Name of the Fund: Benchmark Mutual Fund
Asset Management Company: Benchmark Asset Management Company Pvt. Ltd.
KEY INFORMATION MEMORANDUM
Nifty Benchmark Exchange Traded Scheme (Nifty BeES)
Nifty Junior Benchmark Exchange Traded Scheme (Junior BeES)
Banking Index Benchmark Exchange Traded Scheme (Bank BeES)
PSU Bank Benchmark Exchange Traded Scheme (PSU Bank BeES)
Shariah Benchmark Exchange Traded Scheme (Shariah BeES)
(Open Ended Listed Index Schemes)
(Exchange Traded Funds)
Continuous Offer for Units of the Schemes at NAV based prices
This Key Information Memorandum (KIM) sets forth the information, which a prospective investor ought to
know before investing. For further details of the Schemes/Mutual Fund, due diligence certificate by the
AMC, Key Personnel, investors’ rights and services, risk factors, penalties and pending litigations, etc.
investors should, before investment, refer to the Scheme Information Document (SID) and Statement
of Additional Information (SAI) available free of cost at any of the Investor Service Centres or
distributors or from the website www.benchmarkfunds.com.
The Schemes 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.
Investment
Objective
Nifty BeES
The investment objective of the Scheme is to provide investment returns that, before
expenses, closely correspond to the total returns of the securities as represented by the
S&P CNX Nifty Index. However, the performance of Scheme may differ from that of the
underlying Index due to tracking error.
Junior BeES
The investment objective of the Scheme is to provide returns that, before expenses, closely
correspond to the returns of securities as represented by CNX Nifty Junior Index.
However, the performance of Scheme may differ from that of underlying Index due to
tracking error.
Bank BeES
The investment objective of the Scheme is to provide returns that, before expenses, closely
correspond to the total returns of the securities as represented by the CNX Bank Index.
However, the performance of Scheme may differ from that of the underlying Index due to
tracking error.
PSU Bank BeES
The investment objective of the Scheme is to provide returns that, before expenses, closely
correspond to the total returns of the securities as represented by the CNX PSU Bank
Index. However, the performance of Scheme may differ from that of the underlying Index
due to tracking error.
Shariah BeES
The investment objective of the Scheme is to provide returns that, before expenses, closely
correspond to the total returns of the securities as represented by the S&P CNX Nifty
1
Shariah Index by investing in securities which are constituents of S&P CNX Nifty Shariah
Index in the same proportion as in the Index. However, the performance of the Scheme
may differ from that of the underlying Index due to tracking error.
Asset Allocation
Pattern of the
Schemes
Nifty BeES
Types of Instruments
Normal Allocation
(% of Net Assets)
Upto 100%
Upto 10%
Securities covered by S&P CNX Nifty Index
Money Market instruments, convertible bonds & other
securities including cash at call but excluding subscription &
redemption Cash Flow
The above stated percentages are indicative and not absolute. The exposure of the Scheme
in derivative instruments shall be restricted to 50% of the net assets of the Scheme.
Junior BeES
Types of Instruments
Normal Allocation
(% of Net Assets)
90% - 100%
0% - 10%
Securities covered by CNX Nifty Junior Index
Money Market instruments, convertible bonds & other
securities including cash at call but excluding subscription &
redemption Cash Flow
Subscription Cash Flow is the subscription money in transit before deployment and
Redemption Cash Flow is the money kept aside for meeting redemptions.
The above stated percentages are indicative and not absolute.
Bank BeES
Types of Instruments
Securities covered by the CNX Bank Index
Money Market Instruments, G-Secs, Bonds, Debentures,
Preference Shares and cash at call
The above stated percentages are indicative and not absolute.
Normal Allocation
(% of Net Assets)
90% - 100%
0% - 10%
PSU Bank BeES
Types of Instruments
Normal Allocation
(% of Net Assets)
90% - 100%
0% - 10%
Securities covered by the CNX PSU Bank Index
Money Market Instruments, G-Secs, Bonds, Debentures and
cash at call
The above stated percentages are indicative and not absolute. The notional exposure of
Scheme in derivative instruments shall be restricted to 10% of the net assets of the
Scheme.
Shariah BeES
Types of Instruments
Securities covered by the S&P CNX Nifty Shariah Index
Cash
The above stated percentages are indicative and not absolute.
Risk Profile of
the Schemes
Normal Allocation
(% of Net Assets)
90% - 100%
0% - 10%
Mutual Fund units involve investment risks including the possible loss of principal. Please
read the SID carefully for details on risk factors before investment.
2
Plans
and
Options
Applicable NAV
for subscriptions
/ redemptions
Minimum
Application
Amount/
Number of Units
The Schemes are subjected to market risk, market trading risk, redemption risk, asset class
risk, passive investments risk, tracking error risk and risk relating to index fund as detailed
in the SID.
Nil
The Fund creates/redeems units of the Schemes in creation (minimum) unit size by
exchange of underlying securities (Portfolio Deposit) and Cash Component. The Fund
declares the Portfolio Deposit and Cash Component separately for each Scheme on its
website www.benchmarkfunds.com daily morning and the same would be applicable for
creating and redeeming units for that working day.
A.
Directly with the Fund
Name of the Scheme
Nifty BeES
Junior BeES
Bank BeES
PSU Bank BeES
Shariah BeES
Minimum Number of Units (Creation Units)
10,000 units and in multiples thereof
16,000 units and in multiples thereof
10,000 units and in multiples thereof
10,000 units and in multiples thereof
10,000 units and in multiples thereof
B.
On the Exchange
The units of the Schemes are listed on the Capital Market Segment of the National Stock
Exchange of India Ltd. (NSE). On NSE, the units of Schemes can be purchased/sold in
minimum lot of 1 unit and in multiples thereof.
Despatch of
Repurchase
(Redemption)
Request
Benchmark
Index
Within 10 working days of the receipt of redemption request at the official point of acceptance
of Benchmark Mutual Fund for the respective Schemes.
Dividend Policy
Name of the Scheme
Benchmark Index
Nifty BeES
S&P CNX Nifty Index
Junior BeES
CNX Nifty Junior Index
Bank BeES
CNX Bank Index
PSU Bank BeES
CNX PSU Bank Index
Shariah BeES
S&P CNX Nifty Shariah Index
The Trustee may, at its discretion declare dividend to the unit holders under the Schemes
subject to the availability of distributable surplus. Such dividend will be payable to the unit
holders whose names appear on the register of unit holders on the record date as fixed for
the Scheme. There is no assurance or guarantee to the unit holders as to the rate of
dividend distribution nor that the dividends will be paid regularly. If the Fund declares
dividend, the NAV will stand reduced by the amount of dividend and dividend distribution
tax (if applicable) paid. The AMC shall dispatch the dividend warrants within 30 days of
the date of declaration of dividend.
Name of the
Fund Manager
Mr. Vishal Jain - Nifty BeES, Bank BeES and Shariah BeES
Ms. Payal Kaipunjal - Junior BeES and PSU Bank BeES
Benchmark Trustee Company Pvt. Ltd.
Name of the
Trustee Company
Performance of
1. Nifty BeES
the Schemes till
(a) Compounded Annualized Returns
March 31, 2009
Period
Scheme Returns (%) Benchmark Returns (%)
Returns for the last 1 year
(35.34)
(36.19)
Returns for the last 3 years
(2.61)
(3.88)
Returns for the last 5 years
12.97
11.25
Returns since inception
17.64
15.92
3
Returns since inception are calculated from the date of allotment. Past performance may or
may not be sustained in future and should not be used as a basis for comparison with other
investments.
(b) Absolute Returns
Absolute Returns for last 5 Financial Years
70.00%
66.39%
64.56%
Nifty BeES
S&P CNX Nifty
60.00%
50.00%
40.00%
30.30%
30.60%
30.00%
Returns
20.00%
13.53%
11.87%
11.94%
10.00%
10.03%
0.00%
2004-05
2005-06
2006-07
2007-08
2008-09
-10.00%
-20.00%
-30.00%
-35.19%
-36.26%
-40.00%
-50.00%
Financial Year
2. Junior BeES
(a) Compounded Annualized Returns
Period
Scheme Returns (%) Benchmark Returns (%)
Returns for the last 1 year
(45.25)
(45.63)
Returns for the last 3 years
(11.97)
(12.21)
Returns for the last 5 years
5.50
5.03
Returns since inception
20.84
20.33
Returns since inception are calculated from the date of allotment. Past performance may or
may not be sustained in future and should not be used as a basis for comparison with other
investments.
(b) Absolute Returns
Absolute Returns for last 5 Financial Years
50.00%
48.05%
Junior BeES
47.65%
CNX Nifty Junior
40.00%
30.00%
24.42%
23.02%
20.61%
21.17%
20.00%
Returns
10.00%
5.73%
5.10%
0.00%
2004-05
2005-06
2006-07
2007-08
2008-09
-10.00%
-20.00%
-30.00%
-40.00%
-44.68%
-50.00%
-45.07%
Financial Year
3. Bank BeES
a) Compounded Annualized Returns
Period
Scheme Returns (%) Benchmark Returns (%)
Returns for the last 1 year
(36.90)
(37.89)
Returns for the last 3 years
(2.63)
(3.93)
Returns since inception
12.41
10.66
Returns since inception are calculated from the date of allotment. As the Scheme has not
completed 5 years, the returns of the Scheme for 5 years is not provided. Past performance
may or may not be sustained in future and should not be used as a basis for comparison
with other investments.
4
(b) Absolute Returns
Absolute Returns for last 5 Financial Years
50.00%
41.66%
Bank BeES
39.81%
40.00%
34.61%
29.78%
CNX Bank Nifty
34.18%
29.16%
30.00%
20.00%
13.87%
12.37%
R
eturns
10.00%
0.00%
2004-05
2005-06
2006-07
2007-08
2008-09
-10.00%
-20.00%
-30.00%
-40.00%
-36.39%
-37.45%
-50.00%
Financial Year
Returns for Financial Year 2004-05 are from 27-May-2004 to 31-Mar-2005 and are absolute
4. PSU Bank BeES
(a) Compounded Annualized Returns
Period
Scheme Returns (%) Benchmark Returns (%)
Returns for the last 1 year
(29.01)
(30.37)
Returns since inception
(29.68)
(30.34)
Returns since inception are calculated from the date of allotment. As the Scheme has not
completed 3 years, the returns of the Scheme for 3 and 5 years are not provided. Past
performance may or may not be sustained in future and should not be used as a basis for
comparison with other investments.
(b) Absolute Returns
Absolute Returns for last 2 Financial Years
10.00%
PSU BeES
CNX PSU Bank
5.00%
0.00%
2007-08
2008-09
R
etu
rns
-5.00%
-10.00%
-15.00%
-20.00%
-19.54%
-19.42%
-25.00%
-30.00%
-29.40%
-30.75%
-35.00%
Financial Year
Returns for Financial Year 2007-08 are from 31-Oct-2007 to 31-Mar-2008 and are absolute
5. Shariah BeES
This Scheme is a new Scheme and does not have any performance track record.
Expenses of the
Scheme
(i) Load
Structure
(ii) Recurring
expenses
Entry Load : Nil
Exit Load : Nil
However, in case there are no quotes on the NSE for five trading days consecutively, an
investor can redeem units of Nifty BeES, Junior BeES and Bank BeES in less than
creation unit size directly with the Fund with an exit load of 5% of NAV and of PSU Bank
BeES and Shariah BeES in less than creation unit size directly with the Fund with an exit
load of 3% of NAV.
Daily Average Net Nifty BeES Junior BeES Bank BeES PSU Bank
Assets
BeES
First Rs. 100 Crores
0.80%
1.00%
Next Rs. 200 Crores
0.70%
0.90%
1.00%
1.50%
Next Rs. 200 Crores
0.70%
0.80%
Over Rs. 500 Crores
0.65%
0.70%
Actual Expenses for the previous financial year (2008-2009)
(as % of daily average net assets) (Annualised)
1.
Nifty BeES
0.50%
2.
Junior BeES
1.00%
5
Shariah
BeES
1.50%
3.
Bank BeES
0.50%
4.
PSU Bank BeES
0.75%
5.
Shariah BeES*
Nil
*The Scheme was launched on March 18, 2009 and no expenses have been charged for
the period ended March 31, 2009.
Waiver of Load
for Direct
Applications
As per SEBI Regulations, no entry load shall be charged for existing/prospective investors
of the Schemes in case of direct applications which are received by the AMC i.e.
applications received through internet, submitted to AMC or collection centre/Investor
Service Centre that are not routed through any agent/distributor/broker. Further no entry
load would be charged for any additional purchases done directly by the investor under the
same folio.
If applications are not routed through agent/distributor/broker, investor should write the
word ‘DIRECT’ in the field provided for mentioning the code of the agent/distributor/
broker. If the field provided for mentioning the code of the agent/distributor/broker is left
blank, the application shall be processed as ‘DIRECT’ application.
Tax Treatment
for the
Unitholders
Daily Net Asset
Value (NAV)
Publication
For Investor
Grievances
please contact
Unit holders’
Information
In cases, where the application form/transaction slip already contains the agent/distributor/
broker code, investors can accordingly delete the code mentioned in the application
form/transaction slip and shall countersign the same to enable their application to be
treated as ‘DIRECT’.
Investors are advised to refer to the details in the Statement of Additional Information
(SAI) and also independently refer to their own tax advisor.
NAV will be declared on all business days and will be published in 2 newspapers. NAV
can also be viewed on our website www.benchmarkfunds.com and www.amfiindia.com.
Investors can also telephone us at 91-22-6651 2727 or Toll Free on 1800-22-5079.
Benchmark Mutual Fund
Karvy Computershare Pvt. Ltd.
405, Raheja Chambers
Karvy Plaza
Free Press Journal Marg
H. No. 8-2-596, Avenue 4
213, Nariman Point
Street No. 1, Banjara Hills
Mumbai - 400 021
Hyderabad - 500 034
Tel: (91 22) 6651 2727 Fax: (91 22) 2200 3412
Tel: 040-2331 2454 (Extn: 247)
E-Mail: webmaster@benchmarkfunds.com
Fax: 040-2342 0886
E-mail: customercare@karvy.com
Toll Free No.: 1800-22-5079
Account Statement
An account statement stating the number of units will be mailed within 10 business days
from date of receipt of the application.
Annual Financial Report
Scheme wise Annual Report or an abridged summary thereof shall be mailed to all the
Unit holders within four months from the date of closure of the relevant accounting year
i.e. 31st March each year. The annual report will be available for inspection at the Head
Office of the Fund and a copy shall be made available on specific request on payment of a
nominal fee, if any. The annual report of the Schemes shall also be placed on our website
www.benchmarkfunds.com.
Half Yearly Disclosures
Un-audited half-yearly financial results of the Schemes in format prescribed in Twelfth
Schedule of Regulations and Half yearly Schemes’ Portfolio as on March 31 and
September 30 will be published in one national English daily newspaper circulating in the
whole of India and in a newspaper published in the language of the region where the Head
Office of the Mutual Fund is situated. The half-yearly financial results will be placed on
our website www.benchmarkfunds.com and link will be provided on www.amfiindia.com.
Date: April 24, 2009
6
Application No.
COMMON APPLICATION FORM
ONGOING BASIS
Subscription: ■
Cash
■
Basket
Redemption: ■
Cash
■
Basket
Select scheme
■
(please tick (✓) in
the appropriate box) ■
■
■
■
Please use separate forms for more than one Scheme
1. FIRST APPLICANT’S PERSONAL DETAILS
Name of Sole/First Applicant (leave space between first/middle/last name)
Mr./Mrs./Ms./M/s.
Date of Birth
(D D
M M
Y
Y
Y
Y)
Mandatory - Please enclose a certified PAN card copy
PAN No.
Guardian (if Sole/1st Applicant is Minor) or Contact Person (in case of Institutional Investors)
Mr./Mrs./Ms./M/s.
PAN No.
Mandatory - Please enclose a certified PAN card copy
Address of Sole/First Applicant (Only P.O.Box Address is not sufficient)
City
State
Pin Code
Overseas Address (in case of NRIs/FIIs)(Only P.O.Box Address is not sufficient)
Communications
Office Tel.
Residence Tel.
Mobile
Fax
Email
2. JOINT APPLICANT’S DETAILS
Name of Second Applicant
Mr./Mrs./Ms./M/s.
PAN No.
Mandatory - Please enclose a certified PAN card copy
Name of Third Applicant
Mr./Mrs./Ms./M/s.
PAN No.
Mandatory - Please enclose a certified PAN card copy
3. MODE OF OPERATION (Please tick (✓)) refer instructions no. 3
■
■
Joint
■
Single
■
Anyone or Survivor
As per Resolution
4. OCCUPATION (of First / Sole Applicant) (Please tick (✓))
■ Service
■ Professional
■ Business
■ Housewife
■ Retired
■ Student
■ Politically exposed person
■ Others (please specify)_____________________________________________________________________________________________
5. STATUS (of First / Sole Applicant) (Please tick (✓))
■ Resident Individuals ■ Company ■ Body Corporate ■ Proprietor ■ FII ■ Trust ■ NRI ■ HUF ■ PIO
■ Minor through Guardian
■ Partnership Firm
■ Society
■ Bank
■ AOP/BOI ■ Others (please specify)_______________
ACKNOWLEDGEMENT SLIP (To be filled in by the Investor)
405, Raheja Chambers, Free Press Journal Marg,
Date:____________Application No: ______________
213, Nariman Point, Mumbai - 400021
Subscription: ■
Cash
■
Redemption: ■
Basket
Cash
■
Basket
Received from Mr./Ms./M/s./Mrs.
an application
for Subscription / Redemption of__________________________units of Nifty BeES / Junior BeES / Bank BeES / PSU Bank BeES / Shariah BeES
Please Note :
1) All Purchases are subject to realisation of cheques / demand drafts.
2) All Redemptions are subject to receiving the Repurchase Request Number (RRN).
1
6. OTHER DETAILS
Gross Annual Income Details Please tick (✓)
■ Upto Rs. 5,00,000 ■ Rs. 5,00,001 to Rs. 25,00,000 ■ Rs. 25,00,001 to Rs. 1,00,00,000 ■ Rs. 1,00,00,001 to Rs. 5,00,00,000 ■ Rs. 5,00,00,001 and above.
7. BANK ACCOUNT DETAILS
(Please note that as per SEBI Regulations it is mandatory for investors to provide their bank account details)
Name of the Bank
Branch
Account No.
Bank City
State
Account Type (Please tick(✓)) ■ Savings ■ Current ■ NRE ■ NRO ■ FCNR ■ Others (please specify)________________
8. DEMAT ACCOUNT DETAILS
NSDL
DP ID
CDSL
I N
Beneficiary Account No
(If the name of the applicant in this application is not identical with the Beneficiary Account details with the above mentioned DP, the application will be
treated as incomplete and is liable to be rejected.)
9. INVESTMENT DETAILS
No. of units
in words) _____________________________________________________________________
(Please include the number of units you wish to subscribe for. Please refer to Instruction No. 5)
In case of Basket Subscription, kindly fill the following details.
Cash Component per creation Unit (Rs.)
(in words)_________________________________________________
Total Cash Component (Rs.)
(in words)_________________________________________________
10. PAYMENT DETAILS (Refer to instruction no. 6)
Cheque/DD No.
Cheque/DD Date
Amount in figures (Rs.)
Drawn on
Bank
Branch
Amount in words (Rs.)
11. REDEMPTION DETAILS (Refer to instruction no. 10)
No. of units being redeemed
for the above selected Scheme
(Please use separate forms if redemption request is made for redeeming units for more than one Scheme at a time)
12. DECLARATIONS & SIGNATURE/S
If yes,
■ Repatriation basis
■ Non-repatriation basis
First/Sole
Applicant/
Guardian
SIGNATURE/S
I/We have read and understood the contents of the Scheme Information Document of the Scheme. I/We hereby apply to the Trustee
of Benchmark Mutual Fund for the allotment of Units of the Scheme, as indicated in this form and agree to abide by the terms,
conditions, rules and regulations of the Scheme.
I/We have not received or been induced by any rebate or gifts, directly or indirectly in making this investment.
I/We hereby declare that, I/we am/ are authorised to make this investment and that the amount invested in the Scheme is derived
out of legitimate sources only and is not involved and is not designed for the purpose of any contravation or evasion of any acts,
rules, regulations, notifications or directions issued by any regulatory authority in Inda. I/We declare that the information given in
this application form is correct, complete and truly stated.
Applicable to NRIs only:
I/We confirm that I am/we are Non-Resident of Indian Nationality/Origin and I/we hereby confirm that the funds for subscription
have been remitted from abroad through approved banking channels or from funds in my/our Non-Resident External/Ordinary
Account/FCNR Account.
I/We hereby undertake to pay the required money towards subscription of the units of the Scheme made through this application
form within one day of making such application or within such time as instructed by Benchmark Mutual Fund
Please (✓ )
■ Yes ■ No
Second
Applicant
Third
Applicant
Date
2
INSTRUCTIONS
establish identity. It may re-verify identity and obtain any
missing or additional informational for this purpose. If the
payment for Purchase of Units are made by a third party (e.g.
a power of Attorney Holder, a Financing agency, a relative,
etc.), the Unit Holder may be required to give such details of
such transaction so as to satisfy the AMC of the source and / or
consideration underlying the transaction.
1. General
The Application form should be completed in ENGLISH in
BLOCK LETTERS only. Please tick ( ✓ ) in the appropriate box
( ■ ) where boxes have been provided. Please refer to the Scheme
Information Document and Key Information Memorandum
carefully before filling the Application Form. 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 the payment.
f. Address must be given in full (P.O. Box Address alone is not
sufficient). In case of NRIs / FIIs, "Overseas Address" should
also be provided.
g. In case the first/sole applicant is minor, date of birth of minor
should be provided. The name of the Guardian who will sign
on behalf of the minor should be filled in the space provided.
For Guardian’s PAN details, kindly refer point no 2e above.
Important :- All applications are subject to detailed scrutiny and
verification. Application which are not complete in all respect are
liable for rejection either at the collection centre level or
subsequently after detailed scrutiny at the office of the Fund /
Registrar.
h. Indicate the status of the sole/1st Applicant at the time of
investment. Any change in the status during the period of
holding units should be given to assist in correct tax
treatment of income arising from such holding.
2. First Applicant’s Personal Details
a. Please write the title (salutation) in which you would like to be
addressed - such as Mr., Ms., Mrs., Dr., Prof. Capt. or any other
3. Joint Applicant’s Details and Mode of Operation
b. Application for Individuals: Please write your name in the
sequence of First Name, Middle Name and Last Name. Please
do not abbreviate any name. Preferably write your name
exactly as it appears in the Bank Account (as provided in the
Bank Account details)
The title (salutation), name and PAN of joint applicant(s) should be
provided. Kindly refer point no. 2 above.
The mode of holding for operating folio should be indicated.
“Single” will entitle only the 1st holder to operate the account to
the exclusion of the joint holders. “Anyone or survivor” will
entitle anyone of the joint holders to operate the account and
“Jointly” will allow the operation of the account if all the holders
sign the instruction.
c. Application for Non-Individuals: Companies, Trusts,
Partnership Firms, Societies or any other association should
write the name exactly as it appears in its incorporation
document and in the Bank Account (as provided in the Bank
Account details). Sole proprietorship concerns should apply in
the name of the sole proprietor.
4. Bank Account Details
Applicants should provide the name of the bank, branch, account
type and account number of the Sole / First Applicant. Please note
that as per SEBI Guidelines, it is mandatory for investors to
mention their bank account details in the Application Form.
Applications without this information will be deemed to be
incomplete and are liable to be rejected.
In case of an application under a Power of Attorney or by a
limited company or body corporate or eligible institution or
registered society or trust or partnership etc. the original Power of
Attorney or a certified true copy duly notarized or the relevant
resolution or authority to make the applications as the case may
be, along with a certified copy of 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 designated collection centers along with the Application
Form. The officials should sign the application under their official
designation and furnish the list of authorised signatories. In case
of a Trust / Fund, it shall submit a certified true copy of the
resolution from Trustee(s) authorising such purchases. All
communications and payments shall be made to the First
Applicants or the Karta in case of HUF.
5. Minimum Application Size for Subscription and Redemption
Application should be for a minimum of 1 creation unit and in
multiples of creation unit. The unit multiple sizes are as follows :
d. If you have an e-mail ID, please indicate it as it will help us to
resolve any queries immediately.
Nifty BeES
:
10,000 units
Junior BeES
:
16,000 units
Bank BeES
:
10,000 units
PSU Bank BeES
:
10,000 units
Shariah BeES
:
10,000 units
6. Payment Details
e. PAN Details & KYC
The Asset Management Company / Fund will not bear demand
draft (DD) charges. Therefore, investors should not deduct the
demand draft charges.
Permanent Account Number (PAN): It is mandatory for all
investors to mention their PAN and submit a certified copy of the
PAN card irrespective of the amount of investment, while making
an application for subscription of units. In case of joint applicants,
PAN details of all holders should be submitted. If the Applicant is
a minor, PAN details of the Guardian shall be provided.
Applications accompanied by outstation cheques, stock invest or
cash are liable to be rejected.
In case the subscription amount is paid by a demand draft, the
applicant / investor shall provide a certificate from his bankers
to the effect that the applicant / investor has a bank account with
the bank and the amount is drawn for the draft from such bank
account.
Know your customer (KYC) : KYC is mandatory under the
Prevention of Money Laundering Act, 2002 for all applications
for subscription of Rs 50,000 and above. This will be
applicable for investments from individual investors including
joint holding / institutional investors / other non – institutional
investors / investments through power of attorney
holders/investments of minor through guardian. The AMC may
seek information or obtain and retain documentation used to
a
Basket Subscription
For Cash component all cheques, bank drafts and pay orders
should be drawn in favour of "Benchmark Mutual Fund –
Scheme Name – Cash Component A/C" and marked "Account
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Payee only". For e.g. In case of Nifty BeES, the cheque/pay
order will favour "Benchmark Mutual Fund – Nifty BeES –
Cash Component A/C"
their subscriptions either by inward remittance through normal
banking channels or out of funds held in Foreign Current Account
or Non-Resident Rupee Account maintained by the FII with a
designated branch of an authorised dealer.
b Cash Subscription
Non-Repatriation Basis
The applicant will have to calculate the amount payable on
application based on latest available NAV of the Scheme. In
addition to NAV, the applicant should also give due
consideration to costs of purchasing the basket of securities,
market movement from the time of application to actual
purchase of securities by the Fund etc. Any excess amount
paid on application will be refunded to the applicant
immediately on allotment. All cheques/bank drafts/pay
orders should be drawn in favour of "BMF – Scheme Name
– Cash Subscription/ redemption A/C". For e.g. in case of
Nifty BeES, the cheque/bank draft / pay order should favour
"BMF – Nifty BeES – Cash Subscription / Redemption
A/C." The applicable basket of securities will be purchased
within 3 working days of the subscription amount actually
being credited to the bank account of the Fund. All actual
costs incurred by the Fund in connection with the purchase
will be borne by the investor.
c
In the case of NRIs, payments may be made either by inward
remittance through normal banking channels or out of funds held
in his / her NRE / FCNR / Non-Resident Ordinary Rupee Account
(NRO).
10. Redemption of units
a. Cash Redemption
The units can be redeemed only in electronic form (demat
mode) and the applicant will have to submit a repurchase form
to the respective Depository Participant. The repurchase form
will be available with the Depository Participant (Annexure
HA of NSDL Bye Laws and Business Rules.)
The applicable basket of securities will be sold within 3
working days of the units actually being submitted for
repurchase. All actual costs incurred by the Fund/AMC in
connection with the sale of basket of securities will be borne by
the investor. The redemption proceeds will be paid out within
10 working days of the redemption date.
Portfolio Deposit
The "Portfolio Deposit" will only be accepted in electronic
form
(demat
mode)
and
the
stocks
will
have to be credited to the custodian account of Benchmark
Mutual Fund. The details of the "Portfolio Deposit" to be
submitted is available at http://www.benchmarkfunds.com.
The demat account details of Benchmark Mutual Fund are as
follows :
Scheme
Nifty BeES
Junior BeES
Bank BeES
PSU Bank BeES
DP Name
Citi Bank NA
Citi Bank NA
Citi Bank NA Citi Bank NA
Citi Bank NA
DP ID
IN300054
IN300054
IN300054
IN300054
IN300054
Client ID
10012749
10012782
10012757
10023049
10031123
b. Basket Redemption
Investor may take delivery of underlying equity shares against
units redeemed. On redeeming the units the underlying shares
and the cash component will only be credited to the respective
depository and the bank account mentioned in the redemption
form. These equity shares will not be given in the physical
format and nor will be transferred in any other entities
depository account. Please note that the underlying shares will
be transferred only to the depository account from which the
units have been extinguished / repurchased.
Shariah BeES
11. Cancellation
Please note that application once submitted cannot be cancelled
under any circumstances. Once an application for subscription is
submitted, the applicant will have to submit a redemption request
for redeeming the units.
7. Allotment of Units
Units will be allotted to the applicants in multiples of the creation
unit. The allotment advice, including refunds, if any, will be mailed
to the investor within 5 working days of the application money
being credited to the account.
No receipt will be issued for the application money. The
acknowledgment slip will be stamped and returned to the
applicant.
The units will be issued in dematerialized form and credited to
the demat account of the applicant stated in the form within 5
working days of the application money being credited to the bank
account, in case of Cash Subscription or the "Portfolio Deposit"
being credited to the demat account of Benchmark Mutual Fund
with the custodian Citi Bank N.A.
12. Declaration and Signatures
(i) All signatures should be in English or in any Indian language.
Thumb impressions should be from the left hand for males and
the right hand for females and in all cases must be attested by
a Magistrate, Notary Public or Special Executive Magistrate
under his / her official seal. In case of HUF, the Karta will sign
on behalf of the HUF. Applications by minors should be signed
by their guardians.
8. Collateral on Short Delivery (Basket Subscription)
In case of short delivery of stocks on the settlement date requested,
the investor will have to submit collateral till the delivery of stocks
is pending. Collateral will be accepted only in the form of
cheques/DDs. Collateral will be 130% of market value (closing
price on NSE on the date prior to the settlement date requested) and
subject to maximum of 20% of basket value. However, this may
change from time to time at discretion of the trustees.
(ii) Authorised officials should sign the form under their official
designation and company seal. If you are investing through
your constituted attorney, please ensure that the POA document
is signed by you and your constituted Attorney. The signature
in the Application form, then, needs to clearly indicate that the
signature is on your behalf by the Constituted Attorney.
9. Applications By NRIs/FIIs
13. Submission of Applications
Repatriation Basis
Completely filled application form along with the pay order may
be submitted at Benchmark Asset Management Company Pvt. Ltd.,
405, Raheja Chambers, Free Press Journal Marg, 213, Nariman
Point, Mumbai - 400 021 Tel. No. 022 6651 2727, Fax No. 022
2200 3412, on any business day.
In the case of NRIs, payment may be made either by inward
remittance through normal banking channels or out of funds held
in his / its Non - Resident (External) Rupee Account (NRE) /
Foreign Currency (Non-Resident) Account (FCNR). FIIs shall pay
4