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TMI BlogCircular on Infrastructure Debt FundX X X X Extracts X X X X X X X X Extracts X X X X ..... cement. 3. In terms of regulation 49-OA of the SEBI (Mutual Funds) Regulations, 1996, the Placement Memorandum shall be filed with SEBI as per the format prescribed at Annexure. 4. The Asset Management Companies shall ensure that the Placement Memorandum is uploaded on their respective websites after allotment of units, and on the website of such recognized Stock Exchange, where it is proposed to be listed, at the time of listing of the scheme. FIIs which are long term investors 5. The universe of strategic investors in the IDF has been expanded to include, inter alia, FIIs registered with SEBI which are long term investors subject to their existing investment limits. With reference to regulation 49L of the SEBI (Mutual Funds) Regulations, 1996 the following categories of FIIs are designated as long term investors only for the purpose of IDF: a. Foreign Central Banks b. Governmental Agencies c. Sovereign Wealth Funds d. International/Multilateral Organizations/ Agencies e. Insurance Funds f. Pension Funds Investments by the IDF scheme 6. With reference to regulation 49P (1) of the SEBI (Mutual Funds) Regulations, 1996, it may be noted that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ormation in the Placement Memorandum in simple language and in a clear, concise and easily understandable manner. The scheme shall not have a name or title which may be deceptive or misleading. The Scheme s name should be consistent with its statement of investment policy. TABLE OF CONTENTS HIGHLIGHTS/SUMMARY OF THE SCHEME This section shall include the following: Investment objective Liquidity Benchmark Transparency/NAV Disclosure Minimum Application Amount I. INTRODUCTION A. RISK FACTORS Standard Risk Factors as per Scheme Information Document Format: Scheme Specific Risk Factors: Risk associated with investment in the Infrastructure Sector Risk associated with investment in Infrastructure Debt Instruments Risk associated with investment in Infrastructure Projects Risk associated with investing in Equities Risk associated with investing in Bonds Risks associated with Investing in Bank Deposits Risks associated with Investing in Convertibles including mezzanine financing instruments Risks associated with investing in Securitized Debt Risks associated with investing in unrated/be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the launching of the scheme as also the guidelines, instructions, etc., issued by the Government and any other competent authority in this behalf, have been duly complied with. (iii)The disclosures made in the Placement Memorandum are true, fair and adequate to enable the investors to make a well informed decision regarding investment in the proposed scheme. (iv) The intermediaries named in the Placement Memorandum and Statement of Additional Information are registered with SEBI and their registration is valid, as on date. II. INFORMATION ABOUT THE SCHEME A. TYPE OF THE SCHEME (close ended /interval) B. WHAT IS THE INVESTMENT OBJECTIVE OF THE SCHEME? C. HOW WILL THE SCHEME ALLOCATE ITS ASSETS? The asset allocation will be as follows: Instrument Indicative Allocation Risk profile Minimum Maximum Debt securities or securitized debt instruments of infrastructure companies or projects or special purpose vehicles which are created for the purpose of facilitating or promoting investment in infrastructure or bank loans in respect of completed and r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ven an option for a period of 30 days to exit at the prevailing Net Asset Value without any exit load. G. BENCHMARK AND ITS JUSTIFICATION H. WHO MANAGES THE SCHEME? Name, age, qualification and experience in the infrastructure sector of the fund manager to the scheme to be disclosed. The experience of the fund manager should include last 10 years experience and also the name of other schemes under his /her management. I. WHAT ARE THE INVESTMENT RESTRICTIONS? All the investment restrictions as contained in Chapter VI-B (Infrastructure Debt Fund Schemes) to SEBI (Mutual Funds) Regulations, 1996 and applicable restrictions of the Seventh Schedule should be incorporated. Further in case the fund follows any internal norms vis- -vis limiting exposure to a particular security or sector, etc. apart from the aforementioned investment restrictions the same needs to be disclosed. J. HOW HAS THE SCHEME PERFORMED? K. Indicative Portfolio based on type of assets Indicative % of investment to be made in various securities to be mentioned below with the ratings mentioned against each type of instrument. All investments shall be based on the rating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... scheme. Restrictions, if any, on the right to freely retain or dispose of units being offered. Accounts Statements During subscription, and subsequent capital calls Consolidated Account Statement Annual Account Statement Transaction Charges *Allotment shall be made within five working days of the closure of the Placement Period. B. PERIODIC DISCLOSURES Net Asset Value This is the value per unit of the scheme on a particular day. You can ascertain the value of your investments by multiplying the NAV with your unit balance. Portfolio disclosures Half Yearly Results Annual Report Taxation The information is provided for general information only. However, in view of the individual nature of the implications, each investor is advised to consult his or her own tax advisors/authorised dealers with respect to the specific amount of tax and other implications arising out of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Audit fees Custodian fees Costs related to investor communication Costs of fund transfer from location to location Costs of providing account statements and dividend/redemption cheques and warrants Insurance premium paid by the fund Winding up costs for terminating a fund or a scheme Cost of statutory advertisements Listing fees Investor Awareness and Education Initiatives# Such other costs as may be approved by the Board * Total Recurring Expenses (* To be specified as pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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