SCHEME INFORMATION DOCUMENT

SECTION I

Mirae Asset ELSS Tax Saver Fund

(formerly known as Mirae Asset Tax Saver Fund)
An open-ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit

Continuous Offer for Units at the NAV based prices.

Name of Mutual Fund: Mirae Asset Mutual Fund

Name of Asset Management Company: Mirae Asset Investment Managers (India) Private Limited
CIN: U65990MH2019PTC324625

Name of Trustee Company: Mirae Asset Trustee Company Private Limited

CIN: U65191MH2007FTC170231

Registered & Corporate Office:

Unit No.606, Windsor Building, Off. C.S.T Road, Kalina, Santacruz (East), Mumbai – 400098
Tel. No.: 022-678 00 300 Fax No.: 022- 6725 3940 - 47
Website: www.miraeassetmf.co.in E-mail: miraeasset@miraeassetmf.co.in

The particulars of the Scheme have been prepared in accordance with Securities and Exchange Board of India
(Mutual Funds) Regulations, 1996 (hereinafter referred to as SEBI (MF) Regulations) as amended till date and
filed with SEBI, along with Due Diligence Certificate from the Asset Management Company. The units being
offered for public subscription have not been approved or recommended by SEBI nor has SEBI certified the
accuracy or adequacy of the Scheme Information Document.
The Scheme Information Document sets forth concisely the information about Mirae Asset ELSS Tax Saver
Fund that a prospective investor ought to know before investing. The investor should also ascertain about any
further changes to this SID after the date of this Document from the Mutual Fund/ Investor Service Centers/
Website/ Distributors or Brokers.
The Investors are advised to refer to the Statement of Additional Information (SAI) for details of Mirae Asset
Mutual Fund, standard risk factors, special considerations, tax and legal issues and general information on
www.miraeassetmf.co.in
SAI is incorporated by reference (is legally a part of the SID). For a free copy of the current SAI, please contact
your nearest Investor Service Centre or log on to our website.
The SID (section I & II) should be read in conjunction with SAI and not in isolation.
This SID is dated June 29, 2024

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 EQUITY LINKED SAVINGS SCHEME, 2005
Notification No. 226/2005, dated 3-11-2005

In exercise of the powers conferred by clause (xiii) of sub-sec on (2) of sec on 80C of the Income-tax
Act, 1961 (43 of 1961), the Central Government hereby makes the following scheme, namely:

1. Short title and commencement:

(1) This scheme may be called the Equity Linked Savings Scheme, 2005.
(2) It shall come into force on the date of its publication in the Official Gazette.

2. Definitions:
In this scheme, unless the context otherwise requires:
(a) “Act” means the Income-tax Act, 1961 (43 of 1961)
(b) “Assessee” means:
(i) an individual; or
(ii) a Hindu undivided family; or
(iii) an association of persons or a body of individuals consisting, in either case, only of husband and
wife governed by the system of community of property in force in the State of Goa and Union
Territories of Dadra and Nagar Haveli and Daman and Diu by whom, or on whose behalf, investment
is made;
(c) “Investment” means an investment in Units of the Unit Trust or a Mutual Fund by an assessee under
a plan formulated in accordance with this scheme;
(d) “Mutual Fund” means any Mutual Fund specified under clause (23D) of section 10 of the Act;
(e) “Plan” means any plan formulated in accordance with this scheme;
(f) “Unit Trust” means the ‘Administrator’ referred to in clause (a) or the ‘specified company’ referred
to in clause (h) of section 2 of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002
(58 of 2002);
(g) “Year” means a year commencing from the date of allotment or holding of units, as the case may
be, in the plan;
(h) Words and expressions used herein and not defined shall have the meanings respectively, assigned
to them in the Income-tax Act.

3. Investment and Repurchase

(a) Amount to be invested in a plan of the Unit Trust or of a Mutual Fund shall be in multiples of Rs.
500 with a minimum of Rs. 500.
(b) The Unit Trust or a Mutual Fund shall allot the units in respect of all complete applications, made
in the form specified by that Trust or Fund, not later than on 31st March, every year.
(c) The plan shall be open for a minimum period of one month during the financial year 2005-06 and
a minimum period of three months during the subsequent years.
(d) Investment in the plan will have to be kept for a minimum period of three years from the date of
allotment of units. After the said period of three years, the assessee shall have the option to tender the
units to the Unit Trust or the Mutual Fund, for repurchase.
(e) In the event of the death of the assessee, the nominee or legal heir, as the case may be, shall be able
to withdraw the investment only after the completion of one year from the date of allotment of the
units to the assessee or any time thereafter.

4. Transferability
Units issued under the plan can be transferred, assigned or pledged after three years of its issue.

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5. Investment of Equity Linked Saving Funds
(a) The funds collected under a plan shall be invested in equities, cumulative convertible preference
shares and fully convertible debentures and bonds of companies. Investment may also be made in partly
convertible issues of debentures and bonds including those issued on rights basis subject to the condition
that, as far as possible, the non-convertible portion of the debentures so acquired or subscribed, shall
be disinvested within a period of twelve months.
(b) It shall be ensured that funds of a plan shall remain invested to the extent of at least eighty per cent
in securities specified in clause (a). The Unit Trust and Mutual Fund shall strive to invest their funds in
the manner stated above within a period of six months from the date of closure of the plan in every year.
In exceptional circumstances, this requirement may be dispensed with by the Unit Trust or the Fund, in
order that the interests of the assessee are protected.
(c) Pending investment of funds of a plan in the required manner, the Unit Trust and Mutual Fund may
invest the funds in short-term money market instruments or other liquid instruments or both. After three
years of the date of allotment of the units, the Unit Trust or Mutual Fund may hold up to twenty per
cent of net assets of the plan in short-term money market instruments and other liquid instruments to
enable them to redeem investment of those unit-holders who would seek to tender the units for
repurchase.

6. Repurchase price
(a) The Unit Trust and other Mutual Funds shall announce the repurchase price one year after the date
of allotment of the units and thereafter on a half-yearly basis.
(b) After a period of three years from the date of allotment of units, when the repurchase of units is to
commence, the Trust and the Mutual Fund shall announce a repurchase price every month or as
frequently as may be decided by them.
(c) In calculating the repurchase price, the Unit Trust and the Mutual Fund shall take into account the
unrealised appreciation in the value of the investment of the funds of a plan to the extent they deem fit
provided that it shall not be less than fifty per cent of such unrealised appreciation. While calculating
the repurchase price, the Unit Trust and Mutual Funds may deduct such sums as are appropriate to meet
management, selling and other expenses including realisation of assets and such sums shall not exceed
5% per annum of the average Net Asset Value of a plan.
(d) Repurchase of units will be at the repurchase price prevailing on the date the units are tendered for
repurchase.

7. Evidence of Investment or Repurchase

The investment made in any plan by an assessee will be acknowledged by the Unit Trust and Mutual
Fund by issue of certificate of investment or a statement of account as may be decided by them.

8. Termination of a Plan
(a) A plan operated by Unit Trust or a Mutual Fund would be terminated at the close of the 10th year
from the year in which the allotment of units is made under the plan.
(b) If ninety per cent or more of the units under any plan are repurchased before completion of ten
years, the Unit Trust and Mutual Fund may at their discretion, terminate that plan even before the
stipulated period of ten years; and redeem the outstanding units at the final repurchase price to be fixed
by them.

9. Open Ended Equity Linked Saving Plan

The Unit Trust or the Mutual Fund may at their discretion operate one Open Ended Equity Linked
Saving Plan with the prior approval of the Securities and Exchange Board of India established under
the Securities and Exchange Board of India Act, 1992 (15 of 1992).

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Notification: No. SO 1563(E), dated 3-11-2005, as amended by Notification No. 259/2005 [F.No.
142/39/2005-TPL], dated 13-12-2005.

Clarification One
The Equity Linked Savings Scheme, 2005 has been notified vide S.O. No. 1563(E), dated 3-11-2005.
The Central Board of Direct Taxes has clarified that investments made on or after 1st April, 2005, in
plans, which are in accordance with ELSS 1992 or ELSS 1992 as amended in 1998 are also eligible for
tax benefit under sec on 80C of the Income-tax Act, 1961.

Press release: Dated 11-11-2005

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 TABLE OF CONTENT
SECTION I ................................................................................................................................................... 1
Part I. HIGHLIGHTS/SUMMARY OF THE SCHEME ......................................................................... 7
DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY 11
Part II. INFORMATION ABOUT THE SCHEME ............................................................................. 12
A. HOW WILL THE SCHEME ALLOCATE ITS ASSETS? 12
B. WHERE WILL THE SCHEME INVEST? 14
C. WHAT ARE THE INVESTMENT STRATEGIES? 15
Policy for Investment decisions ......................................................................................................... 16
Portfolio Turnover Policy .................................................................................................................. 16
However, during volatile market conditions, the fund manager has the flexibility to churn the portfolio
actively to optimize returns keeping in mind the cost associated with it. ............................................ 17
D. HOW WILL THE SCHEME BENCHMARK ITS PERFORMANCE? 17
E. WHO MANAGES THE SCHEME? 18
F. HOW IS THE SCHEME DIFFERENT FROM EXISTING SCHEMES OF THE MUTUAL FUND?
18
G. HOW HAS THE SCHEME PERFORMED 19
H. ADDITIONAL SCHEME RELATED DISCLOSURES 20
Part III- OTHER DETAILS ..................................................................................................................... 21
A. COMPUTATION OF NAV 21
B. NEW FUND OFFER (NFO) EXPENSES 22
C. ANNUAL SCHEME RECURRING EXPENSES 22
D. LOAD STRUCTURE 25
Section II ..................................................................................................................................................... 26
I. Introduction 26
A. Definitions/interpretation 26
B. Risk factors 26
• 27
• C. RISK MITIGATION MEASURES 28
II. Information about the scheme: 30
A. Where will the scheme invest 30
Debt & Money Market Instruments: ............................................................................................... 30
B. What are the investment restrictions? 32
Investment Limitations and Restrictions ......................................................................................... 32
C. Fundamental Attributes 36
D. Other Scheme Specific Disclosures: 39

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III. Other Details ........................................................................................................................................ 51
A. Periodic Disclosures 51
B. Transparency/NAV Disclosure 54
C. Associate Transactions 55
D. Taxation 55
E. Rights of Unitholders 55
F. List of official points of acceptance 55
G. Penalties, Pending Litigation or Proceedings, Findings of Inspections or Investigations For Which
Action May Have Been Taken Or Is In The Process Of Being Taken By Any Regulatory Authority .... 55

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 Part I. HIGHLIGHTS/SUMMARY OF THE SCHEME

Sr. No. Title Description

I. Name of the Mirae Asset ELSS Tax Saver Fund

scheme
II. Category of the ELSS
Scheme
III. Scheme type An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit.

The Scheme has been prepared in accordance with the notifications dated November 3, 2005 and
December 13, 2005 issued by the Department of Economic affairs, Ministry of Finance, Government
of India. Eligible Investors in the Scheme (who are “Assesse” as per the ELSS Rules) are entitled to
deductions of the amount invested in Units of the Scheme to such extent (presently Rs. 1,50,000/- &
which may change from time to time, subject to notifications issued in this behalf) under Section 80C
of the Income Tax Act, 1961 and subject to such conditions as may be notified from time to time. The
Scheme is an Equity Linked Savings Scheme and intends to meet the requirements of any other
notifications/ regulations that may be prescribed by the Government/ regulatory bodies from time to
time
IV. Scheme code MIRA/O/E/ELS/15/10/0007

V. Investment The investment objective of the scheme is to generate long-term capital appreciation from a
objective diversified portfolio of predominantly equity and equity related instruments. The Scheme does
not guarantee or assure any returns.

VI. Liquidity details The Scheme will offer units for purchases/switch-ins and redemptions/switch-outs at NAV based
prices on all business days on an ongoing basis.

VII. Benchmark The performance of the scheme will be benchmarked to the performance of the Nifty 500 (TRI)
(Total Return for Tier 1 Benchmark & Nifty 200 (TRI) for Tier 2 Benchmark.
Index)
Rationale for adoption of benchmark:

The Fund’s strategy is to invest in a diversified portfolio of companies across sectors. The Fund
will also have the flexibility to invest in companies across the market capitalization spectrum
and as such, the constituents of the Nifty 200 Index reasonably represent the portfolio of the
scheme. The above benchmarks are in accordance with clause 9.1 of SEBI Master Circular date
May 19,2 023 on ‘Guiding Principles for bringing uniformity in Benchmarks of Mutual Fund
Schemes’.

The Trustees may change the benchmark in future if a benchmark better suited to the investment
objective of the Scheme is available.
VIII. NAV disclosure The AMC shall update the NAVs on the website of the Mutual Fund
https://www.miraeassetmf.co.in/ and on the website of Association of Mutual Funds in India -
AMFI (www.amfiindia.com) by 11.00 p.m. on every Business Day.

Further Details in Section II.

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IX. Applicable Timeline for:
timelines • Dispatch of redemption proceeds : 3 working days from the date of redemption
• Dispatch of IDCW (if applicable) etc.: within 7 working days from the record date
X. Plans and The Scheme have Regular Plan and Direct Plan** with a common portfolio and separate NAVs.
Options Investors should indicate the Plan for which the subscription is made by indicating the choice in the
Plans/Options and application form.
sub options under
the Scheme Each of the above Regular and Direct Plan under the scheme will have the following Options / Sub-
options: (1) Growth Option and (2) Income Distribution cum Capital Withdrawal (IDCW) Option.
The IDCW Option shall have Reinvestment of IDCW and Payout of IDCW Option.

The default option for the unitholders will be Regular Plan - Growth Option if he is routing his
investments through a distributor and Direct Plan – Growth option if he is a direct investor.

If the unit holders select IDCW option but does not specify the sub-option then the default sub-option
shall be Reinvestment of IDCW.

Amounts can be distributed out of investors capital (Equalization Reserve), which is part of sale price
that represents realized gains.

Investors subscribing under Direct Plan of the Scheme will have to indicate “Direct Plan” against the
Scheme name in the application form i.e. “Mirae Asset ELSS Tax Saver Fund- Direct Plan”.

Guidelines for Processing of transactions received under Regular Plan with invalid ARN

In accordance with AMFI circular no. 135/BP/ 111 /2023-24 dated February 2, 2024, transactions
received in Regular Plan with Invalid ARN shall be processed in Direct Plan of the same Scheme
(even if reported in Regular Plan), applying the below logic:

Regular
SUB Execution
Plan /
Transaction Primary ARN distributor EUIN* Only
Direct
Type ARN Mentioned
Plan
Valid Invalid Empanelled Valid Invalid Valid Yes
Lump Sum/ Y Y Y Regular
Registration Y N Not applicable Direct
Y Y N.A. N.A. N.A. N Regular*
Y Y Y Y Regular
Y Direct
Y Y Y Y Regular
Y Y Y Direct
Y Not applicable Regular
Trigger
Y Not applicable Direct

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 The AMC reserves the right to introduce a new option / investment Plan at a later date, subject to the
SEBI (MF) Regulations. The AMC also reserves the right to discontinue / withdraw any option /
investment plan, if deemed fit, after taking approval of the Board of Directors of AMC and Trustee.

**DIRECT PLAN: Direct Plan is only for investors who purchase /subscribe Units in a Scheme
directly with the Mutual Fund or through the stock exchange and is not available for investors who
route their investments through a Distributor.

For detailed disclosure on default plans and options, kindly refer SAI.
XI. Load Structure NIL

XII. Minimum Investors can invest under the Scheme with a minimum investment of Rs.500/- and in multiples of
Application Rs. 500/- thereafter.
Amount/switch in
The Minimum Application shall not be applicable to the mandatory investments made in the
Scheme pursuant to the provisions of clause 6.9 and 6.10 of SEBI Master Circular dated May 19,
2023, as amended from time to time.
XIII. Minimum For subsequent additional purchases the investor can invest with the minimum amount of
Additional Rs.500/- and in multiples of Rs. 500/- thereafter.
Purchase Amount
XIV. Minimum The minimum redemption/switch out amount shall be ‘any amount’ or ‘any number of units’ as
Redemption/switch requested by the investor at the time of redemption.
out amount
XVII. Segregated The Scheme has the provision to segregate a portfolio comprising of debt or money market
portfolio/side instrument affected by a credit event.
pocketing
disclosure For Details, kindly refer SAI
XVIII Swing pricing NA
disclosure
XIX. Stock Not applicable
lending/short
selling
XX. How to Apply and Investors intending to trade in Units of the Schemes, through the exchange platform will be
other details required to provide demat account details in the application form.

Details in Section II.

XXI. Investor services Contact Details for general service requests and complaint resolution:

Mr. Chaitanya Chaubal

Mirae Asset Investment Managers (India) Pvt. Ltd.
606, 6th Floor, Windsor Bldg, Off CST Road, Kalina, Santacruz (E), Mumbai - 400 098.
Telephone Nos.: 6780 0300
e-mail: customercare@miraeasset.com

Investors may contact any of the ISCs or the AMC by calling the investor line of the
AMC at "1800 2090 777" or visit the website at www.miraeassetmf.co.in for complete
details.

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XXIII Specific attribute Lock-in period – Redemption of Units can be made only after a period of three years (lock-in
of the scheme period) from the date of allotment of Units proposed to be redeemed as prescribed in the ELSS
(such as lock in, regulations.
duration in case
of target maturity The Trustee reserves the right to change the lock-in period prospectively from time to time, in
scheme/close the event of amendment(s) to the ELSS regulations with respect to the lock-in period
ended schemes)
(as applicable)
XXIV Special product The following facilities are available under the Scheme:
/facility available • Systematic Investment Plan
on ongoing basis • Top-up facility under Systematic Investment Plan (SIP)
• SIP Pause facility
• SIP Modification Facility
• Multi-SIP Facility
• One Time Mandate (OTM) Facility
• Systematic Transfer Plan
• Systematic Withdrawal Plan
• Flexi STP (Flexible STP) (erstwhile Variable Transfer Plan)
• C- SIP (Corporate SIP) (erstwhile Group Investment Plan)
For further details of above special products / facilities, kindly refer SAI.
XXV. Weblink A weblink for Daily TER and TER for last 6 months, Daily TER :
https://www.miraeassetmf.co.in/downloads/statutory-disclosure/total-expense-ratio

A weblink for scheme factsheet: https://www.miraeassetmf.co.in/downloads/factsheet

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DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY

It is confirmed that:

(i) The Scheme Information Document submitted to SEBI is in accordance with the SEBI
(Mutual Funds) Regulations, 1996 and the guidelines and directives issued by SEBI from
time to time.
(ii) All legal requirements connected with 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 Scheme Information Document are true, fair and adequate to
enable the investors to make a well informed decision regarding investment in the Scheme.
(iv) The intermediaries named in the Scheme Information Document and Statement of Additional
Information are registered with SEBI and their registration is valid, as on date.
(v) The contents of the Scheme Information Document including figures, data, yields etc. have
been checked and are factually correct
(vi) A confirmation that the AMC has complied with the compliance checklist applicable for
Scheme Information Documents and other than cited deviations/ that there are no deviations
from the regulations
(vii) Notwithstanding anything contained in this Scheme Information Document, the provisions of
the SEBI (Mutual Funds) Regulations, 1996 and the guidelines there under shall be
applicable.
(viii) The Trustees have ensured that the Mirae Asset ELSS Tax Saver Fund approved by them is
a new product offered by Mirae Asset Mutual Fund and is not a minor modification of any
existing scheme/fund/product.

Sd/-
Date: June 29, 2024 Name: Rimmi Jain
Place: Mumbai Designation: Compliance Officer

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 Part II. INFORMATION ABOUT THE SCHEME

A. HOW WILL THE SCHEME ALLOCATE ITS ASSETS?

Under normal circumstances, the asset allocation will be as follows:

Types of Instruments Indicative allocation

(% of total assets)
Minimum Maximum
Equity and Equity Related Instruments* 80 100
Debt Instruments, Money Market Instruments, G-Secs,
0 20
Cash, CBLO, Reverse Repo, etc.
*Equity and Equity related instruments include convertible debentures, equity warrants, convertible
preference shares, etc.

The funds collected under a plan shall be invested in equities, cumulative convertible preference shares
and fully convertible debentures and bonds of companies. Investment may also be made in partly
convertible issues of debentures and bonds including those issued on rights basis subject to the condition
that, as far as possible, the non-convertible portion of the debentures so acquired or subscribed, shall
be disinvested within a period of 12 months.

The Scheme shall not invest in derivative instruments, securitized debt and shall not engage into stock
lending/short selling. All the investment shall be made subject to the guidelines which may be
prescribed by the various regulatory authorities, Board of Directors of the Asset Management Company
and Trustee Company.

In accordance with clause 12.24 of SEBI Master Circular dated May 19, 2023, the cumulative
investments in the Fund including investment in equity and equity related instruments, debt and money
market, if any, shall not exceed 100% of the net assets under management of the scheme.

The Scheme will not participate in short selling, securitized debt, equity linked debentures, repo/reverse
repo transactions of Corporate Debt Securities and shall not invest in foreign securities (including
ADG/GDR). The scheme does not intend to invest into any credit default swaps.

Debt securities include, but are not limited to, Debt securities of the Government of India, State and
Local Governments, Government Agencies, Statutory Bodies, Public Sector Undertakings, Public
Sector Banks or Private Sector Banks or any other Banks, Financial Institutions, Development Financial
Institutions, and Corporate Entities, collateralized debt securities or any other instruments as may be
prevailing and permissible under the Regulations from time to time).

The Debt Securities (including money market instruments) referred to above could be fixed rate or
floating rate, listed, unlisted, privately placed, among others, as permitted by regulation. The Scheme
may also invest in deposits of Scheduled Commercial Banks as permitted under Regulations /
Guidelines. The Investment Manager will invest only in those debt securities that are rated investment
grade by a domestic credit rating agency authorized to carry out such activity, such as CRISIL, ICRA,
CARE, FITCH, etc.

Pending deployment of funds of a Scheme in securities in terms of investment objectives of the Scheme
a mutual fund can invest the funds of the Scheme in short term deposits of scheduled commercial banks.

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The investment in these deposits shall be in accordance with clause 12.16 of SEBI Master Circular
dated May 19, 2023.

Further, the Scheme may, pending deployment of funds invest in units of money market/liquid schemes
of Mirae Asset Mutual Fund and/or any other mutual fund. Such investments will be within the limits
specified under SEBI (MF) Regulations. The AMC shall not charge any investment management fees
with respect to such investment.

Pending investment of funds of a plan in the required manner, the Mutual Fund may invest the funds in
short-term money market instruments or other liquid instruments or both. After three years of the date
of allotment of the units, the Mutual Fund may hold upto twenty per cent of net assets of the plan in
short-term money market instruments and other liquid instruments to enable them to redeem investment
of those unit holders who would seek to tender the units for repurchase.

In accordance with the Equity Linked Savings Scheme (ELSS) guidelines, investments in equity and
equity related instruments shall be to the extent of at least 80% of net assets of the scheme in equity and
equity related instruments as specified above. The Scheme will strive to invest its funds in the manner
stated above. However, in exceptional circumstances, this requirement may be dispensed with by the
Scheme in order that the interest of the investors is protected.

Indicative Table (Actual instrument/percentages may vary subject to applicable SEBI circulars)

Sl. no Type of Instrument Percentage of Circular references*

exposure
1. Securities Lending 0% Clause 12.11 of SEBI
Master Circular dated
May 19, 2023
2. Equity Derivatives 0% Clause 12.25 of SEBI
Master Circular dated
May 19, 2023
3. Equity Derivatives for non- 0% Clause 12.25 of SEBI
hedging purposes Master Circular dated
May 19, 2023
4. Securitized Debt 0% Clause 12.15 of SEBI
Master Circular dated
May 19, 2023
5. Repo in Corporate Debt 0% Clause 12.18 of SEBI
Securities Master Circular dated
May 19, 2023
6. Credit default swaps 0% Clause 12.28 of SEBI
Master Circular dated
May 19, 2023
7. foreign securities including 0% Clause 12.19 of SEBI
ADR/GDR/Foreign equity Master Circular dated
and overseas ETFs May 19, 2023

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 8. Short selling 0% Clause 12.11 of SEBI
Master Circular dated
May 19, 2023
9. Investment in instruments 0% Clause 12.2 of SEBI
with special features Master Circular dated
May 19, 2023
*SEBI circular references (wherever applicable) in support of exposure limits of different types of
asset classes in asset allocation shall be provided.

Change in asset allocation:

Subject to SEBI (MF) Regulations, the asset allocation pattern indicated above may change from
time to time, keeping in view market conditions, market opportunities, applicable regulations and
political and economic factors. It must be clearly understood that the percentages can vary
substantially depending upon the perception of the Investment Manager; the intention being at all
times to seek to protect the interests of the Unit holders. As per clause 1.14.1.2 of SEBI Master
Circular dated May 19, 2023, such changes in the investment pattern will be for short term and for
defensive consideration only. In the event of deviations, portfolio rebalancing will be carried out
within 30 calendar days in such cases.

In the event of deviation from mandated asset allocation mentioned above due to passive breaches,
the rebalancing will be carried out in 30 business days. Where the portfolio is not rebalanced within
30 business days, justification for the same including details of efforts taken to rebalance the
portfolio shall be placed before the Investment Committee and reasons for the same shall be recorded
in writing. The Investment Committee, if so desires, can extend the timelines up to sixty (60)
business days from the date of completion of mandated rebalancing period in accordance with clause
2.9 of SEBI Master Circular dated May 19, 2023. However, at all times the portfolio will adhere to
the overall investment objectives of the Scheme.

Investments other than in equity will be made for managing liquidity in the normal market
circumstances. The preferred instruments will be debt and money market instruments include
commercial papers, commercial bills, treasury bills, Government securities, CBLO or notice money,
certificate of deposit and any other like instruments as specified by Reserve Bank of India from time
to time.

Suspension of Purchase of Units and Right to limit redemption of Units:

Subject to the approval of the Boards of the AMC and of the Trustee, and subject also to necessary
communication of the same to SEBI, the determination of the NAV of the Units of the Scheme, and
consequently of the Purchase and/or switching of Units, may be temporarily suspended in certain
cases.

SEBI vide its clause 1.12 of SEBI Master Circular dated May 19, 2023 has laid down certain
requirements to be observed before imposing restriction on redemptions.

B. WHERE WILL THE SCHEME INVEST?

1. Equity and Equity Related Instruments

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 2. Debt & Money Market Instrument
Detailed definition and applicable regulations/guidelines for each instrument shall be included in
Section II.
C. WHAT ARE THE INVESTMENT STRATEGIES?

The Scheme will primarily invest in equity and equity related securities.

Equity:

For the equity portion, to the extent the fund invests in equity shares, the focus would be to build a
diversified portfolio of strong growth companies, reflecting our most attractive investment ideas, at all
points of time.

The fund manager may not have any bias towards particular theme or style in picking investment
opportunities. However, the fund manager does have the flexibility to follow a focused approach on the
investments.

The fund manager broadly analyses the macro economy, industry trends and business cycles. He will
invest in companies that benefit from macroeconomic, industry and sectoral trends (Top down Theme
Overlay) after doing bottom up analysis and due diligence, quality of management in terms of corporate
governance and commitment to minority shareholders etc.

The universe of stocks will comprise majorly of companies having a robust business
models, enjoying sustainable competitive advantages as compared to their competitors and have high
return ratios.

The Fund Manager will try to have a large base of stocks in the portfolio to avoid concentration risk
and liquidity risk. The Fund Managers will monitor the trading volumes in a particular stock before
investment to avoid liquidity risk.

The Scheme will also invest in debt securities and money market instruments.

• The credit quality of the portfolio will be maintained and monitored using in-house research
capabilities as well as inputs from external sources such as independent credit rating agencies.
• The investment team will primarily use a top down approach for taking interest rate view, sector
allocation along with a bottom up approach for security/instrument selection.
• The bottom up approach will assess the quality of security/instrument (including the financial
health of the issuer) as well as the liquidity of the security.
• Investments in debt instruments carry various risks such as interest rate risk, reinvestment risk,
credit risk and liquidity risk etc. Whilst such risks cannot be eliminated, they may be minimized
through diversification.

Risk is an inherent part of the investment function. Effective risk management is critical to fund
management for achieving financial soundness. Investments by the Scheme shall be made as per the
investment objective of the Scheme and provisions of SEBI (MF) Regulations. AMC has incorporated
adequate safeguards to manage risk in the portfolio construction process. Risk control would involve
managing risk in order to keep it in line with the investment objective of the Scheme. The risk control
process involves identifying & measuring the risk through various Risk Measurement Tools like but
not limited to calculating risk ratios, tracking error etc. The AMC has implemented Quantis as the Front

Page 15 of 56
Office and Settlement System (FOS). The system has incorporated all the investment restrictions as per
SEBI guidelines and “soft” warning alerts at appropriate levels for preemptive monitoring. The system
enables identifying & measuring the risk through various risk measurement tools like various risk ratios,
average duration and analyzes the same so as to act in a preventive manner.

The risk control measures for managing the debt portion of the scheme are:

1. Monitoring risk adjusted returns performance of the fund with respect to its peers and its
benchmark.

2. Tracking analysis of the fund on various risk parameters undertaken by independent fund research
/ rating agencies or analysts and take corrective measures if needed.

3. Credit analysis plays an important role at the time of purchase of bond and then at the time of
regular performance analysis. Our internal research anchors the credit analysis. Sources for credit
analysis include Capital Line, CRISIL, ICRA updates etc. Debt ratios, financials, cash flows are
analysed at regular intervals to take a call on the credit risk.

4. We define individual limits for G Sec, money market instruments, MIBOR linked debentures and
corporate bonds exposure, for diversification reasons.

The Scheme does not propose to underwrite issuances of securities of other issuers. There will be no
exposure to securitized debt securities in the portfolio.

Policy for Investment decisions

The investment policy of the AMC has been determined by the Investment Committee (“IC”) which
has been ratified by the Boards of the AMC and Trustee. At the strategic level, the broad investment
philosophy of the AMC and the authorized exposure limits are spelt out in the Investment Policy of the
AMC. During trading hours, the Fund Managers have the discretion to take investment decisions for
the Scheme within the limits defined in the Investment Policy, these decisions and the reasons thereof
are communicated to the CEO for post facto approval.

The designated Fund Managers of the Scheme will be responsible for taking day-to-day investment
decisions and will inter-alia be responsible for asset allocation, security selection and timing of
investment decisions.

Portfolio Turnover Policy

Portfolio turnover is defined as the aggregate value of purchases or sales as a percentage of the corpus
of a scheme during a specified period of time. The Scheme is open ended, with subscriptions and
redemptions expected on a daily basis, resulting in net inflow/outflow of funds, and on account of the
various factors that affect portfolio turnover; it is difficult to give an estimate, with any reasonable
amount of accuracy.

Page 16 of 56
However, during volatile market conditions, the fund manager has the flexibility to churn the portfolio
actively to optimize returns keeping in mind the cost associated with it.

D. HOW WILL THE SCHEME BENCHMARK ITS PERFORMANCE?

The performance of the scheme will be benchmarked to the performance of the Nifty 500 (TRI) for Tier
1 Benchmark & Nifty 200 (TRI) for Tier 2 Benchmark.

Rationale for adoption of benchmark:

The Fund’s strategy is to invest in a diversified portfolio of companies across sectors. The Fund will
also have the flexibility to invest in companies across the market capitalization spectrum and as such,
the constituents of the Nifty 200 Index reasonably represent the portfolio of the scheme. The above
benchmarks are in accordance with clause 9.1 of SEBI Master Circular date May 19,2 023 on ‘Guiding
Principles for bringing uniformity in Benchmarks of Mutual Fund Schemes’.

The Trustees may change the benchmark in future if a benchmark better suited to the investment
objective of the Scheme is available.

Page 17 of 56
 E. WHO MANAGES THE SCHEME?

Sr. No. Particulars Details

i. Name Mr. Neelesh Surana
ii. Age 55 years
iii. Qualification B.E. (Mechanical), MBA (Finance)
iv. Past Mr. Neelesh Surana is Head of Equities at Mirae Asset Investment
experience Managers (India) Private Limited. In his capacity as Head of Equities,
Mr. Neelesh spearheads the equity research and investment function. He
is responsible for the managing existing equity funds of Mirae Asset
(India), as well as, providing research support for the global mandate.
Following Schemes are co-managed by him:

i. Mirae Asset Large & Midcap Fund

An engineering graduate with MBA in Finance, Neelesh has over 32

years of experience in equity research and portfolio management. Prior
to Mirae Asset, Neelesh was with ASK Investment Managers Ltd., as
Senior Portfolio Manager responsible for managing domestic and
international portfolios.
v. Tenure for 8 years and 6 months, (since December 28, 2015)
which the
fund manager
has been
managing the
scheme

F. HOW IS THE SCHEME DIFFERENT FROM EXISTING SCHEMES OF THE MUTUAL

FUND?

The existing equity schemes of Mirae Asset Mutual Fund are as below:
1. Mirae Asset Large Cap Fund
2. Mirae Asset Large & Midcap Fund (formerly known as Mirae Asset Emerging Bluechip
Fund)
3. Mirae Asset ELSS Tax Saver Fund (formerly known as Mirae Asset Tax Saver Fund)
4. Mirae Asset Focused Fund
5. Mirae Asset Midcap Fund
6. Mirae Asset Great Consumer Fund
7. Mirae Asset Healthcare Fund
8. Mirae Asset Banking and Financial Services Fund
9. Mirae Asset Multicap Fund

The table showing the differentiation of the Scheme with the existing Hybrid schemes of Mirae
Asset Mutual Fund is available at: https://www.miraeassetmf.co.in/downloads/statutory-
disclosure/other-disclosure/offer-documents-data

Page 18 of 56
G. HOW HAS THE SCHEME PERFORMED

Particulars Regular Plan – Growth option Direct Plan – Growth option

Compounded Tier 1 Tier 2 Tier 1 Tier 2
Scheme
Annualised Scheme Benchmark Benchmark Benchmark Benchmark
returns
Growth Returns returns (%) Returns Returns Returns Returns
(%)
(CAGR) (%) (%) (%) (%)
Since Inception 18.84 15.89 15.47 20.44 15.89 15.47
Last 1 year 32.10 35.17 32.39 33.41 35.17 32.39
Last 3 years 16.13 18.10 17.08 17.44 18.10 17.08
Last 5 years 18.89 17.85 16.88 20.44 17.85 16.88
NAV as on
31/05/2024 42.853 33,168.20 16,734.21 47.955 33,168.20 16,734.21

Inception date: 28th December, 2015

Absolute Return for Each Financial Year for the Last 5 year

Absolute Returns for each financial year for the last 5 years
100.00%
86.01%
77.58% 74.61%
80.00%

60.00%
40.49%
35.13% 38.26%
40.00%
20.26% 22.29% 21.37%
20.00%

0.00%
-1.20% -1.22% -1.09%
-20.00%
-22.31% -26.62%
-40.00% -26.09%
FY23-24 FY22-23 FY21-22 FY20-21 FY19-20

Mirae Asset ELSS Tax Saver Fund - Regular Plan Nifty 500 Index (TRI) Nifty 200 Index (TRI)

Page 19 of 56
 Absolute Returns for each financial year for the last 5 years
100.00%
88.90%
77.58% 74.61%
80.00%

60.00%
40.49%
36.51% 38.26%
40.00%
21.82% 22.29%21.37%
20.00%

0.00%
-0.07% -1.09%
-1.22%
-20.00%
-21.01%
-26.62%-26.09%
-40.00%
FY23-24 FY22-23 FY21-22 FY20-21 FY19-20

Mirae Asset ELSS Tax Saver Fundd - Direct Plan Nifty 500 Index (TRI) Nifty 200 Index (TRI)

* from inception 28-Dec-15 to 31-Mar-2024

Past performance may or may not be sustained in future and should not be used as a basis for
comparison with other investments.

As per the SEBI standards for performance reporting, the returns are calculated on allotment NAV.
For this purpose, the inception date is deemed to be the date of allotment. The calculations of returns
shall assume reinvestment of all payouts at the then prevailing NAV. The absolute graph of is
computed from the Date of Allotment/1st April, as the case maybe, to 31st March of the respective
financial year.

H. ADDITIONAL SCHEME RELATED DISCLOSURES

i. Scheme’s portfolio holdings (top 10 holdings by issuer and fund allocation towards
various sectors are available on functional website link:
https://www.miraeassetmf.co.in/downloads/statutory-disclosure/other-disclosure/offer-
documents-data
ii. Disclosure of name and exposure to Top 7 issuers, stocks, groups and sectors as a
percentage of NAV of the scheme through a functional website link that contains detailed
description - Not applicable
iii. Functional website link for Portfolio Disclosure -
https://www.miraeassetmf.co.in/downloads/portfolio
iv. Portfolio Turnover Ratio: 1.09 times
v. Aggregate investment in the Scheme by:
Sr. Category of Persons Net Value Market Value
No. (in Rs.)
1. Fund Manager(s) Units NAV per unit
Mr. Neelesh Surana 69,71,510.09 47.96 33,43,18,766.47

Page 20 of 56
 For any other disclosure w.r.t investments by key personnel and AMC directors including
regulatory provisions in this regard kindly refer SAI.

vi. Investments of AMC in the Scheme – https://www.miraeassetmf.co.in/downloads/statutory-

disclosure/other-disclosure/offer-documents-data

The AMC shall not invest in any of the schemes unless full disclosure of its intention to invest has
been made in the Scheme Information Document and that the AMC shall not be entitled to charge
any fees on such investment

Part III- OTHER DETAILS

A. COMPUTATION OF NAV

The NAV of the Units of the Scheme will be computed by dividing the net assets of the Scheme by
the number of Units outstanding on the valuation date.

NAV of Units under the Options there under can be calculated as shown below:

(Market or Fair Value of Scheme’s investments + Current assets including Accrued Income -
Current Liabilities and provisions including accrued expenses)
NAV = ____________________________________________________________________
No. of Units outstanding under the Scheme/Option.

The NAV, the sale and repurchase prices of the Units will be calculated and announced at the close
of each working day. The NAVs of the Scheme will be computed and units will be allotted upto 3
decimals.

Computation of NAV will be done after taking into account IDCW paid, if any, and the distribution
tax thereon, if applicable. Therefore, once IDCW are distributed under the IDCW Option, the NAV
of the Units under the IDCW Option would always remain lower than the NAV of the Units issued
under the Growth Option. The income earned and the profits realized in respect of the Units issued
under the Growth Option remain invested and are reflected in the NAV of the Units.

The valuation of the Schemes’ assets and calculation of the Schemes’ NAVs shall be subject to audit
on an annual basis and such regulations as may be prescribed by SEBI from time to time.

Illustration on Computation of NAV:

If the net assets of the Scheme are Rs.10,65,44,345.34 and units outstanding are 1,00,00,000 then the
NAV per unit will be computed as follows:

10,65,44,345.34 / 1,00,00,000 = Rs. 10.6544 p.u. (rounded off to four decimals)

The Mutual Fund may charge the load within the stipulated limit of 5% and without any
discrimination to any specific group. The Repurchase Price however, will not be lower than 95%
of the NAV.

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 For other details such as policies w.r.t computation of NAV, rounding off, investment in foreign
securities, procedure in case of delay in disclosure of NAV etc. refer to SAI.

B. NEW FUND OFFER (NFO) EXPENSES

These expenses are incurred for the purpose of various activities related to the NFO like sales and
distribution fees paid marketing and advertising, registrar expenses, printing and stationary, bank
charges etc. NFO expenses were borne by the AMC. No NFO expenses were charged to the
Scheme.

C. ANNUAL SCHEME RECURRING EXPENSES

These are the fees and expenses for operating the scheme. These expenses include Investment
Management and Advisory Fee charged by the AMC, Registrar and Transfer Agents’ fee,
marketing and selling costs etc. as given in the table below:

The AMC has estimated that upto 2.25% of the daily net assets of the Scheme will be charged to the
scheme as expenses. As per the Regulations, the maximum recurring expenses including investment
management and advisory fee that can be charged to the Scheme shall be subject to a percentage
limit of daily net assets as in the table below:

First Rs. 500 crores 2.25%

Next Rs. 250 crores 2.00%
Next Rs. 1250crores 1.75%
Next Rs. 3000 crores 1.60%
Next Rs. 5000 crores 1.50%
on the next Rs. 40,000 crores of the daily net Total expense ratio reduction of 0.05%
assets for every increase of Rs 5,000 crores of
daily net assets or part thereof,
Balance of assets 1.05%

For the actual current expenses being charged, the investor should refer to the website of the mutual
fund https://www.miraeassetmf.co.in/downloads/statutory-disclosure/total-expense-ratio

Particulars % p.a. of
daily net
assets*
(Estimated
p.a.)
Investment Management & Advisory Fee
Trustee fee
Audit fees
Custodian fees
RTA Fees
Marketing & Selling expense incl. agent commission**
Cost related to investor communications
Cost of fund transfer from location to location

Page 22 of 56
 Cost of providing account statements and redemption of IDCW cheques and Upto 2.25%
warrants
Costs of statutory Advertisements
Cost towards investor education & awareness (2 bps)
Brokerage & transaction cost over and above 12 bps and 5 bps for cash market
transactions and derivative transaction respectively @@
Goods and Services tax on expenses other than investment and advisory fees
Goods and Services tax on brokerage and transaction cost
Other Expenses*
Maximum total expense ratio (TER) permissible under Regulation 52 (6) (c)
^ Additional expenses under regulation 52 (6A) (c) Upto 0.05%
$Additional expenses for gross new inflows from specified cities*** Upto 0.30%
*Other expenses: Any other expenses which are directly attributable to the Scheme, may be charged with
approval of the Trustee within the overall limits as specified in the Regulations except those expenses which
are specifically prohibited.
^ In terms of clause 10.1 of SEBI Master circular dated May 19, 2023, in case exit load is not levied / not
applicable, the AMC shall not charge the said additional expenses.
@@ Brokerage and transaction costs which are incurred for the purpose of execution of trade and is included
in the cost of investment shall not exceed 0.12 per cent in case of cash market transactions and 0.05 per cent
in case of derivatives transactions.

For the actual current expenses being charged, the investor should refer to the website of the Mutual Fund.

The purpose of the above table is to assist the investor in understanding the various costs & expenses that the
investor in the Scheme will bear directly or indirectly. These estimates have been made in good faith as per
the information available to the AMC and the above expenses (including investment management and
advisory fees) are subject to inter-se change and may increase/decrease as per actual and/or any change in
the Regulations, as amended from time to time.

All scheme related expenses including commission paid to distributors, by whatever name it may be called
and in whatever manner it may be paid, shall necessarily be paid from the scheme only within the regulatory
limits and not from the books of the Asset Management Companies (AMC), its associate, sponsor, trustee or
any other entity through any route.

In addition to the limits as specified in Regulation 52(6) of SEBI (Mutual Funds) Regulations 1996 [‘SEBI
Regulations’] or the Total Recurring Expenses (Total Expense Limit) as specified above, the following costs
or expenses may be charged to the scheme namely:-

$Additional expenses for gross new inflows from specified cities:

(a) expenses not exceeding of 0.30 per cent of daily net assets, if the new inflows from such cities as specified
by SEBI from time to time are at least -
(i) 30 per cent of gross new inflows in the scheme, or;
(ii) 15 per cent of the average assets under management (year to date) of the scheme, whichever is higher:

Provided that if inflows from such cities is less than the higher of sub-clause (i) or sub-clause (ii), such
expenses on daily net assets of the Scheme shall be charged on proportionate basis.

Page 23 of 56
Provided further that, expenses charged under this clause shall be utilised for distribution expenses incurred
for bringing inflows from such cities.

Provided further that amount incurred as expense on account of inflows from such cities shall be credited
back to the Scheme in case the said inflows are redeemed within a period of one year from the date of
investment.

Currently, SEBI has specified that the above additional expenses may be charged for inflows from beyond
‘Top 30 cities.’ The top 30 cities shall mean top 30 cities based on Association of Mutual Funds in India
(AMFI) data on ‘AUM by Geography – Consolidated Data for Mutual Fund Industry’ as at the end of the
previous financial year.

Provided further that, additional TER can be charged based on inflows only from retail investors from B30
cities in terms of clause 10.1 of SEBI Master Circular dated May 19, 2023.

‘Retail investors’ are defined as individual investors with an inflow of an amount upto Rs 2,00,000/- per
transaction.

This sub clause (a) shall be applicable for inflows received during the NFO period.

*** Note: SEBI vide its letter no. SEBI/HO/IMD-SEC-3/P/OW/2023/5823/1 dated February 24, 2023
and AMFI letter dated No. 35P/ MEM-COR/ 85/ 2022-23 dated March 02, 2023 has directed AMCs to keep
B-30 incentive structure in abeyance with effect from March 01, 2023 till further notice.

(b) GST payable on investment and advisory service fees (‘AMC fees’) charged by Mirae Asset Investment
Managers (India) Private Limited (‘Mirae Asset AMC)’;

Within the Total Expense Limit chargeable to the Scheme, following will be charged to the Scheme:
(a) GST on other than investment and advisory fees, if any, (including on brokerage and transaction costs on
execution of trades) shall be borne by the Scheme;
(b) Investor education and awareness initiative fees of 2 basis points on daily net assets of respective Scheme.

The current expense ratios will be updated on the AMC website

https://miraeassetmf.co.in/downloads/regulatory at least 3 working days prior to the effective date of the
change.

Further, the notice of change in base TER (i.e. TER excluding additional expenses provided in Regulation
52(6A) (b) and 52(6A)(c) of SEBI (Mutual Funds) Regulations, 1996) in comparison to previous base TER
charged to the scheme will be communicated to investors of the scheme through notice via email or SMS at
least three working days prior to effecting such change.

However, any decrease in TER due to decrease in applicable limits as prescribed in Regulation 52 (6) (i.e.
due to increase in daily net assets of the scheme) would not require issuance of any prior notice to the
investors. Further, such decrease in TER will be immediately communicated to investors of the scheme
through email or SMS and uploaded on the AMC website.

The above change in the base TER in comparison to previous base TER charged to the scheme shall be
intimated to the Board of Directors of AMC along with the rationale recorded in writing.

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The changes in TER shall also be placed before the Trustees on quarterly basis along with rationale for such
changes.

Illustration of impact of expense ratio on scheme’s returns

Regular Plan

Particulars NAV
Opening NAV per unit A 10.000
Gross Scheme Returns @ 8.75% B 0.875
Expense Ratio @ 1.50 % p.a. (including C = (A x 0.150
distribution expenses) charged during 1.50%)
the year
Closing NAV per unit D = A + B - C 10.725
Net 1 Year Return D/A - 1 7.25%

Direct Plan

Particulars NAV
Opening NAV per unit A 10.000
Gross Scheme Returns @ 8.75% B 0.875
Expense Ratio @ 0.80 % p.a. (including C = (A x 0.080
distribution expenses) charged during 0.80%)
the year
Closing NAV per unit D = A + B - C 10.795
Net 1 Year Return D/A - 1 7.95%

The above calculation is provided to illustrate the impact of expenses on the scheme returns and should
not be construed as indicative Expense Ratio, yield or return.

D. LOAD STRUCTURE

Exit Load is an amount which is paid by the investor to redeem the units from the scheme. Load
amounts are variable and are subject to change from time to time. For the current applicable
structure, please refer to the website of the AMC (https://www.miraeassetmf.co.in/) or may call at
‘1800 2090 777’ or your distributor.

Type of Load Load chargeable (as %age of NAV)

Exit NIL

For any change in exit load, AMC will issue an addendum and display it on the website/Investor
Service Centres.

Page 25 of 56
 The Mutual Fund may charge the load within the stipulated limit of 5% and without any
discrimination to any specific group. The Repurchase Price however, will not be lower than 95% of
the NAV.

The Trustee reserves the right to modify/alter the load structure and may decide to charge an exit
load on the Units with prospective effect, subject to the maximum limits as prescribed under the
SEBI Regulations. At the time of changing the load structure, the AMC shall take the following
steps:

• Arrangements shall be made to display the changes/modifications in the SID in the form of a
notice in all the Mirae Asset ISCs’ and distributors’ offices.
• The notice–cum-addendum detailing the changes shall be attached to SIDs and Key Information
Memoranda. The addendum will be circulated to all the distributors so that the same can be
attached to all SIDs and Key Information Memoranda already in stock.
• The introduction of the exit load along with the details shall be stamped in the acknowledgement
slip issued to the investors on submission of the application form and may also be disclosed in
the statement of accounts issued after the introduction of such load.
• Any other measures which the mutual funds may feel necessary.

The AMC may change the load from time to time and in case of an exit/repurchase load this may be
linked to the period of holding. It may be noted that any such change in the load structure shall be
applicable on prospective investment only. The exit load (net off GST, if any, payable in respect of
the same) shall be credited to the Scheme of the Fund.

The distributors should disclose all the commissions (in the form of trail commission or any other
mode) payable to them for the different competing schemes of various mutual funds from amongst
which the scheme is being recommended to the investor.

Section II
I. Introduction

A. Definitions/interpretation

Please refer the definitions/interpretation as disclosed under:

https://www.miraeassetmf.co.in/downloads/statutory-disclosure/other-disclosure/offer-documents-
data

B. Risk factors

Standard Risk Factors:

• Investment in Mutual Fund units involves investment risks such as trading volumes, settlement
risk, liquidity risk, default risk including the possible loss of principal
• As the price / value / interest rate of the securities in which the Scheme invests fluctuates, the value
of your investment in the scheme can go up or down depending on various factors and forces
affecting capital markets and money markets.
• Past performance of the Sponsor/ AMC/ Mutual Fund does not guarantee the future performance
of the Scheme.
• The name of the scheme does not in any manner indicate its quality or its future prospects and
returns.

Page 26 of 56
• The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme
beyond the initial contribution of Rs.1.00 Lac made by it towards setting up the Mirae Asset
Mutual Fund.
• The present scheme is not a guaranteed or assured return scheme. In addition, the scheme does not
guarantee or assure any dividend and also does not guarantee or assure that it will make any
dividend distribution, though it has every intention to make the same in the distributions of Income
Distribution cum Capital Withdrawal option. All distributions of Income Distribution cum Capital
Withdrawal will be subjected to the investment performance of the Scheme.
•
Scheme Specific Risk Factors

The Scheme is subject to the principal risks described below. Some or all of these risks may adversely
affect Scheme’s NAV, yield, return and/or its ability to meet its objectives.

• As per the provision of lock-in under the ELSS Guidelines, the ability of Unitholders to realize
returns in the Scheme is restricted for the first three years from the date of their allotment.

Risks Associated with Equity Investments:

• Equity and equity related securities are volatile and prone to price fluctuations on a daily basis.
The liquidity of investments made in the Scheme may be restricted by trading volumes and
settlement periods. Settlement periods may be extended significantly by unforeseen circumstances.
The inability of the Scheme 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 portfolio would result at times, in potential losses to the Scheme,
should there be a subsequent decline in the value of securities held in the Scheme portfolio. Also,
the value of the Scheme investments may be affected by interest rates, changes in law/ policies of
the government, taxation laws and political, economic or other developments which may have an
adverse bearing on individual Securities, a specific sector or all sectors.

• Investments in equity and equity related securities involve a degree of risk and investors should not
invest in the equity Schemes unless they can afford to take the risk of losing their investment.

• Securities which are not quoted on the stock exchanges are inherently illiquid in nature and carry a
larger liquidity risk in comparison with securities that are listed on the exchanges or offer other
exit options to the investors, including put options. The AMC may choose to invest in unlisted
securities that offer attractive yields within the regulatory limit. This may however increase the
risk of the portfolio. Additionally, the liquidity and valuation of the Scheme investments due to its
holdings of unlisted securities may be affected if they have to be sold prior to the target date of
disinvestment.

Risks Associated with Debt & Money Market Instruments

• Price-Risk or Interest-Rate Risk: Fixed income securities such as bonds, debentures and money
market instruments run price-risk or interest-rate risk. Generally, when interest rates rise, prices of
existing fixed income securities fall and when interest rates drop, such prices increase. The extent
of fall or rise in the prices is a function of the existing coupon, days to maturity and the increase or
decrease in the level of interest rates.

Page 27 of 56
• Credit Risk: In simple terms this risk means that the issuer of a debenture/ bond or a money
market instrument may default on interest payment or even in paying back the principal amount on
maturity. Even where no default occurs, the price of a security may go down because the credit
rating of an issuer goes down. It must, however, be noted that where the Scheme has invested in
Government securities, there is no credit risk to that extent.

• Liquidity or Marketability Risk: This refers to the ease with which a security can be sold at or
near to its valuation yield-to-maturity (YTM). The primary measure of liquidity risk is the spread
between the bid price and the offer price quoted by a dealer. Liquidity risk is today characteristic
of the Indian fixed income market.

• Reinvestment Risk: Investments in fixed income securities may carry reinvestment risk as interest
rates prevailing on the interest or maturity due dates may differ from the original coupon of the
bond. Consequently, the proceeds may get invested at a lower rate.

• Pre-payment Risk: Certain fixed income securities give an issuer the right to call back its
securities before their maturity date, in periods of declining interest rates. The possibility of such
prepayment may force the fund to reinvest the proceeds of such investments in securities offering
lower yields, resulting in lower interest income for the fund.

• Spread Risk: In a floating rate security the coupon is expressed in terms of a spread or mark up
over the benchmark rate. In the life of the security this spread may move adversely leading to loss
in value of the portfolio. The yield of the underlying benchmark might not change, but the spread
of the security over the underlying benchmark might increase leading to loss in value of the
security.

• Concentration Risk: The Scheme portfolio may have higher exposure to a single sector, subject to
maximum of 20% of net assets, depending upon availability of issuances in the market at the time
of investment, resulting in higher concentration risk. Any change in government policy / business
environment relevant to the sector may have an adverse impact on the portfolio.

• Different types of securities in which the scheme would invest as given in the SID carry different
levels and types of risk. Accordingly the scheme’s risk may increase or decrease depending upon
its investment pattern. E.g. corporate bonds carry a higher amount of risk than Government
securities. Further even among corporate bonds, bonds, which are AA rated, are comparatively
more risky than bonds, which are AAA rated.

• C. RISK MITIGATION MEASURES

Concentration Risk
The AMC will mitigate this risk by investing in sufficiently large number of issuers spread across the
sectors so as to maintain optimum diversification and keep issuer/sector specific concentration risk
relatively low.

Liquidity Risk
The Schemes will invest in debt instruments and money market instruments. While the liquidity risk
for government securities, money market instruments and short maturity corporate bonds may be low,
it may be high in case of medium to long maturity corporate bonds. Liquidity risk is today characteristic

Page 28 of 56
of the Indian fixed income market. The Schemes will however, endeavor to minimize liquidity risk by
investing in securities having a liquid market.

Risks Associated with Equity Investments:

The scheme has a diversified portfolio to counter the volatility in the prices of individual stocks.
Diversification in the portfolio reduces the impact of high fluctuations in daily individual stock prices
on the portfolio.

Risk of investing in unlisted securities

As per SEBI guidelines, not more than 10% of the portfolio can be invested in unlisted securities.
Rigorous due diligence is undertaken before any investments are made by the portfolio in unlisted
securities, if any.

Risks Associated with Debt & Money Market Instruments

Credit Risk - The fund has a rigorous credit research process. There is a regulatory and internal cap on
exposure to each issuer. This ensures a diversified portfolio and reduced credit risk in the portfolio.

Risks associated with investing in Tri-Party Repo through CCIL (TREPS)

The mutual fund is a member of securities segment and Tri-party Repo trade settlement of the Clearing
Corporation of India (CCIL). All transactions of the mutual fund in government securities and in
Triparty Repo trades are settled centrally through the infrastructure and settlement systems provided by
CCIL; thus reducing the settlement and counterparty risks considerably for transactions in the said
segments. CCIL maintains prefunded resources in all the clearing segments to cover potential losses
arising from the default member. In the event of a clearing member failing to honour his settlement
obligations, the default Fund is utilized to complete the settlement. The sequence in which the above
resources are used is known as the “Default Waterfall”. As per the waterfall mechanism, after the
defaulter’s margins and the defaulter’s contribution to the default fund have been appropriated, CCIL’s
contribution is used to meet the losses. Post utilization of CCIL’s contribution if there is a residual loss,
it is appropriated from the default fund contributions of the non-defaulting members. Thus the scheme
is subject to risk of the initial margin and default fund contribution being invoked in the event of failure
of any settlement obligations. In addition, the fund contribution is allowed to be used to meet the
residual loss in case of default by the other clearing member (the defaulting member). However, it may
be noted that a member shall have the right to submit resignation from the membership of the Security
segment if it has taken a loss through replenishment of its contribution to the default fund for the
segments and a loss threshold as notified have been reached. The maximum contribution of a member
towards replenishment of its contribution to the default fund in the 7 days (30 days in case of securities
segment) period immediately after the afore-mentioned loss threshold having been reached shall not
exceed 5 times of its contribution to the Default Fund based on the last re-computation of the Default
Fund or specified amount, whichever is lower. Further, it may be noted that, CCIL periodically
prescribes a list of securities eligible for contributions as collateral by members. Presently, all Central
Government securities and Treasury bills are accepted as collateral by CCIL. The risk factors may
undergo change in case the CCIL notifies securities other than Government of India securities as eligible
for contribution as collateral.”

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II. Information about the scheme:

A. Where will the scheme invest

Equity and Equity Related Instruments:

The Scheme will invest in equity and equity related instruments.

1. Equity share is a security that represents ownership interest in a company.
2. Equity Related Instruments are securities which give the holder of the security right to receive Equity
Shares on pre-agreed terms. It includes equity warrants.

Debt & Money Market Instruments:

The Scheme will invest in debt and money market instruments. It retains the flexibility to invest across
all the securities in the debt and money markets.

Debt securities and Money Market Instruments will include but will not be limited to:

a. Securities created and issued by the Central and State Governments as may be permitted by RBI
(including but not limited to coupon bearing bonds, zero coupon bonds and treasury bills).

b. Securities guaranteed by the Central and State Governments (including but not limited to coupon
bearing bonds, zero coupon bonds and treasury bills).

c. Debt securities of domestic Government agencies and statutory bodies, which may or may not carry
a Central/State Government guarantee.

d. Corporate debt (of both public and private sector undertakings).

e. Obligations/ Term Deposits of banks (both public and private sector) and development financial
institutions.

f. Money market instruments permitted by SEBI/RBI, or in alternative investment for the call money
market as may be provided by the RBI to meet the liquidity requirements.

g. Certificate of Deposits (CDs).

h. Commercial Paper (CPs). A part of the net assets may be invested in the Tri-party or in an alternative
investment as may be provided by RBI to meet the liquidity requirements.

i. The non-convertible part of convertible securities.

j. Any other domestic fixed income securities as permitted by SEBI / RBI from time to time.

l. Any other instruments / securities, which in the opinion of the fund manager would suit the investment
objective of the scheme subject to compliance with extant Regulations.

The Investment Manager will invest only in those debt securities that are rated investment grade by a
domestic credit rating agency authorized to carry out such activity, such as CRISIL, ICRA, CARE,

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 FITCH, etc. The securities may be acquired through Initial Public Offerings (IPOs), secondary market
operations, private placement, rights offer or negotiated deals.

The Scheme shall not enter into any repurchase and reverse repurchase obligations in all securities held
by it. The scheme does not intend to invest into any credit default swaps.

Credit Evaluation Policy

Credit Analysis at MAMF is an independent function performed by the Risk Management (RM) team.
The RM team sets up and monitors lending limits for each debt issuer. Issuer risk limits cover the
quantum of exposure, maximum tenor and in some instances the type of instruments that can be
purchased by the Investment Manager. An individual scheme’s access to the issuer limit is dependent
on its investment objectives, regulatory restrictions and assets under management. Risk limits for
issuers are assigned and reviewed regularly at an internal investment Committee Meetings.

Credit evaluation process:

With the aim of controlling risks, rigorous in depth credit evaluation of the securities proposed to be
invested in will be carried out by the investment team of the AMC. The credit evaluation process
includes analysis of the operating and financial strength of the issuer as well as management and
industry risk evaluation. For structured obligations, in addition to the above, the evaluation also covers
originator analysis, collateral analysis, structure analysis and embedded risk analysis. Each credit
proposal is discussed by an internal Investment Committee and a limit is assigned, if the issuer/structure
is suitable. The AMC will also be guided by the ratings of Rating Agencies approved by SEBI for this
purpose.

Risk is an inherent part of the investment function. Effective risk management is critical to fund
management for achieving financial soundness. Investments by the Scheme shall be made as per the
investment objective of the Scheme and provisions of SEBI (MF) Regulations. AMC has incorporated
adequate safeguards to manage risk in the portfolio construction process. Risk control would involve
managing risk in order to keep it in line with the investment objective of the Scheme. The risk control
process involves identifying & measuring the risk through various Risk Measurement Tools like but
not limited to calculating risk ratios, tracking error etc. The AMC has Front Office System (FOS) and
that has incorporated all the investment restrictions as per SEBI guidelines and “soft” warning alerts at
appropriate levels for preemptive monitoring. The system enables identifying & measuring the risk
through various risk measurement tools like various risk ratios, average duration and analyzes the same
so as to act in a preventive manner.

Overview of Debt Markets in India

Indian fixed income market, one of the largest and most developed in South Asia, is well integrated with
the global financial markets. Screen based order matching system developed by the Reserve Bank of
India (RBI) for trading in government securities, straight through settlement system for the same,
settlements guaranteed by the Clearing Corporation of India and innovative instruments like TREPS have
contributed in reducing the settlement risk and increasing the confidence level of the market participants.

The RBI reviews the monetary policy six times a year giving the guidance to the market on direction of
interest rate movement, liquidity and credit expansion. The central bank has been operating as an
independent authority, formulating the policies to maintain price stability and adequate liquidity. Bonds

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are traded in dematerialized form. Credit rating agencies have been playing an important role in the
market and are an important source of information to manage the credit risk.

Government (Central and State) is the largest issuer of debt in the market. Public sector enterprises, quasi
government bodies and private sector companies are other issuers. Insurance companies, provident funds,
banks, mutual funds, financial institutions, corporates and FPIs are major investors in the market.
Government loans are available up to 40 years maturity. Variety of instruments available for investments
including plain vanilla bonds, floating rate bonds, money market instruments, structured obligations and
interest rate derivatives make it possible to manage the interest rate risk effectively.

Indicative levels of the instruments as on May 31, 2024 are as follows:

Instrument Maturity Tenure Yield Liquidity

TREPS / Repo Short Overnight 6.76 Very High
3 months CP* 7.65
CP / CD / T Bills Short High
3 months CD 7.15
1 Year CP* 8.12
1 Year CD 7.71
Low to
Central Government securities 10 years 6.98 Medium
High
Source: Bloomberg *Data is for NBFC.

B. What are the investment restrictions?

Investment Limitations and Restrictions

The following investment limitations and other restrictions, inter-alia, as contained in the Trust Deed
and the Regulations apply to the Scheme:

• The AMC / Mutual Fund shall ensure that total exposure of debt schemes in a particular sector
(excluding investments in Bank CDs, CBLO, G-Secs, T-Bills and AAA rated securities issued by
Public Financial Institutions and Public Sector Banks) shall not exceed 20% of the net assets of the
scheme. However, the scheme(s) may have an additional exposure to financial services sector
(over and above the sectoral limit of 20%) not exceeding 10% of its net assets by way of increase
in exposure to Housing Finance Companies (HFCs) registered with National Housing Bank. Such
additional exposure shall be to securities issued by HFCs which are rated AA and above. Further,
the Scheme may have an additional exposure of 5% of the net assets of the scheme for investments
in securitized debt instruments based on retail housing loan portfolio and/or affordable housing
loan portfolio. The total investment / exposure in HFCs shall not exceed 20% of the net assets of
the scheme(s).

• The Mutual Funds/AMCs shall ensure that total exposure of debt schemes in a group (excluding
investments in securities issued by Public Sector Units, Public Financial Institutions and Public
Sector Banks) shall not exceed 20% of the net assets of the scheme. Such investment limit may be
extended to 25% of the net assets of the scheme with the prior approval of the Board of Trustees.

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 Further, investments by debt mutual fund schemes in debt and money market instruments of group
companies of both the sponsor and the asset management company shall not exceed 10% of the net
assets of the scheme. Such investment limit may be extended to 15% of the net assets of the scheme
with the prior approval of the Board of Trustees.

A group means a group as defined under regulation 2(mm) of SEBI (Mutual Funds) Regulations,
1996 and shall include an entity, its subsidiaries, fellow subsidiaries, its holding company and its
associates.

• The scheme shall not invest more than 10% of its NAV in debt instruments comprising money
market instruments and non-money market instruments issued by a single issuer which are rated
not below investment grade by a credit rating agency authorized to carry out such activity under
the Act. Such investment limit may be extended to 12% of the NAV of the scheme with the prior
approval of the Board of Trustees and the Board of directors of the asset management company.

Further, in accordance with clause 12.8 of SEBI Master Circular dated May 19, 2023, the Scheme
shall not invest more than:
a) 10% of its NAV in debt and money market securities rated AAA; or
b) 8% of its NAV in debt and money market securities rated AA; or
c) 6% of its NAV in debt and money market securities rated A and below

The above investment limits may be extended by up to 2% of the NAV of the scheme with prior
approval of the Board of Trustees and Board of Directors of the AMC, subject to compliance with
the overall 12% limit specified above.

• The scheme shall not invest in unlisted debt instruments including commercial papers (CPs), other
than (a) government securities, (b) other money market instruments and (c) derivative products
such as Interest Rate Swaps (IRS), Interest Rate Futures (IRF), etc. which are used by mutual
funds for hedging. However, mutual fund schemes may invest in unlisted Non-Convertible
Debentures (NCDs) not exceeding 10% of the debt portfolio of the scheme subject to the condition
that such unlisted NCDs have a simple structure (i.e. with fixed and uniform coupon, fixed
maturity period, without any options, fully paid up upfront, without any credit enhancements or
structured obligations) and are rated and secured with coupon payment frequency on monthly
basis.

• Investment in unrated debt and money market instruments, other than government securities,
treasury bills, derivative products such as Interest Rate Swaps (IRS), Interest Rate Futures (IRF),
etc. shall be subject to following:
a. Investments shall only be made in such instruments, including bills rediscounting, usance
bills, etc., that are generally not rated and for which separate investment norms or limits are
not provided in SEBI (Mutual Fund) Regulations, 1996 and various circulars issued
thereunder.
b. Exposure in such instruments, shall not exceed 5% of the net assets of the scheme.
c. All such investments shall be made with the prior approval of the Board of AMC and the
Board of trustees.

• All investments by a mutual fund scheme in equity shares and equity related instruments shall only
be made provided such securities are listed or to be listed.

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• Debentures, irrespective of any residual maturity period (above or below one year), shall attract
the investment restrictions as applicable for debt instruments as specified above.

As per clause 12.16 of SEBI Master Circular dated May 19, 2023 on investments in Short Term
Deposits (STDs) of Scheduled Commercial Banks:

• Total investment of the Scheme in Short term deposit(s) of all the Scheduled Commercial Banks
put together shall not exceed 15% of the net assets. However, this limit can be raised upto 20%
of the net assets with prior approval of the trustees. Further, investments in Short Term Deposits
of associate and sponsor scheduled commercial banks together shall not exceed 20% of total
deployment by the Mutual Fund in short term deposits.

• “Short Term” for parking of funds by Mutual Funds shall be treated as a period not exceeding 91
days

• The Scheme shall not invest more than 10% of the net assets in short term deposit(s), of any one
scheduled commercial bank including its subsidiaries.

• The Scheme shall not invest in short term deposit of a bank which has invested in that Scheme.
AMC shall also ensure that the bank in which a scheme has Short term deposit do not invest in
the said scheme until the scheme has Short term deposit with such bank.

• Asset Management Company (AMC) shall not be permitted to charge any investment
management and advisory fees for parking of funds in short term deposits of scheduled
commercial banks.

• The investments in short term deposits of scheduled commercial banks will be reported to the
Trustees along with the reasons for the investment which, inter-alia, would include comparison
with the interest rates offered by other scheduled commercial banks. Further, AMC shall ensure
that the reasons for such investments are recorded in the manner prescribed in clause 12.23 of
SEBI Master Circular dated May 19, 2023.

• The Scheme will comply with SEBI regulations and any other regulations applicable to the
investments of Funds from time to time. The Trustee may alter the above restrictions from time
to time to the extent that changes in the regulations may allow. All investment restrictions shall
be applicable at the time of making investment.

• In accordance with clause 12.16 of SEBI Master Circular dated May 19, 2023 the aforesaid
limits shall not be applicable to term deposits placed as margins for trading in cash and
derivatives market.

• Inter scheme transfers of investments from one scheme to another scheme in the same Mutual
Fund shall be allowed only if such transfers are done at the prevailing market price for quoted
instruments on spot basis. Explanation -“Spot basis” shall have same meaning as specified by
stock exchange for spot transactions. The securities so transferred shall be in conformity with the
investment objective of the scheme to which such transfer has been made.

Pursuant to Clause 12.30 of SEBI Master Circular SEBI/HO/IMD/IMD-PoD-1/P/CIR/2023/74

dated May 19, 2023, ISTs may be allowed in the following scenarios:

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 i. for meeting liquidity requirement in a scheme in case of unanticipated redemption pressure
ii. for Duration/ Issuer/ Sector/ Group rebalancing

No IST of a security shall be done, if there is negative news or rumors in the mainstream media or
an alert is generated about the security, based on internal credit risk assessment. The Scheme shall
comply with the guidelines for inter-scheme transfers as specified under clause 12.30 of SEBI
Master Circular SEBI/HO/IMD/IMD-PoD-1/P/CIR/2023/74 dated May 19, 2023.

• Every mutual fund shall buy and sell securities on the basis of deliveries and shall in all cases
of purchases, take delivery of relative securities and in all cases of sale, deliver the securities.

• Every mutual fund shall get the securities purchased or transferred in the name of the mutual
fund on account of the concerned scheme, wherever investments are intended to be of long-
term nature.

• The Scheme shall not make any investment in: a) Any unlisted security of an associate or
group company of the Sponsor; or b) Any security issued by way of private placement by an
associate or group company of the sponsor; or c) The listed securities of group companies of
the Sponsor which is in excess of 25% of the net assets.

• No scheme of a mutual fund shall make any investment in any fund of funds scheme.

• The Mutual Fund having an aggregate of securities which are worth Rs.10 crores or more, as
on the latest balance sheet date, shall subject to such instructions as may be issued from time
to time by SEBI, settle their transactions entered on or after January 15, 1998 only through
dematerialized securities. Further, all transactions in government securities shall be in
dematerialized form.

• A scheme may invest in another scheme under the same asset management company or any
other mutual fund without charging any fees, provided that aggregate interscheme investment
made by all schemes under the same management or in schemes under the management of
any other asset management company shall not exceed 5% of the net asset value of the
mutual fund.

• In terms of Regulation 44 (2) of the Securities and Exchange Board of India (Mutual Funds)
Regulations, 1996, the Fund shall not borrow except to meet temporary liquidity needs of the
Fund for the purpose of Repurchase/Redemption of Unit or payment of interest and/or
Dividend to the Unit holder. The Fund shall not borrow more than 20% of the net assets of
the individual Plans and the duration of the borrowing shall not exceed a period of 6 months.

• No mutual fund under all its schemes should own more than ten per cent of any company’s
paid up capital carrying voting rights.

• No mutual fund scheme shall invest more than 10 per cent of its NAV in the equity shares or
equity related instruments of any company:

Provided that, the limit of 10 per cent shall not be applicable for investments in index fund or
sector or industry specific scheme.

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 • The Scheme will not advance any loan for any purpose.

• The Scheme shall not invest into derivative instruments.

• The Scheme may invest in another scheme under the same asset management company or any
other mutual fund without charging any fees, provided that aggregate inter-scheme investment
made by all schemes under the management or in schemes under the management of any other
asset management company shall not exceed 5% of the NAV of the mutual fund.

• The investment of mutual fund schemes in below instruments shall not exceed 10% of the debt
portfolio of the schemes and the group exposure in such instruments shall not exceed 5% of the
debt portfolio of the schemes:
a) Unsupported rating of debt instruments (i.e. without factoring-in credit enhancements) is below
investment grade and
b) Supported rating of debt instruments (i.e. after factoring-in credit enhancement) is above
investment grade.

• Investment in debt instruments, having credit enhancements backed by equity shares directly or
indirectly, shall have a minimum cover of 4 times considering the market value of such shares.

• The Scheme does not propose to underwrite issuances of securities of other issuers.

• There will be no exposure to securitized debt securities in the portfolio.

The Scheme will comply with SEBI regulations and any other regulations applicable to the investments
of Funds from time to time. The Trustee may alter the above restrictions from time to time to the extent
that changes in the regulations may allow. All investment restrictions shall be applicable at the time of
making investment.

The Trustee may alter the above restrictions from time to time to the extent that changes in the
Regulations may allow and as deemed fit in the general interest of the Unit Holders.

Apart from the investment restrictions prescribed under SEBI (MF) Regulations, the Fund does not
follow any internal norms vis-à-vis limiting exposure to a particular scrip or sector etc.

C. Fundamental Attributes

Following are the Fundamental Attributes of the scheme, in terms of Clause 1.14 of SEBI Master
Circular for Mutual Funds dated May 19, 2023:

(i) Type of a scheme

An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit.

The Scheme has been prepared in accordance with the notifications dated November 3, 2005 and
December 13, 2005 issued by the Department of Economic affairs, Ministry of Finance, Government
of India. Eligible Investors in the Scheme (who are “Assesse” as per the ELSS Rules) are entitled to
deductions of the amount invested in Units of the Scheme to such extent (presently Rs. 1,50,000/- &
which may change from time to time, subject to notifications issued in this behalf) under Section 80C

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 of the Income Tax Act, 1961 and subject to such conditions as may be notified from time to time. The
Scheme is an Equity Linked Savings Scheme and intends to meet the requirements of any other
notifications/ regulations that may be prescribed by the Government/ regulatory bodies from time to
time.

(ii) Investment Objective:

The investment objective of the scheme is to generate long-term capital appreciation from a diversified
portfolio of predominantly equity and equity related instruments. The Scheme does not guarantee or assure
any returns.

• Main Objective - Growth & Income

• Investment pattern

Asset allocation:
Under normal circumstances, the asset allocation will be as follows:

Types of Instruments Indicative allocation

(% of total assets)
Minimum Maximum
Equity and Equity Related Instruments* 80 100
Debt Instruments, Money Market Instruments, G-Secs,
0 20
Cash, CBLO, Reverse Repo, etc.
*Equity and Equity related instruments include convertible debentures, equity warrants, convertible
preference shares, etc.

Subject to SEBI (MF) Regulations, the asset allocation pattern indicated above may change from time
to time, keeping in view market conditions, market opportunities, applicable regulations and political
and economic factors. It must be clearly understood that the percentages can vary substantially
depending upon the perception of the Investment Manager; the intention being at all times to seek to
protect the interests of the Unit holders. As per clause 2.9 of SEBI Master Circular dated May 19, 2023
such changes in the investment pattern will be for short term and for defensive consideration only. In
the event of deviations, portfolio rebalancing will be carried out within 30 calendar days in such cases.

In the event of deviation from mandated asset allocation mentioned above due to passive breaches, the
rebalancing will be carried out in 30 business days. Where the portfolio is not rebalanced within 30
business days, justification for the same including details of efforts taken to rebalance the portfolio shall
be placed before the Investment Committee and reasons for the same shall be recorded in writing. The
Investment Committee, if so desires, can extend the timelines up to sixty (60) business days from the
date of completion of mandated rebalancing period in accordance with clause 2.9.2 of SEBI Master
Circular dated May 19, 2023. However, at all times the portfolio will adhere to the overall investment
objectives of the Scheme.

(iii) Terms of Issue

• Listing:

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 The Scheme being open ended, the Units are not proposed to be listed on any stock exchange and
no transfer facility on the exchange is provided. However, the Trustee reserves the right to list the
units as and when open-end Schemes are permitted to be listed under the Regulations, and if the
Trustee considers it necessary in the interest of unit holders of the Scheme.

• Redemption:

The Unit Holder has the option to request for Redemption either in amount in rupees or in number
of Units. The minimum redemption amount shall be ‘any amount’ or ‘any number of units’ as
requested by the investor at the time of redemption request.

Redemption Price:

The Redemption Price of the Units is the price at which a Unit Holder can redeem Units of a scheme.
It will be calculated as described below:

Redemption Price = Applicable NAV - (Applicable NAV x Exit Load*)

* Exit Load, whatever is applicable, will be charged.

Redemption Price will be calculated for up to three decimal places for the Scheme.

For example, if the Applicable NAV of a Scheme is Rs.10.5550, and it has a 2% Exit Load, the
Redemption Price will be calculated as follows:

Redemption Price = 10.5550 - (10.5550 X 2.00%) i.e. 10.4550 - 0.2110 = 10.3440

If the Scheme has no Exit Load, the Redemption Price will be equal to the Applicable NAV.

The Securities Transaction Tax levied under the Income Tax Act, 1961, at the applicable rate on the
amount of redemption will be reduced from the amount of redemption.

To illustrate:

If a Redemption of 4,900 units is sought by the Unit Holder at a Redemption Price of Rs. 10.3440 (as
calculated above), the redemption amount is Rs. 50,685.60. Securities Transaction Tax (STT) for
instance is 0.001%. This will be further reduced by the STT of Re. 0.50 (i.e. Rs. 50,685.60 x 0.001%),
making the net redemption amount Rs. 50,685.10.

If a Redemption of Rs. 10,000 is sought by the Unit Holder at a Net Redemption Price of Rs. 10.3440
(as calculated above), which will give 966.744 Units; the effective redemption amount will be grossed
up to Rs. 10,204.08 (i.e. 10,000 ÷ (1-2%)) and 966.744 units (10,204.08 ÷ 10.555) will be redeemed.
This is to ensure that the Unit Holder receives the net amount of Rs. 10,000 as desired.

Investors may note that the Trustee has a right to modify the existing Load structure in any manner
subject to a maximum as prescribed under the Regulations and with prospective effect only.

Please refer section – LOAD STRUCTURE.

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 Applicable NAV for Redemption / Switch-Out / Systematic Transfer Plan:
• In respect of valid Redemption applications accepted at a Designated Collection Centre up to 3
p.m. on a Business Day, the NAV of such day will be applicable.
In respect of valid Redemption applications accepted at a Designated Collection Centre after 3 p.m.
on a Business Day, the NAV of the next Business Day will be applicable.

• Aggregate fees and expenses charged to the scheme: For detailed fees and expenses charged to
the scheme please refer to section- I Part - III ‘C – Annual Scheme Recurring Expenses’.

• Any safety net or guarantee provided: There is no assurance OR guarantee of returns.

In accordance with Regulation 18(15A) of the SEBI (MF) Regulations and Clause 1.14.1.4 of
SEBI Master Circular for Mutual Funds dated May 19, 2023 the Trustees shall ensure that no
change in the fundamental attributes of the Scheme(s) and the Plan(s) / Option(s) thereunder or
the trust or fee and expenses payable or any other change which would modify the Scheme(s)
and the Plan(s) / Option(s) thereunder and affect the interests of Unitholders is carried out unless:
• SEBI has reviewed and provided its comments on the proposal

• A written communication about the proposed change is sent to each Unitholder and an
advertisement is given in one English daily newspaper having nationwide circulation as well
as in a newspaper published in the language of the region where the Head Office of the
Mutual Fund is situated; and

• The Unitholders are given an option for a period of atleast 30 calendar days to exit at the
prevailing Net Asset Value without any exit load.

D. Other Scheme Specific Disclosures:

Listing and transfer of units The Schemes being open ended, the Units are not proposed
to be listed on any stock exchange and no transfer facility is
provided. However, the AMC/Trustee reserves the right to
list the units as and when the AMC/Trustee considers it
necessary in the interest of Unitholders of the Scheme.

Dematerialization of units Pursuant to clause 14.4.2 of SEBI Master Circular dated May
19, 2023, an option to subscribe in dematerialized (demat)
form the units of all the Scheme(s)/Plan(s)/Options(s) is
provided to the investors effective October 1, 2011.

Consequently, the Unit holders under the Scheme(s)/Plan(s)

/Options(s) shall have an option to subscribe/ hold the Units
in demat form in accordance with the provisions laid under
the respective Scheme(s)/Plan(s)/Options(s) and in terms of
the guidelines/ procedural requirements as laid by the
Depositories (NSDL/CDSL) from time to time. If the demat
account details are found to be invalid, the investor shall
continue to hold the units in physical form.

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In case, the Unit holder desires to hold the Units in a
Dematerialized / Rematerialized form at a later date, the
request for conversion of units held in non-demat form into
Demat (electronic) form or vice-versa should be submitted
along with a Demat/ Remat Request Form to their Depository
Participants.

The option to subscribe/hold units in demat option is available

for SIP transactions. However, the units shall be allotted based
on the applicable NAV as per the SID and shall be credited to
investors demat account on weekly basis upon realization of
funds. For e.g. Units will be credited to investors demat
account every Monday for realization status received in last
week from Monday to Friday.

Investors may kindly note that, no statement of account will

be generated by the Registrar & Transfer Agent (‘Kfin’) and
all those folios for which demat conversion request is received
will be blocked for generation of statement of account.
Investors may kindly note that if folio number is provided
along with additional subscription (against demat folio), the
same will be treated as new transaction and fresh folio will be
created.

The DPs shall send the unit balances / confirmations to the

investors. The Investors have to approach his/ her DP for all
change request updates /holding statements. The R&T of the
Mutual Fund shall not accept any requests for change from
the investors. Investors shall also note that partial allotment /
conversion of units to Demat within the scheme shall not be
permitted.

UNITS HELD IN DEMAT FORM WILL BE

TRANSFERABLE SUBJECT TO THE PROVISIONS
LAID UNDER THE RESPECTIVE
SCHEME(S)/PLAN(S) AND IN ACCORDANCE WITH
PROVISIONS OF DEPOSITORIES ACT, 1996 AND
THE SECURITIES AND EXCHANGE BOARD OF
INDIA (DEPOSITORIES AND PARTICIPANTS)
REGULATIONS, 2018 AS MAY BE AMENDED FROM
TIME TO TIME.

For further details kindly refer Section ‘II How to Apply?’

on ‘Option to Subscribe/hold units in dematerialized (demat)
form’.

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Dividend Policy (IDCW) he IDCW warrants shall be dispatched to the unit holders
within 7 working days from the record date.

In case of Unit Holder having a bank account with certain

banks with which the Mutual Fund would have made
arrangements from time to time, the IDCW proceeds shall be
directly credited to their account.

The IDCW will be paid by warrant and payments will be

made in favor of the Unit holder (registered holder of the
Units or, if there is more than one registered holder, only to
the first registered holder) with bank account number
furnished to the Mutual Fund (please note that it is mandatory
for the Unit holders to provide the Bank account details as per
the directives of SEBI).

Further, the IDCW proceeds may be paid by way of

ECS/EFT/NEFT/RTGS/any other manner through which the
investor’s bank account specified in the Registrar & Transfer
Agent’s records is credited with the IDCW proceeds as per
the instructions of the Unit holders.

In case the delay is beyond seven working days, then the

AMC shall pay interest @ 15% p.a. from the expiry of seven
working days till the date of dispatch of the warrant.
Allotment The AMC shall send an allotment confirmation specifying the
units allotted by way of e-mail and/or SMS within 5 Business
Days of receipt of valid application to the Unit holders
registered e-mail address and/or mobile number.

In case of specific request received from investors, Mutual

Fund shall provide the account statement to the investors
within 5 working days from the receipt of such request
without any charges.

Allotment of Units and dispatch of Account Statements to

FPIs will be subject to RBI approval, if required.

For investors who have given Demat account details in the

application form, the Units issued by the AMC shall be
credited by the Registrar to the investors’ beneficiary
account with the DP as per information provided in the
application form and information of allotment will be
accordingly sent by the Registrar.

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 The Units will be computed and accounted for up to whole
numbers (complete integers) only and no fractional units will
be allotted for all Subscriptions/Application Money.

If any fractional units are calculated as a result of the switch

application, the units in the resultant scheme would be
allotted to the extent of the entire such application money
from the source scheme and will be computed and accounted
for up to 3 decimal places and that no refund shall be
paid/refunded to the investor for said such fractional Units.
Accordingly, the clause for multiples of Re.1 will not be
applicable for switch transactions both during On-Going
basis.

Who can invest • Indian resident adult individuals, either singly or jointly
This is an indicative list and investors (not exceeding three);
shall consult their financial advisor to • Minor through parent / lawful guardian; (please see the
ascertain whether the scheme is note below)
suitable to their risk profile. • Companies, bodies corporate, public sector undertakings,
association of persons or bodies of individuals and
societies registered under the Societies Registration Act,
1860;
• Partnership Firms constituted under the Partnership Act,
1932;
• Limited Liability Partnerships (LLP);
• A Hindu Undivided Family (HUF) through its Karta;
• Banking Company as defined under the Banking
Regulation Act, 1949;
• Banks (including Co-operative Banks and Regional Rural
Banks) and Financial Institutions;
• Public Financial Institution as defined under the
Companies Act, 1956;
• Insurance Company registered with the Insurance
Regulatory and Development Authority (IRDA);
• Non-Resident Indians (NRIs) / Persons of Indian Origin
(PIO) on full repatriation basis or on non-repatriation
basis;
• Foreign Portfolio Investors (FPI) (including overseas
ETFs, Fund of Funds) registered with SEBI on repatriation
basis;
• Mutual Funds/ Alternative Investment Funds registered
with SEBI
• Army, Air Force, Navy and other para-military funds and
eligible institutions;
• Scientific and Industrial Research Organizations;
• Provident / Pension / Gratuity and such other Funds as and
when permitted to invest;

Page 42 of 56
 • International Multilateral Agencies approved by the
Government of India / RBI; and
• The Trustee, AMC or Sponsor or their associates (if
eligible and permitted under prevailing laws).
• A Mutual Fund through its schemes if permitted by the
regulatory authorities.
• Special Purpose Vehicles (SPVs) approved by appropriate
authority (subject to RBI approval).
• Religious and Charitable Trusts, Wakfs or endowments of
private trusts (subject to receipt of necessary approvals as
required) and Private Trusts authorized to invest in mutual
fund schemes under their trust deeds;
• Qualified Foreign Investors subject to the conditions
prescribed by SEBI, RBI, Income Tax authorities and the
AMC, from time to time on repatriation basis.
• Such other individuals/institutions/body corporate etc., as
may be decided by the AMC from time to time, so long as
wherever applicable they are in conformity with SEBI
Regulations/RBI, etc.

Note: 1.
Minor Unit Holder on becoming major may inform the
Registrar about attaining majority and provide his specimen
signature duly authenticated by his banker as well as his details
of bank account and a certified true copy of the PAN card as
mentioned under the paragraph “Anti Money Laundering and
Know Your Customer” to enable the Registrar to update their
records and allow him to operate the Account in his own right.

Note 2. Applicants under Power of Attorney:

An applicant willing to transact through a power of attorney
must lodge the photocopy of the Power of Attorney (PoA)
attested by a Notary Public or the original PoA (which will be
returned after verification) within 30 Days of submitting the
Application Form / Transaction Slip at a Designated
Collection Centre. Applications are liable to be rejected if the
power of attorney is not submitted within the aforesaid period.
Who cannot invest It should be noted that the following entities cannot invest in
the scheme:
• Any individual who is a foreign national or any other
entity that is not an Indian resident under the Foreign
Exchange Management Act, 1999, except where
registered with SEBI as a FPI. However, there is no
restriction on a foreign national from acquiring Indian
securities provided such foreign national meets the
residency tests as laid down by Foreign Exchange
Management Act, 1999.

Page 43 of 56
 • Overseas Corporate Bodies (OCBs) shall not be allowed
to invest in the Scheme. These would be firms and
societies which are held directly or indirectly but
ultimately to the extent of at least 60% by NRIs and trusts
in which at least 60% of the beneficial interest is similarly
held irrevocably by such persons (OCBs.)
• Non-Resident Indians residing in the Financial Action
Task Force (FATF) Non-Compliant Countries and
Territories (NCCTs)
• “U.S. Person” under the U.S. Securities Act of 1933 and
corporations or other entities organized under the laws of
U.S.
• Residents of Canada or any Canadian jurisdiction under
the applicable securities laws.
• The Fund reserves the right to include / exclude new /
existing categories of investors to invest in the Scheme
from time to time, subject to SEBI Regulations and other
prevailing statutory regulations, if any.

Subject to the Regulations, any application for subscription of

Units may be accepted or rejected if found incomplete or due
to unavailability of underlying securities, etc. For example, the
Trustee may reject any application for the Purchase of Units if
the application is invalid or incomplete or if, in its opinion,
increasing the size of any or all of the Scheme's Unit capital is
not in the general interest of the Unit Holders, or if the Trustee
for any other reason does not believe that it would be in the
best interest of the Scheme or its Unit Holders to accept such
an application.

The AMC / Trustee may need to obtain from the investor

verification of identity or such other details relating to a
subscription for Units as may be required under any applicable
law, which may result in delay in processing the application.
How to apply and other details Application form and Key Information Memorandum may be
obtained from Official Points of Acceptance (OPAs) / Investor
Service Centres (ISCs) of the AMC or RTA or Distributors or
can be downloaded from our website
www.miraeassetmf.co.in.

The list of the OPA / ISC are available on our website as well.

Investors intending to trade in Units of the Schemes, through

the exchange platform will be required to provide demat
account details in the application form.

Registrar & Transfer Agent:

Page 44 of 56
KFin Technologies Limited (Formerly known as “Karvy
Fintech Private Limited”)

Registered Office:
Karvy Selenium, Tower B, Plot Number 31 & 32, Financial
District, Gachibowli, Hyderabad - 500 034.

Contact Persons:
Mr. Babu PV
Tel No. : 040 3321 5237
Email Id : babu.pv@kfintech.com

Mr. 'P M Parameswaran'

Tel No. : 040 3321 5396
Email Id : parameswaran.p@kfintech.com

Website address: https://mfs.kfintech.com/mfs/

Branches:
Applications can be submitted at collecting bankers and
Investor Service Centers of Mirae Asset Investment Managers
(India) Pvt. Ltd and KFin Technologies Limited. Details of
which are furnished on back cover page of this document.

2. Please refer the AMC website at the following link for the
list of official points of acceptance, collecting banker details
etc.: https://www.miraeassetmf.co.in/downloads/statutory-
disclosure/other-disclosure/offer-documents-data

Website of the AMC:

Investor can also subscribe to the Units of the Scheme through
the website of the AMC i.e.
https://www.miraeassetmf.co.in/investor-center/investor-
services

Stock Exchanges:
A Unit holder may purchase Units of the Scheme through the
Stock Exchange infrastructure. Investors can hold units only
in dematerialized form.

MF Utility (MFU):
A unitholder may purchase units of the Plan(s) under the
Scheme through MFU.

All financial and non-financial transactions pertaining to

Schemes of Mirae Asset Mutual Fund can also be submitted
through MFU either electronically or physically through the
authorized Points of Service (“POS”) of MFUI. The list of

Page 45 of 56
 POS of MFUI is published on the website of MFUI at
www.mfuindia.com and may be updated from time to time.

Investors to note that it is mandatory to mention the bank

account numbers in the applications/requests for redemption.

Please refer to the SAI and application form for the

instructions.

The policy regarding reissue of All units can be reissued without any limit by the Scheme.
repurchased units, including the
maximum extent, the manner of
reissue, the entity (the scheme or the
AMC) involved in the same.
Restrictions, if any, on the right to Right to Limit Redemptions of Units
freely retain or dispose of units being The fund shall at its sole discretion reserves the right to
offered. restrict Redemption (including switch-out) of the Units
(including Plan/Option) of the scheme(s) of the fund on the
occurrence of the below mentioned event for a period not
exceeding ten (10) working days in any ninety (90) days
period. The restriction on the Redemption (including switch-
out) shall be applicable where the Redemption (including
switch-out) request is for a value above Rs. 2,00,000/-
(Rupees Two Lakhs). Further, no restriction shall be
applicable for the Redemption/switch-out request upto Rs.
2,00,000/- (Rupees Two Lakhs). Further, in case of
redemption request beyond Rs. 2,00,000/- (Rupees Two
Lakhs), no restriction shall be applicable for first Rs.
2,00,000/- (Rupees Two Lakhs).

The restriction on redemption of the units of the Schemes may

be imposed when there are circumstances leading to a
systemic crisis or event that severely constricts market
liquidity or the efficient functioning of markets. A list of such
circumstances are as follows:
• Liquidity issues: when market at large becomes illiquid
affecting almost all securities rather than any issuer
specific security.
• Market failures, exchange closures - when markets are
affected by unexpected events which impact the
functioning of exchanges or the regular course of
transactions. Such unexpected events could also be related
to political, economic, military, monetary or other
emergencies
• Operational issues - when exceptional circumstances are
caused by force majeure, unpredictable operational
problems and technical failures (e.g. a black out).

Page 46 of 56
 • If so directed by SEBI

Since the occurrence of the abovementioned eventualities

have the ability to impact the overall market and liquidity
situations, the same may result in exceptionally large number
of Redemption being made and in such a situation the
indicative timeline (i.e. within 3 to 4 Business Days for
schemes other than liquid funds and within 1 Business Day
for liquid funds) mentioned by the Fund in the scheme
offering documents, for processing of request of Redemption
may not be applicable.

Any restriction on Redemption or suspend Redemption of the

Units in the scheme(s) of the Fund shall be made applicable
only after prior approval of the Board of Directors of the AMC
and Trustee Company and thereafter, immediately informing
the same to SEBI. The AMC / Trustee reserves the right to
change / modify the provisions of right to restrict Redemption
and / or suspend Redemption of the Units in the Scheme of the
Fund.
Cut off timing for subscriptions/ Cut-off time is the time before which the Investor’s
redemptions/ switches Application Form(s) (complete in all respects) should reach
the Official Points of Acceptance to be entitled to the
This is the time before which your Applicable NAV of that Business Day.
application (complete in all respects)
should reach the official points of An application will be considered accepted on a Business
acceptance. Day, subject to it being complete in all respects and received
and time stamped upto the relevant Cut-off time mentioned
below, at any of the Official Points of Acceptance of
transactions. Where an application is received and the time
stamping is done after the relevant Cut-off time the request
will be deemed to have been received on the next Business
Day.

Cut off timing for subscriptions/purchases/switch- ins:

i. In respect of valid applications received upto 3.00 p.m. at

the Official Point(s) of Acceptance and where the funds for
the entire amount of subscription / purchase/switch-ins as
per the application are credited to the bank account of the
Scheme before the cut-off time i.e. available for utilization
before the cut-off time- the closing NAV of the day shall
be applicable.
ii. In respect of valid applications received after 3.00 p.m. at
the Official Point(s) of Acceptance and where the funds for
the entire amount of subscription / purchase as per the
application are credited to the bank account of the Scheme
before the cut-off time of the next Business Day i.e.

Page 47 of 56
 available for utilization before the cut-off time of the next
Business Day - the closing NAV of the next Business Day
shall be applicable.
iii. Irrespective of the time of receipt of applications at the
Official Point(s) of Acceptance, where the funds for the
entire amount of subscription/purchase/ switch-ins as per
the application are credited to the bank account of the
Scheme before the cut-off time on any subsequent
Business Day i.e. available for utilization before the cut-
off time on any subsequent Business Day - the closing
NAV of such subsequent Business Day shall be applicable.

For Redemption/ Repurchases/Switch out:

• In respect of valid application accepted at an Official Points
of Acceptance up to 3 p.m. on a Business Day by the Fund,
the closing NAV of that day will be applicable.

In respect of valid application accepted at an Official Point of

Acceptance as listed in the SAI, after 3 p.m. on a Business Day
by the Fund, the closing NAV of the next Business Day will
be applicable
Minimum amount for Purchase: Rs. 500/- and in multiples of Rs. 500/- thereafter.
purchase/redemption/switches
Additional Purchase: Rs.500/- and in multiples of Re.500/-
thereafter.

AMC may revise the minimum/maximum amounts and the

methodology for new/additional subscriptions, as and when
necessary and subject to the ELSS Rules. Such change may be
brought about after taking into account the cost structure for a
transaction/account and /or Market practices and/or the
interest of existing Unit holders and/or ELSS Rules. Further,
such changes shall only be applicable to transactions from the
date of such a change, on a prospective basis.

Redemption: The minimum redemption amount shall be ‘any

amount’ or ‘any number of units’ as requested by the investor
at the time of redemption request. Redemption / switch out
shall be subject to compulsory lock in period of 3 years

Page 48 of 56
Accounts Statements The AMC shall send an allotment confirmation specifying the
units allotted by way of email and/or SMS within 5 working days
of receipt of valid application/transaction to the Unit holders
registered e-mail address and/ or mobile number (whether units
are held in demat mode or in account statement form).

A Consolidated Account Statement (CAS) detailing all the

transactions across all mutual funds (including transaction
charges paid to the distributor) and holding at the end of the
month shall be sent to the Unit holders in whose folio(s)
transaction(s) have taken place during the month by mail or email
on or before 15th of the succeeding month.

Half-yearly CAS shall be issued at the end of every six months

(i.e. September/ March) on or before 21st day of succeeding
month, to all investors providing the prescribed details across all
schemes of mutual funds and securities held in dematerialized
form across demat accounts, if applicable

For further details, refer SAI.

Dividend/ IDCW The payment of dividend/IDCW to the unitholders shall be

made within seven working days from the record date.
Redemption The redemption or repurchase proceeds shall be dispatched to the
unitholders within three working days from the date of
redemption or repurchase.

For list of exceptional circumstances refer para 14.1.3 of SEBI

Master Circular for Mutual Funds dated May 19, 2023

Bank Mandate It is mandatory for every applicant to provide the name of the
bank, branch, address, account type and number as per SEBI
requirements and any Application Form without these details
will be treated as incomplete. Such incomplete applications
will be rejected. The Registrar / AMC may ask the investor to
provide a blank cancelled cheque or its photocopy for the
purpose of verifying the bank account number.
Delay in payment of redemption / The Asset Management Company shall be liable to pay interest
repurchase proceeds/dividend to the unitholders at rate as specified vide clause 14.2 of SEBI
Master Circular for Mutual Funds dated May 19, 2023 by SEBI
for the period of such delay
Unclaimed Redemption and Income As per the Clause 14.3 of SEBI Master Circular
Distribution cum Capital Withdrawal SEBI/HO/IMD/IMD-PoD-1/P/CIR/2023/74 dated May 19,
Amount 2023, the unclaimed Redemption and IDCW amounts shall be
deployed by the Fund in call money market or money market
instruments and in a separate plan of Liquid scheme / Money
Market Mutual Fund scheme floated by Mutual Funds
specifically for deployment of the unclaimed amounts. The

Page 49 of 56
 investment management fee charged by the AMC for
managing such unclaimed amounts shall not exceed 50 basis
points. The AMCs shall not be permitted to charge any exit
load in this plan.

Provided that such schemes where the unclaimed redemption

and IDCW amounts are deployed shall be only those
Overnight scheme/ Liquid scheme / Money Market Mutual
Fund schemes which are placed in A-1 cell (Relatively Low
Interest Rate Risk and Relatively Low Credit Risk) of
Potential Risk Class matrix as per Clause 17.5 of SEBI Master
Circular dated May 19, 2023.

The investors who claim these amounts during a period of

three years from the due date shall be paid at the prevailing
NAV. After a period of three years, this amount can be
transferred to a pool account and the investors can claim the
said amounts at the NAV prevailing at the end of the third year.
In terms of the circular, the onus is on the AMC to make a
continuous effort to remind investors through letters to take
their unclaimed amounts.

The website of Mirae Asset Mutual Fund also provides

information on the process of claiming the unclaimed amount
and the necessary forms / documents required for the same.

The details of such unclaimed amounts are also disclosed in

the annual report sent to the Unit Holders.

Important Note: All applicants must provide a bank name,

bank account number, branch address, and account type in the
Application Form.
Disclosure w.r.t investment by minors • Payment for investment by any mode shall be accepted from
the bank account of the minor, parent or legal guardian of
the minor, or from a joint account of the minor with parent
or legal guardian.
• Irrespective of the source of payment for subscription, all
redemption proceeds shall be credited only in the verified
account of the minor i.e. the account the minor may hold
with the parent/ legal guardian after completing all KYC
formalities.
• The AMC will send an intimation to Unit holders advising
the minor (on attaining majority) to submit an application
form along with prescribed documents to change the status
of the account from ‘minor’ to ‘major’.
• All transactions / standing instructions / systematic
transactions etc. will be suspended i.e. the Folio will be
frozen for operation by the guardian from the date of
beneficiary child completing 18 years of age, till the status

Page 50 of 56
 of the minor is changed to major. Upon the minor attaining
the status of major, the minor in whose name the investment
was made, shall be required to provide all the KYC details,
updated bank account details including cancelled original
cheque leaf of the new bank account.
• No investments (lumpsum/ switch in etc.) in the scheme
would be allowed once the minor attains majority i.e. 18
years of age.

Please refer SAI for details on Transmission of Units.

Investments in Scheme by AMC, Subject to the Regulations, the AMC and investment
Sponsor & Associates companies managed by the Sponsor(s), their associate
companies and subsidiaries may invest either directly or
indirectly, in the Scheme during the NFO and/or on ongoing
basis. However, the AMC shall not charge any investment
management fee on such investment in the Scheme, in
accordance with sub-regulation 3 of Regulation 24 of the
Regulations and shall charge fees on such amounts in future
only if the SEBI Regulations so permit. The associates, the
Sponsor, subsidiaries of the Sponsor and/or the AMC may
acquire a substantial portion of the Scheme’s units and
collectively constitute a major investment in the Schemes. The
AMC reserves the right to invest its own funds in the Scheme
as may be decided by the AMC from time to time and required
by applicable regulations and also in accordance with Clause
6.11 of SEBI Master Circular SEBI/HO/IMD/IMD-PoD-
1/P/CIR/2023/74 dated May 19, 2023 regarding minimum
number of investors in the Scheme.

In terms of SEBI notification dated August 5, 2021 and as per

Regulation 25, sub-regulation 16A of SEBI (Mutual Funds)
Regulations, the asset management company shall invest such
amounts in such schemes of the mutual fund, based on the risks
associated with the schemes, as may be specified by SEBI
from time to time

III. Other Details

A. Periodic Disclosures

Half yearly Disclosures: Financial Results

The AMC/Mutual Fund shall within one month from the close of each half year, that is on March
31st and on September 30th, host a soft copy of its unaudited financial results on their website
https://www.miraeassetmf.co.in/downloads/statutory-disclosure/financials. The half-yearly unaudited
financial results shall contain details as specified in Twelfth Schedule of the SEBI (Mutual Funds)

Page 51 of 56
Regulations, 1996 and such other details as are necessary for the purpose of providing a true and fair
view of the operations of Mirae Asset Mutual Fund.

The AMC/Mutual Fund shall publish an advertisement disclosing the hosting of unaudited financial
results on their website www.miraeassetmf.co.in in at least one English daily newspaper having
nationwide circulation and in a newspaper having wide circulation published in the language of the
region where the Head Office of the Mutual Fund is situated.

The mutual fund shall publish an advertisement in the all India edition of at least two daily newspapers,
one each in English and Hindi, disclosing the hosting of the half-yearly statement of the Scheme
portfolio on its website and on the website of Association of Mutual Funds in India (AMFI). The AMC
will provide a physical copy of the statement of its Scheme portfolio, without charging any cost, on
specific request received from a unitholder.

Annual Report

Pursuant to Regulation 56 of SEBI (Mutual Funds) Regulations, 1996 read with Clause 5.4 of SEBI
Master Circular SEBI/HO/IMD/IMD-PoD-1/P/CIR/2023/74 dated May 19, 2023, the scheme wise
annual report or abridged summary thereof will be hosted on the website of the Mirae Asset Mutual
Fund viz. https://www.miraeassetmf.co.in/downloads/statutory-disclosure/financials and on the
website of AMFI, not later than four months after the close of each financial year (31st March). The
AMCs shall display the link prominently on the website of the Mirae Asset Mutual Fund viz.
https://miraeassetmf.co.in and make the physical copies available to the unitholders, at their registered
offices at all times. Unit holders whose e-mail addresses are not registered will have to specifically
‘opt in’ to receive physical copy of scheme wise annual report or abridged summary thereof. The unit
holders may request for a physical copy of scheme annual reports at a price and the text of the relevant
scheme by writing to the Mirae Asset Investment Managers (India) Pvt Ltd. / Investor Service Centre
/ Registrar & Transfer Agents. The Mutual Fund / AMC shall provide a physical copy of abridged
report of the annual report, without charging any cost, on specific request received from a unit holder.
An advertisement shall be published every year disclosing the hosting of the scheme wise annual report
on website of Mirae Asset Mutual Fund and on the website of AMFI and the modes such as SMS,
telephone, email or written request (letter) through which a unitholder can submit a request for a
physical or electronic copy of the scheme wise annual report or abridged summary thereof. Such
advertisement shall be published in the all India edition of at least two daily newspapers, one each in
English and Hindi.

Monthly/Half Yearly Portfolio Disclosures:

The Mutual Fund/ AMC will disclose portfolio (along with ISIN) of the Scheme in the prescribed
format, as on the last day of the month / half-year i.e. March 31 and September 30, on its website viz.
https://www.miraeassetmf.co.in/downloads/portfolio and on the website of Association of Mutual
Funds in India (AMFI) viz. www.amfiindia.com within 10 days from the close of each month/ half
year respectively. In case of unitholders whose e-mail addresses are registered, the Mutual Fund/ AMC
will send via email both the monthly and half yearly statement of scheme portfolio within 10 days from
the close of each month/ half year respectively. Mutual Fund / AMC will publish an advertisement
every half year in the all India edition of at least two daily newspapers, one each in English and Hindi,
disclosing the hosting of the half-yearly statement of the Scheme portfolio on its website and on the
website of Association of Mutual Funds in India (AMFI). Mutual Fund / AMC will provide a physical

Page 52 of 56
copy of the statement of its Scheme portfolio, without charging any cost, on specific request received
from a unitholder.

Monthly Average Asset under Management (Monthly AAUM) Disclosure

The Mutual Fund shall disclose the Monthly AAUM under different categories Schemes as specified
by SEBI in the prescribed format on a monthly basis on its website viz.
https://www.miraeassetmf.co.in/downloads/statutory-disclosure/other-disclosure and forward to AMFI
within 7 working days from the end of the month.

Scheme Summary Document

The AMC has provided on its website a standalone scheme document for all the Schemes which
contains all the details of the Scheme viz. Scheme features, Fund Manager details, investment details,
investment objective, expense ratios, portfolio details, etc. Scheme summary document is uploaded on
the websites of AMC viz. https://www.miraeassetmf.co.in/downloads/statutory-disclosure/other-
disclosure, AMFI and stock exchanges in 3 data formats i.e. PDF, Spreadsheet and a machine readable
format (either JSON or XML). The document shall be updated by the AMCs on a monthly basis or on
changes in any of the specified fields, whichever is earlier.

Product Labeling and Risk-o-meter:

The Risk-o-meter shall have following six levels of risk:

1. Low Risk
2. Low to Moderate Risk
3. Moderate Risk
4. Moderately High Risk
5. High Risk and
6. Very High Risk

The evaluation of risk levels of a scheme shall be done in accordance with clause 17.4 of SEBI Master
Circular dated May 19, 2023.

Any change in risk-o-meter shall be communicated by way of Notice cum Addendum and by way of
an e-mail or SMS to unitholders. The risk-o-meter shall be evaluated on a monthly basis and the risk-
o-meter along with portfolio disclosure shall be disclosed on the AMC website viz.
https://www.miraeassetmf.co.in/downloads/portfolio as well as AMFI website within 10 days from the
close of each month.

The AMC shall disclose the risk level of schemes as on March 31 of every year, along with number of
times the risk level has changed over the year, on its website viz.
https://www.miraeassetmf.co.in/downloads/statutory-disclosure/other-disclosure and AMFI website.

Further, in accordance with clause 5.16 of SEBI Master Circular dated May 19, 2023, the AMC shall
disclose:

a. risk-o-meter of the scheme wherever the performance of the scheme is disclosed;

b. risk-o-meter of the scheme and benchmark wherever the performance of the scheme vis-à-vis that
of the benchmark is disclosed.

Page 53 of 56
c. scheme risk-o-meter, name of benchmark and risk-o-meter of benchmark while disclosing portfolio
of the scheme.

B. Transparency/NAV Disclosure

NAVs will be disclosed at the close of each business day. NAV of the Units of the Scheme (including
options there under) calculated in the manner provided in this SID or as may be prescribed by the
Regulations from time to time.

The NAV will be computed upto 3 decimal places.

In accordance with clause 8.1 of SEBI Master Circular dated May 19, 2023, the NAV of the scheme
shall be uploaded on the websites of the AMC (miraeassetmf.co.in) and Association of Mutual Funds
in India (www.amfiindia.com) by 11.00 p.m. on every business day. In case of any delay, the reasons
for such delay would be explained to AMFI and SEBI by the next day. If the NAVs are not available
before commencement of business hours on the following day due to any reason, the Fund shall issue
a press release providing reasons and explaining when the Fund would be able to publish the NAVs.

A. Transaction charges and stamp duty-

SEBI with the intent to enable investment by people with small saving potential and to increase reach
of Mutual Fund products in urban areas and in smaller towns, wherein the role of the distributor is vital,
has allowed AMCs under clause 10.5. of SEBI Master Circular SEBI/HO/IMD/IMD-PoD-
1/P/CIR/2023/74 dated May 19, 2023 to deduct transaction charges for subscription of Rs. 10,000/- and
above. The said transaction charges will be paid to the distributors of the Mutual Fund products (based
on the type of product).

In accordance with the said circular, AMC / Mutual Fund will deduct the transaction charges from the
subscription amount and pay to the distributors (based on the type of product and those who have opted
to receive the transaction charges) as shown in the table below. Thereafter, the balance of the
subscription amount shall be invested.

(i) Transaction charges shall be deducted for Applications for purchase/ subscription received by
distributor/ agent as under:

Investor Type Transaction Charges

First Time Transaction charge of Rs.150/- for subscription of Rs.10,000 and above will be
Mutual Fund deducted from the subscription amount and paid to the distributor/agent of the
Investor first time investor. The balance of the subscription amount shall be invested.
Investor other Transaction charge of Rs. 100/- per subscription of Rs, 10,000 and above will be
than First Time deducted from the subscription amount and paid to the distributor/ agent of the
Mutual Fund investor. The balance of the subscription amount shall be invested.
Investor

(ii) Transaction charges shall not be deducted for:

• Purchases /subscriptions for an amount less than Rs. 10,000/-; and
• Transactions other than purchases/ subscriptions relating to new inflows such as Switches, etc.
• Any purchase/subscription made directly with the Fund (i.e. not through any distributor/ agent).

Page 54 of 56
 • Transactions carried out through the stock exchange platforms.

Applicability of Stamp Duty:

Pursuant to Notification No. S. O. 1226 (E) and G.S.R 226(E) dated March 30, 2020 issued by
Department of Revenue, Ministry of Finance, Government of India, read with Part I of Chapter IV of
Notification dated February 21, 2019 issued by Legislative Department, Ministry of Law and Justice,
Government of India on the Finance Act, 2019, a stamp duty @ 0.005% of the transaction value shall
be levied on applicable mutual fund transactions.

Accordingly, pursuant to levy of stamp duty, the number of units allotted on purchase transactions
(including dividend reinvestment) to the unitholders would be reduced to that extent

For details refer in Statement of Additional Information (SAI).

C. Associate Transactions

Please refer to Statement of Additional Information (SAI)

D. Taxation

This Scheme is an Equity Linked Savings Scheme under which eligible Investors in the Scheme
(who are “Assesse” as per the ELSS Rules) are entitled to deductions of the amount invested in
Units of the Scheme to such extent (presently Rs. 1,50,000/-) under Section 80C of the Income
Tax Act, 1961 and subject to such conditions as may be notified from time to time.

For further details on taxation please refer to the clauses on Taxation in SAI.

E. Rights of Unitholders

Please refer to SAI for details.

F. List of official points of acceptance

https://www.miraeassetmf.co.in/downloads/statutory-disclosure/other-disclosure/offer-documents-
data

G. Penalties, Pending Litigation or Proceedings, Findings of Inspections or Investigations For

Which Action May Have Been Taken Or Is In The Process Of Being Taken By Any
Regulatory Authority

https://www.miraeassetmf.co.in/downloads/statutory-disclosure/other-disclosure/offer-documents-data

Notwithstanding anything contained in this SID, the provisions of the SEBI (Mutual Funds),
Regulations, 1996 and the guidelines thereunder shall be applicable.

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THE TERMS OF THE SCHEME WERE APPROVED BY THE DIRECTORS OF MIRAE
ASSET TRUSTEE COMPANY PRIVATE LIMITED VIDE CIRCULAR RESOLUTION
DATED AUGUST 05, 2015.

For and on behalf of the Board of Directors of

Mirae Asset Investment Managers (India) Private Limited

(Asset Management Company for Mirae Asset Mutual Fund)
Sd/-

Rimmi Jain
Compliance Officer

Place: Mumbai
Date: June 29, 2024

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