opp. Purandar Bhavan, Somwar Peth, Tilakwadi, Belgaum 590006 Bhopal : Sangam Tower, Plot No. 8, 1st Floor, M P Nagar, Zone-1, Bhopal 462011Calicut : Office No. 4/269, Ground Floor, A1, Rashy Apartments, Near 5th Railway Gate, Vellayil, Calicut 673032 Durgapur : P-42, 1st Floor, Recol Park,Durgapur 713216 Goa (Panjim) : Shop No. 8, Casa Nina, Plot No. D-5 & D-10, La Campala Residency Colony, Miramar, Panaji, Goa Gorakhpur : LGF-39,Mangalam Tower, Civil Lines 13, Golghar, Gorakhpur 273001 Guwahati : House No. 33, Chowdhury Bhawan, 1st Floor, Borthakur Mill Road, Ulubari,Guwahati 781007 Gwalior : Shop No. 29, 1st Floor, Vindhyachal Complex, 38-City Centre, Near Airtel Office, Gwalior 474011 Hubli : Karnatak Chambersof Commerce Bldg, 2nd Floor, J C Nagar, Hubli 580020 Indore : Shop No. 9, Upper Ground Floor, City Plaza 564 - M G Road, Indore Jallandhar : EH -198,Civil lines, office No. 311, 03rd Floor, Lotus Tower, Jalandhar 144003 Jodhpur : Shop No. 6, Ground Floor, Adheshwar Tower, Chopasani Road, Jodhpur -342001 Ludhiana : Shop No. 33, Lower Ground Floor, New Shopping Center, Gumhar Mandi, Ludhiana Madurai : Office No. L-85, Basement, AR Plaza,16-17 North Veli Street, Madurai 625009 Mangalore : 3rd Floor, Rama Bhavan Complex, Kodialbail, Mangalore 575003 Moradabad : 1st Floor, Sai SadanCommercial Complex, Adjouring to Stock Holding Corporation of India Ltd, Jail Road, Moradabad, 244001 Mysore : Vaishak Shares Ltd, C-282, 1st Floor,Laxmivilas Road, Near Jaganmohan Palace, Mysore 570024 Nellore : Vasant Vihar, Door No. 16/2/227 A&B Gandhi Nagar, 1st Floor, Near Kaizen Towers(ACN Building), Pogathota, Nellore 524001 Patiala : Showroom No. SCO29, New Leela Bhawan, 3rd Floor, Patiala Patna : Shop No. 2, Ground Floor,Holding No. 471/251, Circle-249, Ward No. 23, PS-Shrikrishnapuri, Patna Ranchi : Shop No. G08, Ground Floor, Yamuna Apartment, Anantpur, Ranchi834001 Rourkela : Deutsche Investor Service, 2nd Floor, Khata No. 492/147, Rourkela Town Unit No. 35 Rourkela, Ps- Plantsite, Dist-Sundargarh, OrissaSalem : Shop No. 9 & 10, 1st Floor, Raja Arcade, Opp. RBS Bank, Sree Ram Nagar, Alagapuram, Salem 636016 Siliguri : Shop No. 5, 3rd Floor, ShikhadeepBuilding, Sevoke Road, Siliguri 734001 Trichy : 60/2 Sastri Road,1st floor, Thillainagar, Trichy 620017 Trivandrum : Shop No. TC-15/49(4), 3rd Floor,Saran Chambers, Vellayambalam, Trivandrum 695001 Valsad : Office No. 303, 3rd Floor, Trade Centre, Near Hotel Adina Palace, Station Road, Valsad396001 Varanasi : Unit No. 16, Kuber Complex, 3rd Floor, D-58/2, Rath Yatra Crossing, Varanasi 221010 Vizag : Shop No. 1, Ground Floor, RednamRegency, 2nd Lane, Dwaraka Nagar, Vizag 530016.

The above list is subject to change from time to time. The investors are advised to contact the Investor Service Centre / office of the AMC for exactlocation and contact numbers of the Collecting Bankers / AMC offices / ISCs.

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