Front Cover Page - Tata Mutual Fund

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TATA FLOATER FUND For further details on taxation please refer the clause on taxation in SAI. C. COMPUTATION OF NAV Net Asset Value (“NAV”) of the Units shall be determined daily as of the close of each Business Day. NAV shall be calculated in accordance with the following formula: Market Value of Scheme’s Investments + Accrued Income + Receivables + Other Assets – Accrued Expenses - Payables - Other Liabilities NAV= —————————————————————————————————————————————————————————————— Number of Units Outstanding The computation of Net Asset Value, valuation of Assets, computation of applicable Net Asset Value (related price) for ongoing Sale, Redemption, Switch and their frequency of disclosure shall be based upon a formula in accordance with the Regulations and as amended from time to time including by way of Circulars, Press Releases, or Notifications issued by SEBI or the Government of India to regulate the activities and growth of Mutual Funds. The NAVs of the fund shall be rounded off upto four decimals. The valuation of investments shall be based on the principles of fair valuation specified in the Schedule VIII of the SEBI (Mutual Funds) Regulations, 1996 and guidelines issued by SEBI /AMFI from time to time.* Please refer Para V. of SAI on ‘Investment valuation norms for securities & other assets’ for details. Each option of the Direct Plan will have a separate NAV. IV. FEES AND EXPENSES A. NEW FUND OFFER (NFO) EXPENSES The scheme was launched on 23 rd August, 2005. During the New Fund Offer Period i.e. from 23 rd August, 2005 to 5 th September, 2005, the new fund offer expenses were borne by the scheme. However, being an existing scheme provision of NFO expenses are not applicable for this scheme. B. ANNUAL SCHEME RECURRING EXPENSES The maximum recurring expenses of the scheme Tata Floater Fund is given in the table below: Ref Expenses Head % of Daily Net Assets # Investment Management and Advisory Fees 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 Cost of providing account statements and dividend redemption cheques and warrants Costs of statutory Advertisements Cost towards investor education & awareness (at least 2 bps) Brokerage & transaction cost over and above 12 bps and 5 bps for cash and derivative market trades resp. Service tax on expenses other than investment and advisory fees Service tax on brokerage and transaction cost Upto 2.25% (a) Maximum total expense ratio (TER) permissible under Regulation 52 (6) (c) (i) and (6) (a) Upto 2.25%* (b) Additional expenses under regulation 52 (6A) (c) Upto 0.20% (c) Additional expenses for gross new inflows from specified cities Upto 0.30%^ * Excluding service tax on investment and advisory fees 40
TATA FLOATER FUND # Note: Direct Plan shall have a lower expense ratio excluding distribution expenses, commission, etc & no commission for distribution of Units will be paid / charged under Direct Plan. Expense ratio for Direct Plan will be disclosed on the website of Tata Mutual Fund ’www.tatamutualfund.com’ ^ 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) (ii) Notes: 30 per cent of gross new inflows in the scheme, or; 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: 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. 1) It is envisaged that Tata Asset Management Ltd will bear all the expenses of the scheme(s) stated in clause (a) & (b) above except trustee fees. In case AMC decide to charge other expenses, which are permitted under regulation 52(4) of SEBI (Mutual Funds) Regulations 1996, the Investment Management & Advisory Fee, shall be reduced to that extent and AMC will appropriate disclosures about the same on its website. Service tax on other than investment and advisory fees and Trustee Fees shall be borne by the Asset Management Company. 2) The maximum recurring expenses shall be subject to following limits** a) on the first Rs.100 crores of the daily net assets : 2.45% b) on the next Rs.300 crores of the daily net assets : 2.20% c) on the next Rs.300 crores of the daily net assets : 1.95% d) on the balance of the assets : 1.70% ** including additional limit of 0.20% specified in sub regulation (6A)(c) of Regulation 52 of SEBI (Mutual Funds) Regulations, 1996. 3) In addition to the expenses indicated above, the following expenses will be charged to the scheme a) The scheme will bear the service tax on investment management & advisory fees b) 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: 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. 4) Brokerage & transaction costs (including service tax) which are incurred for the purpose of execution of trade may be capitalised to the extent of 12bps and 5bps for cash market transactions and derivatives transactions respectively. Service tax on brokerage and transaction cost paid for execution of trades shall be within the limit prescribed under regulation 52 of the SEBI (Mutual Funds) Regulations, 1996. Any payment towards brokerage and transaction cost, over and above the said 12 bps and 5bps for cash market transactions and derivatives transactions respectively may be charged to the scheme within the maximum limit of Total Expense Ratio (TER) as prescribed under regulation 52 of the SEBI (Mutual Funds) Regulations, 1996. Any expenditure in excess of the said prescribed limit (including brokerage and transaction cost, if any) shall be borne by the asset management company or by the trustee or sponsors. 5) AMC shall annually set apart atleast 2 basis point on daily net assets for investor’s education and awareness initiatives. 6) The investor should refer to the website of the mutual fund for the latest expense ratio of the scheme. C. LOAD STRUCTURE Load is an amount which is paid by the investor to subscribe to the units or to redeem the units from the scheme. As per the SEBI circular dated. June 30, 2009, there shall be no entry for all mutual fund schemes. With effect from 1st October 2012, Exit load collected, net of service tax, shall be credited to the scheme. All load collected prior to 1st October, 2012 may be utilized for marketing and distribution of units in accordance with SEBI guidelines. For the current applicable structure, please refer to the website of the AMC (www.tatamutualfund.com) or may call at (1800-209- 0101) or your distributor. Type of Load (SIP & non SIP) Entry Exit Load chargeable (as %age of NAV)* Not Applicable NIL 41
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