CO: BANCASSURANCE SERVICE CENTRE

Transcription

1 MAIN : CRA-139/ DT a SUB : ANC.SER-113 CO: BANCASSURANCE SERVICE CENTRE FILE M-4 S-404 Sub: Distribution of MF Schemes of UTI Mutual Fund Launching of UTI New Year Dhamaka 2013 Campaign w.e.f to * * * * * * * * * * Our Bank has distribution tie-up arrangement with UTI Asset Management Co Ltd (UTI MF) since Jan 2004 for selling their Mutual Fund products. In the current market conditions, majority of investments are happening through SIP route to derive optimum benefits and to mitigate equity market vagaries. To help such investors, UTI MF has launched a focussed campaign by name UTI NEW YEAR DHAMAKA 2013 for the period of TWO MONTHS w.e.f. 15 th JANUARY 2013 to 15 th MARCH 2013 to sell System Investment Plan (SIP) / Systematic Transfer Plan (STP) applications under its Equity Schemes as detailed in Annexure B. Campaign Target: A Campaign Target of 25,000 SIP / STP applications has been kept and the Zonal Targets are as furnished in Annexure A. The Zonal Offices in turn to fix the branch targets falling under their jurisdictions and will monitor the progress of achievement. Brokerage Structure & Incentives to Staff: In addition to the brokerage/upfront commission payable to the Bank as per Annexure B, UTI MF has offered incentives to our staff members for SIP / STP applications mobilised as per Annexure C. Branches must ensure furnishing the following particulars in the Mutual Fund Application form: Sl.No. Box Reading To be filled with 01 Distributor / ARN INDIAN BANK / Sub Broker Code/Branch Branch Name / Branch IBGA Code code 03 MO Code SR NO. of the staff who canvassed the business Please note that correct distribution of commission and award of incentive is possible only if information stated above is furnished correctly and legibly. It may please be noted that, absence of / incomplete furnishing of such information may lead to non-distribution of commission and Branch/Staff getting deprived of the incentives. It must be ensured that the campaign should not affect our Bank s Deposits. Marketing & Training support: UTI MF personnel mapped to the respective Zones will be extending necessary training & other support to our staff members at the branches for creating product awareness while explaining to the customers. UTI MF shall provide the co-branded publicity materials for display at the branches. Salient features of Campaign: UTI will recognize the TOP THREE ZONES in each of the FOUR Categories namely Metropolitan / Urban/Semi Urban/Rural (subject to achievement of SIP Targets) in the Zonal Manager s Conference with a Certificate and Trophy for the Zonal Manager signed by CMD of our Bank. The Trophy shall be sponsored by UTI MF. (Topper will be ascertained based on the % achievement of the targets). All the Zones achieving the targets assigned to them shall be recognized with Good Performance Certificate. The Zonal Managers will also recognize TOP THREE BRANCHES of the Zones with a Certificate signed by respective Zonal Manager and a Trophy (sponsored by UTI-MF). (Topper will be ascertained based on the achievement of targets). All other terms and conditions of Campaign are detailed in Annexure D

2 Circular No. CRA-139 / Dt CO: Bancassurance Service Centre Sub: Distribution of MF Schemes of UTI Mutual Fund Launching of a Campaign UTI New Year Dhamaka 2013 from to Evaluation criteria for the qualifiers under the Campaign is subject to the compliance of all the guidelines stated vide our Circular No.CRA/82/ dt according to which the qualifying Branches / Zones should have reached 75% of Business (Core Deposit & Credit) Targets with 50% of their CASA targets fixed for the previous month of the relevant IRP Contest. It should be ensured that Specified Persons / Marketing Officers / Branch Managers and other staff members involved in selling Third Party products are transparent while explaining features (including Market/Statutory risk factors) to the customers to enable them to take a considered decision and avoid mis-sellings and / or complaints of any kind at a later date. All the Staff members are advised to take part in the campaign and canvass applications for MF investments in the designated Schemes through SIP / STP route by filling up the required particulars correctly and thereby earning Non Interest Income for the Bank and be eligible for the incentives stated. (N.Eswaran) General Manager (T&I, BA) 2

3 Sub: Distribution of MF Schemes of UTI Mutual Fund Launching of a Campaign UTI New Year Dhamaka 2013 from to Annexure A UTI MF NEW YEAR DHAMAKA 2013 ZONAL TARGETS Zones Target for No. of Applications 1 Ahmedabad Bangalore Bhubaneswar Chandigarh Chennai South Chennai North Chittoor Coimbatore Cuddalore Delhi Dharmapuri Ernakulam Ghaziabad Guwahati Hubli Hyderabad Kancheepuram Karnal Kolkatta Kumbakonam Lucknow Madurai Mumbai Patna Puducherry Pune Salem Tirunelveli Trichy Thiruvananthapuram Vellore Vijayawada Visakhapatnam 500 Total

4 Sub: Distribution of MF Schemes of UTI Mutual Fund Launching of a Campaign UTI New Year Dhamaka 2013 from to Annexure B. UTI MF New Year Dhamaka Brokerage payable to the Bank Brokerage structure offered by UTI MF to the Bank on Equity Schemes* T15 Mktg. Expenses Addnl. Mktg. Expenses Trail 1 st year Total comm. payable B % 0.40 % 0.65 % 1.55 % Mktg. Expenses Addnl. Mktg. Expenses Trail 1 st year Total comm. payable 0.50% 1.60% 0.65% 2.75% *Equity Schemes include Balanced Fund, Banking Sector Fund (Regular Plan), Contra Fund, Dividend Yield Fund, Energy Fund, Equity Fund, Infrastructure Fund, Leadership Equity Fund, Master Plus Unit Scheme, Master share Unit Scheme, Master Value Fund, Mid Cap Fund, MNC Fund, Opportunities Fund, Pharma & Healthcare Fund, Services Industries Fund, Top 100 Fund, Transportation & Logistics Fund, Wealth Builder Fund Series-II (Retail Plan) & CRTS. **T-15 refers to TOP 15 cities provided by AMFI and B-15 refers to all the cities beyond the Top 15 cities. The list of top 15 cities is as follows: Mumbai (including Thane & Navi Mumbai), Delhi (including NCR), Bangalore, Kolkata, Chennai, Pune, Ahmedabad, Hyderabad, Baroda, Panjim, Jaipur, Lucknow, Surat, Kanpur and Chandigarh. Annexure C Incentive Scheme for Staff: SIP Contest (applicable only for the Equity Schemes) Only SIP/STP applications of=>rs.1000 and tenure =>24 months will be eligible for the contest Category Minimum Target (No. of Applns) Incentives Allocation Sourcing Staff/Branch manager Nodal Officer/Zonal Manager Head Office: Banacassurance Ratio of incentive between Sourcing Staff & Branch manager will be 60:40 Ratio of incentive between Nodal Officer & Zonal Manager will be 50:50 Sourcing Staff will be determined on the basis of the Marketing Officer s (MO) code mentioned in the application form. Branch Manager will be determined on the basis of the Branch Code mentioned in the Sub Broker Code column in the application form. 4

5 Sub: Distribution of MF Schemes of UTI Mutual Fund Launching of a Campaign UTI New Year Dhamaka 2013 from to Annexure D UTI MF New Year Dhamaka Terms & Conditions of the Contest All equity applications except UTIULIP, UTI Nifty Index Fund, UTI Spread Fund, UTI RBP under SIP contest mobilized (Rs.1000/- or more and 24 months or more) will be considered for the campaign and will be eligible for the incentives as above. Switch from Liquid & Debt categories of funds namely Liquid Cash Plan, Money Market Fund, Treasury Advantage and Floating Rate Fund STP to the above mentioned schemes would qualify. The ARN number of the Bank concerned must be clearly stated in the application forms for ARN holder to be eligible for the campaign. STP/STRIP (Monthly/Quarterly & Daily) is also eligible for the incentive/contest. However the calculation of incentive under quarterly and daily plans would be done on the monthly contribution basis. Customer can invest in multiple SIP/STP but under different Funds, investment in same fund will be treated as splitting of applications and will not be considered for the incentives. For Winners & Qualifiers, Staff incentive payouts will be made only after 6 months of the contest gets over. The working of Incentive is as per Annexure B and Incentives paid will be inclusive of all taxes. All incentives to the staff of Bank will be made in the form of gifts as per the provisions and CATALOGUE provided to the branches. SIP rejected by our R&T due to incomplete applications will not be counted The rules and regulations of SEBI/AMFI pertaining to brokerage payments to the distributors will also applicable for payment of this incentive. The distributors shall adhere to SEBI circular dated June 26, 2002 on code of conduct and all applicable SEBI Regulations and ensure that no rebate is given to investors in any form. UTI AMC reserves the right to withdraw/modify the above offer and the decision of the AMC will be final and binding on all 5