ICICI Prudential Gold Exchange Traded Fund (An Open Ended Exchange Traded Fund)

Transcription

1 Name of the Asset Management Company: ICICI Prudential Asset Management Company Limited Name of the Mutual Fund: ICICI Prudential Mutual Fund KEY INFORMATION MEMORANDUM ICICI Prudential Gold Exchange Traded Fund (An Open Ended Exchange Traded Fund) This Product is suitable for investors who are seeking*: Long term wealth creation solution HIGH RISK A Gold exchange traded fund that seeks to provide investment returns (BROWN) that closely track domestic prices of Gold, subject to tracking error. * Investors should consult their financial advisers if in doubt about whether the product is suitable for them Note: Risk may be represented as: (BLUE) investors understand that their principal will be at low risk (YELLOW) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk Offer of Units at NAV based prices for creating units on an on-going basis. The units of the scheme are listed on BSE Limited and National Stock Exchange of India Limited Sponsors ICICI Bank Limited: Regd. Office: Landmark, Race Course Circle, Vadodara , India; and Prudential plc (formerly known as Prudential Corporation plc) (through its wholly owned subsidiary, Prudential Corporation Holdings Limited): Laurence Pountney Hill, London EC4R OHH, United Kingdom Trustee ICICI Prudential Trust Limited - CIN: U74899DL1993PLC Regd. Office: 12th Floor, Narain Manzil, 23, Barakhamba Road, New Delhi Investment ICICI Prudential Asset Management Company Limited Manager CIN: U99999DL1993PLC Regd. Office: 12th Floor, Narain Manzil, 23, Barakhamba Road, New Delhi Corporate Office: 3rd Floor, Hallmark Business Plaza, Sant Dyaneshwar Marg, Bandra (East), Mumbai , Tel: (91) (022) , Fax: (022) Central Service Office: 2nd Floor, Block B-2, Nirlon Knowledge Park, Western Express Highway, Goregaon (East), Mumbai Tel: (91) (22) , Fax: (91)(22) Website: enquiry@icicipruamc.com 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 AMC, Key Personnel, Investor's rights & services, risk factors, penalties & litigations etc. investor should, before investment, refer to the Scheme Information Document and Statement of Additional Information available free of cost at any of the Investor Service Centre or distributors or from the website The particulars of ICICI Prudential Gold Exchange Traded Fund (An Open Ended Exchange Traded Fund) have been prepared in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended till date, and filed with the Securities and Exchange Board of India (SEBI). The Units being offered for public subscription have not been approved or disapproved by the SEBI nor has SEBI certified the accuracy or adequacy of this KIM. Disclaimer by the National Stock Exchange of India Limited: It is to be distinctly understood that the permission given by National Stock Exchange of India Limited (NSE) should not in any way be deemed or construed that the Scheme Information Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Scheme Information Document. The investors are advised to refer to the Scheme Information Document for the full text of the 'Disclaimer Clause of NSE. Disclaimer by the BSE Limited: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the SID has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the SID. The investors are advised to refer to the SID for full text of the Disclaimer Clause of the BSE Limtied. Investment Objective: To seek to provide investment returns that, before expenses, closely track the performance of domestic prices of Gold derived from the London Bullion Market Association (LBMA) AM fixing prices. However, the performance of the scheme may differ from that of the underlying gold due to tracking error. There can be no assurance or guarantee that the investment objective of the Scheme will be achieved. The fund is not actively managed. It does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of gold. Asset Allocation Pattern of the Scheme: Instrument Indicative allocations Risk Profile (% of total Assets) Maximum Minimum High/Med/Low Gold bullion and instruments with Gold as 100% 95% Medium underlying that may be specified by SEBI Debt & Money Market Instruments 5% 0% Low to Medium (including cash & cash equivalent)* *Investments in Securitised debt shall be limited to the maximum exposure allowed to the debt instruments as per above asset allocation. Note: Whenever, SEBI notifies any instrument having Gold as an underlying asset, the scheme may invest in such instruments. The above percentages would be adhered to at the point of investment in a stock. The portfolio would be reviewed periodically to address any deviations from the aforementioned allocations due to market changes. It may be noted that no prior intimation/indication would be given to investors when the composition/asset allocation pattern under the scheme undergo changes within the permitted band as indicated above or for changes due to defensive positioning of the portfolio with a view to protect the interest of the unitholders on a temporary basis. The investors/unitholders can ascertain details of asset allocation of the scheme as on the last date of each month on AMC's website at that will display the asset allocation of the scheme as on the given day. Investors may note that securities, which endeavour to provide higher returns typically, display higher volatility. Accordingly, the investment portfolio of the Scheme would reflect moderate to high volatility in its equity and equity related investments and low to moderate volatility in its debt and money market investments. Subject to the 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 stated above are only indicative and not absolute and that they 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. Such changes in the investment pattern will be for maximum period of 15 days and defensive considerations. Investment Strategy of the Scheme: 1. The AMC uses a "passive" approach to try and achieve scheme investment objective. The scheme invests in gold as an asset regardless of such investment merit. 2. The Scheme will invest at least 95% of its total assets in the Gold or gold related securities. It may hold upto 5% of their total assets in debt or money market securities. Expectation is that, over time, the tracking error of the Scheme relative to the performance of the Underlying Index will be relatively low. 3. The Investment Manager would monitor the tracking error of the Scheme on an ongoing basis and would seek to minimize tracking error to the maximum extent possible. There can be no assurance or guarantee that the Scheme will achieve any particular level of tracking error relative to performance of the benchmark Index. 4. All the Investment decision will be taken by the designated Fund Manager under the supervision of Chief Investment Officer. 5. Any other strategy notified by the regulators from time to time. Risk Profile of the Scheme: Mutual Fund Units involve investment risks including the possible loss of principal. Please read the Scheme Information Document (SID) carefully for details on risk factors before investment. Scheme specific Risk Factors are summarized below: 1. The scheme would invest in Gold and Gold-linked instrument(s). Accordingly, the NAV of the scheme will react to Gold price movements. Units of the fund are listed on a stock exchanges; hence the scheme NAV would also react to general stock market fluctuations. 2. Although units are listed on an exchanges, there can be no assurance that an active secondary market will develop or be maintained. Prices of units, which are proposed to be listed and traded, could be impacted by thin liquidity in the secondary market as these funds may not be actively traded. 3. Risk of passive investment: The scheme is not actively managed. The scheme may be affected by a general price decline in the gold prices. The scheme ultimately invests in gold as an asset class regardless of such investment merit. The AMC does not attempt to take defensive positions in declining markets. 4. Tracking error risk: The performance of the scheme may not be commensurate with the performance of the benchmark index on any given day or over any given period. Such variation, referred to as tracking error may impact the performance of the scheme. However, the Investment Manager would monitor the tracking error of the Scheme on an ongoing basis and would seek to minimize tracking error to the maximum extent possible. Investable surplus remaining idle increases the tracking error and hence acts as a risk factor. 5. Trading in units on the exchange may be halted because of market conditions or for reasons that in view of exchange authorities or SEBI, trading in units of the Scheme is not advisable. In addition, trading in units is subject to trading halts caused by extraordinary market volatility and pursuant to exchange and SEBI 'circuit filter' rules. There can be no assurance that the requirements of exchange necessary to maintain the listing of the units will continue to be met or will remain unchanged. 6. The units may trade above or below their NAV. The NAV of the Scheme will fluctuate with changes in the market value of holdings. The trading prices will fluctuate in accordance with changes in their NAV as well as market supply and demand. However, given that units can be created and redeemed in Creation Units, it is expected that large discounts or premiums to the NAV will not sustain due to arbitrage opportunity available. 7. Any changes in trading regulations by the Stock Exchange(s) or SEBI may affect the ability of market maker to arbitrage resulting into wider premium/ discount to NAV. 8. The returns from physical gold in which the scheme invests may under perform returns from the various general securities markets or different asset classes other than gold. Different types of securities tend to go through cycles of out-performance and underperformance in comparison to the general securities markets. 9. The scheme is not actively managed. The scheme may be affected by a general price decline in the gold prices. The scheme ultimately invests in gold as an asset class regardless of such investment merit. The AMC does not attempt to take defensive positions in declining markets. 10. Gold ETFs are relatively new product and their value could decrease if unanticipated operational or trading problems arise. 11. An investment in the scheme may be adversely affected by competition from other methods of investing in gold. 12. The Trustee, in the general interest of the unit holders of the Scheme offered under this Scheme Information Document and keeping in view of the unforeseen circumstances/ unusual market conditions, may limit the total number of Units which can be redeemed on any Business Day. 13. For the valuation of units, indirect taxes like customs duty, VAT, etc would also be considered. Hence, any change in the rates of indirect taxation would affect the valuation of the units of this Scheme. 14. The Fund may also invest in gold related instruments, money market instruments, bonds & other debt securities as permitted under the Regulations which are subject to price, credit and interest rate risk. Trading volumes and settlement periods and transfer procedures may restrict liquidity in debt investments. 15. Insufficient risk disclosures in the scheme information document on e.g. loss, damage, theft, inadequate sources of recovery of such loss, risk of failure by sub-custodian which may temporarily hold gold while in transit. Please refer to the SID for further details. Risk management strategies: The Fund by utilizing a holistic risk management strategy will endeavor to manage risks associated with investing in gold. The risk control process involves identifying & measuring the risk through various risk measurement tools. The Fund has identified following risks of investing in gold and designed risk management strategies, which are embedded in the investment process to manage such risks. Risk & Description Risk mitigants / management strategy Market risk: The scheme is vulnerable to movements in the prices of gold, which shall have a material bearing on the overall returns from the scheme Liquidity risk: The liquidity of the Scheme's investments is inherently restricted by trading volumes in the securities in which it invests. The scheme is not actively managed. The scheme may be affected by a general price decline in the gold prices. The scheme ultimately invests in gold as an asset class regardless of such investment merit. The AMC does not attempt to take defensive positions in declining markets. Purchase of gold: All bullion banks have access to the international markets for purchase of gold. Sale of gold: The bullion banks are not allowed to sell the gold back in the international markets. However, sale of gold to meet the expenses of the scheme would require gold to be sold in very small quantities which would be bought by the Bullion Bank.

2 Risk & Description Event risk: Risk of loss, damage, theft, impurity etc. of gold Tracking Error Risk: The performance of the scheme may not be commensurate with the performance of the benchmark index on any given day or over any given period, which is referred to as the tracking error. Risk mitigants / management strategy The custodian shall insure / cover all such risks. Over a short to medium period, schemes may carry the risk of variance between portfolio composition and Benchmark. The objective of the Scheme is to closely track the performance of the Underlying Index over the same period, subject to tracking error. The Scheme would endeavor to maintain a low tracking error by actively aligning the portfolio in line with the index. Plans and Options: At present no plans/options/sub-options are available under the Scheme. The Trustee reserves the right to introduce any plan(s)/option(s)/sub-option(s) under the Scheme at a later date, by providing a notice to the investors on the AMC's website and by issuing a press release, prior to introduction of such plan(s)/option(s)/sub-option(s). Purchases on an ongoing basis: An investor can buy units of the scheme on a continuous basis on the National Stock Exchange of India Ltd., and BSE Limited where the units of the scheme are listed and traded like any other publicly traded securities at prices which may be close to the actual NAV of the scheme. The minimum number of units that can be bought is 1 unit. The trading lot is one unit of the scheme. Investors can purchase units of the scheme at market prices, which may be at a premium/discount to the NAV of the scheme depending upon the demand and supply of units of the scheme at the exchanges. Trustees/ AMC will not be responsible for price vagaries in the quoted price of the units on NSE/BSE. Investors (Authorised Participant/Large Investors) also can purchase/redeem units of the Scheme from/with the AMC in creation unit size. PUBLICATION OF DAILY NET ASSET VALUE (NAV): NAV will be calculated and disclosed at the close of every business day. NAV shall be published at least in two daily newspapers having circulation all over India. NAV shall be made available at all Customer Service Centers of the AMC. AMC shall update the NAVs on the website of Association of Mutual Funds in India - AMFI ( and AMC website ( by 9:00 p.m. on every Business Day. Minimum Application Amount: For Purchases/Redemption: Units will be created in a minimum size of 1000 gold units through Authorised Participants and Large Investors. Minimum Application amount through stock exchange is one unit. Creation of Units by the Fund: Each unit of the scheme represents a fractional undivided beneficial interest in the net assets of the trust. The assets of the fund consist primarily of gold held by the custodian on behalf of the fund and other debt and money market investments held in the fund. Each unit of the Scheme (before expenses) will closely correspond to the value of 1 gm of domestic gold prices derived from the LBMA AM fixing prices. Creation Unit Size: 'Creation Unit' is a fixed number of units, which is exchanged for Portfolio Deposit which would consist of physical Gold of defined purity and quantity and Cash Component. The facility of creating/redeeming units in Creation Unit size will be available to the Authorized Participants and Large Investors when the Scheme opens for ongoing subscription. Each creation unit consists of 1000 units of the scheme and cash component, if any. The Fund may from time to time change the size of the creation unit in order to equate it with marketable lots of the underlying instruments. Authorized Participant (AP): Authorised participant means any person who is appointed by the AMC through an agreement entered between the AMC and such AP and is eligible to deal in the creation unit size of the scheme. Large Investors: Large investors are those who are eligible to deal in the creation unit size of the scheme. Portfolio Deposit: The Portfolio Deposit will be a deposit of physical Gold and will be for one kg and in multiples of one kg. The value of Portfolio Deposit will vary due to changes in the prices during the day. Cash Component: Cash Component represents the difference between the applicable net asset value of Creation Unit and the market value of physical Gold as determined by LBMA. This difference will represent accrued interest, income earned by the Scheme, accrued annual charges including management fees and residual cash in the Scheme. In addition the Cash Component will include transaction cost as charged by the Custodian, Depositories, fees payable to exchanges and other incidental expenses for creating / redeeming units. The cash component will vary from time to time and will be decided and announced by the AMC. Cash Component may also include load, if applicable. The load will be declared by the AMC from time to time and will be within the limits specified under the Regulations. Illustration:As explained above, the Creation Unit is made up of 2 components i.e. Portfolio Deposit and Cash Component. The Portfolio Deposit will be determined by Fund. The Portfolio Deposit will be physical Gold and will be for 1 kg and in multiple of 1 kg. The value of Portfolio Deposit will change due to changes in the prices during the day. The cash component will be arrived in the following manner: Number of units comprising one Creation Unit 1,000 NAV per unit Rs.1, Value of 1 creation unit Rs.1,737,670 Value of Portfolio Deposit (physical Gold of 1 kg) Rs.1,735,000 Cash Component (by Cheque/Demand Draft) Rs.2,670 1 % VAT on 1 creation unit will be payable by investor at the time of redemption. Please note that the above example is given for illustration purposes only. Some assumptions have been made with respect to prices of gold and NAV of the Scheme for the sake of portfolio deposit. The price of gold does not reflect the current prices of gold. Other expenses/fees payable to the Custodian, depositories, exchanges etc are not considered in the illustration which may also need to be payable by the investor. The investor has to deposit or will receive at least 1 kilogram of physical gold & in multiples of 1 kilogram thereof in order to create / redeem units of the Scheme. The Authorised Participants and Large Investors can directly buy the units from the funds in Creation Unit Size by exchanging portfolio deposit The requisite physical gold constituting the Portfolio Deposit have to be submitted to the Custodian while the Cash Component has to be paid to the Custodian/AMC., At any further date, the AMC may accept such physical gold. On confirmation of the same by the Custodian/ AMC that the predefined quantity and purity of physical gold has been received, the AMC will endeavour to create the respective number of units of the Scheme into the investor's DP account within 10 working days in any case not exceeding 30 days. The AMC may create "Creation Unit" prior to receipt of all or a portion of the relevant Portfolio Deposit and Cash Component in certain circumstances where the purchaser, among other things, posts collateral to secure its obligation to deliver such outstanding Portfolio Deposit Securities and in the form of Cash Component. The Portfolio Deposit and Cash Component for units may change from time to time due to change in NAV. The Fund may from time to time change the size of creation unit size in order to equate it with marketable lot of underlying instruments. The creation request can be made to the Fund in a duly filled application form. Application Forms for Creation of gold units can be obtained from the office of AMC, Registrars and Transfer Agents Subsequent Creation / Redemption at the Stock Exchange: It may be noted that the units of the Scheme are proposed to be listed on NSE & BSE. Investors can buy or sell units on a continuous basis on the NSE & BSE or other recognised stock exchange where units are proposed to be listed and traded like any other publicly traded securities at market prices which may be close to the actual NAV of the scheme. The trading lot is one unit. Investors can purchase units at market prices, which may be at a premium/discount to the NAV of the scheme depending upon the demand and supply of units at the exchanges. Alternatively, authorised Participants and Large Investors can directly buy or sell in 'Creation Unit' Size from the fund on any business day. The mutual fund will also repurchase units from authorised Participants and Large Investors on any business day provided the units offered for repurchase is not less than 1000 units or such other size as may be changed from time to time in order to equate it with marketable lots of the underlying instruments. The AMC may at its own discretion, allow cash purchases (by accepting cheque/demand draft) from the authorized Participants/ others in lieu of portfolio deposit towards creation of units. Purchase request for creation units shall be made by such investors to the AMC whereupon the AMC will arrange to buy the gold of the specified purity. All the fees/charges/expenses incurred for acquistion of gold shall be charged to such investors. Investors are requested to note that the brokerage for purchase or sale of units of the Scheme on the exchange is to be borne by the investors themselves. The AMC will appoint Authorised Participants to provide liquidity in secondary market on an ongoing basis. The Authorised Participants would offer daily two way quote in the market. Applicable NAV Net Asset Value per Unit of the Schemes as declared by the Fund and applicable for valid Purchase/Redemption requests of Units of the Scheme, based on the Business Day and Cut-off times at which the application is received and accepted and also subject to compliance with other conditions as mentioned in the Scheme Information Document. Redemption of Units from the Fund: The requisite number of units equaling the Creation Unit has to be transferred to the Fund's DP account and the Cash Component to be paid to the AMC/ Custodian. On confirmation of the same by the AMC, the Custodian will transfer the Portfolio Deposit by transfer of gold of the predefined purity and quantity to the investor s account and pay the Cash Component, if applicable within 10 days of receipt of redemption request. The AMC may redeem Creation Unit of units prior to receipt of all or portion of the relevant units in certain circumstances where the purchaser, among other things, posts collateral to secure its obligation to deliver such outstanding units. The Portfolio Deposit and Cash Component for the units of the Scheme may change from time to time due to change in NAV. The Fund may from time to time change the size of creation unit size in order to equate it with marketable lot of underlying physical gold. Despatch of Redemption Proceeds: Upon receipt of redemption request by the AMC, gold will be transferred to Authorised Participant or Large Investors within 10 working days of receipt of redemption request or transfer of units to Fund's DP account by the investor alongwith the cash component whichever is later. For details on 'Right to Limit Redemption' and 'Suspension of Sale and Redemption of Units', please refer to the Scheme Information Document of the Scheme. Cut off timing for subscriptions/redemptions: 3.00 pm for the transactions received directly by the AMC/Registrar. Benchmark Index: ICICI Prudential Gold Exchange Traded Fund will be benchmarked against the domestic price of gold as derived from the LBMA AM fixing prices. The Trustees reserves the right to change the benchmark in future if a benchmark better suited to the investment objective of the scheme is available. Dividend Policy: The Trustee reserves the right to declare dividends under the Scheme depending on the net distributable surplus available under the Scheme. It should, however, be noted that actual distribution of dividends and the frequency of distribution will depend, inter-alia, on the availability of distributable surplus and will be entirely at the discretion of the Trustee. Name of the Fund Manager: Mr. Manish Banthia, Name of the Trustee Company: ICICI Prudential Trust Limited AAUM as on March 31, 2014: Rs Crores Number of Folios as on March 31, 2014: 4,241 Comparison with Existing Schemes: Presently, there are no comparable schemes managed by the AMC. Performance of the Scheme: Performance Record as on 31-Mar-14: Period Scheme Returns Gold 1 Year -7.39% -6.58% 3 Year 8.89% 10.07% Since Inception (24-Aug-10) 10.31% 11.54% Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other investment. Returns are CAGR. Benchmark is Price of Gold as derived from the LBMA AM Fixing Prices. For computation of since inception returns the allotment NAV has been taken as Rs Absolute Returns for each financial year: 40.00% 30.00% 20.00% 10.00% 0.00% % to to to to to ICICI Prudential Gold Exchange Traded Fund -7.45% 3.84% 34.36% - - LBMA AM Fixing Prices -6.63% 4.01% 37.04% - - Past performance may or may not be sustained in future. 1. Load Structure: Entry load: Not Applicable. In terms of SEBI circular no. SEBI/IMD/CIR No. 4/ /09 dated June 30, 2009 has notified that, w.e.f. August 01, 2009 there will be no entry load charged to the schemes of the Mutual Fund and the the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit load: Nil There will be no exit load on units bought or sold through the NSE/BSE. Investors are requested to note that the brokerage for purchase or sale of units of the Scheme on the exchange is to be borne by the investors themselves. Actual expenses for the previous financial year as on March 31, 2014: 0.94% of applicable NAV

3 Waiver of load for Direct Applications: Not Applicable. Pursuant to SEBI circular no. SEBI/ IMD/CIR No.4/ /09 dated June 30, 2009 no entry load shall be charged for all mutual fund schemes. Therefore, the procedure for waiver of load for direct applications is no longer applicable. TAX BENEFITS OF INVESTING IN THE MUTUAL FUND: Investors are advised to refer to Statement of Additional Information (SAI) available on the website of AMC viz; and also independently refer to his tax advisor. For Investor Grievances please contact: Name and Address of Registrar Name, address, telephone number, fax number, address of ICICI Prudential Mutual Fund Computer Age Management Ms. Yatin Suvarna Investor Relations Officer Services Pvt. Ltd. (CAMS) ICICI Prudential Asset Management Company Ltd. Unit: ICICI Prudential Mutual Fund 2nd Floor, Block B-2, Nirlon Knowledge Park, New No 10. Old No. 178, Western Express Highway, Goregaon (East), Opp. to Hotel Palm Grove, Mumbai MGR Salai (K.H.Road), Phone: (91)(22) , Fax: (91)(22) Chennai enquiry@icicipruamc.com UNITHOLDERS INFORMATION: The AMC shall disclose portfolio of all the schemes on the website alongwith ISIN on a monthly basis as on last day of each month, on or before tenth day of the succeeding month. The Fund shall before the expiry of one month from the close of each half year, that is as on March 31 and September 30, publish its scheme portfolios in one English daily newspaper having all India circulation and in a newspaper published in the language of the region where the Head Office of the AMC is situated in the prescribed format and update the same on AMC's website at and AMFI's website In terms of Regulations 59 and SEBI circular no. CIR/IMD/DF/21/2012 dated September 13, 2012, the AMC shall within one month from the close of each half year, that is on 31st March and on 30th September, host a soft copy of its unaudited financial results on their website. The half-yearly unaudited report shall contain details as specified in Twelfth Schedule and such other details as are necessary for the purpose of providing a true and fair view of the operations of the mutual fund. Further, the AMC shall publish an advertisement disclosing the hosting of such financial results on their website, in atleast 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. It is hereby notified that wherever the investor(s) has/have provided his/their address in the application form in any of the folio belonging to the investor(s), the Fund/ Asset Management Company reserves the right to use Electronic Mail ( ) as a default mode to send various communications for transactions done by the investor(s). TRANSACTION CHARGES Pursuant to SEBI Circular No. Cir/ IMD/ DF/13/ 2011 dated August 22, 2011 transaction charge per subscription of Rs.10,000/- and above may be charged in the following manner: i. The existing investors may be charged Rs.100/- as transaction charge per subscription of Rs.10,000/- and above; ii. A first time investor may be charged Rs.150/- as transaction charge per subscription of Rs.10,000/- and above. There shall be no transaction charge on subscription below Rs. 10,000/- and on transactions other than purchases/ subscriptions relating to new inflows. Investors may note that distributors can opt to receive transaction charges based on 'type of the Scheme'. Accordingly, the transaction charges would be deducted from the subscription amounts, as applicable. The aforesaid transaction charge shall be deducted by the Asset Management Company from the subscription amount and paid to the distributor, as the case may be and the balance amount shall be invested in the relevant scheme opted by the investor. However, upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by such distributor. Transaction Charges shall not be deducted if: Purchase/Subscription made directly with the fund through any mode (i.e. not through any distributor/agent). Purchase/ subscription made through stock Exchange, irrespective of investment amount. CAS/ Statement of account shall state the net investment (i.e. gross subscription less transaction charge) and the number of units allotted against the net investment. CONSOLIDATED ACCOUNT STATEMENT (CAS): 1. The Consolidated Account Statement (CAS) for each calendar month will be issued on or before tenth day of succeeding month to the investors who have provided valid Permanent Account Number (PAN). Due to this regulatory change, AMC shall now cease to send physical account statement to the investors after every financial transaction** including systematic transactions. Further, CAS will be sent via where any of the folios consolidated has an id or to the id of the first unit holder as per KYC records. **The word 'financial transaction' shall include purchase, redemption, switch, dividend payout, dividend reinvestment, systematic investment plan, systematic withdrawal plan, systematic transfer plan and bonus transactions. 2. For folios not included in the Consolidated Account Statement (CAS), the AMC shall henceforth issue account statement to the investors on a monthly basis, pursuant to any financial transaction in such folios on or before tenth day of succeeding month. In case of a New Fund Offer Period (NFO), the AMC shall send confirmation specifying the number of units allotted to the applicant by way of a physical account statement or an and/or SMS's to the investor's registered address and/or mobile number not later than five business days from the date of closure f the NFO. 3. In case of a specific request received from the unit holder, the AMC shall provide he account statement to the investors within 5 business days from the receipt of uch request. 4. In the case of joint holding in a folio, the first named Unit holder shall receive the AS/ account statement. The holding pattern has to be same in all folios across utual Funds for CAS. Further, in case if no transaction has taken place in a folio during the period of six onths ended September 30 and March 31, the CAS detailing the holdings across all Schemes of all mutual funds, shall be ed at the registered address of the unitholders on half yearly basis, on or before tenth day of succeeding month, unless specific request is made to receive the same in physical form. In case of the units are held in dematerialized (demat) form, the statement of holding of the beneficiary account holder will be sent by the respective Depository Participant eriodically. The AMC reserve the right to furnish the account statement in addition to the CAS,if deemed fit in the interest of investor(s). MAILING OF SCHEME WISE ANNUAL REPORT OR ABRIDGED SUMMARY: Pursuant to Securities and Exchange Board of India (Mutual Funds) (Amendments) Regulations, 2011 dated August 30, 2011 read with SEBI circular No. Cir/ IMD/ DF/16/ 2011 dated September 8, 2011, the unit holders are requested to note that scheme wise annual report and/or abridged summary of annual reports of the Schemes of the Fund shall be sent to the unit holders only by at their address registered with the Fund. Physical copies of the annual report or abridged summary of annual reports will be sent to those Unit holders whose address is not available with the Fund and/or who have specifically requested or opted for the same. The unit holders are requested to update/ provide their address to the Fund for updating the database. Physical copy of the scheme wise annual report or abridged summary will be available to the unit holders at the registered office of the Fund/AMC. A separate link to scheme annual report or abridged summary is available on the website of the Fund. As per regulation 56(3) of the Regulations, copy of Schemewise Annual Report shall be also made available to unitholder on payment of nominal fees. Further as per Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2008 Notification dated September 29, 2008 & SEBI Circular No. SEBI/IMD/CIR No. 10/141712/ 08 October 20, 2008, the schemewise Annual Report of a mutual fund or an abridged summary shall be mailed to all unitholders as soon as may be possible but not later than four months from the date of closure of the relevant accounts year. Note: The Scheme under this document was approved by the Directors of ICICI Prudential Trust Limited on September 9, 2009 by circulation. Place : Mumbai Date : April 29, 2014 For and on behalf of the Board of Directors of ICICI Prudential Asset Management Company Limited Sd/- Nimesh Shah Managing Director

4 Ahmedabad: 307, 3rd Floor, Zodiac Plaza, Beside Nabard Vihar, Near St. Xavier s College Corner, H.L. Collage Road, Off C. G. Road, Ahmedabad , Gujarat Bangalore (M G Road): Phoenix Pinnacle, First Floor, Unit , No 46, Ulsoor Road, Bangalore , Karnataka Baroda: 2nd Floor, Offc No 202, Goldcroft, Jetalpur Road, Alkapuri, Vadodara , Gujarat Bhopal: MF-26/27 Block-C, Mezzanine Floor, Mansarovar Complex, Hoshangabad Road, Bhopal , Madhya Pradesh Bhubhaneshwar: Rajdhani House, 1st Floor, Front Wing, 77, Janpath, Kharvel Nagar, Bhubhaneshwar , Orissa Chandigarh: SCO , F.F, Sec-9C, Chandigarh , Chandigarh Chennai- Lloyds Road: Abithil Square,189, Lloyds Road,Royapettah, Chennai , Tamil Nadu Cochin: #956/3 & 956/4 2nd Floor, Teepeyam Towers, Kurushupally Road, Off MG Road, Ravipuram, Kochi , Kerala Coimbatore: Shylaja Complex, First Floor, No 575 C, D.B. Road, Near Post Office Signal, R. S. Puram, Coimbatore , Tamil Nadu Dehradun: 1st Floor, Opp. St. Joseph school back gate, 33, Subhash road, Dehradun , Uttaranchal Durgapur : Mezzanine Floor, Lokenath Mansion, Sahid Khudiram Sarani, CityCentre, Durgapur , West Bengal Guwahati : Jadavbora Complex, M.Dewanpath, Ullubari, Guwahati , Assam Hyderabad-Begumpet: Gowra Plaza, 1st Floor, No: /381/444,S.P. Road, Begumpet, Secunderabad, Hyderabad , Andhra Agartala: Advisor Chowmuhani (Ground Floor) Krishnanagar, Agartala , Tripura Agra: No. 8, II Floor Maruti Tower Sanjay Place, Agra , Uttar Pradesh Ahmedabad: ,1st Floor, Devpath Building, off : C G Road, Behind lal Bungalow, Ellis Bridge, Ahmedabad, Ahmedabad , Gujarat Ajmer: Shop No.S-5, Second Floor Swami Complex, Ajmer , Rajasthan Akola : Opp. RLT Science College Civil Lines, Akola , Maharashtra Aligarh: City Enclave, Opp. Kumar Nursing Home Ramghat Road, Aligarh , Uttar Pradesh Allahabad: 30/2, A&B, Civil Lines Station, Besides Vishal Mega Mart, Strachey Road, Allahabad , Uttar Pradesh Alleppey: Doctor s Tower Building, Door No. 14/2562, 1st floor, North of Iorn Bridge, Near Hotel Arcadia Regency, Alleppey , Kerala Alwar: 256A, Scheme No:1, Arya Nagar, Alwar , Rajasthan Amaravati : 81, Gulsham Tower, 2nd Floor Near Panchsheel Talkies, Amaravati , Maharashtra Ambala : Opposite PEER, Bal Bhawan Road, Ambala , Haryana Amritsar: SCO - 18J, C Block, Ranjit Avenue, Amritsar , Punjab Anand: 101, A.P. Tower, B/H, Sardhar Gunj Next to Nathwani Chambers, Anand , Gujarat Anantapur: , I Floor Pallavi Towers, Anantapur , Andhra Pradesh Andheri (parent: Mumbai ISC): CTS No 411, Citipoint, Gundivali, Teli Gali, Above C.T. Chatwani Hall, Andheri , Maharashtra Ankleshwar: Shop # F -56,1st Floor, Omkar Complex,Opp Old Colony, Near Valia Char Rasta, G.I.D.C., Ankleshwar , Gujarat Asansol: Block G 1st Floor P C Chatterjee Market Complex Rambandhu Talab P O Ushagram, Asansol , West Bengal Aurangabad: Office No. 1, 1st Floor Amodi Complex Juna Bazar, Aurangabad , Maharashtra Balasore: B C Sen Road, Balasore , Orissa Bangalore: Trade Centre, 1st Floor 45, Dikensen Road (Next to Manipal Centre), Bangalore , Karnataka Bareilly: F-62-63, Butler Plaza Civil Lines, Bareilly , Uttar Pradesh Belgaum: Tanish Tower CTS No. 192/A, Guruwar Peth Tilakwadi, Belgaum , Karnataka Bellary: CAMS Service centre,# 60/5, Mullangi Compound, Gandhinagar Main Road, (Old Gopalswamy Road), Bellary , Karnataka Berhampur: First Floor, Upstairs of Aaroon Printers Gandhi Nagar Main Road, Berhampur , Orissa Bhagalpur: Dr R P Road Khalifabag Chowk, Bhagalpur , Bihar Bharuch (parent: Ankleshwar TP): F-108, Rangoli Complex Station Road, Bharuch , Gujarat Bhatinda: 2907 GH,GT Road Near Zila Parishad, Bhatinda , Punjab Bhavnagar: , Sterling Point Waghawadi Road Opp. HDFC Bank, Bhavnagar , Gujarat Bhilai: Shop No. 117,Ground Floor, Khicharia Complex, Opposite IDBI Bank, Nehru Nagar Square, Bhilai , Chattisgarh Bhilwara: Indraparstha tower Shop Nos , Second floor, Shyam ki sabji mandi Near Mukharji garden, Bhilwara , Rajasthan Bhopal: Plot No. 10, 2nd floor, Alankar Complex, Near ICICI Bank, M P Nagar, Zone II, Bhopal , Madhya Pradesh Bhubaneswar: 101/ 7, Janpath, Unit-III, Bhubaneswar , Orissa Bhuj: Data Solution, Office No:17 I st Floor ICICI Prudential Mutual Fund Official Points of Acceptance Pradesh Indore: Starlit Tower,29/1 Y N Road, Indore , Madhya Pradesh Jaipur: Building No 1, Opp Amrapura Sthaan, M.I. Road, Jaipur , Rajasthan Jamshedpur : Office # 7, II Floor, Bharat Business Centre, Holding # 2, Ram Mandir Area, Bistupur, Jamshedpur , Jharkhand Kalyani: B- 9/14 (C.A), 1st Floor, Central Park, Dist- Nadia, Kalyani , West Bengal Kanpur: , Krishna Tower, 15/63, Civil Lines,Opp. U.P. Stock Exchange, Kanpur , Uttar Pradesh Kolhapur: 1089, E Ward, Anand Plaza, Rajaram Road, Kolhapur , Maharashtra Kolkata - Dalhousie: Room no. 302, 3rd Floor, Oswal Chambers,2, Church Lane, Kolkata , West Bengal Kolkata - Lords : 227, AJC Bose Road, Anandalok, 1st Floor, Room No. 103/103 A, Block - B, Kolkata , West Bengal Lucknow: 1st Floor Modern Business Center,19 Vidhan Sabha Marg, Lucknow , Uttar Pradesh Ludhiana: SCO 121, Ground Floor, Feroze Gandhi Market, Ludhiana , Punjab Mumbai - Fort: ICICI Prudential Asset Management Co Ltd, 2nd Floor, Brady House,12/14 Veer Nariman Road Fort, Mumbai , Maharashtra Mumbai - Goregaon: 2nd Floor, Block B-2, Nirlon Knowledge Park, Western Express Highway, Goregaon, Mumbai , Maharashtra Mumbai-Borivli: ICICI Prudential Mutual Fund, Ground Floor, Suchitra Enclave Maharashtra Lane, Borivali (West), Mumbai , Maharashtra Mumbai-Khar: ICICI Prudential Mutual Fund, Toll Free Numbers: (MTNL/BSNL) ; (Others) Website: Municipal Building Opp Hotel Prince Station Road, Bhuj - Kutch , Gujarat Bhusawal (Parent: Jalgaon TP): 3, Adelade Apartment Christain Mohala, Behind Gulshan-E-Iran Hotel Amardeep Talkies Road Bhusawal, Bhusawal , Maharashtra Bikaner: F 4, 5 Bothra Complex, Modern Market, Bikaner , Rajasthan Bilaspur: Beside HDFC Bank Link Road, Bilaspur , Chattisgarh Bokaro: Mazzanine Floor, F-4, City Centre Sector 4, Bokaro Steel City , Bokaro , Jharkhand Burdwan: 399, G T Road Basement of Talk of the Town, Burdwan , West Bengal Calicut: 29/97G 2nd Floor Gulf Air Building Mavoor Road Arayidathupalam, Calicut , Kerala Chandigarh: Deepak Towers, SCO , 1st Floor, Sector17-C, Chandigarh , Punjab Chennai: Ground Floor No.178/10, Kodambakkam High Road Opp. Hotel Palmgrove Nungambakkam, Chennai , Tamil Nadu Chennai: 7th floor, Rayala Tower - III,158, Annasalai,Chennai, Chennai , Tamil Nadu Chennai: Ground floor, Rayala Tower- I,158, Annasalai, Chennai, Chennai , Tamil Nadu Cochin: Door No. 64/5871 D, 3rd Floor, Ittoop s Imperial Trade Center, M. G. Road (North), Cochin , Kerala Coimbatore: Old # 66 New # 86, Lokamanya Street (West) Ground Floor R.S. Puram, Coimbatore , Tamil Nadu Cuttack: Near Indian Overseas Bank Cantonment Road Mata Math, Cuttack , Orissa Davenegere: 13, Ist Floor, Akkamahadevi Samaj Complex Church Road P.J.Extension, Devengere , Karnataka Dehradun: 204/121 Nari Shilp Mandir Marg Old Connaught Place, Dehradun , Uttaranchal Delhi: CAMS Collection Centre, Flat no.512, Narain Manzil, 23, Barakhamba Road, Connaught Place, New Delhi , New Delhi Deoghar: S S M Jalan Road Ground floor Opp. Hotel Ashoke Caster Town, Deoghar , Jharkhand Dhanbad: Urmila Towers Room No: 111(1st Floor) Bank More, Dhanbad , Jharkhand Durgapur: City Plaza Building, 3rd floor, City Centre, Durgapur , West Bengal Erode: 197, Seshaiyer Complex Agraharam Street, Erode , Tamil Nadu Faridhabad: B-49, Ist Floor Nehru Ground Behind Anupam Sweet House NIT, Faridhabad , Haryana Ghaziabad: 113/6 I Floor Navyug Market, Gazhiabad , Uttar Pradesh Goa: No.108, 1st Floor, Gurudutta Bldg Above Weekender M G Road, Panaji (Goa) , Goa Gondal: Parent CSC - Rajkot,A/177, Kailash Complex,Khedut Decor, Gondal , Gujarat Gorakhpur: Shop No. 3, Second Floor, The Mall Cross Road, A.D. Chowk Bank Road, Gorakhpur , Uttar Pradesh Guntur: Door No /1 BRODIPET Near Ravi Sankar Hotel, Guntur , Andhra Pradesh Gurgaon: SCO - 17, 3rd Floor, Sector-14, Gurgaon , Haryana Guwahati: A.K. Azad Road, Rehabari, Guwahati , Assam Gwalior: G-6, Global Apartment Phase-II,Opposite Income Tax Office, Kailash Vihar City Centre, Gwalior , Madhya Pradesh Hazaribag: Municipal Market Annanda Chowk, Hazaribagh , Jharkhand Hisar: 12, Opp. Bank of Baroda Red Square Market, Hisar , Haryana Hubli: No , 1st Floor, B Block, Kundagol Complex, Opp. Court, Club Road, 101, 1st Floor, Abbas Manzil, Opposite Khar Police Station, S. V. Road, Khar (W), Mumbai , Maharashtra Mumbai-Thane: ICICI Prudential Mutual Fund, Ground Floor, Mahavir Arcade,Ghantali Road, Naupada, Thane West, Thane , Maharashtra Mumbai-Vashi: ICICI Prudential AMC Ltd, Devavrata Co-op Premises, Plot No 83, Office No 26, Gr Floor, Sector 17, Vashi, Navi Mumbai , Maharashtra Nagpur: 1st Floor, Mona Enclave, WHC Road, Near Coffee House Square, Above Titan Eye Showroom, Dharampeth, Nagpur , Maharashtra Nashik: Shop No 1 Rajeev Enclave Near Old Muncipal Corporation, New Pandit Colony, Nashik , Maharashtra New Delhi: 12th Floor Narain Manzil,23 Barakhamba Road, New Delhi , New Delhi Noida: F-25, 26 & 27, First Floor,Savitri market, Sector-18, Noida , Uttar Pradesh Panjim: Sandeep Apts, Shop No. 5 & 6, Grond Floor, Next to Hotel Samrat, Dr. Dada Vaidya Road, Panaji , Goa Patna : 1st Floor, Kashi Place, Dak Bungalow Road, Patna , Bihar Pune: 1205 /4/6 Shivaji Nagar, Chimbalkar House, Opp Sambhaji Park, J M Road, Pune , Maharashtra Rajkot: Office no 201, 2nd Floor, Akshar X, Jagannath-3, Dr. Yagnik Road, Rajkot , Gujarat Siliguri : Ganapati Plaza, 2nd Floor, Sevoke Road, Siliguri , West Bengal Surat: HG 30, B Block, International Trade Center, Majura Gate, Surat , Gujarat Udaipur: Shukrana, 6 Durga Nursery Road, Near Sukhadia Memorial, Udaipur , Rajasthan Varanasi: D- 58/2, Unit No.52 & 53,Ist Floor, Kuber Complex,Rath Yatra Crossing, Varanasi , Uttar Pradesh. Other Cities: Additional official transaction acceptance points (CAMS Transaction Points) Hubli , Karnataka Hyderabad: 208, II Floor Jade Arcade Paradise Circle, Secunderabad , Andhra Pradesh Indore: 101, Shalimar Corporate Centre 8-B, South tukogunj, Opp.Greenpark, Indore , Madhya Pradesh Jabalpur: 975,Chouksey Chambers Near Gitanjali School 4th Bridge, Napier Town, Jabalpur , Madhya Pradesh Jaipur: R-7, Yudhisthir Marg, C-Scheme Behind Ashok Nagar Police Station, Jaipur , Rajasthan Jalandhar: 367/8, Central Town Opp. Gurudwara Diwan Asthan, Jalandhar , Punjab Jalgaon: Rustomji Infotech Services 70, Navipeth Opp. Old Bus Stand, Jalgaon , Maharashtra Jalna C.C. (Parent: Aurangabad): Shop No 6, Ground Floor, Anand Plaza Complex, Bharat Nagar, Shivaji Putla Road, Jalna , Maharashtra Jammu: JRDS Heights, Lane Opp. S&S Computers,Near RBI Building, Sector 14, Nanak Nagar, Jammu , Jammu & Kashmir Jamnagar: 217/218, Manek Centre P.N. Marg, Jamnagar , Gujarat Jamshedpur: Millennium Tower, R Road Room No:15 First Floor, Bistupur, Jamshedpur , Jharkhand Jhansi: Opp SBI Credit Branch Babu Lal Kharkana Compound Gwalior Road, Jhansi , Uttar Pradesh Jodhpur: 1/5, Nirmal Tower Ist Chopasani Road, Jodhpur , Rajasthan Junagadh: Circle Chowk, Near Choksi Bazar Kaman, Gujarat, Junagadh , Gujarat Kadapa: Bandi Subbaramaiah Complex, D.No:3/1718, Shop No: 8, Raja Reddy Street, Besides Bharathi Junior College, Kadapa , Andhra Pradesh Kakinada: No.33-1, 44 Sri Sathya Complex Main Road, Kakinada , Andhra Pradesh Kalyani: A - 1/50, Block - A, Dist Nadia, Kalyani , West Bengal Kannur: Room No.14/435 Casa Marina Shopping Centre Talap, Kannur , Kerala Kanpur: I Floor 106 to 108 CITY CENTRE Phase II 63/ 2, The Mall, Kanpur , Uttar Pradesh Karimnagar: HNo , Upstairs S B H Mangammathota, Karimnagar , Andhra Pradesh Karnal (Parent :Panipat TP): 7, Ist Floor, Opp Bata Showroom Kunjapura Road, Karnal , Haryana Karur: # 904, 1st Floor Jawahar Bazaar, Karur , Tamil Nadu Kestopur: AA 101, Prafulla Kanan Sreeparna Appartment Ground Floor Kolkata, Kestopur , West Bengal Kharagpur: 623/1 Malancha Main Road, PO Nimpura, Ward No - 19, Kharagpur , West Bengal Kolhapur: 2 B, 3rd Floor, Ayodhya Towers,Station Road, Kolhapur , Maharashtra Kolkata: Saket Building, 44 Park Street, 2nd Floor, Kolkata , West Bengal Kollam: Kochupilamoodu Junction Near VLC, Beach Road, Kollam , Kerala Kota: B-33 Kalyan Bhawan Triangle Part,Vallabh Nagar, Kota , Rajasthan Kottayam: Door No. IX / 1276 Amboorans Building Manorama Junction, Kottayam , Kerala Kumbakonam: Jailani Complex 47, Mutt Street, Kumbakonam , Tamil Nadu Kurnool: H.No.43/8, Upstairs Uppini Arcade, N R Peta, Kurnool , Andhra Pradesh Lucknow: Off # 4,1st Floor,Centre Court Building, 3/C, 5 - Park Road, Hazratganj, Lucknow , Uttar Pradesh Ludhiana: U/ GF, Prince Market, Green Field Near Traffic Lights, Sarabha Nagar Pulli Pakhowal Road,