BARODA PIONEER MUTUAL FUND

Transcription

1 BARODA PIONEER MUTUAL FUND Key Information Memorandum cum Application Form (An Open Ended Equity Scheme) Issue of Units of at a face value of Rupees 10/- each during the New Fund Offer period and thereafter at NAV based prices. New Fund Offer for Scheme Opens on : 13th September, 2010 New Fund Offer for Scheme Closes on : 24th September, 2010 Scheme Re-Opens for Continuous Sale on : 8th October, 2010 Name of Mutual Fund Name of Asset Management Company Baroda Pioneer Mutual Fund Baroda Pioneer Asset Management Co. Ltd. 501, Titanium, 5th Floor, Western Express Highway, Goregaon (E), Mumbai Sponsor: Pioneer Global Asset Management S.p.A. Regd. Office: Galleria San Carlo 6, 20122, Milano, Italy; and Bank of Baroda Head Office: Baroda House, Sayaji Ganj, Vadodara Baroda Trustee: Board of Trustees Investment Manager: Baroda Pioneer Asset Management Company Limited Regd. Office: 501, Titanium, 5th Floor, Western Express Highway, Goregaon ( E), Mumbai This Key Information Memorandum (KIM) sets forth the information, which a prospective investor ought to know before investing. For further details of the scheme/mutual Fund, due diligence certificate by the AMC, Key Personnel, investors rights & services, risk factors, penalties & pending litigations etc. investors should, before investment, refer to the Scheme Information Document and Statement of Additional Information available free of cost at any of the Investor Service Centres or distributors or from the website www. barodapioneer.in The Scheme particulars have been prepared in accordance with Securities and Exchange Board of India (Mutual Funds) Regulations 1996, as amended till date, and filed with Securities and Exchange Board of India (SEBI). The units being offered for public subscription have not been approved or disapproved by SEBI, nor has SEBI certified the accuracy or adequacy of this KIM. Name of the Scheme Type of Scheme Public Sector Undertaking Investment Objective Asset Allocation Pattern of the Scheme Investment Strategy Risk Profile of the Scheme Risk Management Strategy Plans and Options Applicable NAV (after the scheme opens for repurchase and sale) Minimum Application Amount Despatch of Repurchase (Redemption) Request Benchmark Indices Dividend Policy An open ended equity Scheme Public Sector Undertaking (PSU) means a company in which not less than fifty one percent of the paid up share capital is held by the Central Government, or by any state Government or Governments, or partly by the Central Government and partly by one or more State Governments and includes a company which is a subsidiary of a Government Company as thus defined. The primary investment objective of the Scheme will be to provide investors with opportunities for long-term growth in capital along with the liquidity of an openended scheme through an active management of investments in a diversified basket of equity stocks of domestic Public Sector Undertakings. Types of Instruments Normal Allocation Risk Profile (% of net assets) Equity & Equity related Securities, covered under the universe of Public Sector Undertakings, including Derivatives* Medium to High Debt and Money Market Instruments 0-35 Low to Medium Investment in derivatives may be made upto 50% of the net assets of the Scheme. The scheme shall not invest in securitiesd debt. The Scheme may take derivatives position based on the opportunities available subject to the guidelines issued by SEBI from time to time and in line with the overall investment objective of the Scheme. These may be taken to hedge the portfolio, rebalance the same or to undertake any other strategy as permitted under the SEBI Regulations. The exposure/investments of the scheme in Equities and equities related instruments + notional exposure of derivatives + debt and money market instruments shall not be more than 100% of the net assets of the scheme. is an open ended Equity Scheme and the primary objective is to generate long-term capital appreciation. It will invest in equity and equity-related securities of Public Sector Undertakings only. The fund manager will adopt an active management style to optimize returns. The key factors of the investment strategy of the scheme will be : 1. Indentifying attractive opportunities on the basis of the government policies research report and overall economic conditions. 2. The stock selection will take into consideration of various factors like Fundamentals of the business, Market Capitalisation Industry structure, Quality of management, etc. 3. Sector weightage and stock selection within the sector. 4. The portfolio will be sufficiently diversified by investing in number of companies without any restriction of market capitalization. Mutual Fund Units involve investment risks including the possible loss of principal. Please read the SID carefully for details on risk factors before investment. Scheme specific Risk Factors are summarized below: Risks associated with investing in Equity and Equity Related Securities Risks associated with PSU companies : The Scheme will invest in PSU companies engaged in the various sectors/industries that are engaged in infrastructure development, services and overall economic developments. Since the NAV of the Scheme will be linked to the share price performance of such companies, they may outperform or under perform the benchmark index (BSE PSU Index) and/or the constituents of the said benchmark index. Equity instruments carry both company specific and market risks and hence no assurance of returns can be made in respect of these investments. Equity and equity related securities are prone to daily price fluctuations and the liquidity of investments made in the Scheme may be restricted by trading volumes and settlement periods. Settlement periods may be extended significantly due to 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. Likewise, the inability to sell securities held in the Scheme's portfolio could result, at times, in potential losses to the Scheme, should there be a subsequent decline in the value of securities held in the Scheme's portfolio. Also, the value of the Scheme's investments may be affected by interest rates, currency exchange rates, changes in laws/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. Risks associated with investment in Fixed Income and Money Market instruments which may involve Interest Rate risk, Spread risk, Credit risk or default risk, Liquidity & Settlement risk, performance risk, prepayment risk and market risk, etc. Risks associated with investment in Derivatives which involve Credit Risk, Illiquidity Risk, etc. Equity & Equity Related securities risk mitigation Risk & description specific to Equities Risk Mitigation/ management strategy Quality Risk: Risk of investing in unsustainable/ weak companies Investment universe carefully selected to only include companies of high quality business, sound financial strength and management of the company Price Risk : Risk of overpaying of company Fair Value based investment approach supported by comprehensive research Concentration risk : Invest in PSU Companies across the market capitalization( large cap, mid cap and small cap) spectrum Liquidity Risk : High Impact Cost Control portfolio liquidity at portfolio construction stage by investing in the securities of companies having sound management and financials. Volatility: Price volatility due to company or portfolio specific factors The focus of the fund manager is on ensuring that Stocks selected for the portfolio and the allocation to each sector/stock does not lead to excessive volatility that is not in line with the positioning of the Scheme. The volatility of portfolio relative to peers, benchmark and broad market is monitored. Fixed Income securities, Money Market Instruments and Derivatives risk mitigation The scheme will minimize the risk associated with investment in Fixed Income securities, Money Market Instruments and Derivatives which involve Credit Risk, Illiquidity risk by investing in rated papers of the companies having the sound back ground, strong fundamentals, and quality of management and financial strength of the Company. Also the scheme will endeavor to invest in instruments with relatively higher liquidity and will actively trade on duration depending on interest rate scenario. The Scheme will have no plans. The Scheme will have two options, viz., Growth and Dividend. Under the Dividend Option, there will be two sub-options, namely, Dividend Payout and Dividend Reinvest. Default option is the Growth option. In Dividend option default sub option is Dividend Reinvest. Purchase Redemption In respect of valid applications received up to 3 pm along with a local cheque Where the application is received up to 3 pm - Closing NAV of the day of or demand draft payable at par at the place where the application is received, receipt of application. Closing NAV of the day of receipt of application. In respect of valid applications received after 3 pm along with a local cheque Where the application is received after 3 pm - Closing NAV of the next or demand draft, Closing NAV of the next Business Day. Business Day. In respect of valid applications with outstation cheques/demand drafts not payable at par at the place application is received, Closing NAV of the day on which the cheque or demand draft is credited. Purchase Additional Purchase Repurchase Rs. 5,000/- and in multiples of Re. 1/- thereafter Rs. 1,000/- and in multiples of Re. 1/- thereafter Any Amount Redemption or repurchase proceeds shall be dispatched to Unit Holders within 10 working days from the date of redemption or repurchase. BSE PSU Index The Trustee reserves the right to declare dividends under the dividend option of the Scheme depending on the net distributable surplus available under the Scheme. The procedure and manner of payment of dividend shall be in line with SEBI circular / guidelines no. SEBI / IMD / CIR No. 1 / / 06 dated April 04, 2006 and SEBI / IMD / CIR No. 3 / / 06 dated April 21, 2006 as amended from time to time.

2 BARODA PIONEER MUTUAL FUND Name of Fund Manager Name of Trustee Company Performance of the Scheme Expenses of the Scheme Waiver of Load for Direct Application Tax Treatment for the Investors (Unitholders) Daily Net Asset Value (NAV) Publication: For Investor Grievances please contact Unitholders information Mr. Dipak Acharya Not Applicable. The Board of Trustees is the Trustee of Baroda Pioneer Mutual Fund This is a new Scheme and does not have any performance track record. A. NEW FUND OFFER (NFO) EXPENSES : Pursuant to SEBI Circular No. SEBI/IMD/ CIR No. 1/ 64057/06 dated April 4, 2006, the New Fund Offer expenses will not be charged to the scheme. The expenses incurred during the NFO are mainly for the purpose of various activities related to the NFO including but not limited to sales and distribution fees, marketing and advertising, registrar expenses, printing and stationary and bank charges. These expenses will be borne by the AMC B. Load Structure during New Fund Offer and Continuous Offer Entry Load: Pursuant to SEBI Circular no. SEBI/IMD/CIR no. 4/168230/09 dated June no entry load will be charged by the Scheme to investor. Similarly, no entry load will be charged with respect to applications for registrations under Systematic Investment Plan (SIP) / Systematic Transfer Plan (STP) accepted by the mutual fund under the scheme. Upfront commission shall be paid directly by the investor to the ARN holders ( AMFI registered distributors) based on the investors assessment of various factors including the services rendered by the ARN holder. Exit Load: 1.00% if redeemed on or before 365 days from the date of allotment of units. NIL, if redeemed after 365 days from the date of allotment of units. C. Recurring Expenses The recurring expenses of the scheme (including investment management and advisory fess) shall be as per the limit prescribed under the SEBI ( Mutual Funds) Regulations These are as follows: i) 2.50% on the first Rs.100 Crore of average weekly net assets. ii) 2.25% on the next Rs.300 Crore of average weekly net assets. iii) 2.00% on the next Rs.300 Crore of average weekly net assets. iv) 1.75% on the balance of the average weekly net assets. Actual expenses for the previous year: Not Applicable, as this is a new scheme. Not Applicable Pursuant to SEBI Circular no. SEBI/IMD/CIR no. 4/168230/09 dated June no entry load will be charged by the Scheme to investor. Similarly, no entry load will be charged with respect to applications for registrations under Systematic Investment Plan(SIP) / Systematic Transfer Plan (STP) accepted by the mutual fund under the scheme. Investors are advised to refer to the paragraph on Taxation in the Statement of Additional Information and also consult to their own tax advisor with respect to the specific amount of tax implications arising out of their participation in the scheme. The NAV will be calculated and declared by the mutual fund on each working day. NAV will be published in 2 newspapers as prescribed under SEBI (Mutual Funds) Regulations, NAV can also be viewed on and The AMC shall update the NAVs on the website of Association of Mutual Funds in India - AMFI ( by 9 pm. Name and Address of Registrar Investor Relation Officer Karvy Computershare (Pvt.) Ltd. Mr. Amitabh Ambastha Karvy House, 21, Avenue 4, 501, Titanium, 5th Floor, Western Express Highway, Goregaon (E), Mumbai Street No. 1, Banjara Hills, info@barodapioneer.in Hyderabad Phone: , FaxL Account Statement The AMC shall issue to an investor whose application (other than SIP/STP) has been accepted, an account statement specifying the number of units allotted. Dispatch of statements of account to Unit Holders who subscribed to units during the NFO will be made within 5 Business Days from the date of allotment of Units. During the ongoing offer, account statements will be dispatched within 5 Business Days from the date of allotment. For those Unit Holders who have provided an address, the AMC will send the account statement by . Unit Holders may request for a physical account statement by writing to/calling the AMC/ISC/R&T. If an investor specifically makes a request in writing for issue of a Unit Certificate, the Unit Certificate shall be sent to the investor within 5 Business Days of receipt of request as stipulated under the Regulations. Investors will be issued a Unit Statement of Account in lieu of Unit Certificate. Annual Account Statement: The Fund shall provide Account Statements to Unit Holders who have not transacted during the last six months prior to the date of generation of account statements. The Account Statement shall reflect the latest closing balance and value of the Units prior to the date of generation of the account statement. The account statements in such cases may be generated and issued along with the Portfolio Statement or Annual Report of the Scheme. Alternately, soft copy of the account statements shall be mailed to the investors' address, instead of physical statement, if so mandated. For SIP / STP transactions; Account Statements for SIPs and STPs will be despatched once every quarter ending March, June, September and December respectively, within 10 working days of the end of the respective quarter. A soft copy of the Account Statement shall be mailed to the investors under SIP/STP to their address on a monthly basis, if so mandated. However, the first Account Statement under SIP/STP shall be issued within 10 working days of the initial investment/transfer. In case of specific request received from investors, Mutual Funds shall provide the account statement (SIP/STP) to the investors within 5 working days from the receipt of such request without any charges. Half yearly Disclosures: Portfolio / Financial Results Baroda Pioneer mutual fund shall publish a complete statement of the Scheme portfolio and the unaudited financial results, within one month from the close of each half year (i.e. 31st March and 30th September), by way of an advertisement at least, in one National English daily and one regional newspaper in the language of the region where the head office of the mutual fund is located. Annual Report The Fund will, not later than four months after the close of each financial year (March 31), mail to the Unit Holders an abridged Scheme wise annual report. Further, the full text of the Annual Report will be available for inspection at the office of the Fund. A copy of the Annual Report will be sent to Unit holders, free of cost, on specific request. The investment objectives of the existing equity schemes as well as Baroda Pioneer Infrastructure Fund is as follows, How is is different from the existing equity schemes offered by the Baroda Pioneer Mutual Fund? is a thematic fund different from our existing equity schemes Baroda Pioneer Growth Fund and Baroda Pioneer ELSS 96 and Baroda Pioneer Infrastructure Fund which are equity diversified, equity linked saving scheme and a thematic fund respectively. Baroda Pioneer Growth Fund is free to invest in equity & equity related instruments of any company without restriction of any sector, industry or market capitalisation. The funds collected under Baroda Pioneer ELSS 96 are predominantly invested in equity and equity related instruments in accordance with the ELSS guidelines issued by the Ministry of Finance. Baroda Pioneer infrastructure Fund is a thematic scheme with an investment objective to generate long-term capital appreciation by investing predominantly in equity and equity-related securities of companies engaged in infrastructure and infrastructure-related sectors. is a thematic fund focusing on investment in Public Sector Enterprises. As the reform process progresses over the next five to ten years, PSUs are likely to emerge as more robust and vibrant players in different parts of the economy. Despite large-scale privatization across the world, public enterprises remain an important aspect of the economic activity in varying degrees. is unique in its own as it provides more coverage with respect to the industry. Nearly every industry has a Big PSU comprising the major part of that industry. Through this Scheme the AMC endowers to invest in the stocks and capitalize on the in stored value of disinvestment or divestment which tends to improve price discovery, valuation and liquidity for such stocks. PSU companies have more management accountability and integrity which in turns minimizes the risk taken by them. The concept of Navratna s and miniratna s has introduced to seek more financial and operational autonomy along with the low risk factors. Thus the exposure in this sector makes it very different from other equity fund by the virtue of attributes explained above. The investment objectives of the existing equity schemes as well as are as follows: Name of Scheme Investment Objective Baroda Pioneer Growth Fund T o g e n e r a t e l o n g t e r m c a p i t a l appreciation from an actively managed portfolio of equity & equity related instruments Baroda Pioneer ELSS 96 The main objectives of the scheme is to provide the investor long term capital growth as also tax benefit under section 80C of the Income Tax Act, Baroda Pioneer Infrastructure Fund The primary investment objective of the Scheme will be to generate long-term capital appreciation by investing predominantly in equity and equityrelated securities of companies engaged in infrastructure and infrastructurerelated sectors. The primary investment objective of the Scheme will be to provide investors with opportunities for long-term growth in capital along with the liquidity of an openended scheme through an active management of investments in a diversified basket of equity stocks of domestic Public Sector Undertakings Name of Scheme Types of Instruments Normal Allocation (% of Net Assets ) Baroda Pioneer Growth Fund Equity & Equity Related Securities Debt & Money Market Instruments 0-25 Baroda Pioneer ELSS 96 Equity & Equity Related Securities Debt & Money Market Instruments 0-20 Baroda Pioneer Infrastructure Fund Equities and equity related securities including derivatives engaged in infrastructure sectors and infrastructure related sectors Debt and Money Market Instruments 0-35 Equity & Equity related Securities, covered under the universe of Public Sector Undertakings, including Derivatives* Debt and Money Market Instruments 0-35 Name of the Scheme Baroda Pioneer Growth Fund Baroda Pioneer ELSS 96 Baroda Pioneer Infrastructure Fund Assets Under Management as on (Rs. Crores) No. of Folios Date: 20/08/2010 N.B. Data and information shall be up-to-date but in no case older than 30 days from the date of KIM.

3 Application Form for (An Open Ended Equity Scheme) NFO Period : 13th September, 2010 to 24th September, 2010 BARODA PIONEER PSU EQUITY FUND

4 Baroda Pioneer Mutual Fund shall credit the redemption / Dividend / Refund payout into investor s account electronically in case the IFSC Code / MICR code has been provided by the investor. In case of bank not crediting my/our bank account with/without assigning any reason thereof or if the transaction is delayed or not effected at all for reasons of incomplete or incorrect information, I/We would not hold Baroda Pioneer Mutual Fund responsible. I/ We understand that in case account number furnished by me/us, if found incorrect, I/We would not hold Baroda Pioneer Mutual Fund responsible for the credit going to the wrong account. Further, the Mutual Fund reserves the right to issue a demand draft/payable at par cheque in case it is not possible to make payment by DC/NEFT/ECS. If however you wish to receive payouts by cheque, please tick here (Please tick any one) Growth Dividend Payout Dividend Reinvest a) I/We having read & understood the contents of the Scheme Information Document (SID) / Statement of Additional Information (SAI) of the Scheme, I/We hereby apply for units of the scheme & agree to abide by the terms, conditions, rules & regulations governing the scheme. I / We hereby declare that the amount invested in the scheme is through legitimate sources only & does not involve & is not designed for the purpose of the contravention of any Act, Rules, Regulations, Notifications or Directions of the provisions of the Income Tax Act, Anti Money Regulations, Notifications or Directions of the provisions of the Income Tax Act, Anti Money Laundering Laws, Anti Corruption Laws or any other applicable laws enacted by the Govt of India from time to time. I / We have understood the details of the scheme In the event Know Your Customer process not completed by me/us to the satisfaction of the AMC, I/We hereby authorise the AMC, to redeem the funds invested in the Scheme, in favour of the applicant at the applicable NAV prevailing on the date of such redemption & undertaking such other action with such funds that may be required by the Law. b) For NRIs: I / We confirm that I am / we are Non Residents of Indian Nationality / Origin & that I / we have remitted funds form abroad through approved banking channels or from funds in my / our Non-Resident External / Non-Resident Ordinary. I / We confirm that details provided by me / us are true and correct. I / We confirm that I / we are holding valid PAN card. c) The ARN holder has disclosed to me/us all the commissions (in the form of trail commission or any other mode), payable to him for the different competing Schemes of various Mutual Funds from amongst which the Scheme is being recommended to me/us. Baroda Pioneer Asset Management Company Limited 501 Titanium, 5th Floor, Western Express Highway, Goregaon (E), Mumbai , India. Phone: / Fax:

5 INSTRUCTIONS TO INVESTORS FOR FILLING UP THE APPLICATION FORM I. General Instructions: 1. Please read the Key Information Memorandum (KIM), Scheme Information Document (SID) and Statement of Additional Information (SAI) containing the terms of offer carefully before investing. It must be understood clearly that all Applicants are deemed to have accepted the terms subject to which this offer is being made and bind themselves to the terms upon signing the Application Form and tendering payment. 2. The application form must be filled in English in BLOCK LETTER using black or dark blue coloured ink. Incomplete applications are liable to be rejected. Please ensure that the requisite details and documents have been provided. 3. Please strike out any section that is not applicable. Correction/Cancellation on any of the mandatory information should be countersigned by the investors. II. Applicant Information 1. Name should be given in full without any abbreviation. Preferably write exactly as it appears in your Bank Account or as it appears in the incorporation document as the case may be. 2. Name and date of birth of the minor is mandatory for investment on behalf of minor. 3. Please write the Applicant s Name & Application Serial Number on the reverse of the Cheque/Demand Draft. 4. Please mention the Pin Code Number in the Address column. In case the Pin Code is not mentioned all the correspondence will be sent by ordinary post. 5. All communication and/or payments will be made to the sole/first applicant. 6. Signatures should be in English or in any Indian language, thumb impressions must be attested by a Magistrate/ Notary Public under his/her official seal. In case of HUF, the Karta should sign on behalf of the HUF. In case of Partnership Firms, the Partner should sign on behalf of the Partnership Firm. Similarly, for the Association of Persons (AoP), Company, etc. the application must be signed by the Authorised Signatory/Signatories as applicable. 7. Individual(s) as Applicant/unit holder only can make nomination. Nominee must be an individual and not a trust, society, body corporate, partnership firm, Karta of Hindu Undivided Family or a power of Attorney Holder. Nomination stands rescinded upon transfer/ Redemption/ Switchover of Units. 8. Where the units are held in the names of two or three persons, such persons shall be deemed to hold the units on first holder basis. In case of HUF/Partnership Firm/AoP/Company, etc. no joint holding will be considered. All tax exemptions can be availed of only by the First holder in case of additional holdings. 9. In case of applications under Power of Attorney or by a Limited Company or by a Corporate Body or Eligible Institution or a Registered Society or a Trust or a Fund the original Power of Attorney or the certified copy thereof duly notarised and the relevant resolution or authority to make the application, as the case may be including authority granted in favour of the officials signing the application and their specimen signature etc., or duly certified copy thereof alongwith a certified copy of the Memorandum and Articles of Association and/or bye-laws and/or trust deed and/or partnership deed and certificate of registration must be lodged at the office of the Registrar, quoting the serial number of application simultaneously with the submission of the Application Form, failing which the application is liable to be rejected. 10. Any applications without broker code will be treated as Direct Investments. III. Bank Account Details: SEBI regulation have made it mandatory for the Unitholders to mention their bank account numbers in their purchase applications/requests for redemptions. Unitholders are requested to give the full particulars of their Bank A/c i.e. nature of A/c, A/c Number, 9 digit Bank Code Number (For Electronic Credit Facility), branch address of the bank at the appropriate space in the application form. Please provide the MICR code / IFSC code to help you in future for ECS / NEFT credit of dividend & redemption payout. Please attach a copy of the cancelled cheque leaf. Any application for subscription / request for redemption without Bank A/c details cannot be considered for subscription and hence will be rejected. IV. Permanent Account Number (PAN) of Investors SEBI has made it mandatory for all applicants (in the case of application in joint names, each of the applicants) to mention his/her permanent account number (PAN) irrespective of the amount of purchase*. Where the applicant is a minor, and does not possess his / her own PAN, he / she shall quote the PAN of his/ her father or mother or the guardian, as the case may be. In order to verify that the PAN of the applicants (in case of application in joint names, each of the applicants) has been duly and correctly quoted therein, the applicants shall attach along with the purchase* application, a photocopy of the PAN card duly self-certified along with the original PAN Card. The original PAN Card will be returned immediately across the counter after verification. Investors residing in the state of Sikkim are exempt from the mandatory requirement of PAN proof for submission, however sufficient documentary evidence shall have to be submitted for verifying that they are resident of the state of Sikkim. Prevention of Money Laundering & Know Your Customer (KYC) Compliance In terms of the Prevention of Money Laundering Act, 2002, the Rules issued thereunder and the guidelines/circulars issued by SEBI regarding the Anti Money Laundering (AML Laws), all intermediaries, including Mutual Funds have to formulate and implement a client identification programme, verify and maintain the record of identity and address(es) of investors. In order to make the data capture and document submission easy and convenient for the investors, Mutual Fund Industry has collectively entrusted the responsibility of collection of documents relating to identity and address of the investor(s) to an independent agency [presently CDSL Ventures Limited ( CVL )] which will act as central record keeping agency ( Central Agency ). As a token of having verified the identity and address of the investor(s) and for efficient retrieval of records, the Central Agency will issue a KYC Acknowledgement Letter (previously known as Mutual Fund Identification Number - MIN^ Allotment Letter) to each investor who submits an application and the prescribed documents to the Central Agency. Investors should note that it is mandatory for all applications for subscription of value of Rs. 50,000/- and above to quote the KYC Compliance Status of each applicant (guardian, in case of minor) in the application for subscription and attach proof of KYC Compliance viz. KYC Acknowledgement Letter (or the erstwhile Mutual Fund Identification Number^ (MIN) Allotment Letter) / Printout of KYC Compliance Status downloaded from CVL website ( using the PAN Number. Applicants intending to apply for units through a Power of Attorney (PoA) must ensure that the issuer of the PoA and the holder of the PoA must mention their KYC Compliance Status and attach proof of KYC Compliance at the time of investment above the threshold. The KYC status will be validated with the records of the Central Agency before allotting units. Baroda Pioneer Mutual Fund will not be held responsible and /or liable for rejection of KYC Form, if any, by the Central Agency. Applications for subscriptions of value of Rs. 50,000 and above without a valid KYC compliance may be rejected. Provided further, where it is not possible to verify the KYC compliance status of the investor at the time of allotment of units, the Trustee / AMC shall verify the KYC compliance status of the investor within a reasonable time after the allotment of units. In the event of non compliance of KYC requirements, the Trustee / AMC reserves the right to freeze the folio of the investor(s) and affect mandatory redemption of unit holdings of the investors at the applicable NAV, subject to payment of exit load, if any. ^Valid only where investors who have already obtained the erstwhile Mutual Fund Identification Number (MIN) by submitting the PAN copy as the proof of identity. SEBI has made it mandatory for all applicants (in the case of application in joint names, each of the applicants) to mention his/her Permanent Account Number (PAN) irrespective of the amount of purchase*. Where the applicant is a minor, and does not possess his/ her own PAN, he/ she shall quote the PAN of his/ her father or mother or the guardian, as the case may be. In order to verify that the PAN of the applicants (in case of application in joint names, each of the applicants) has been duly & correctly quoted therein, the applicants shall attach along with the purchase* application, a photocopy of the PAN card duly attested by the distributor / agent (AMFI registered) through whom the application is effected or by Bank Manager or Notary or Investor Service Centres of BARODA PIONEER MUTUAL FUND or ISCs of KARVY. Attestation will be done after verification with the original PAN card. *includes fresh/additional purchase, Systematic Investment. Applications not complying with the above requirement may not be accepted/processed. Additionally, in the event of any application form being subsequently rejected for mismatch of applicant's PAN details with the details on the website of the Income Tax Department, the investment transaction will be cancelled & the amount may be redeemed at the applicable NAV, subject to payment of exit load, if any, Please contact any of the Investor Service Centres / KARVY / Distributors or visit our website for further details. If PAN already validated along with MIN, please don t attach any proof. V. Payment Procedure 1. Payment may be made by MICR cheque/dd drawn on/ made payable at all those places where the Investor Service Centres are located and mail to the nearest ISC. THE CHEQUE/DD MUST BE DRAWN IN THE NAME OF THE SCHEME and crossed ACCOUNT PAYEE & NOT NEGOTIABLE. 2. Investment of Rs. 50 lacs and above can only be made through ELECTRONIC FUND TRANSFER. 3. Incase of subscription by NRIs/FIIs, in case the payment is made through Indian Rupee draft purchased abroad or from FCNR or NRE A/c, an Account Debit Certificate from the bank issuing the draft, confirming the debit should be submitted. For subscription made by NRE/FCNR account cheques, the application forms must be accompanied with a photocopy of the cheque or Account Debit letter/certificate from the banker. Applicants who cannot Invest: 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 FII or FII sub account. Overseas Corporate Bodies (OCBs) shall not be allowed to invest in the scheme. These would be firms & societies which are held directly or indirectly but ultimately to the extent of atleast 60% by NRI s & trusts in which atleast 60% of the beneficial interest is similarly held irrevocably by such persons (OCBs). Non-Resident Indians residing in the United States of America & Canada. 4. Subscription by Multilateral Funding Agencies, on full repatriation basis, is subject to approval by the Foreign Investment Promotion Board. 5. Application form (duly completed), along with a cheque / DD (payable at Hyderabad) may be sent by Mail directly to Registrar viz. Registrar: KARVY Computershare Private Limited KARVY REGISTRY HOUSE H.No : Avenue 4, Street No.1 Banjara Hills, Hyderabad (Contd.)

6 INSTRUCTIONS TO INVESTORS FOR FILLING UP THE APPLICATION FORM (Contd.) If there is no Authorised Investor Service Centres where the investor resides, he/she may purchase a Demand Draft from any other Bank in favour of the "Scheme" (please mention the name of the scheme) & crossed "A/c Payee & Not Negotiable". If you are residing/located in a city/town where we don t have an official Acceptance Point, please draw a Demand Draft payable at your nearest city/town where we have a Transaction Acceptance Point, after deducting bank charges / commission after deducting bank charges / commission (not exceeding charges prescribed by State Bank of India) from the amount of investment. 6. The applicants are requested to note the following points before submitting the applications to any of the collection centres. i) Separate cheque/demand draft is required for each scheme. Such Cheques/Demand Draft should be drawn in the name of the Scheme. ii) Stockinvests, Outstation Cheques/DD, Post Dated Cheques, Money Orders and Postal Orders will not be accepted and such applications will not be considered for allotment. iii) Cheques once returned in clearing will not be re-presented and the accompanying applications may not be considered for allotment. 7. Applications which are incomplete are liable to be rejected & the Trustee Company of Baroda Pioneer Mutual Fund shall not be responsible for any consequences thereof. 8. Where an application is rejected in full or in part, application money will accordingly be refunded to the applicant. No interest will be paid on the amount so refunded. Letters of regret together with Refund Cheques / Orders if any will be despatched to the applicant. Refund will be made by cheques or pay order drawn on the Bankers of Baroda Pioneer Mutual Fund. 9. The right to accept or reject any application in whole or in part lies with the Trustee Company. VI. Nomination 1. The nomination can be made only by individuals applying for/holding units on their own behalf singly or jointly. Non-Individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family, holder of Power of Attorney cannot nominate. If the units are held jointly, all joint holders will sign the nomination form. 2. Minor(s) can be nominated & in that event, the name, address & signature of the guardian of the minor nominee(s) shall be provided by the unit holder. 3. The Nominee shall not be a trust, society, body corporate, partnerships firm, member of Hindu Undivided Family or a Power of Attorney holder. A non-resident Indian can be a Nominee subject to the policy of exchange control for the time being in force. 4. Nomination in respect of the units stands rescinded upon the transfer of units. 5. Transfer of units in favour of Nominee(s) shall be valid discharge by the Asset Management Company (AMC) against the legal heirs, executors, administrators, etc. 6. The cancellation of nomination can be made only by those individuals who hold units in their own name, either solely or jointly and who have originally made the nomination. 7. On cancellation of the nomination, the nomination shall stand rescinded & the Asset Management Company (AMC) shall not be under any obligation to transfer the units if favour of the Nominee(s). 8. Nomination can be made for maximum number of three nominees. Incase of multiple nominees, the percentage of the allocation/share should be in whole numbers without any decimals making a total of 100% (in the event of the unitholders not indicating the percentage of allocation/ share for each of the nominees, the AMC, by invoking default option shall settle the claims equally amongst all the nominees). KARVY COLLECTION CENTRES Agra - Deepak Wasan Plaza, Behind Holiday Inn, Opp Megdoot Furnitures, Sanjay Place, Agra Tel. No. : / Ahmedabad - 201, Shail Building, Opp. Madhusudhan House, Near Navrangpura Telephone Exchange, Navrangpura, Ahmedabad Tel. No. : / / / Fax No. : Ajmer -1-2, II Floor, Ajmer Tower, Kutchary Road, Ajmer Tel No. : / / Allahabad - RSA Towers, 2nd Floor, Above Sony TV Showroom, 57, S P Marg, Civil Lines, Allahabad Tel No. : / / / Fax No. : / Alwar - 101, 1st Floor Saurabh Towers Opp. UTI Road No # 2, Bhagat Singh Circle, Alwar Tel. No. : /300/ 400. Ambala , Nicholson Road, Adjacent Kos Hospital, Ambala Cantt, Ambala Tel. No. : / Amritsar - 72-A, Taylor S Road, Aga Heritage Gandhi Ground, Amritsar Tel. No. : / Fax No. : Anand - F-6, Chitrangana Complex, Opp: Motikaka Chawl, V.V. Nagar, Anand Tel. No. : / Ankleshwar - Shop No. FF 4 & 5, Shree Narmada Arcade, Old N H No. 8, Opp. HDFC Bank, Ankleshwar Tel. No. : / Bangalore - No : 51/25, 1 St Floor, Surya Building, Ratna Avenue, Richmond Road, Bangalore Tel. No. : / / Fax No. : Bareilly - 1st Floor, 165, Civil Lines, Opp.Hotel Bareilly Palace, Near Rly Station Road, Bareilly Tel No / Ext: 32, Fax No. : / Baroda : SB-4&5, Mangaldeep Complex, Opposite Mesonic Hall, Productivity Road, Alkapuri, Vadodara Tel. No / Bharuch - Ground Floor, Office No-6, Aditya Complex, Opp.Kasak Temple, Bharuch Tel. No. : Bhavnagar - Surabhi Mall, 301, 3rd Floor, Waghawadi Road, Bhavnagar Tel. No. : /6 Fax No. : Bhilai - No.138, New Civic Centre, Bhilai Dist - Durg ; Chattishgarh. Tel. No. : / / 32. Bhopal - Kay Kay Business Centre, 133 Zone I M P Nagar, Bhopal Tel. No. : / Fax No. : Bhubaneswar - Plot No. 104/105(P), Jaydev Vihar, Besides Hotel Pal Heights, Bhubaneswar Tel No. : / , / / Fax No. : Bilaspur - Shop No 201/202, V.R.Plaza, Link Road, Bilaspur Tel. No. : / / / / Bokaro - B-1, 1St Floor, Near Sona Chandi Jewellers, City Centre, Sector - 4, Bokaro Steel City Tel No. : /32/30. Chandigarh - Sco ; First Floor; Above Hdfc Bank; Sector 35B, Chandigarh Tel. No. : / / / Fax No. : Chennai - Flat No F11, First Floor, Akshya Plaza, (Erstwhile Harris Road), Opp Chief City Metropolitan Court, # 108,Adhithanar Salai, Egmore, Chennai Tel No. : / / / (Exclusive for DWS), Fax No. : Cochin - Room no 2, IInd Floor, Jewel Arcade, (Above Oriental Insurance Ltd.), Layam Road, Cochin Tel No. : / / / Coimbatore : 29/1, I St Floor,Chinthamani Nagar, Opp. to Indian Overseas Bank, Nsr Road, Saibaba Colony, Coimbatore Tel No. : / / to 217 Fax No. : Cuttack - Dargha Bazar, Opp. Dargha Bazar Police Station, Buxibazar, Cuttack Tel No. : / Dehradun - Kaulagarh Road, Near Sirmaur Marg, Above Reliance Webworld, Dehradun Tel. No. : Dhanbad - 208, New Market, 2nd Floor, Katras Road, Bank More, Dhanbad Tel No. : UTI / Durgapur - Old Dutta Automobiles Building, 1st Floor, Nachan Road, Benachity, Durgapur Tel. No. : / Erode - No. 4,KMY Salai, Veerappan Traders Complex, Opp : Erode Bus Stand, Sathy Road, Erode Tel No. : / , / Fax No. : Faridabad - A-2B, 1st Floor, Nehru Ground, Neelam Bata Road, Nit, Faridabad Tel. No. : / / / Fax No. : Ghaziabad - 1st Floor, C-7, Lohia Nagar, Ghaziabad Tel. No / , Fax No. : Gorakhpur - Above V.I.P. House, Ajdacent A.D. Girls Inter College, Bank Road, Gorakpur Tel No. : / / / / / Guntur - Door No : , Sai House, 10/1, Arundelpet, Guntur Tel No. : / Fax No. : Gurgaon - Shop No. 18, Ground Floor, Sector - 14, Opp. AKD Tower, Near Huda Office, Gurgaon Tel No. : / / 215 / / / / Guwahati - 54 Sagarika Bhawan, R G Baruah Road, (AIDC Bus Stop), Guwahati Tel. No. : / Gwalior - Shindi Ki Chawani, Nadi Gate Pul, MLB Road, Gwalior Tel. No. : / /2/3/4. Haldwani Durga City Center, 1st Floor, Near MBPG College Parao, Nainital Road, Haldwani Tel No. : / / Hazaribagh - C/o Hemlata Jain, Kalibari Road, Hazaribagh Tel. No. : /53/54. Hubli - 8 & 9, Upper Ground Floor, C Block, Akshaya Park, Gokul Road, Hubli Tel. No. : / Hyderabad Karvy Plaza, Avenue 4, Street No.1,Banjara Hills, Hyderabad Tel. No. : / /7076/7077. Indore - G-7, Royal Ratan Building, M. G. Road, Opp. Kotak Mahindra Bank, Indore Tel No. : Jabalpur - 43, Naya Bazar, Opposite shyam talkies, Jabalpur (M.P.) Ph- Direct , Ext -33 / Jaipur - S-16 A, 3rd Floor, Land Mark, Opposite Jaipur Club, Mahavir Marg, C- Scheme, Jaipur Tel. No. : / , Fax No. : Jalandhar - Lower Ground Floor, Office No : 3, Arora Prime Tower, Plot No : 28, G T Road, Jalandhar Tel No. : / / / / Jammu - 29 D/C, Near Service Selection Commission Office, Gandhi Nagar, Jammu Tel No. : / Jamnagar Madhav Plaza, Opp SBI Bank, Near Lal Bangalow, Jamnagar Tel No. : / Jamshedpur - Kanchan Tower, 3Rd Floor, Chhaganlal Sons, 3-S B Shop Area, (Near Traffic Signal), Main Road, Bistupur, Jamshedpur Tel No. : / / / Jodhpur - 203, Modi Arcade; Chupasni Road, Jodhpur Tel No. : / Fax No. : Kanpur - 15/46, Opp: Muir Mills, Civil Lines, Kanpur Tel No. : / fax No. : Keonjhar - 2nd Floor, Maruti Arcade, Thanna Square, Keonjhar Tel No. : / / / / Kolkata - 16 Jatin Bagchi Road, Kolkata Tel No. : / / / Fax No. : Korba - 1St Floor, 35 Indira Complex, T P Nagar, Korba (C.G.) Tel No. : / / , / Lucknow - Usha Sadan, 24, Prem Nagar, Ashok Marg, Lucknow Tel No. : / / / 28 Fax No. : Ludhiana - SCO-3, Bawa Building, Feroze Gandhi Market, Ludhiana Tel No. : / Fax No. : Madurai - Rakesh Towers, 30-C, Bye Pass Road, Ist Floor, Opp Nagappa Motors, Madurai Tel No. : / 865 / / / Mangalore - Ground Floor, Mahendra Arcade, Kodial Bail, Mangalore Tel. No. : , Fax No. : Mehsana - Ul -47, Appolo Enclave; Opp Simandhar Temple, Modhera Char Rasta; Highway, Mehsana Tel No. : / Mumbai - DAS Chambers, Ground Floor, Opp. BSE & next to Corporation Bank, Dalal Street, Fort, Fort Mumbai Tel No. : Fax No. : Mysore - L - 350, Silver Tower, Clock Tower, Ashoka Road, Mysore Tel No. : / / Fax No.: Nagpur - 1st Floor, Sadoday Arcade, WHC Road, Above Top N Town, Dharampeth, Nagpur Tel No. : / / Nasik - S-12, Second Floor, Suyojit Sankul, Sharanpur Road, Nasik Tel No. : Navsari - 1st Floor, Chinmay Arcade, Opp. Sattapir, Tower Road, Navsari Tel No. : / / / Fax No. : New Delhi - 2E / 23, Jhandewalan Extension, New Delhi Tel No. : Fax No. : Noida Jaipuria Plaza;D 68 A, 2nd Floor, Opp Delhi Public School, Sector 26, Noida Tel No. : Panjim - City Business Centre, Coelho Pereira Building, Room Nos.18,19 & 20, Dada Vaidya Road, Panjim Tel No. : Fax No. : Patna - 3A, 3rd Floor, Anand Tower, Beside Chankya Cinema Hall; Exhibition Road, Patna Tel No. : / / Pune - Shop No. 16, 17 & 18, Ground Floor, Sreenath Plaza, Dyaneshwar Paduka Chowk, F. C. Road, Pune Tel No. : / / / Fax No. : Raipur - Room No. TF 31, 3rd Floor, Millennium Plaza, Behind Indian Coffee House, G E Road, Raipur Tel No. : / Rajkot - 104, Siddhi Vinayak Complex, Dr. Yagnik Road, Opp Ramkrishna Ashram, Rajkot Tel No. : Ranchi - Commerce Towers, 3rd Floor, Room No. 307, Beside Mahabir Towers, Main Road, Ranchi Tel No. : / / Fax No. : Rourkela - 1st Floor, Sandhu Complex, Kanchery Road, Udit Nagar, Rourkela Tel No. : / / Sambalpur - Quality Massion, 1st Floor, Above Bata Shoe Shop/ Preeti Auto Combine, Nayapara, Sambalpur Tel No. : / / / / Siliguri - Nanak Complex, Near Church Road, Sevoke Road, Siliguri Surat - G-6 Empire State Building, Near Parag House, Udhna Darwaja, Ring Road, Surat Tel No. : Trichy - Sri krishna Arcade, 1st Floor; 60 Thennur High Road, Trichy Tel No. : / Fax No. : Udaipur , Madhav Chambers, Opp. G.P.O, Chetak Circle, Madhuban, Udaipur Tel No. : / / / Valsad - Shop No 2, Phiroza Corner, Opp Next Showroom; Tithal Road, Valsad Tel No. : / Vapi - Shop No 5, Phikhaji Residency, Opp DCB Bank, Vapi Silvassa Road, Vapi Tel No. : Varanasi - D-64/132,KA 1st Floor, Anant Complex, Sigra, Varanasi Tel No. : / / / / Vijayawada Opp : Municipal Water Tank, Labbipet, Vijayawada Tel No. : / / Fax No. : Visakhapatnam /1 Eswar Paradise, Dwaraka Nagar; Main Road, Visakhapatnam Tel. No. : / / / / , Fax No. :