Annual Report for Monthly Income Schemes - Tata Mutual Fund

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Tata MIP Plus FundYear Ended31-Mar-13Rs.Year Ended31-Mar-12Rs.Schedule VII - Interest IncomeDebentures / Bonds / Asset Backed Securities 26,005,425 63,958,895Discounted Securities 17,534,384 7,211,854Government Securities 6,700,776 1,593,928Reverse Repos 5,015,119 4,617,528Other Deposits 3,254 3,63355,258,958 77,385,838
Schedules forming part of the AccountsSchedule VIII Statement of significant accounting policies and notes forming part of the financial statements of Tata MIP PlusFund as at and for the year ended 31st March, 2013.ABACKGROUNDTATA MIP PLUS FUND (the “Scheme”) is an open ended balanced scheme of Tata Mutual Fund (the “Fund”). The Fund is registeredwith the Securities and Exchange Board of India (“SEBI”). The Scheme is managed by Tata Asset Management Limited (“TAML” / the“Investment Manager”), an investment management company registered with SEBI. The investment objective of the scheme is to providereasonable and regular income along with possible capital appreciation to its unit holders.The scheme will invest in equity and equityrelated instruments as well as in debt and money market instruments. The Scheme is sponsored by Tata Sons Limited (“TSL”) and TataInvestment Corporation Limited (“TICL”). Tata Trustee Company Limited (“TTCL” / the “Trustee Company”) is the trustee company ofthe Scheme.BSIGNIFICANT ACCOUNTING POLICIES1.1 Basis of AccountingThe principle accounting policies applied in the presentation of these financial statements are set out below. These policies have beenconsistently applied to both the periods presented, unless otherwise stated.1.2 Preparation of Financial Statements of the SchemeThe financial statements of the Scheme have been prepared in accordance with the requirements of Securities and Exchange Board of India(Mutual Funds) Regulations, 1996 (the “SEBI Regulations”), the Ninth and Eleventh Schedules of which lay down the accountingpolicies and standards to be adopted and the disclosures to be made.The Expert Advisory Committee (the “EAC”) of the Institute of the Chartered Accountants of India (“ICAI”) have opined that theAccounting Standards on Cash Flow Statement (“AS-3”), Segment Reporting (“AS-17”) and Related Party Disclosures (“AS-18”) issuedby the ICAI are applicable to the financial statements of schemes of mutual funds. The managements of the Investment Manager and theTrustee Company are of the opinion that mutual funds are governed by a self-contained regulatory framework, i.e. the SEBI Regulations,based on which the financial statements have been prepared.The preparation of financial statements in conformity with the SEBI Regulations requires the use of certain critical accounting estimates. Italso requires the Board of Directors of the Investment Manager to exercise its judgement in the process of applying the Fund’s accountingpolicies.1.3 Portfolio Valuationa Recognition, de-recognition and measurementRegular purchases and sales of investments are recognised on the trade date - i.e. the date on which the Scheme's order of purchase or saleof investment is executed. Investments include contracts for purchase of securities and exclude contracts for sale of securities, for whichdeliveries are not received/collected.Investments purchased are initially recognised at cost of acquisition. Cost of acquisition includes transaction costs such as brokerage, stampcharges and other charges customarily included in the brokers note, but excludes pre-acquisition accrued interest which is classified as partof "Other Current Assets".Investments are derecognised when the rights to receive cash flows from the investments have expired or the Scheme has transferredsubstantially all the risks and rewards of ownership.
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Annual Report for Monthly Income Schemes - Tata Mutual Fund

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