1 Corporate Office: 2nd Floor, Parinee Crescenzo, SAHARA MUTUAL FUND Bandra-Kurla Complex, Bandra (East), Mumbai – 400051 India. Key Information Memorandum and Common Application Form CONTINUOUS OFFER OF UNITS 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 scheme/Mutual Fund, due diligence certificate by the AMC, key personnel, investors’ rights & services, risk factors, penalties & pending litigations, associate transactions etc. investors should, before investment, refer to the Scheme Information Document available free of cost at any of the Investor Service Centres or distributors or from the website www.saharamutual.com. 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. Sponsor : Sahara India Financial Corporation Limited, Sahara India Bhawan, 1, Kapoorthala Complex, Lucknow - 226 024, Uttar Pradesh, India. Investment Manager : Sahara Asset Management Company Private Limited, Registered & Corporate Office : 2nd Floor, Parinee Crescenzo, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India. Trustees : Board of Trustees

INVESTMENT OBJECTIVE

• Sahara Liquid Fund: The investment objective is to create a highly liquid portfolio of • Sahara Star Value Fund : The investment objective is to provide long term capital good quality Debt as well as Money Market Instruments with a view to provide high appreciation by investing predominantly in equity / equity related instruments of liquidity and reasonable returns to the Unit holders, while at all times emphasizing the select companies based on value parameters. importance of capital preservation. • Sahara R.E.A.L Fund : The investment objective would be to provide long term • Sahara Income Fund: The primary objective of the scheme is to generate income capital gains by investing predominantly in equity / equity related instrument of by investing in a portfolio of corporate and sovereign debt instruments and at the companies in the Retailing, Entertainment & Media, Auto & auto ancillaries and same time provide continuous liquidity along with reasonable safety. Logistics sector

• Sahara Gilt Fund: The primary investment objective of the Scheme is to generate The schemes do not guarantee any returns and there is no assurance that the resonable returns by investing in sovereign securities issued by the Central investment objectives of the schemes will be achieved. Government and/or State Government and/or any security unconditionally guaranteed Investment Strategy: Equity by the Government of India. The investment strategy of our schemes would be in line with the stated investment objectives • Sahara Classic Fund: The investment objective of the scheme is to generate of the respective schemes. The strategy that would be adopted for each scheme would returns by investing mainly in debt and debt related instruments including money among other things lay importance to asset allocation strategies aimed at achieving effective market instruments and also to invest a portion of the fund in equity and equity related diversification, avoid style drift, reduce operating expenses while maintaining the overall instruments to seek capital appreciation. objective of optimizing returns with minimized risks. The above shall be observed keeping in mind overall investor interest • Sahara Interval Fund Quarterly Plan Series I : The investment objective is to generate returns with low volatility through a portfolio of debt and money market Investment Strategy: Debt instruments with a provision to offer liquidity at periodic intervals. The investment strategy is built around the stated investment objectives of each scheme, • Sahara Short Term Bond Fund: The investment objective is to generate optimal the applicable investment restrictions and to include dynamic changes in the macro factors. returns consistent with moderate levels of risk and liquidity by investing in debt The review is done on a regular basis so as to adjust it to the changing factors. High rated securities and money market securities. instruments having adequate liquidity and proper diversification are important parameters to • Sahara Tax Gain Fund: The basic objective of Sahara Tax Gain Fund is to provide manage the portfolios. Comparison with benchmark, analysis of investors profile and regular immediate tax relief and long term growth of capital to investors. review of portfolio returns forms an integral part of the investment strategy.

• Sahara Growth Fund: The investment objective of the Scheme is to achieve capital Risk Mitigation factors: appreciation by investing in equity and equity-related instruments. Risk management is a key feature in fund management and schemes of Sahara Mutual • Sahara Mid-Cap Fund: An open-ended Growth Fund with an objective to achieve Fund adhere to various internal and external guidelines (SEBI) stipulated under the risk long term capital growth at medium level of risks by investing primarily in mid–cap management aspect of fund management. Risk Mitigation involves minimizing the risks while stocks. the schemes earn optimal returns for investors. The various risk mitigation measure adopted by our schemes include strict adhering to restrictions on investment in a specific security • Sahara Wealth Plus Fund: The primary objective of the scheme would be to invest in following prudent norms on diversification, setting restrictions on investing in unlisted equity equity and equity related instruments of companies that would be wealth builders in the shares, avoiding undue concentration of exposure. In the case of Debt funds, besides the long term. above, the endeavor is always to invest in high rated debt instruments, so as to minimize the • Sahara Infrastructure Fund: The investment objective would be to provide income default risk. The focus is to have high liquidity in the portfolio, consistent with the objective of distribution and / or medium to long term capital gains by investing in equity / equity each fund, so as to reduce / eliminate the cost of illiquidity. related instrument of companies mainly in the infrastructure sector. Plans & Options - ALSO SEE PAGE 22 & 23 FOR DIRECT OPTIONS • Sahara Power & Natural Resources Fund: The investment objective is to generate 1. Sahara Liquid Fund: a) Fixed Pricing • Dividend RI - Daily/Weekly/Monthly • Growth long term capital appreciation through investment in equities and equity related securities b) Variable Pricing • Dividend RI - Daily/Weekly/Monthly • Growth of companies engaged in the business of generation, transmission, distribution of Power or in those companies that are engaged directly or indirectly in any activity associated 2. Sahara Income Fund, Sahara Gilt Fund, Sahara Growth Fund, Sahara Classic Fund, in the power sector or principally engaged in discovery, development, production, Sahara Power & Natural Resources Fund, Sahara Banking & Financial Services processing or distribution of natural resources. Fund, Sahara Tax Gain Fund, Sahara Super 20 Fund. Sahara Star Value Fund, Sahara R.E.A. L Fund, Sahara Interval Fund Quarterly Plan Series I : a) Dividend Payout • Sahara Banking & Financial Services Fund: The investment objective would be & Reinvestment b) Growth to provide long term capital appreciation through investment in equities and equities related securities of companies whose business comprise of Banking / Financial 3. Sahara Mid-Cap Fund : a) Dividend Payout & Reinvestment b) Growth c) Growth Auto services, either whole or in part. earnings Payout d) Bonus 4. Sahara Wealth Plus Fund and Sahara Infrastructure Fund : a) Fixed Pricing Option • Sahara Super 20 Fund: The investment objective would be to provide long term 1) Dividend : Payout / Dividend Reinvestment 2) Growth Option, b) Variable Pricing capital appreciation by investing in predominantly equity and equity related securities Option 1) Dividend : Payout / Dividend Reinvestment 2) Growth Option. of around 20 companies selected out of the top 100 largest market capitalization companies, at the point of investment. 5. Sahara Short Term Bond Fund: a) Dividend Reinvestment Option b) Growth Option

2 ASSET ALLOCATION PATTERN OF THE SCHEME DESPATCH OF REPURCHASE (REDEMPTION) REQUEST Scheme Types of Instruments % of Net As per SEBI regulations the redemptions cheques have to be dispatched within 10 working days of the receipt of the redemption request at the authorised centre of the Sahara Mutual Assets* Fund. Sahara Liquid Fund • Debt instruments (Incl. Sec. Debt) 0-75% BENCHMARK INDEX • Money Market Instruments 25-100% Schemes Benchmark Sahara Income Fund • Debt instruments (Incl. Sec. Debt) 0-100% Sahara Liquid Fund CRISIL Liquid Fund Index • Money Market Instruments 0-100% Sahara Income Fund CRISIL Composite Bond Fund Index Sahara Gilt Fund • Central Govt. Securities Sahara Gilt Fund I-Sec Composite Index & T Bill / State Govt. Securities* 0-100% Sahara Classic Fund CRISIL MIP Blended Index • CBLO/ Call Market/ Reverse Repo Sahara Interval Fund CRISIL Liquid Fund Index or similar instruments* 0-100% Sahara Short Term Bond Fund CRISIL Liquid Fund Index Sahara Tax Gain Fund BSE 200 Sahara Classic Fund • Debt and Money Market Instruments 70-100% Sahara Growth Fund / Infrastructure Fund S & P CNX Nifty • Equity and Equity related instruments 0-30% Sahara Mid-Cap Fund / Wealth Plus Fund CNX Midcap / S & P CNX 500 Sahara Power & Natural Resources Fund CNX Nifty Sahara Interval Fund • Money Market Instruments 0-100% Sahara Banking & Financial Services Fund CNX Bank Index Quarterly Plan • Government Securities issued by 0-100% Sahara Super 20 Fund CNX Nifty Series I Central &/or State Government & other Sahara Star Value Fund BSE 200 fixed income / debt securities including Sahara R.E.A.L Fund S & P CNX NIFTY but not limited to corporate bonds and securitized debt. NAME OF FUND MANAGER Sahara Short Term • Debt Instruments including Government 0-100% Schemes Name Bond Fund Securities, Corporate Debt, Other debt Sahara Liquid Fund, Sahara Income Fund, Sahara Gilt Fund, instruments and Money Market Sahara Short Term Bond Fund, Sahara Interval Fund Ashwini Kumar Instruments with average maturity less Sahara Growth Fund, Sahara Mid Cap Fund, A. N. Sridhar than equal to 12 months Sahara Wealth Plus Fund, Sahara Infrastructure Fund, Sahara Tax Gain Fund, Sahara Power & Natural • Debt Instruments including Government 0-50% Resources Fund, Sahara Banking & Financial Securities, Corporate Debt and other Services Fund, Sahara Super 20 Fund, debt Instruments with average maturity Sahara Star Value Fund, Sahara R.E.A. L Fund greater than 12 months Sahara Classic Fund Ashwini Kumar Sahara Tax Gain Fund • Equity and Equity related instruments 85-100% A. N. Sridhar • Debt and Money Market Instruments 0-15% MINIMUM APPLICATION AMOUNT / NUMBER OF UNITS Sahara Growth Fund • Equity and Equity related instruments 80-100% Schemes Minimum Application Amount (`) Repurchase (`) • Debt and Money Market Instruments 0-20% Sahara Liquid Fund 10000/- & additional amt. of 5000/- & Multiples of 1000/- multiples of ` 1/- Sahara Mid Cap Fund • Equity and Equity related instruments 65-100% Sahara Income Fund 3000/- & additional amt. of 1000/- & Multiples of ` 1/- • Debt and Money Market Instruments 0-35% multiples of ` 1/- Sahara Wealth Plus Fund • Equity and Equity related instruments 70-100% Sahara Gilt Fund 5000/- & additional amt. of 1000/- & Multiples of ` 1/- • Debt and Money Market Instruments 0-30% multiples of ` 1/- (Including Securitised Debt) Sahara Classic Fund 1000/- under Growth Opt. and 5000/- Multiples of ` 1 / - under Dividend Opt. and Sahara Infrastructure Fund • Equity and Equity related instruments 70-100% additional amount of 1000/- • Debt and Money Market Instruments 0-30% Sahara Interval Fund `5000/- and in multiples of `1000/- (Including Securitised Debt) 0-20% `1/- thereafter. ` ` ` Sahara Power & Natural Sahara Short Term 5000/- and in multiples of 1/- 5000/- Bond Fund thereafter Resources Fund • Equity and Equity related instruments 65-100% Sahara Tax Gain Fund 500/- & additional amount in • Debt and Money Market Instruments 0-35% multiples of 500/- Multiples of ` 1/- (Including Securitized Debt) Sahara Growth Fund 3000/- & additional amt. of 500/- & Multiples of ` 1/- Sahara Banking & multiples of ` 1/- Financial Services Fund • Equity and Equity related instruments 75-100% Sahara Mid-Cap Fund 1000/- & additional amount of 500/- & Minimum of 1000/- • Debt and Money Market Instruments 0-25% multiples of ` 1/- (Including Securitized Debt) Sahara Wealth Plus 1000/- & additional amount of 500/- & Multiples of ` 1/- Fund multiples of ` 1/- Sahara Super 20 Fund • Equity and Equity related Instruments 65-100% Sahara Infrastructure 1000/- under Growth Opt. and 5000/- ` 500/- & in • Debt and Money Market Instruments 0-35% Fund under Dividend Opt. and additional multiples of ` 1/- (Including Securitized Debt) amount of 500/- and in multiples of `1/- Sahara Star Value Fund • Equity and Equity related Instruments 65-100% Sahara Power & `5000/- and in multiples of `1/- `1000/- • Debt and Money Market Instruments 0-35% Natural Resources Fund thereafter ` ` ` (Including Securitized Debt) Sahara Banking & 5000/- and in multiples of 1/- 1000/- Financial Services Fund thereafter Sahara R.E.A.L Fund • Equity and equity related instruments 65-100% Sahara Super 20 Fund `5000/- and in multiples of `1000/- • Debt & Money Market Instruments 0-35% `1/- thereafter. Rated securitized debt 0-20% Sahara Star Value Fund `5000/- and in multiples of `1000/- (Including Securitized Debt) `1/- thereafter. ` ` ` The normal asset allocation shown above is indicative and may be altered Sahara R.E.A.L Fund 5000/- and in multiples of 1/- 1000/- & in from time to time on defensive considerations. thereafter. multiples of `1/-

3 Performance of schemes as on 30/09/2012 CAGR ` 10,000 CAGR ABSOLUTE RETURNS % ` 10,000 Absolute Returns % RETURNS (%) RETURNS AUM 30.09.2011 30.09.2010 30.09.2009 30.09.2011 30.09.2010 30.09.2009 Folios Scheme Since Since ` In Lakhs to to to to to to / Duration Inception Inception 30.09.2012 30.09.2011 30.09.2010 30.09.2012 30.09.2011 30.09.2010 B & FS 32.14 28745.33 17.48 (22.59) 47.44 11748.32 7741.06 14744.44 Bank Nifty 16.72 17966.62 21.00 (23.43) 40.33 12100.17 7656.50 14032.98 5703 2106.63 Sensex 8.45 13598.12 14.03 (18.01) 17.18 11403.31 8198.55 11717.94

P & NR 3.61 11645.20 1.79 (22.17) 19.59 10178.84 7782.51 11959.32 Nifty 4.86 12257.25 15.38 (18.02) 18.61 11537.55 8197.83 11860.76 1859 315.00 Sensex 4.25 11953.15 14.03 (18.01) 17.18 11403.31 8198.55 11717.94

Tax Gain 24.88 313550.40 14.87 (15.57) 27.38 11487.11 8443.15 12738.05 BSE 200 13.30 69327.93 13.77 (19.85) 20.79 11377.08 8015.39 12078.96 6768 1234.06 Sensex 11.59 54749.59 14.03 (18.01) 17.18 11403.31 8198.55 11717.94

Growth F 23.55 84555.70 15.19 (16.48) 14.80 11519.49 8351.95 11479.83 CNX Nifty 18.70 56434.79 15.38 (18.02) 18.61 11537.55 8197.83 11860.76 2426 1092.47 Sensex 19.22 58979.51 14.03 (18.01) 17.18 11403.31 8198.55 11717.94

W Plus-V 12.43 22928.00 13.70 (14.42) 31.16 11370.31 8557.97 13115.98 W Plus-F 11.59 21752.50 12.75 (15.13) 30.07 11274.81 8487.01 13006.74 6567 1120.35 CNX 500 11.05 21013.02 13.22 (19.22) 19.58 11322.16 8077.62 11958.17 Sensex 13.03 23822.22 14.03 (18.01) 17.18 11403.31 8198.55 11717.94

Midcap 15.65 30868.10 9.09 (16.35) 35.38 10908.96 8364.50 13538.13 CNX Midcap 13.27 26269.49 10.52 (22.59) 36.51 11052.37 7740.95 13650.89 5771 1091.21 Sensex 14.42 28416.81 14.03 (18.01) 17.18 11403.31 8198.55 11717.94

INFRA - V 6.19 14773.90 5.32 (23.73) 7.24 10532.10 7627.08 10723.96 INFRA - F 5.39 14064.40 4.44 (24.37) 6.41 10443.68 7563.29 10640.50 4814 663.21 Nifty 7.93 16420.41 15.38 (18.02) 18.61 11537.55 8197.83 11860.76 Sensex 7.73 16224.62 14.03 (18.01) 17.18 11403.31 8198.55 11717.94

Star Value 5.88 11902.60 10.62 (19.38) 26.24 11062.41 8062.45 12624.11 BSE 200 5.10 11636.52 13.77 (19.85) 20.79 11377.08 8015.39 12078.96 635 148.48 Sensex 4.91 11571.80 14.03 (18.01) 17.18 11403.31 8198.55 11717.94

Super 20 6.01 12032.10 11.97 (12.01) 10.26 11196.71 8799.12 11026.37 Nifty 6.75 12301.01 15.38 (18.02) 18.61 11537.55 8197.83 11860.76 691 112.05 Sensex 5.85 11973.43 14.03 (18.01) 17.18 11403.31 8198.55 11717.94

R.E.A.L (4.38) 8049.00 9.12 (23.49) 27.15 10911.53 7650.96 12714.66 NIFTY 0.02 10009.04 15.38 (18.02) 18.61 11537.55 8197.83 11860.76 2918 502.33 Sensex (0.40) 9809.18 14.03 (18.01) 17.18 11403.31 8198.55 11717.94

Classic Fund 9.83 15483.09 9.32 8.39 4.97 10932.15 10839.34 10496.88 83 23.90 MIP Blended Index 6.30 13294.01 10.38 2.21 7.68 11038.41 10221.14 10768.38 Crisil 10 yr Gilt Index 5.54 12859.34 8.03 3.20 3.95 10802.80 10319.80 10395.00

Income Fund 7.49 21517.59 9.37 8.91 4.79 10936.85 10891.07 10478.67 Crisil Composite Bond 336 1959.69 NA* NA* 9.53 5.58 5.47 10952.73 10557.95 10546.65 Fund Index Crisil 10 yr Gilt Index 6.16 18850.83 8.03 3.20 3.95 10802.80 10319.80 10395.00

Gilt Fund 6.37 19246.89 8.08 6.56 3.51 10808.49 10656.17 10350.52 26 5.66 I Sec Composite Gilt Index NA* NA* 10.07 6.30 5.65 11007.12 10629.63 10564.75 Crisil 10 yr Gilt Index 6.16 18850.83 8.03 3.20 3.95 10802.80 10319.79 10395.00

Sahara Interval Fund 7.92 13553.40 9.21 8.26 4.97 10921.27 10825.66 10497.03 75 24.83 Liquidfex 6.81 13006.25 8.67 7.76 4.04 10867.30 10776.39 10403.92 I year t bill 5.79 12515.18 8.14 5.38 2.42 10813.60 10538.37 10241.97

Short Term Bond Fund 9.10 13522.01 9.41 13.32 5.27 10941.37 11331.72 10526.51 467 786.80 Liquiflex 6.35 12378.16 8.67 7.76 4.04 10867.30 10776.39 10403.92 Crisil 10 yr Gilt Index 4.04 11471.25 8.03 3.20 3.95 10802.80 10319.79 10395.00

CAGR Returns (%) ` 10,000 CAGR Returns ABSOLUTE RETURNS % ` 10,000 Absolute Returns 29.09.2011 30.09.2009 29.09.2011 30.09.2010 30.09.2009 Since 30.09.2010 Scheme / Duration 15 days 15 days Since Inception to to to to to Inception to 30.09.2011 28.09.2012 30.09.2010 28.09.2012 30.09.2011 30.09.2010 Liquid Fund - VP 8.02 7.69 10032.94 16706.44 9.51 8.64 4.97 10951.17 10864.15 10496.87 Liquiflex 7.508 NA* 10030.85 NA* 8.67 7.76 4.04 10867.30 10776.39 10403.92 1 year t bill 7.96 5.49 10032.71 14481.23 8.14 5.38 2.42 10813.60 10538.37 10241.97

Liquid Fund - FP 7.91 6.91 10032.50 20328.84 9.50 8.59 4.93 10950.12 10859.25 10493.40 Liquiflex 7.508 NA* 10030.85 NA* 8.67 7.76 4.04 10867.30 10776.39 10403.92 1 year t bill 7.96 5.37 10032.71 17430.64 8.14 5.38 2.42 10813.60 10538.37 10241.97

Folios : 384 AUM (` In Lakhs): 18772.66

4 Absolute Returns of the Schemes for each financial year

5 FUND

6 EXPENSES OF THE SCHEME Sahara Tax Gain Fund / Sahara Growth Fund / Sahara Mid-Cap Fund / Sahara Wealth Plus Fund / Sahara Infrastructure Fund / Sahara Power & Natural Resources Fund / Sahara Liquid Fund Initial Offer Period Continuous Offer Sahara Banking and Financial Services Fund / Sahara Super 20 Fund / Sahara Star (i) Load Structure The initial issue expenses was borne Value Fund / Sahara R.E.A.L Fund by the AMC. Exit Load* Investment Under (SIP / STP) There was no Entry / Exit Load 1. Load Structure 1% - If redeemed on Exit Load: 1% if redeemed during NFO Exit load : Nil or before 12 months on or before 1 year from (ii) Expense Ratio Sahara Liquid Fund : 0.30% NIL - if redeemed after allotment date. 12 months. (iii) Recurring expenses: 2. Recurring expenses First ` 100 cr : 2.50%, Next ` 300 cr : 2.25% a) Fixed Pricing Option - First `100 cr : 2.25%, Next `300 cr : 2.00% Next ` 300 crores : 2.00%, Balance : 1.75% Next `300 crores : 1.75%, Balance : 1.50% * There will be no Exit Load on Direct Applications. b) Variable Pricing Option: Concept: The scheme offers two options which differ only Service tax on exit load, if any, shall be paid out of the exit load proceeds and in the manner in which AMC fees is charged to each. While the normal Fixed Pricing exit load net of service tax, if any, shall be credited to the scheme. Option continues with the industry practice of charging complete AMC fees on a daily For Sahara Wealth Plus Fund & Sahara Infrastructure Fund basis, under the Variable Pricing Option, the AMC fee charged changes based on the schemes performance on a daily basis. Variable Pricing Option : Concept - The scheme offers two options which differ only in the manner in which AMC fees is charged to each. While the normal Fixed Pricing Option Considering : Reference Point (RP) (MIBOR) : 5.10% continues with the industry practice of charging complete AMC fees on a daily basis, Where NPR < RP Where Where Where Where NPR > under the Variable Pricing Option, the AMC fee charged changes based on the schemes performance on a daily basis. IMA fees = Maximum Permissible Expenses - Third Party ( i.e when NPR is NPR = NPR > NPR > RP plus 10% of Expenses (IMA fees: maximum permissible fees as per SEBI regulations for equity schemes) negative) (i) RP (ii) RP (iii) RP (iv) RP (v) The two (2) conditions being considered for charging IMA fees are : (i) Net Portfolio GPR 5.25 5.35 5.40 5.46 5.49 5.96 6.06 Return (NPR) > Benchmark Return (ii) Net Portfolio Return (NPR) > 0 Where Net Portfolio Return(NPR) = Gross Portfolio Return(GPR) - Third Party expenses (a) If NPR < Benchmark Recurring exp. 0.25 0.25 0.25 0.25 0.25 0.25 0.25 and NPR < 0 - IMA fees = zero (b) if either NPR > Benchmark or NPR > 0 - Actual IMA fees = ½ of maximum permissible IMA fees (c) if both NPR > Benchmark and NPR > 0 NPR 5.00 5.10 5.15 5.21 5.24 5.71 5.81 Actual IMA fees = maximum permissible IMA fees (IMA= Investment Management and Advisory fees.) Following are two illustrations to explain the Variable Pricing Option. (1) IMA fees Nil Nil 0.05 0.11 0.14 0.26* 0.27* Assume that the Benchmark return = 0.20% (a) If NPR is (0.05)% i.e NPR < Benchmark and NPR < 0 - IMA fees = zero (b) If NPR is 0.15% i.e NPR < Benchmark but NPR > IR 5.00 5.10 5.10 5.11 5.14 5.60 5.69 0 - Actual IMA fees = ½ of maximum permissible IMA fees (c) If NPR is 0.30% i.e NPR > Benchmark and NPR > 0 - Actual IMA fees = maximum permissible IMA fees (2) Assume GPR= Gross Portfolio Return NPR= Net Portfolio Return that the Benchmark return = (0.05) % (a) If NPR is (0.08)% i.e NPR < Benchmark and NPR IMA= Investment Management and Advisory Fees IR= Investor Return < 0 - IMA fees = zero (b) If NPR is (0.03) % i.e NPR > Benchmark and NPR < 0 Actual IMA fees = ½ of maximum permissible IMA fees (c) If NPR is 0.03 % i.e NPR > Benchmark and * IMA fees = (0.25 plus additional IMA fees of 1 basis point would be charged for every 10 NPR > 0 - Actual IMA fees = maximum permissible IMA fees (IMA= Investment Management basis points of out performance as mentioned above.) and Advisory fees.) As is evident from the above example, IMA fees will be chargeable to the extent of the out {Investments under the Direct Option shall have a lower expense ratio excluding performance or the maximum permissible, whichever is lower. distribution expenses, commission, etc and no commission for distribution of Units will be paid / charged for Direct Options.} Note: (i) The above description of the variable pricing module is provided as an example In addition to the limits specified, the following costs and expenses may be charged to the for the general benefit and understanding to the unit holders before arriving at a scheme, namely. conclusive decision for investment and is subject to further revision in tune with • “Brokerage and transaction costs, over and above, 0.12 per cent in case of cash market the investor needs and further transparency of the related concept. Please read transactions and 0.05 per cent in case of derivatives transactions” which cannot be Scheme Information Document for further details. included in the cost of Investments.” Scheme Name Recurring expenses Load Structure • Service Tax would be charged on Investment and Advisory Fees in addition to the Sahara Income Fund / First `100 cr : 2.25%, Exit load : NIL maximum limit of Total Expense Ratio (TER) of the scheme as prescribed in regulation 52 of the SEBI (Mutual Funds) Regulations, 1996. Sahara Gilt Fund Next `300 cr : 2.00% • Annual Scheme recurring expenses: Within the maximum limit of TER as per regulation Next `300 crores : 1.75%, 52 of the Regulations, atleast 2 basis points on daily net assets of the scheme/s would Balance : 1.50% be annually set apart for Investor Education and Awareness initiatives. Expense ratio: Sahara Income Fund 0.35%; Sahara Gilt Fund 0.35%. • Additional expenses incurred towards different heads mentioned under under sub- regulations (2) and (4) of regulation 52 of the SEBI Regulations not exceeding 0.20% of the daily net assets of the scheme. Expense ratio: Sahara Growth Fund 2.50%; Sahara Tax Gain Fund 2.50%; Sahara Mid Cap COMMON FEATURES FOR SCHEMES Fund 2.50%; Sahara Wealth Plus Fund 2.50%; Sahara Infrastructure Fund 2.50%; Sahara Star Value Fund 2.50%; Sahara Super 20 Fund 2.50%.; Sahara R.E.A.L Fund 2.50% Risk Profile of the Scheme: Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Sahara Classic Fund: Entry load: Nil, Exit Load: Nil. Expense ratio: 0.35% • Applicable NAV (Sahara Liquid Fund): Purchase: i. Where the application is received upto 2.00 p.m. on a business day and funds Sahara Short Term Bond Fund: Entry Load : Nil, Exit Load : Nil Expense ratio: 0.30% are available for utilization in the Bank account of Sahara Liquid Fund – the closing NAV of the day immediately preceding the day of receipt Scheme Name Load Structure of application; ii. where the application is received after 2.00 p.m. on a Sahara Interval Fund (i) Entry Load: Not Applicable business day and funds are available for utilization in the Bank account of Sahara Liquid Fund on the same day – the closing NAV of the day (ii) Exit load : Nil immediately preceding the next business day; and iii. irrespective of Recurring Expenses the time of receipt of application, where the funds are not available for First ` 100 Cr. : 2.25 % ; Next ` 300 Cr ; 1.75 % utilization before the cut-off time in the Bank account of Sahara Liquid Next ` 300 Cr. : 2.00 % Balance : 1.50 % Fund – the closing NAV of the day immediately preceding the day on which the funds are available for utilization. Allotment of units in respect Expense ratio: 0.35% of purchase/switch-in under Sahara Liquid Fund is subject to receipt

7 of valid applications/ switch-in request, credit of subscription/switch- The information given is included only for general purpose and is based in amounts in the bank account of Sahara Liquid Fund and funds on advise received by the AMC regarding the law and practise currently available for utilization before the cut-off timings as specified above. in force in India and the Investors/Unit holders should be aware that the relevant fiscal rules or their interpretation may change. As is thecase REPURCHASE: (a) where the application is received upto 3.00 pm – with any investment, there can be no guarantee that the tax position or the closing NAV of the day immediately preceding the next business the proposed tax position prevailing at the time of an investment in the day; and (b) where the application is received after 3.00 pm - the Scheme will endure indefinitely. In view of the individual nature of tax closing NAV of the next business day. consequences, each Investor / Unit holder is advised to consult his / her • Applicable NAV (other than Sahara Liquid Fund): PURCHASES: (a) own professional tax advisor. the applicable Net Asset Value (NAV) in respect of purchase/switch-in As per the taxation laws in force and Chapter VII of the Finance (No. 2) of units of Sahara Mutual Fund schemes (other than Sahara Liquid Act, 2004 pertaining to Securities Transaction Tax (STT), the tax benefits Fund), would be the closing NAV of the day on which the funds are / consequences as applicable, to the Sahara Mutual Fund in respect of its realized upto 3.00 pm, for application amount equal to or more than ` Mutual Fund schemes (being an equity oriented fund / other than equity 2 lakhs, subject to the transaction being time stamped appropriately. oriented fund / money market mutual fund / liquid fund) and investors For all subscriptions up to ` 2 lakhs in non-liquid schemes, allotment investing in the Units of its Mutual Fund Schemes [on the assumption that of units will be based on the NAV as per time stamp. (b) where the the units are not held as stock-in-trade] are stated as follows: application is received after 3.00 pm with a local cheque or demand draft payable at par at the place where it is received - closing NAV 1. Tax Benefits / Consequences to the Mutual Fund of the next business day; and (c) where the application is received Sahara Mutual Fund is a Mutual Fund registered with the Securities & with an outstation cheque or demand draft which is not payable on Exchange Board of India and hence the entire income of the Mutual par at the place where it is received - closing NAV of day on which Fund will be exempt from income-tax in accordance with the provisions of the cheque or demand draft is credited. For Income/Debt oriented Section 10(23D) of the Income-tax Act, 1961 (the Act). Mutual Fund scheme(s)/plan(s) (other than liquid fund schemes): REPURCHASES: (a) where the application received upto 3.00 pm - The Mutual Fund will receive all income without any deduction of tax at closing NAV of the day of receipt of application; & (b) an application source under the provisions of Section 196(iv) of the Act. received after 3.00 pm - closing NAV of the next business day. On income distribution, if any, made by the Mutual Fund, additional income-tax is payable under section 115R of the Act, in the case of • Switch and Sweep transactions: * In case of ‘Switch’ transactions its Schemes (other than equity-oriented funds i.e. such fund where from one scheme to another the allocation shall be in line with the investible funds are invested by way of equity shares in domestic redemption payouts. ‘Switch in’ transactions shall apply as if they were companies to the extent of more than 65% of the total proceeds of such purchase transactions and ‘Switch out’ transactions as if they were fund). repurchase transactions. ‘Sweep’ transactions shall apply as if they With effect from June 1, 2011, the additional income-tax on distribution of were purchase transactions and to ‘reverse sweep’ transactions shall income by a money market mutual fund or a liquid fund to an individual / apply as if they were repurchase transactions. HUF shall be payable by the mutual fund at the rate of 27.038% (including Dividend Policy: As disclosed in this Scheme Information Document, applicable surcharge, education cess and secondary and higher education the Trustee proposes to adopt the following dividend distribution cess) and at the rate of 32.445% (including applicable surcharge, policy: Under the Dividend Option, it is proposed to declare dividends education cess and secondary and higher education cess) on distribution at an appropriate time, subject to availability of distributable profits, of income to any other investor. The additional income-tax on distribution as computed in accordance with SEBI Regulations. Dividends, if any, of income by any other fund to an individual/ HUF shall be payable at declared would be paid to those Unit holders whose names appear the rate of 13.519% (including applicable surcharge, education cess in the Register of Unit holders on the Record Date. The actual date and secondary and higher education cess) and at the rate of 32.445% for declaration of dividend will be notified by a suitable display at the (including applicable surcharge, education cess and secondary and higher Investor Service Centres. Unit holders are entitled to receive dividend education cess) on distribution of income to any other investor. within 30 days of the date of declaration of the dividend. The decision The availability of credit for dividend distribution tax in the hands of the of the Trustees in this regard shall be final. non-resident investor would depend upon the tax laws of the country of Name of the Trustee Company: Board of Trustees as Trustee which he is a resident and/ or the applicable tax treaty of such country with India. Waiver of Entry Load : Entry load for all existing open ended schemes of Sahara Mutual Fund is NIL w.e.f. 1st August, 2009, in line with SEBI circular. Securities Transaction Tax Transaction Charges : Pursuant to SEBI circular, dated As per Chapter VII of the Finance (No. 2) Act, 2004 pertaining to STT, STT 22 August, 2011 and 13th September 2012, based on type of shall be payable, wherever applicable, as follows: schemes offered, a transaction charge per subscription of ` Sr. Taxable Securities Transaction Rate Payable 10,000/- and above will be charged from the investors by the AMC and paid to the distributors as follows : a) existing investors : ` by 100/- per subscription b) new investor : ` 150/- per subscription c) 1. Purchase of an equity share in a company or a 0.125 Purchaser Transaction charge if any will be deducted by the AMC from the subscription Amount and paid to the Distributor and the balance unit of an equity oriented fund, where per cent shall be invested d) No Transaction charge on subscription (a) the transaction of such purchase is entered below ` 10,000/-. e) No transaction charge on direct investments. into in a recognized stock exchange; and f) Transaction charges shall be applicable on purchases / subscriptions relating to new inflows only. (b) the contract for purchase of such share or unit is settled by the actual delivery or transfer Tax treatment for the Investors (Unit holders): The information so of such share or unit. stated is based on the Mutual Funds understanding of the tax laws in force as of the date of this Scheme Information Document, The 2. Sale of an equity share in a company or a unit of 0.125 Seller information stated below is only for the purposes of providing general an equity oriented fund, where per cent information to the investors and is neither designed nor intended to be (a) the transaction of such sale is entered into in a substitute for professional tax advice. As the tax consequences are a recognized stock exchange; and specific to each investor and in view of the changing tax laws, each (b) the contract for sale of such share or unit is investor is advised to consult his or her or its own tax consultant with settled by the actual delivery or transfer of such respect to the specific tax implications arising out of his or her or its share or unit. participation in the Scheme. 3. Sale of an equity share in a company or a unit 0.025 Seller of an equity oriented fund, where per cent TAX BENEFIT FOR EQUITY ORIENTED SCHEMES (a) the transaction of such sale is entered into in a recognized stock exchange; and TAX & LEGAL & GENERAL (b) the contract for sale of such share or unit is INFORMATION: settled otherwise than by the actual delivery or transfer of such share or unit. A. TAXATION ON INVESTING IN MUTUAL FUNDS

8 4. (a) Sale of an option in securities 0.017 Seller In case of resident individuals and Hindu Undivided Families, where per cent taxable income as reduced by long-term capital gains, is below the basic (b) Sale of an option in securities, where option 0.125 Purchaser exemption limit, the longterm capital gains will be reduced to the extent of is exercised per cent the shortfall and only the balance long-term capital gains will be subjected (c) Sale of a futures in securities 0.017 Seller to the flat rate of income-tax (plus education cess and secondary and per cent higher education cess). 5. Sale of a unit of an equity oriented fund 0.25 Seller As per Section 111A of the Act, short-term capital gains on sale of units to the Mutual Fund. per cent of an equity oriented fund where such transaction of sale is chargeable to STT shall be subject to tax at a rate of 15 per cent (plus applicable surcharge, education cess and secondary and higher education cess). 2. Tax Benefits / Consequences to Unit holders Further in case of resident individuals and HUFs where taxable income as reduced by short-term capital gains, is below the basic exemption limit, the i. Income-tax short-term capital gains will be reduced to the extent of the shortfall and All Unit holders only the balance short-term capital gains will be subjected to the flat rate of income-tax (plus education cess and secondary and higher education Income received, otherwise than on transfer (subject to the exemption of cess). long-term capital gains provided for in section 10(38) of the Act, discussed elsewhere in this Statement), in respect of units of a mutual fund would be exempt from tax under Section 10(35) of the Act. Exemption of capital gain from income tax As per Section 10(38) of the Act, any long-term capital gains arising from Tax Deduction at Source the sale of units of an equity-oriented fund where such transaction of sale is chargeable to STT, shall be exempt from tax. All Unit holders Income by way of long term capital gain of a company shall be taken No income-tax is deductible at source, on any income distribution by the into account in computing the Book profit and income-tax payable under Mutual Fund under the provisions of Section 194K and 196A of the Act. Section 115JB [MAT]. As per the provisions of section 54EC of the Act and subject to the Capital Gains Tax conditions and investment limits specified therein, capital gains (subject to the exemption of long-term capital gains provided for in section 10(38) of the Act, discussed elsewhere in this Statement), arising on transfer of a Foreign Institutional Investors long- term capital asset shall not be chargeable to tax to the extent such capital gains are invested in certain notified bonds within six months from Long-term capital gains on sale of Units, held for a period of more than the date of transfer. twelve months, would be taxed at the rate of 10% (plus applicable surcharge, education cess andsecondary and higher education cess) As per the provisions of Section 54F of the Act and subject to the under Section 115AD of the Act (subject to the exemption of long-term conditions specified therein, in the case of an individual or a HUF, capital capital gains provided for in section 10(38) of the Act, discussed elsewhere gains (subject to the exemption of long-term capital gains provided for in in this Statement). Such gains would be calculated without indexation section 10(38) of the Act, discussed elsewhere in this Statement) arising of cost of acquisition. Short-term capital gains would be taxed at 30% on transfer of a long term capital asset (not being a residential house) (plus applicable surcharge, education cess and secondary and 40 higher are not chargeable to tax if the entire net consideration received on such education cess) (subject to the concessional rate of tax provided for in transfer is invested within the prescribed period in a residential house. Section 111A of the Act, discussed elsewhere in this Statement). If part of such net consideration is invested within the prescribed period in a residential house, then such gains would not be chargeable to tax As per Section 111A of the Act, short-term capital gains on sale of units on a proportionate basis. For this purpose, net consideration means full of an equity-oriented fund, where such transaction of sale is chargeable value of the consideration received or accruing as a result of the transfer to STT, shall be subject to tax at a rate of 15 per cent (plus applicable of the capital asset as reduced by any expenditure incurred wholly and surcharge, education cess and secondary and higher education cess). exclusively in connection with such transfer.

Exemption of capital gain from income tax All Unit holders As per Section 10(38) of the Act, any long-term capital gains arising from Under the provisions of Section 94(7) of the Act, loss arising on sale of the sale of units of an equity-oriented fund where such transaction of sale Units, which are bought within 3 months prior to the record date (i.e. the is chargeable to STT, shall be exempt from tax. date fixed by the Mutual Fund for the purposes of entitlement of the Unit Income by way of long term capital gain of a company shall be taken holders to receive income or additional units without any consideration, into account in computing the Book profit and income-tax payable under as the case may be) and sold within 9 months after the record date, shall Section 115JB (Minimum Alternate Tax) [MAT]. The matter is however not be ignored for the purpose of computing income chargeable to tax to the free from doubt in case of Corporate Foreign Institutional Investors. extent of exempt income received or receivable on such Units. Under the provisions of Section 94(8) of the Act, where any person purchases units (‘original units’) within a period of 3 months prior to the Other Unit holders record date, who is allotted additional units without any payment and sells Long-term capital gains in respect of Units, held for a period of more all or any of the original units within a period of 9 months after the record than twelve months, will be chargeable under Section 112 of the Act, at date, while continuing to hold all or any of the additional units, then any concessional rate of tax, at 20% (plus applicable surcharge, education loss arising on sale of the original units shall be ignored for the purpose of cess and secondary and higher education cess) (subject to the exemption computing income chargeable to tax. The amount of loss so ignored shall of long-term capital gains provided for in Section 10(38) of the Act, be deemed to be the cost of purchase of the additional units as are held discussed elsewhere in this Statement). on the date of such sale. The following amounts would be deductible from the full value of consideration, to arrive at the amount of capital gains: Tax Deduction at Source Cost of acquisition of Units (as adjusted by Cost Inflation Index notified by the Central Government in case of long term capital gain) and All Unit holders Expenditure incurred wholly and exclusively in connection with such transfer (excluding any sum paid on account of STT) No income-tax is deductible at source from income by way of capital gains However, where the tax payable on such long-term capital gains, exceeds under the present provisions of the Act in case of residents. However, the 10% (plus applicable surcharge, education cess and secondary and higher provisions of section 195 of the Act may apply to non-residents (other than education cess) of the amount of capital gains computed before indexation, Foreign Institutional Investors and long-term capital gains exempt under such excess tax shall not be payable by the Unit holder, at his option. section 10(38) of the Act).

9 Accordingly income tax may have to be deducted at source in the case TAX TREATY BENEFITS of a non- resident (other than foreign companies) at the rate of 15% (plus A non- resident investor has an option to be governed by the provisions education cess and secondary and higher education cess) on short-term of the Act or the provisions of a Tax Treaty that India has entered into capital gains referred to in section 111A and at the rate of 30% (plus with another country of which the nonresident investor is a tax resident, education cess and secondary and higher education cess) in case of whichever is more beneficial to the non- resident investor. The provisions short-term capital gains (other than under section 111A), unless a lower of Section 195 and/or Section 197 of the Act would need to be complied withholding 41 tax certificate is obtained from the tax authorities, and at and also documents will have to be furnished by the non- resident investor the rate of 20% (plus education cess and secondary and higher education in this regard. cess) in case of long-term capital gains, unless a lower withholding tax certificate is obtained from the tax authorities. In the case of foreign companies the rate of tax to be deducted at source Wealth-tax on short-term capital gains referred to in section 111A would be 15% (plus Units of the Mutual Fund are not treated as assets as defined under applicable surcharge, education cess and secondary and higher education Section 2(ea) of the Wealth-tax Act, 1957 and therefore would not be cess) and at the rate of 40% (plus applicable surcharge, education cess liable to wealth-tax. and secondary and higher education cess) in case of short-term capital gains (other than under section 111A), unless a lower withholding tax certificate is obtained from the tax authorities, and at the rate of 20% (plus Gift-tax applicable surcharge, education cess and secondary and higher education The Gift-tax Act, 1958 has ceased to apply to gifts made on or after cess) in case of long term capital gains, unless a lower withholding tax October 1, 1998. Gifts of Units of the Mutual Fund would therefore, be certificate is obtained from the tax authorities. exempt from gift-tax. Where tax is deductible under the Act, and the deductee has not furnished a Permanent Account Number (PAN) to the deductor, tax should be deducted at source at the highest of the following rates: The above Statement of Possible Direct Tax Benefits / Consequences sets out the provisions of law in a summary manner only and is not a complete analysis or listing of all potential tax consequences of • At the rate specified in the Act the purchase, ownership and disposal of mutual fund units. The • At the rates in force statements made above are based on the tax laws in force (including the amendments made by the Finance Act, 2011), Chapter VII of the • At the rate of 20% (plus applicable surcharge and education cess and secondary and higher education cess ) Finance (No. 2) Act, 2004 pertaining to Securities Transaction Tax, and as interpreted by the relevant taxation authorities as of date. Investors/Unit Holders are advised to consult their tax advisors with Gift of Units respect to the tax consequences of the purchase, ownership and disposal of mutual fund units. As per the provisions of section 56(2)(vii) of the Act, certain specified property transferred, without consideration / adequate consideration, exceeding specified limits, are taxable in the hands of the recipient individual / HUF (subject to certain exceptions). The term “property” includes shares and securities. Units of a mutual fund could fall within the purview of the term “securities”. As per the Act, “property” would refer to capital assets only.

Clubbing of income Daily Net Asset Value (NAV) Publication Subject to the provisions of section 64(1A) of the Act, taxable income accruing or arising in the case of a minor child shall be included in the The NAV will be declared on all business days & on all 365 days for income of the parent whose total income is greater or where the marriage Sahara Liquid Fund and will be published in 2 newspapers. NAV can of the parents does not subsist, in the income of that parent who maintains the minor child. An exemption under section 10(32) of the Act, is granted also be viewed on www.saharamutual.com and www.amfiindia.com to the parent in whose hand the income is included upto `1,500/- per minor child. When the child attains majority, the tax liability will be on the child. For Investor Grievances please contact

Deduction under section 80C Registrar : As per section 80C, and subject to the provisions, an individual / HUF is Karvy Computershare Private Limited entitled to a deduction from Gross Total Income upto V 1.00 lakh (along (Unit: Sahara Mutual Fund) 21, Avenue 4, Street No. 1, with other prescribed investments) for amounts invested in any units of a mutual fund referred to in section 10(23D) of the Act, under any plan Banjara Hills, Hyderabad - 500 034. Tel: 040 - 44677122 formulated in accordance with such scheme as the Central Government E-mail: [email protected] may notify. Sahara Mutual Fund, 2nd Floor, Parinee Crescenzo, Bandra-Kurla Complex, Securities Transaction Tax Bandra (East), Mumbai – 400051 Ph: 022-39664100 Fax : 022 - 39664330 All Unit holders E-mail: [email protected] As per Chapter VII of the Finance (No. 2) Act, 2004 pertaining to STT, the Website: www.saharamutual.com STT shall be payable by the seller at the rate 0.25 per cent on the sale of a unit of an equity-oriented fund to the mutual fund. Unit holders’ Information Account statement (Would be as per SEBI guidelines), Annual financial OTHER BENEFITS results and Half yearly portfolio disclosure shall be provided to investors Investments in Units of the Mutual Fund will rank as an eligible form by post/E-mail/Published as per regulations. of investment under Section 11(5) of the Act read with Rule 17C of the Income-tax Rules, 1962, for Religious and Charitable Trusts. Date : 21.12.2012

10 INSTRUCTIONS TO INVESTORS FOR FILLING UP THE APPLICATION FORM

1. Please read all Scheme related Documents carefully before preferred bank account. AMC/RTA shall adopt the process of verification filling the Common Application Form. This application form is for for above registration as is applicable for a change in bank mandate, in Resident Investors/ NRIs etc and should be completed in English in line with guidelines issued from time to time. BLOCK LETTERS only. Please tick () in the appropriate box (), 6. KYC norms: In line with SEBI guidelines KYC is mandatory. W.e.f. where boxes have been provided. New investors who wish to enroll January 1, 2011 all individual Investors have to be KYC compliant, for Systematic Investment Plan, need to complete and submit both irrespective of the amount of Investment. Effective 1st January 2012 the relevant sections of the Common Application Form & the SIP (i) SEBI has introduced a common KYC Application Form for all the Registration Form. SEBI registered intermediaries including Mutual Funds. New Investors Application by Companies, Bodies Corporate, Registered are therefore requested to use the common KYC Application Form and Societies, Trusts, Partnerships Firms or others In case of an carry out the KYC process including In-Person Verification (IPV) with application under a Power of Attorney or by a Limited Company / Body any SEBI registered intermediaries including mutual funds. The KYC Corporate / Registered Society / Trust / Partnership Firm, the relevant Application Forms are also available on our website www.saharamutual. Power of Attorney / the relevant resolution or authority to make the com ii. The Mutual Fund shall perform the initial KYC of its new investors application / the Trust Deed / ASL / the partnership deed, as the case and may undertake enhanced KYC measures commensurate with the may be, or duly certified copy of the Memorandum and Articles of risk profile of its investors. The Mutual Fund shall upload the details of Association / Bye-Laws must be lodged at the Investor Service Centre the investors on the system of the KYC Registration Agency (KRA). along with the application, quoting the details of the application. All Karvy Computershare Pvt Ltd {Registrar & Transfer Agent (RTA)} may communication and payments shall be made to the first applicant or also undertake the KYC of the investors on behalf of the MutualFund. the Karta in case of HUF. KRAshall send a letter to the investor within 10 working days of the Applications by NRIs, PIOs, FIIs etc. In terms of its notification receipt of the initial/updated KYC documents from the Mutual Fund, RBI has granted a general permission to mutual funds, as referred confirming the details thereof. iii. Once the investor has done KYC to under Section 10 (23D) of Income Tax Act, 1961 to issue and with a SEBI registered intermediary, the investor need not undergo the repurchase units of their schemes which are approved by SEBI to same process again with another intermediary including mutual funds. NRIs/OCBs, subject to conditions. Further, the general permission However, the Mutual Fund reserves the right to carry out fresh KYC of is also granted to send such units to NRIs/OCBs to their place of the investor. iv. It is mandatory for intermediaries including mutual funds residence or location, as the case may be and make payment to the to carry out In-Person Verification (IPV) of its new investors from the Non-Resident Investors, subject to conditions set out in the aforesaid Effective Date. The IPV carried out by any SEBI registered intermediary notification. can be relied upon by the Mutual Fund /Sahara Asset Management Company Limited and NISM/AMFI certified distributors who are However, NRI/OCB investors, if so desired also have the option KYD compliant are authorised to undertake the IPV for Mutual Fund to make their investment on a non-repatriable basis. The fund will investors.v. Existing KYC compliant investors of the Mutual Fund can comply with the necessary regulatory provisions for repatriation of the continue to invest as per the current practice. However, existing investors investment after the receipt of approval. All applications from OCBs are also urged to comply with the new KYC requirements including IPV and from other corporate bodies predominantly owned by NRIs should as mandated by SEBI. be accompanied with the requisite OAC/OACI (revised) form. As Investments from Investors residing in Sikkim are exempted from PAN, 2. The Signature(s) should be in English or in any of the Indian languages following documents are required to be submitted: a. Proof of address specified in the Eighth Schedule of the Constitution of India. Thumb of Sikkim state and application form should mention the same address. Impressions must be attested by a Magistrate or a Notary Public or a b. Address proof shall be self attested by the investor / attested by the Special Executive Magistrate under his/her official seal. Applications ARN holder mentioning the ARN number or attested by any competent by minors should be signed by their guardian. In case of HUF, the authority. KARTA should sign on behalf of the HUF. Similarly, for the Association of Persons (AOP) the application must be signed by the Authorised 6 A) Pursuant to SEBI circular no.MIRSD/SE/Cir-21/2011 dated October Signatory. 05, 2011 and SEBI circular no. MIRSD/Cir-5/2012 dated April 13, 2012, investors are requested to note that the 'Know Your Customer' (KYC) 3. The cheque/demand draft should be drawn in favour of e.g. “Sahara information of mutual fund investors who have completed their KYC Liquid Fund” or “Sahara Growth Fund” or “Sahara Classic Fund- through CDSL Ventures Ltd (CVL) upto December 31, 2011 have been Growth Option-Direct” or as the case may be and crossed “Account uploaded by CVL in the 'KYC Registration Agency' system (CVL-KRA). Payee Only”. The Specified Transaction Period under Sahara With effect from 1st December, 2012, if these investors wish to invest Interval Fund would be between 12 th and 16th day in the months of in the schemes of Sahara Mutual fund for the first time they would be March, June, September, December each year. The cheque/demand required to submit 'missing/not available' KYC information and complete draft should be payable locally at the centre where the Application is the 'In Person Verification' (IPV) requirements. deposited. The cheque/demand draft should be drawn on any bank which is a member/sub-member of the Bankers Clearing House of that city. In case of Individual investors, the following details need to be submitted: 1. Father's/Spouse's Name 2. Marital Status 3. Nationality 4. Gross 4. Investors are requested to mentioned the correct scheme name, option / Annual Income or Net worth (not older than 1 year) 5. In-Person sub-option in the application form. If such a choice is not being indicated Verification (IPV). by the investor, it will be deemed that the investor has opted for Dividend Re-investment option. Individual investors are requested to fill in “KYC Details Change Form” issued by CVL-KRA and also available on the AMC website www. 5. As per SEBI guidelines, it is mandatory for the first applicant to saharamutual.com. This duly filled form along with IPV completed provide the name of the bank, branch, address, account type and status would need to be submitted along with the purchase application. account number at the time of application. Investments by means of Alternatively, investors may also approach their existing mutual funds at Demand Drafts, will be accepted, only if accompanied with a Bankers any investor service centre for completion of this KYC requirement. Certificate that the applicant is a account holder with the issuing banker and the amount of Demand Draft has been issued from his / her account. In case of Non Individuals, even if they have completed their KYC on By filling up the Multiple Bank Account Registration Form, an individual or before 31/12/2011, KYC is required to be done again with any SEBI investor can register up to five bank accounts for a folio with the Fund registered KRA due to significant changes in KYC requirements, if they to receive the redemption/dividend proceeds choosing one of these intend to invest through a new folio with Sahara Mutual Fund. accounts as the preferred bank account. Non-individuals can register 6B) Systematic Investment Plans (SIPs) - The Systematic Investment upto 10 different bank accounts for a folio. The Unit Holder may choose Plans (SIPs) by an Investor where the aggregate of installment to receive the redemption/dividend proceeds in any of the bank accounts, values does not exceed `50,000/- per year (in a rolling year) shall be the details of which are registered under the facility by specifying exempted from PAN requirement. However in lieu of PAN. Investor the same in the ‘Service Request Form in the Statement of Account/ has to submit any one photo identification document (such as Voter Multiple Bank account Registration Form '. However, where a Unit ID Card, government Defense ID Card, Card of reputed employer, Holder does not specify the same, the default option would be to credit Driving License, Passport etc) and proof of address along with the the redemption/dividend proceeds to the bank account chosen as the application

11 6C) SYSTEMATIC TRANSFER PLAN (STP): form/section in the application form will have a provision for the signature of the nominee (or guardian of the nominee), though this may not be STP Type Days Frequency Minimum STP mandatory. h) Nomination is not allowed in a folio held on behalf of Daily STP All Business days Daily `100/- and in a minor. i) Non-individuals including society, trust, body corporate, Multiples of `1/-. partnership firm, Karta of Hindu Undivided Family, holder of Power of Weekly STP 7th, 14th, 21st, 28th Weekly `500/- and in Attorney cannot nominate. j) A minor can be nominated and in that event, Multiples of `1/-. the name and address of the guardian of the minor nominee shall be Monthly STP 1st, 5th, 25th Monthly Minimum amount provided by the unit holder. k) The Nominee shall not be a trust, society, as provided under body corporate, partnership firm, Karta of Hindu Undivided Family or SIP a Power of Attorney holder. A non-resident Indian can be a Nominee subject to the exchange control regulations in force, from time to time. l) Quarterly STP 1st, 5th, 25th Quarterly Minimum amount Nomination in respect of the units stand rescinded upon the transfer of as provided under SIP units. m) Transfer of Units in favour of Nominee shall be valid discharge The Daily / Weekly /Monthly or quarterly STP should be registered for by the Asset Management Company against the legal heir. n) The minimum of 6 months between two schemes. The application for STP cancellation of nomination can be made only by those individuals who should be submitted at least 10 Business Days in advance before the have held units on their own behalf singly or jointly and who made the commencement date of STP. No minimum balance has to be maintained original nomination. On cancellation of the nomination, the nomination for opting Systematic Transfer Plan. shall stand rescinded and the Asset Management Company shall not be In case of STP, if the day is a non business day the processing will under any obligation to transfer the units in favour of the Nominee. be done on the next business day. Exit load, if any, under respective 13. Non Acceptance of Third Party Instrument : Definition of third-party schemes will apply to STP. instrument payment: a) When payment is made through instruments Minimum balance under the schemes: The AMC at its sole discretion issued from an account other than that of the beneficiary investor, retains the right to close unit holder's account if the total subscription the same is referred to as Third-Party payment; b) It is clarified that amount falls below the minimum application amount of the respective in case of payments from a joint bank account, the first holder of schemes / plan / option at the end of the period under SIP or on account the mutual fund folio has to be one of the joint holders of the bank of redemption account from which payment is made. 6D) Exemption from Permanent Account Number (PAN) requirement Exceptions: Securities and Exchange Board in India (SEBI) vide its letter no. Third-Party payments shall be rejected except in the following OW/16541/2012 dated July 24, 2012 conveyed that investments in exceptional situations but adherence to certain formalities: a) Payment mutual fund schemes {including investments through Systematic by Parents/Grand-Parents/related persons on behalf of a minor in Investment Plan (SIP)} of less than ` 50,000/- (Rupees Fifty Thousand) consideration of natural love and affection or as gift for a value not per year per investor shall be exempted from requirement of PAN. exceeding `50,000/- (each regular purchase or per SIP installment); Accordingly, investors are requested to note that the PAN requirement However this restriction will not be applicable for payment made by shall be exempted if the aggregate of the lump sum investment (fresh a guardian who's name is registered in the records of Mutual Fund purchase & additional purchase) and SIP installments by an investor in that folio. b) Payment by Employer on behalf of employee under in rolling 12 months period does not exceed ` 50,000/-(Rupees Fifty Systematic Investment Plans through Payroll deductions; c) Custodian Thousand).However, it is clarified that the requirements of Know Your on behalf of an FII or a client. Customer (KYC) shall be mandatory for all investments, irrespective Process to identify Third-Party payments: of the amount of investment. For the purpose of identifying such The following process is recommended for investors to comply with the investments the value of investments at the investor level (first holder) requirements as stated below : will be aggregated and such aggregation shall be done irrespective of the number of folios / accounts under which the investor has invested. a) An applicant/ investor at the time of his/her purchase must provide the details of his pay-in bank account (i.e. account from which a subscription The aforesaid exemption for PAN will be applicable only to such payment is made) and his pay-out bank account (i.e. account into which investments made by the individuals being Indian citizens (including Non redemption / dividend proceeds are to be paid). In case an applicant/ Resident India (NRIs), Joint holders, minors acting through guardian and investor has multiple accounts, it is desired that he submits the bank sole proprietary firms). Person of Indian Origin (PIOs), Hindu Undivided details in the “Multiple bank Accounts Registration Form”. Pay-in from Family (HUFs), Qualified Foreign Investor (QFIs) and other categories such registered single or multiple accounts can be treated as 1st party of investors will not be eligible for this exemption. payments. 7. Application without KYC / Bank account details will not be accepted. b) If the subscription is settled with pre-funded instruments such as Pay 8. NRIs / Persons of Indian origin seeking to apply for Units on a non- Order, Demand Draft, Banker’s cheque, etc., a Certificate from the repatriation basis may make payments by cheques /drafts drawn out of Issuing banker must accompany the purchase application, stating the Non-Resident Ordinary (NRO) accounts payable at the centre where the Account holder’s name and the Account number which has been debited application form is accepted. for issue of the instrument. 9. Payments by Cash, Stock Invests, Post-dated cheques or out station c) A pre-funded instrument issued by the Bank against Cash, should be cheques will not be accepted. accompanied by a certificate from the banker giving name, address and PAN (if available) of the person who has requested for the demand draft. 10. Please refer to the table on scheme name, plan / Option / sub option The name as per the letter should match with the first named applicant/ for easy reference while filling up the scheme details at the time of unit holder. Such DD/Bankers Cheque issued by the bank against cash investment. shall not be accepted for investments of `50,000/- or more. 11. Applicants should specify the mode of holding. In case of joint holders, d) If payment is made by RTGS, NEFT, ECS, bank transfer, etc., a copy the first named holder will receive all the account statements, income/ of the instruction to the bank stating the account number debited must redemption/refund warrants and any other correspondence sent from accompany the purchase application. The AMC/R&TA shall check that time to time. the account number mentioned on the transfer Instruction copy is a 12. Nomination Details - Kindly fill up the nomination details in the application registered pay-in account or belonging to the first named applicant/ unit form. a) Nomination will be maintained at the folio or account level and holder. will be applicable for investments in all schemes in the folio or account.b) 14. Dematerialisation: Currently Units of Sahara Interval Fund are listed on Where a folio has joint holders, all joint holders should sign the request the National Stock Exchange. Investors are given an option to hold Units for Nomination/cancellation of nomination, even if the mode of holding by way of an Account Statement (physical form) or in Dematerialized is not “joint”. c) Nomination form cannot be signed by Power of Attorney (demat) form. Unit holders opting to hold the Units in demat form must (PoA) holders.d) Every new nomination for a folio/account will overwrite provide their Demat account details in the specified section of the the existing nomination.e) Nomination is be mandatory for new folios/ application form. Unit holders intending to hold the Units in Demat form accounts opened by individual especially with sole holding and no are required to have a beneficiary account with the Depository Participant new folios/accounts for individuals in single holding shall be opened (DP) registered with NSDL/CDSL and will be required to indicate in the without nomination. f) Investors who do not wish to nominate must sign application form, the DP’s name, DP ID number and the beneficiary separately confirming their non-intention to nominate.g) Nomination account number of the Unit holder with the DP.

12 In case Unit holders do not provide their Demat account details or iii. Redemption of Units Routed Through Depository Participants for provide incomplete details or the details do not match with the records as BSE StAR MF. per Depository(ies), an account statement shall be sent to them. Such The Investors who intend to deal in Depository mode are required to investors will not be able to trade on the stock exchange till the holdings have units in the demat account maintained with CDSL/NSDL prior are converted in to Demat form. Unit holder who so desires to hold the to placing of redemption order with their Depository Participant. The Units in a demat form at a later date, will be required to have a beneficiary Investors should provide their Depository Participant with Depository account with a DP of NSDL/ CDSL and will have to submit the account Instruction Slip with relevant Scheme ISIN and units to be redeemed. statement alongwith a request form asking for the conversion into demat The redemption proceeds will be credited to the bank account of the form. This request is called a Demat Request Form (DRF). Unit holder will investor, as per the bank account details recorded with the Depository be required to fill in a DRF in triplicate alongwith the relevant details and Participant. Unit holders are requested to note that request for submit the same to the Registrar alongwith the account statement to be conversion of units held in Account Statement (non-demat) form into dematerialized. The combination of names in the account statement must Demat (electronic) form or vice versa should be submitted alongwith be same as that in the demat account. Rematerialization of Units will be a Demat/Remat Request Form to their Depository Participants. in accordance with the provisions of SEBI (Depositories & Participants) Regulations, 1996 as may be amended from time. The applicability of NAV will be subject to guidelines issued by SEBI on Uniform cut-off timings for applicability of NAV of Mutual Fund As prescribed under SEBI circular no. CIR/IMD/DF/9/2011 dated May 14A. Scheme(s)/Plan(s). Applications for purchase/redemption of units 19, 2011, investors/Unit Holders are provided with an option to hold their which are incomplete /invalid are liable to be rejected. Separate folios Units in dematerialized (“Demat”) form while subscribing to the Units will be allotted for units held in physical and demat mode. In case of the schemes of the Mutual Fund, in addition to the existing option of of non-financial requests/applications such as change of address, holding Units in physical form by way of an account statement. Investors/ change of bank details, etc. Unit Holders shall clearly specify the preferred mode of holding in the Application Form. Investors should approach Investor Service Centres (ISCs) of Sahara Mutual Fund if units are held in physical mode and the respective Unit Holders opting to hold the Units in Demat form must provide their Depository Participant(s) if units are held in demat mode. An account Demat Account details in the specified section of the Application Form statement will be issued by Sahara Mutual Fund to Investors who Account statements for Units held in Demat form: In case of Units held purchase/ redeem their units under this facility in physical mode. In in demat form, the Unit Holder will receive the holding statement directly case of Investors who intend to deal in units in depository mode, a from the respective DP at such frequency as may be defined in the demat statement will be sent by Depository Participant showing the Depositories Act or regulations or on specific request. credit/debit of units to their account. Investors will have to comply with 14B. Demat option for Systematic Investment Plan (SIP): w.e.f 1st January, Uniform Know Your Customer (KYC) norms as prescribed by SEBI to 2012 the option to hold units in Demat Form for Systematic Investment participate in this facility. Investors should contact the Investor Service Plan (SIP) transactions is available. The Units for subscription in Demat Centres (ISCs) of Sahara Mutual Fund for further details. Form units will be allotted based on the applicable NAV as per Scheme iv. Minimum Application Amount: Information Document (SID) and will be credited to investors Demat The minimum amount for purchase of units under all the eligible Account on weekly basis on realisation of funds, for e.g. Units will be scheme(s) through the Stock Exchange Platform (BSE StAR MF) credited to investors Demat account every Monday for realization status would be `1000/- and in multiples of `.1/- thereafter across all eligible received in last week from Monday to Friday. schemes except Sahara Tax Gain Fund being `.500/- and in multiples 15. TRANSACTIONS THROUGH THE STOCK EXCHANGE INFRASTRUCTURE of ` 500/- thereafter. The maximum purchase amount under all the The facility to purchase / redeem units of the eligible schemes of Sahara eligible schemes would ` 99, 99,999/-. Mutual Fund (currently, all existing schemes except Sahara Liquid Fund v. Minimum Redemption Variable Pricing Option – Daily Dividend, Sahara Liquid Fund Fixed Pricing Option – Daily Dividend, Sahara Liquid Fund Variable Pricing The minimum units (and multiples thereafter) for redemption of Option - Weekly Dividend, Sahara Liquid Fund Fixed Pricing Option units under all the eligible scheme(s) through the Stock Exchange -Weekly Dividend and Sahara Interval Fund) through BSE StAR MF Platform (BSE StAR MF) would be 0.0010 units respectively. There platform is available. All trading members of BSE who are registered is no maximum limit fixed under all the eligible schemes towards with AMFI/NISM as Mutual Fund Advisors & Clearing members who are redemption of units. registered with BSE will be eligible to offer this facility to Investors. The vi. Systematic Investment Plan Facility (SIP) units of eligible Schemes are not listed on BSE and the same cannot be In respect of the units purchased through the Stock Exchange traded on the Stock Exchange. Platform (BSE StAR MF), the SIP date would be 5th/15th/25th “ at i. Purchase/ Redemption of Units: Physical Form specific periods currently being monthly and quarterly. On submission and verification of requisite documents Purchase/ 16. “On Behalf of Minor” Accounts : Where the account / folio (account) Redemption of Units the Brokers or Clearing Members will issue is opened on behalf of a minor, following guidelines would be applicable an order confirmation slip. For Purchase the investor will transfer - there shall not be any joint accounts with minor as the first holder. the funds to the Brokers/ Clearing Members and for redemption the 17. Minor Attaining Majority - Status Change : a) When the units are redemption proceeds will be credited to the bank account of the held on behalf of the minor, the ownership of the units rests with the investor, as per the bank account details recorded with the Mutual minor. A guardian operates the account until the minor attains the Fund. age of majority. b) When a minor turns major, advance notice will be ii. Purchase/ Redemption of Units: Dematerialized Form sent to the registered correspondence address advising the guardian Investors are required to have a demat account with CDSL/NSDL and the minor to submit an application form along with prescribed and shall place an order for Purchase/Redemption of units with the documents (service request form, new bank mandate, signature Brokers or Clearing Members. An order confirmation slip will be issued attestation form, KYC of major etc.) as applicable from time to time to to investor and investor will transfer the funds to the Brokers/Clearing change the status of the account to “major”. The notice would state Members for purchase. The Investors for redemption should provide that all transactions including SIP, STP, SWP shall be suspended in their Depository Participant with Depository Instruction Slip with case the documents to change the status are not received by the relevant units to be credited to Clearing Corporation Pool Account. date when the minor attains majority. c) The account shall be frozen The redemption order will be entered in the system and an order for operation by the guardian on the day the minor attains the age of confirmation slip will be issued to investor. Investors shall receive majority and no transactions shall be permitted till the documents as redemption amount through Broker/Clearing Member's account. The applicable for changing the status are received. d) The AMC at their AMC/Mutual Fund shall credit the units into Broker/Clearing Member's discretion will have the right to suspend all standing instructions like pool account in case of purchase and in case of redemption shall pay SIPs, SWPs, STPs etc. from the date of the minor attaining majority, proceeds to the Broker/Clearing Member and Broker/Clearing Member by giving adequate notice prior to that date.e) AMC will register in turn to the respective investor's account. Such credit of units and standing instructions like SIP, SWP, STP in a minor folio only till the redemption proceeds by the AMC/Mutual Fund to the Broker/Clearing date of the minor attaining majority, though the instructions may be Member's pool account shall discharge AMC/ Mutual Fund of its for a period beyond that date. obligation to the Investors. 18. Change in Guardian : For registration of the new guardian, when

13 there is a change in guardian either due to mutual consent or demise amount of transaction charges. In the event of such instances of existing guardian, necessary documents as applicable from time to having come to the notice of the AMC stringent action will be time would be required to be submitted to the AMC. taken by the AMC and recommended to AMFI for appropriate 19. Transmission - For transmission of units under various situations action. which may be either transmission of units to surviving unit holders, 22. The Distributor would note the investments made through EUIN transmission of units to the registered nominee in case of death of as advisory transactions, and that EUIN would assist in tackling sole or all unit holders, transmission of units to claimant/s, where the problem of misspelling even if the employee/relationship nominee is not registered, in case of death of sole or all unit holders, manager/sales person leave the employment of the distributor. transmission of units in case of HUF, due to death of Karta or any 23. No separate receipt will be issued for the application money. The Investor such other circumstances, necessary documents as prescribed and Service Centre will time stamp and return the acknowledgement slip in applicable from time to time would have been submitted to the AMC. the application form, to acknowledge receipt of the application. Clarifications : 24. Applications incomplete in any respect or not accompanied by a cheque/  It is clarified that PAN card copy or another proof of identity of demand draft for the amount payable are liable to be rejected and the claimant /s is not required separately if KYC acknowledgement issued money paid will be refunded without interest. by CVL is made available. 25. The AMC would arrange to forward the statement of account, annual  Where the units are to be transmitted to a claimant who is a minor, report or other investor correspondence through email / physical as various documents like KYC, PAN, Bank details, indemnity should be preferred by the investor in the application form. of the guardian of the nominee. 26. Investors are cautioned that they should not determine their  A ready reckoner matrix of various documents required under investments based on unauthorised news or rumours which may different situations is provided for convenience in the website www. otherwise result into considerable damage to their portfolio. saharamutual.com and also at the office of the AMC / R&T. 27. The changes in the provisions of the schemes informed to the 20. Pursuant to SEBI Circular Cir/ IMD/ DF/13/ 2011 dated August 22, investors vide various addendums/notices have been covered in 2011 and 13th September 2012, transaction charge per subscription the Key Information Memorandum & the Application form. of `10,000/- and above be allowed to be paid to the distributors of Investors are requested to refer to the website www.saharamutual. the schemes of Sahara Mutual Fund. However, there shall be no com for Addendums / Notices. transaction charges on direct investments. 28. Applications complete in all respects, may be submitted at the The transaction charge shall be subject to the following: Collection Centres at locations mentioned in the KIM/Application Form Transaction charges: as appointed by the AMC. Application form/s not completed in any respect/s is liable to be rejected by the AMC. The Fund shall deduct Transaction Charges on purchase/ subscription received from first time mutual fund investor and investor/s other than first time mutual fund investor, whose application is routed through distributor / agent who have “Opted in” for Transaction charges. 29. Accompanying documents (i) First time Mutual Fund Investor (Across Mutual Fund Industry): Transaction charges of `150/- for subscription of `10,000/- and Please submit the following documents with your application (where above shall be deducted from the subscription amount and paid applicable). All documents should be original / true copies certified to the Distributor/ Agent of the first time Investor and the balance amount shall be invested. by a Director / Trustee / Company Secretary / Authorised Signatory (ii) Investor other than First Time Mutual Fund Investor: Transaction / Notary Public. charge of `100/- per subscription of `10,000/- and above will be deducted from the subscription amount and paid to the Documents Companies Societies Partnership Investments Trusts NRI Flls distributor/agent of the investor and the balance shall be Firms through POA invested. Resolution/Authorisation P P P P (iii) For SIP: Transaction charges in case of investments through to invest Systematic Investment Plan (SIP) shall be deducted only if List of Authorised the total commitment (i.e. amount per SIP installment x No. of Signatories with P P P P P P installments) amounts to `10,000/- or more. The Transaction Specimen signature(s) Charges shall be deducted in 4 installments. Memorandum & Articles P (iv) Transaction charges shall not be deducted for: (a) Purchases / of Association subscriptions for an amount less than `10,000/- (b) Transaction Trust Deed P other than purchases/subscriptions relating to new inflows such as Switch/STP/SWP/STP etc. (c) Purchases/subscriptions made Bye-laws P directly with the Fund (i.e. not through any distributor/ agent). (d) Partnership Deed Transactions carried out through stock exchange mechanism. P Overseas Auditors’ Upfront commission to distributors shall continue to be paid Certificate P by the investor directly to the distributor by a separate cheque based on his assessment of various factors including the service Notarised Power of P rendered by the distributor. Attorney 21. Distributors are expected to abide by the AMFI code of Account Type / FIRC / P conduct and avoid any malpractise / mis-selling. Distributors Approval from FIPB are expected not to spilt investments in order to enhance the

Note : All future communication in connection with this application should be addressed to the Registrar at the address given above, quoting full name of First/Sole Applicant, the name of the Scheme, the amount invested, date and the place of the Collection Centre / Investor Service Centre where application was lodged. Registrar & Transfer Agent : KARVY COMPUTER SHARE PVT. LTD. (KARVY) (Unit : Sahara Mutual Fund) 21, Avenue 4, Street No. 1, Banjara Hills, Hyderabad - 500034. Ph: 040 - 44677122 l Email : [email protected]

14 SAHARA MUTUAL FUND COMMON APPLICATION FORM Serial No: CAF 0113 DISTRIBUTOR INFORMATION FOR OFFICE USE ONLY Name & Distributor Code / ARN Sub-Agent / Distributor Code EUIN of the distributor Date, Time / ISC and Number as per Time Stamping Machine 0032 “I/We hereby confirm that the EUIN box has been intentionally left blank by me/us as this is an “execution-only” transaction without any interaction or advice by the employee/relationship manager/sales person of the above said distributor or notwithstanding the advice of in-appropriateness, if any, provided by the employee/relationship manager/sales person of the distributor and the distributor has not charged any advisory fees on this transaction”.

1. FOR EXISTING UNIT HOLDER’S OF SAHARA MUTUAL FUND PLEASE PROVIDE Folio No. (Proceed to 4,8)

2. APPLICANT INFORMATION (To be filled in block letters. Use one box for one alphabet, leaving one box blank between name and surname) Full Name of Sole / First Investor / Minor / Karta of HUF / Non Individual / (Mr. / Ms. / M/s.) Date of Birth (dd/mm/yyyy)

Document for proof of Date of Birth (DOB) and Relationship with Minor :  Birth certificate  School Leaving Certificate  Passport  Others (Please state)______Relationship with Minor [Pl. P] Mother Father Legal Guardian Full Name of Guardian (in case of Minor) / Contact Person (In case of non-individual investors) / PoA Holder’s name (Mr./Ms.) Date of Birth (dd/mm/yyyy)

Second Applicant’s Name (Mr./Ms.) Date of Birth (dd/mm/yyyy)

Third Applicant’s Name (Mr./Ms.) Date of Birth (dd/mm/yyyy)

Address in full (DO NOT REPEAT NAME) of Applicant/Parent OR Guardian of Minor/Indian address in case 1st Applicant is NRI/FII (Post Box No. alone is not sufficient)

Dist. City Pin State: STD Code Tel. Fax Mobile (10 Digit) Email-ID Preferable mode of communication E-mail Yes No (Refer instruction no. 24) 3. MANDATORY FOR INVESTMENT BY NRI(s) / FII(s) (Please provide full address, Post Box No. alone is not sufficient) Overseas Address City Country Pin/ZIP 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 or subscription have been remitted from abroad through approved banking channels or from funds in my / our Non-Resident External / Ordinary Account / FCNR Account. Please (P) Repatriation basis Non-Repatriation basis

4. MANDATORY DETAILS (Pl. Quote PAN for all applicants / KYC Ack.) (Refer Form inst. no. 6 & 7) Occupation of the 1st Applicant [Pl. P] 5. Mode of Holding [Pl.P] Applicant Permanent Account Number (PAN) KYC acknowledgement [Pl. P] 1. Business 2. Professional 1. Single Sole / 1st Applicant Submitting now Already submitted 3. Agriculturist 4. Private sector service 2. Joint* / Guardian / PoA 5. Retired 6. Student 3. Either or Survivor/s 2nd Applicant Submitting now Already submitted 7. Housewife 8. Public / Govt. service (*Default in case not indicated when applicants are more than 9. Forex Dealer 10. Others (pl.specify) 3rd Applicant Submitting now Already submitted one) ______6. Status/Category of the 1st Applicant [Pl. P ] 1. Resident Individual 2. On behalf of minor 3. HUF 4. Body Corporate 5. AOP/BOI 6. Partnership Firm 7. Proprietorship Firm 8. Company Listed Unlisted 9. Trust 10. Society 11. NRI 12. FIIs 13. Government Body 14. Financial Institution 15. Banks 16. Others (pl.specify)______

7. Bank Particulars (It is mandatory to furnish bank particulars failing which application shall be rejected) (Refer Form instruction no. 5)

Bank Account No. Account Type : Savings Current NRE NRO FCNR MICR Code (9 digit) IFSC Code ( 11 digit for RTGS & NEFT) Bank Name Branch Address City Pin

8. INVESTMENT AND PAYMENT DETAILS Please submit one cheque / DD for each scheme (REFER TABLE “SCHEME NAME”) PLEASE SEE PAGE 22 & 23. Scheme Name Plan / Option Sub Option

Cheque / DD No. Net Amount (`) Bank & Branch Name & City Mode of Payment : Cheque / DD  / RTGS  / NEFT  ECS  / Fund Transfer  @ For NRI(s) Source of Fund: Account Type @ (SB/ CA/ NRE/ NRO/ FCNR) NRE NRO FCNR Banker’s Certificate is mandatory for applications in case of Demand Drafts. (Ref. instr. no.5 )   as Normal Investment / or through SIP / or through STP / or through Switches Sr. No: CAF Received from Mr. / Ms. / M/s an application for purchase of units of investor) Collection Centre’s Receipt Date and Time

by , (scheme) subject to realisation of cheque(s)/demand draft(s).

` (in Figures)______Cheque/ DD No.______Dated______filled

be Bank Name Bank Branch Cheque/DD is subject to realisation

ACKNOWLEDGEMENT In case of Sahara Tax Gain Fund based on the production of this acknowledgement, the investor may claim tax exemption under Sec.80C of the IT Act till the statement (To of account is issued provided the payment instrument is encashed and the application and other documents are found to be in order. 15 9. SIP ENROLMENT DETAILS - Selected SIP Date (please ( P ) only one) 5th / 15th / 25th No. of SIP Installments

SIP Amount (in `) Enrolment Start Month End Month Frequency ( P ) Monthly Quarterly ...... Period (mm/yyyy) (mm/yyyy)

Payment Mechanism ( P ) Option 1: Debit through ECS / Direct Debit facility (Tick this box and fill up SIP ECS / Direct Debit facility form) (Refer SIP instruction no. 6B & 6D) Option 2: Through Post Dated Cheques - Total Cheques Cheque Nos. from To

Drawn On Bank Branch Name City

10. nomination details (MANDATORY FOR SINGLE HOLDING) (Refer instruction no. 12 of KIM) Mandatory - NON INTENTION TO nOMINATE I/We ______hereby I / We Do Not Wish to nominate. nominate the under mentioned person to receive the amount to my/our credit in the event of my/our death indicated against the Name of the Nominee. ( Applicable for investors who do not wish to nominate) I/We also understand that all payments and settlements made to such nominee shall be a valid discharge by the AMC / Mutual Fund / Trustee.

Name & Address of the Nominee Guardian Name & Address (in case nominee is a minor) Date of Birth Relationship Signature of Nominee / (if minor) with the Applicant Guardian [Optional]

11. Switches (Please mention target folio No. if it is not the one mentioned overleaf) Folio No.

or or [Pl. P] (Please note that switch can be done either in units or in amount only and not both.) Amount ` No. of units Entire Balance From Scheme Name Option To Scheme Name Option

12. Systematic Transfer plan (stp) (Refer instruction no. 6C of KIM) STP Date (Monthly / Quarterly option) ( ( P ) only one) 1st 5th 25th

STP Date (Weekly option) ( ( P ) only one) 7th 14th 21st 28th

` Fixed Amount (in ) Enrolment Start Month End Month Frequency (P) Daily / Weekly / Monthly / Quarterly Period (mm/yyyy) (mm/yyyy) From Scheme Name Option To Scheme Name Option 13. DEPOSITORY ACCOUNT DETAILS ( Refer Instruction No. 14a & 14b) (Units are intended to be held in demat form) Refer KIM instructions for details and risk factors associated with listing of units in the SID. Please ensure that the sequence of names as mentioned in this Application Form matches with that of the account held with the Depository Participant. Depository Participant Name (DP) : Please() National Securities Depository Limited Central Depository Services (India) Limited Beneficiary Account Number : DP ID I N Client Id (16 digit beneficiary A/c No. to be mentioned above) 14. Transaction Charges : Pursuant to SEBI circular vide no. Cir / IMD /DF/ 13 / 2011 dated 22 August, 2011 a transaction charge per subscription of ` 10,000/- and above will be charged from the investors by the AMC and paid to the distributors as follows : a) existing investors : ` 100/- per subscription b) new investor : ` 150/- per subscription c) Transaction charge if any will be deducted by the AMC from the subscription Amount and paid to the Distributor and the balance shall be invested d) No Transaction charge on subscription below ` 10,000/-. e) No transaction charge on direct investments. f) Transaction charges shall be applicable on purchases / subscriptions relating to new inflows only. 15. declaration (Please whichever is applicable.)  I/We have read and understood the contents of the Scheme Information Document (SID)/ Statement of Additional Information (SAI) / Key Information Document (KIM) and Addendum(s) thereto of the respective scheme(s) and agree to abide by the terms , conditions, rules and regulations of the scheme(s) as applicable from time to time. I/We hereby declare that I /We are making this investment of the scheme for investment from our own funds on my/our personal behalf and are not beneficiaries of any fund obtained in contravention of Prevention of Money Laundering Act or any guidelines issued from time to time and subsequent amendments thereto including the section on “Prevention of Money Laundering”, I/We hereby apply to the Trustee of Sahara Mutual Fund for units of the Scheme as indicated above and agree to abide by the terms and conditions, rules and regulations of the Scheme. I/We have not received and will not receive nor will be induced by any rebate or gifts, directly or indirectly, in making this investment. I/We further declare that the amount invested by me/us in the Scheme is derived through legitimate sources and is not held or designed for the purpose of contravention of any act, rules, regulations or any statute or legislation or any other applicable laws or any notifications, directions issued by any governmental or statutory authority from time to time.  (Applicable for SIP Investors only). I/We hereby declare that the particulars given above are correct and express my/our willingness to make payments referred above through participation in ECS /Direct Debit Clearance. If the transaction is delayed or not effected at all, for reasons of incomplete or incorrect information on my/our part or circumstances beyond the control of AMC/its service provider, I/We would not hold the Asset Management Company responsible in any manner. I/We hereby authorize Sahara Mutual Fund and their authorised service providers, to get my/our above bank account debited by ECS / Direct Debit towards the collection of monthly payments on due SIP dates as opted by me/us. In the event of any changes in the bank particulars, I/We will submit a fresh mandate along with a cancellation request for the earlier mandate well in advance. I/We have read and agreed to the terms and conditions mentioned in KIM / SID / SAI.  The details of the bank account provided above pertain to my / our bank account in my / our name.  The ARN holder has disclosed to me/us all the commissions (in the form of trail commission distribution cost or any other cost), payable to him for the different competing Schemes of various Mutual Funds from amongst which the Scheme is being recommended to me/us. The ARN holder has adequately explained the appropriateness of the scheme to me / us & I/We are fully convinced that there is no mis-selling to me/us & that I/We are fully responsible for making this investment. Upfront commission, if any will be paid to the AMFI registered and empanelled (with Sahara Mutual Fund) ARN Holder, directly by the Investor. Date / /

Sole / First Second Third Unitholder Unitholder Unitholder / Guardian / (Signature) (Signature) POA (Signature)   SAHARA ASSET MANAGEMENT COMPANY PRIVATE LIMITED Corporate Office : 2nd Floor, Parinee Crescenzo, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051. Phone: (022) 39664100 • Fax: (022) 39664330 Email: [email protected] • Website: www.saharamutual.com Registrar & Transfer Agent : KARVY COMPUTER SHARE PVT. LTD. (KARVY) (Unit : Sahara Mutual Fund) 21, Avenue 4, Street No. 1, Banjara Hills, Hyderabad - 500 034 Ph: 040 - 44677122 • Email: [email protected] Note: All future communication in connection with the application should be addressed to the Registrar at the address given in this form, quoting full name of sole/first applicant, the application serial number, the name of the scheme/option, amount invested, date and the place of the AMC/ Collection Centre where the application was lodged/submitted. 16 Serial No: SYSTEMATIC INVESTMENT PLAN (SIP) SIP Application No.(CAF) (Existing Investors Folio No) DISTRIBUTOR INFORMATION FOR OFFICE USE ONLY Name & Distributor Code / ARN Sub-Agent / Distributor Code EUIN Date, Time / ISC and Number as per Time Stamping Machine 0032 “I/We hereby confirm that the EUIN box has been intentionally left blank by me/us as this is an “execution-only” transaction without any interaction or advice by the employee/relationship manager/sales person of the above said distributor or notwithstanding the advice of in-appropriateness, if any, provided by the employee/relationship manager/sales person of the distributor and the distributor has not charged any advisory fees on this transaction”. Sole / First Investor / Minor Name (Mr./Ms.) Date of Birth (dd/mm/yyyy)

Full Name of Guardian (in case of Minor) / PoA Holder’s name (Mr./Ms.) Relationship with Minor [Pl. P] Mother Father Legal Guardian Second Applicant’s Name (Mr./Ms.) Date of Birth (dd/mm/yyyy)

Third Applicant’s Name (Mr./Ms.) Date of Birth (dd/mm/yyyy)

I/We hereby give my/our consent to receive all communication such as Account Statement, Transaction update , Half yearly portfolio, Annual Report and any other related data / information by Email. Pl (P) Email-ID KYC DETAILS Applicant Permanent Account Number (PAN) KYC acknowledgement [Pl. P] Sole / 1st Applicant / Guardian / PoA Submitting now Already submitted 2nd Applicant Submitting now Already submitted 3rd Applicant Submitting now Already submitted INVESTMENT AND PAYMENT DETAILS (Refer to KIM for instruction) (REFER TABLE “SCHEME NAME”) SIP Date (P) 5th / 15th / 25th Scheme Plan / Sub Name Option Option ` SIP Amount (in ) Enrolment Start Month End Month Frequency Please ( P ) Monthly Quarterly ...... Period (mm/yyyy) (mm/yyyy) First SIP transaction via Cheque No. Cheque Dated Amount (in `) I/We hereby authorise Sahara Mutual Fund/ Sahara Asset Mgmt. Co. Pvt. Ltd & their authorised service provider to debit my/ our following bank account by ECS ( Debit Clearing )/ Direct Debit for collection of SIP payment. PARTICULARS OF BANK ACCOUNT Bank Account No. Account Type : Savings Current NRE NRO FCNR Account Holders Name as in Bank account MICR Code (9 digit) (Please enclose copy of IFSC Code ( 11 digit for RTGS & NEFT) cancelled cheque) [Mandatory] Bank Name Bank City

1) I/We hereby declare that the particulars given above are correct and express my/our willingness 1st applicant/ to make payments referred above through participation in ECS/Direct debit. If the transaction is Guardian Signature delayed or not effected at all, for reasons of incomplete or incorrect information on my/our part, I/ (As in Bank Records) we would not hold the user institution responsible. 2) I/We will also inform Sahara Mutual Fund / Sahara Asset Management Company Private Limited about any changes in the bank account. 2nd applicant / 3) The ARN holder has disclosed to me/us all the commissions (in the form of trail commission or any Signature other mode), payable to him for the different competing Schemes of various Mutual Funds from amongst (As in Bank Records) which the Scheme is being recommended to me/us. 4) The ARN holder has adequately explained the appropriateness of the scheme to me / us & I/We are fully convinced that there is no mis-selling to me/us & that I/We are fully responsible for making this investment. 5) I/We have read and understood 3rd applicant / conditions mentioned overleaf, and agree to the Terms and Conditions mentioned in the Scheme Signature (As in Bank Records) Information Document (s). Date / /

BANKERS ATTESTATION : Certified that the Signature of Account Holder and details of the bank Signature of authorised official of bank (Bank’s stamp and date) account are correct as per details. We accept the Mandate.

Verification request to be retained by the customer bank

The Branch Manager, Bank Branch Sub: Mandate Verification for account no. ______This is to inform you that I/We have registered with Sahara Mutual Fund through their authorised Service provider for the RBI’s Electronic Clearing Service (Debit Clearing)/Auto Debit facility and that my payment towards my investment in Sahara Mutual Fund shall be made from my / our above mentioned bank account with your bank. I/We authorise the representative carrying this ECS/Auto Debit account mandate form to get it verified & executed. Please debit my/our account for verification charges, if any. Thanking you,

1st applicant / 2nd applicant 3rd applicant Guardian (Signature) (Signature) (Signature)   Received from Mr./Ms./M/s...... Serial No: SIP Address...... SIP / Auto Debit Application under (Scheme) ...... Slip along with first SIP cheque no...... dated...... drawn on (Bank / Branch) Seal, Signature & Date ...... for ` ...... PLEASE TURNOVER Acknowledgement 17 Terms and Conditions A. SIP payment through Electronic Service (Debit Clearing) of the Reserve Bank of India (RBI). List of cities for SIP Auto Debit facility - through ECS (Debit clearing) Agra, Ahmedabad, Allahabad, Amritsar, Asansol, Aurangabad, Bangalore, Bardhaman, Baroda (Vadodara), Belgaum, Bhilwara, Bhopal, Bhubaneshwar, Bijapur, Calicut, Chandigarh, Chennai, Cochin, Coimbatore, Cuttack, Davangere, Dehradun, Delhi, Dhanbad, Durgapur, Erode, Gadag, Goa, Gorakhpur, Guwahati, Gwalior, Haldia, Hubli, Hyderabad, Indore, Jabalpur, Jaipur, Jalandhar, Jammu, Jamnagar, Jamshedpur, Jodhpur, Kakinada, Kanpur, Kolhapur, Kolkata, Lucknow, Ludhiana, Madurai, Mandya, Mangalore, Mumbai, Mysore, Nagpur, Nasik, Nellore, Patna, Pondicherry, Pune, Raipur, Rajkot, Ranchi, Salem, Shimla, Shimoga, Sholapur, Siliguri, Surat, Thirupur, Tirupati, Trichur, Trichy, Trivandrum, Tumkur, Udaipur, Udipi, Varanasi, Vijaywada, Vizag. B. SIP payment through Direct Debit facility is available with: (As per arrangement made by the AMC from time to time) i) HDFC Bank Ltd / AXIS Bank Ltd / IDBI Bank Ltd / IndusInd Bank Ltd / Kotak Mahindra Bank - All Branches. ii) Bank of India and Punjab National Bank - Select Branches (*) * for list of branches, check website www.saharamutual.com or contact our Investor Service Centres (ISCs). 1. This facility is offered only to the investors having bank accounts in selected cities/Selected banks/Branches mentioned above. 2. Please submit the following documents at least 30 working days before the 1st SIP date for ECS (Debit Clearing) New Investors Existing Investors • Application form for the respective scheme(s) • 1st SIP Cheque * • 1st SIP Cheque * • SIP ECS/Auto Debit Facility Form • SIP ECS/Auto Debit Facility Form * The 1st SIP Cheque should be issued from the same bank account which is to be debited under ECS for subsequent installments. i.e. the 1st cheque should be drawn on the same bank account which is to be registered for ECS (Debit) In case the 1st cheque is issued from an account which is different from ECS debit account, then a specimen cancelled cheque from ECS Debit account (as mentioned in the application form) should be submitted along with other requirements.[Other Terms and Conditions or as stated in the SIP registration cum mandate form.] 3. The cheques should be drawn in favor of the scheme/plan chosen e.g. “Sahara Growth Fund”, "Sahara Tax Gain Fund - Dividend Option - Direct" and crossed “account payee only” and payable locally and drawn on any bank, which is situated at and is a member of bankers clearing house located at the place where the SIP application is submitted. Outstation cheque will not be accepted. 4. Please write the SIP Form Number/the first applicant’s name on the reverse of the cheque accompanied by the SIP form 5. Return/ dishonored cheque will not be presented again for collection 6. The bank account provided for ECS (Debit) should participate in local MICR Clearing. 7. The names of cities in the list may be modified/ updated/ changed/removed at any time in future entirely at the discretion of Sahara Mutual Fund/Sahara Asset Management Private Limited without assessing any reasons or prior notice. If any name of city is removed, SIP instructions for investors in such cities via ECS (Debit) route will be discontinued without prior notice. In such a case, the AMC at its sole discretion may accept post dated cheque (PDC’s) from the investors for the balance period. 8. MICR code starting and /or ending with 000 are not valid for ECS. 9. SIP Auto Debit facility is available only on specific dates of the month 5th, 15th or 25th. 10. The investor agrees to abide by the terms and conditions of ECS facilities of Reserve Bank of India (RBI). 11. Investor will not hold Sahara Mutual Fund/Sahara Asset Management Private Limited, its Registrars and other service providers responsible if the transaction is delayed or not effected or the investor bank account is debited in advance or after the specific SIP date due to various clearing cycles of ECS/local holidays 12. Sahara Mutual Fund / Sahara Asset Management Private Limited, its Registrars and other service providers shall not be responsible nor liable for any damages/ compensation for any loss, damages etc. incurred by the investor. The investor assumes the entire risk of using these facilities and takes full responsibility. 13. Sahara Mutual Fund/Sahara Asset Management Private Limited reserves the right to reject any application without assigning any reason thereof. 14. Please read the Key Information Memorandum and Scheme Information Document (SID) of respective scheme(s) for applicable NAV, risk factors, load, minimum SIP amount and other information. 15. Investor can choose to change his/her/their bank account or discontinue this facility by giving 30 days written notice to any of our Investor Service Centers. 16. Allotment of units would be subject to realization of credit. 17. An investor can opt for monthly or quarterly frequency. 18. Only one SIP per month or per quarter is permitted per folio/ account. 19. The applicable NAV for the 1st installment (in respect of the 1st cheque) will be as per the date and time at which the same has been received at ISC. If the date of the subsequent SIP cheque/ installment is a non transaction day for the scheme, then the units shall be allotted on the next / following transaction day. 20. Exemption from Permanent Account Number (PAN) requirement Securities and Exchange Board in India (SEBI) vide its letter no. OW/16541/2012 dated July 24, 2012 conveyed that investments in mutual fund schemes {including investments through Systematic Investment Plan (SIP)} of less than ` 50,000/- (Rupees Fifty Thousand) per year per investor shall be exempted from requirement of PAN. Accordingly, investors are requested to note that the PAN requirement shall be exempted if the aggregate of the lump sum investment (fresh purchase & additional purchase) and SIP installments by an investor in rolling 12 months period does not exceed ` 50,000/-(Rupees Fifty Thousand).However, it is clarified that the requirements of Know Your Customer (KYC) shall be mandatory for all investments, irrespective of the amount of investment. For the purpose of identifying such investments the value of investments at the investor level (first holder) will be aggregated and such aggregation shall be done irrespective of the number of folios / accounts under which the investor has invested. The aforesaid exemption for PAN will be applicable only to such investments made by the individuals being Indian citizens (including Non Resident India (NRIs), Joint holders, minors acting through guardian and sole proprietary firms). Person of Indian Origin (PIOs), Hindu Undivided Family (HUFs), Qualified Foreign Investor (QFIs) and other categories of investors will not be eligible for this exemption. However in lieu of PAN, Investor has to submit any one photo identification document along with the application as follows: (a) Voter Identity Card, (b) Driving License, (c) Government / Defense identification card, (d) Passport, (e) Photo Ration Card, (f) Photo Debit Card (Credit card not included because it may not be backed up by a bank account), (g) Employee ID cards issued by companies registered with Registrar of Companies (database available in the website of Ministry of Company affairs (http://www.mca.gov.in), (h) Photo Identification issued by Bank Managers of Scheduled Commercial Banks / Gazetted Officer / Elected Representatives to the Legislative Assembly / Parliament, (i) ID card issued to employees of Scheduled Commercial / State / District Co-operative Banks, (j) Senior Citizen / Freedom Fighter ID card issued by Government, (k) Cards issued by Universities / deemed Universities or institutes under statutes like ICAI, ICWA, ICSI, (l) Permanent Retirement Account No (PRAN) card issued to New Pension System (NPS) subscribers by CRA (NSDL), (m) Any other photo ID card issued by Central Government / State Governments /Municipal authorities / Government organizations like ESIC / EPFO. 21. In case of SIPs, the transaction charge shall be applicable only if the total commitment through SIPs, amounts to `10,000/- and above. In such cases the transaction charge shall be recovered in four instalments and pay to the distributor. 22. The copy of proof of address which is self attested & attested by the ARN holder is required to be submitted by the investor at the time of investment.

  Registrar & Transfer Agent: Sahara Mutual Fund KARVY Computershare Private Limited (Unit: Sahara Mutual Fund) 2nd Floor, Parinee Crescenzo, Bandra-Kurla Complex, Bandra (East), 21, Avenue 4, Street No.1, Banjara Hills, Hyderabad-500 034. Mumbai – 400051 Ph : 022 - 39664100. Ph : 040 - 44677122, Email : [email protected] E-mail: [email protected] Website: www.saharamutual.com

Note: All future communication in connection with the application should be addressed to the Registrar at the address given in this form, quoting full name of sole/first applicant, the application serial number, the name of the scheme/option, amount invested, date and the place of the AMC/ Collection Centre where the application was lodged/submitted. 18 Multiple Bank Accounts Registration Form

Folio No.______OR Application No ______Permanent Account Number (PAN) (For Existing Unit Holders) (for New Unit Holders) Name of Sole / First Unit Holder______ Please strike unused sections to avoid unauthorised use. A - ADDITION OF BANK ACCOUNTS Please register my/our following bank accounts for all investments in my/our folio. I/we understand that I/we can choose to receive payment proceeds in any of these accounts, by making a specific request in my/our redemption request. I/We understand that the bank accounts listed below shall be taken up for registration in my/our folio in the order given below and the same shall be registered only if there is a scope to register additional bank accounts in the folio subject to a maximum of five in the case of individuals and ten in the case of non individuals. For each bank account, Investors should produce original for verification or submit originals of the documents mentioned below. For additional back account please use extra copies of this form.

Account No. Account type  Savings  Current  NRE  NRO  FCNR  ___ Bank Name Branch City PIN code MICR Code^ IFSC Code^^ Document attached (Any one)  Cancelled Cheque with name pre-printed  Bank statement  Pass book  Bank Certificate ^ 9 digit code on your cheque next to the cheque number. ^^ 11 digit code printed on your cheque. Account No. Account type  Savings  Current  NRE  NRO  FCNR ___ Bank Name Branch City PIN code MICR Code^ IFSC Code^^ Document attached (Any one)  Cancelled Cheque with name pre-printed  Bank statement  Pass book  Bank Certificate ^ 9 digit code on your cheque next to the cheque number. ^^ 11 digit code printed on your cheque. Account No. Account type  Savings  Current  NRE  NRO  FCNR  ___ Bank Name Branch City PIN code MICR Code^ IFSC Code^^ Document attached (Any one)  Cancelled Cheque with name pre-printed  Bank statement  Pass book  Bank Certificate ^ 9 digit code on your cheque next to the cheque number. ^^ 11 digit code printed on your cheque.

B - DEFAULT BANK ACCOUNT From among the bank accounts registered with you or mentioned above, please register the following bank account as a Default Bank Account into which future redemption and or dividend proceeds, if any of the above mentioned folio will be paid: Bank Name Bank Account No. SIGNATURES (To be signed as per mode of holding. In case of non-Individual Unit holders, to be signed by AUTHORISED SIGNATORIES) Sole / First Applicant / Unit holder Second Applicant / Unit holder Third Applicant / Unit holder

1st applicant / 2nd applicant 3rd applicant Guardian (Signature) (Signature) (Signature)

C - Bank Account Deletion Form

Folio No. ______Permanent Account Number (PAN) Name of Sole / First Unit Holder ______ Please delete the following Bank accounts as registered accounts for my/our folio : Bank Account No. Bank Name Bank Account No. Bank Name Bank Account No. Bank Name Bank Account No. Bank Name Deletion of a default bank account is not permitted unless the investor mentions another registered bank account as a default account in Part B of this Form. SIGNATURES (To be signed as per mode of holding. In case of non-Individual Unit holders, to be signed by AUTHORISED SIGNATORIES) Sole / First Applicant / Unit holder Second Applicant / Unit holder Third Applicant / Unit holder

1st applicant / 2nd applicant 3rd applicant Guardian (Signature) (Signature) (Signature)

19 INSTRUCTIONS

1. This facility allows a unit holder to register multiple bank account details for all investments held in the specified folio (existing or new). Individuals/HUF can register upto 5 different bank accounts for a folio. Non-individuals can register upto 10 different bank accounts for a folio. For registering more than 4 accounts, please use extra copies of this form.

2. Please enclose a cancelled cheque leaf for each of such banks accounts. This will help in verification of the account details and register them accurately. The application will be processed only for such accounts for which cancelled cheque leaf is provided. Accounts not matching with such cheque leaf thereof will not be registered.

3. If the bank account number on the cheque leaf is handwritten or investor name is not printed on the face of the cheque, bank account statement or pass book giving the name, address and the account number should be enclosed. If photocopies are submitted, investors must produce original for verification.

4. Bank account registration/deletion request will be accepted and processed only if all the details are correctly filled and the necessary documents are submitted. The request is liable to be rejected if any information is missing or incorrectly filled or if there is deficiency in the documents submitted.

5. The first/sole unit holder in the folio should be one of the holders of the bank account being registered.

6. The investors can change the default bank account by submitting this form. In case multiple bank accounts are opted for registration as default bank account, the mutual fund retains the right to register any one of them as the default bank account.

7. A written confirmation of registration of the additional bank account details will be dispatched to you within 10 calendar days of receipt of such request.

8. If any of the registered bank accounts are closed / altered, please intimate the AMC in writing of such change with an instruction to delete/alter it from of our records.

9. The Bank Account chosen as the primary/default bank account will be used for all Redemption payouts/ Dividend payouts. At anytime, investor can instruct the AMC to change the default bank account by choosing one of the additional accounts already registered with the AMC.

10. If request for redemption is received along with a change of Bank account, the redemption request would be processed with the new bank account, subject to proper documentation & guidelines issued from time to time.

11. If in a folio, purchase investments are vide SB or NRO bank account, the bank account types for redemption can be SB or NRO only. If the purchase investments are made vide NRE account(s), the bank accounts types for redemption can be SB/ NRO/ NRE.

12. The registered bank accounts will also be used to identify the pay in proceeds. Hence, unit holder(s) are advised to register their various bank accounts in advance using this facility and ensure that payments for ongoing purchase transactions are from any of the registered bank accounts only, to avoid fraudulent transactions and potential rejections due to mismatch of pay-in bank details with the accounts registered in the folio.

20 Sahara Mutual Fund Investor Service Centres Ahmedabad : A/1, Ground Floor, Narnarayan Complex, Near Swastik Char Rasta, Navrangpura, Ahmedabad-380 009. Tel. : 079 - 32942935 / 079 - 40072935 Bangalore : No. 41, 3rd Cross Ulsoor Road, Bangalore -560 042, Tel : 080-32928532 / 080 -25327891 Bhubaneshwar : Plot No. 617 / D, Kharvel Nagar, Unit - 3, In Front of Giridurga Temple, Bhubaneshwar, Pin - 751 001 Tel : 0674 – 2391372 / 0674 - 3257998 Chandigarh : SCO - 364 -366, Cabin - 304, Sec - 34/A, 3rd floor, Above Tata Motors, Chandigarh - 160 034.Tel : 0172 - 3244010 / 0172-4636359 Chennai : Flat No -J , 2nd Floor, '' Mount Chambers'' No.-758, Anna Salai, Chennai - 600 002, Tel : 044 32979232 / 044 - 43546336 Coimbatore : Door No. 196/8, Ground Floor, Aiswarya Commercial Centre, T.V.Samy Road, (West), R.S. Puram, Coimbatore - 641 002 Tel : 0422-3296379 / 4367908 Gurgaon : Sahara Q Shop, Sector - 53, Phase - 5, Augusta Buliding, 3rd floor, Gurgaon ( Haryana ) - 122 002 Tel : 0124 -3224746 Gorakhapur : Shop No. 23, Upper Ground Floor, Cross Roads, " The Mall ", Bank Road, Gorakhpur - 230 001. Tel : 0551 - 3247171 Hyderabad : Sahara Manjil, 2nd Floor, Opp: Secretariat, Basheerbagh, Hyderabad - 500 004 Tel : 040 -32936958 Indore : Flat No. 315, 3rd Floor, President Tower, 6/2, South Tukoganj, Indore, Madhya Pradesh - 452 001 Tel : 0731 - 3255735 / 0731 - 4035735 Jaipur : Office No-305-A, 3rd Floor, Shyam Anukampa, Opp. HDFC Bank, C Sheme, Ashok Marg, Jaipur - 302 001 Tel : 0141 3269923 / 0141- 4013634 Kolkata : Sahara India Sadan, Ground Floor, 2 A - Shakespeare Sarani, Kolkata - 700 071. Tel : 033 32977674 / 033 - 40032420 Salt Lake City : B D - 16 ( Ground Floor ), Sector - 1, Salt Lake City, Kolkata - 700 064. Tel : 033 40041617 Lucknow : Office No - 8, Gr. Floor, Saran Chamber-1, V Park Road, Lucknow - 226 001 Tel : 0522 3242899 Mumbai : 2nd Floor, Parinee Crescenzo, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051 Tel : 022-39664100 Patna : C/o. Sahara India Pariwar, Sahara India Vihar,Boring Road Chaurha Boring Road, Patna - 800 001 Tel : 0612 - 3255280 Pune : Office No-71, Shrinath Plaza, Off F C Road, Dyaneshwar Paduka Chowk, Shivaji Nagar, Pune - 411 005 Tel : 020 - 32934114 Noida : C-1 Sahara India Complex, Sector - 11, Noida - 201 301 Tel : 0120 - 3100209 New Delhi : Flat No. 701, Deep Shikha, 7th Floor, 8 Rajendra Place, New Delhi - 110 008.Tel : 011 - 25755783 Jammu : Kiosk - 5, ( B - 1 ), North Block, Ground Floor, Bahu Plaza, Jammu - 180 012. Tel : 09205044557 Thane : Shop No. 1, Santoshi Bhavan , Shivaji Path, Behind Punjab National Bank, Thane - 400 601 Tel : 022 - 5441993

REGISTRAR AND TRANSFER AGENT: Karvy Computershare Private Limited (Unit: Sahara Mutual Fund) 21, Avenue 4, Street No.1,Banjara Hills, Hyderabad - 500 034. Ph : 040 - 44677122 Email : [email protected] KARVY INVESTOR SERVICE CENTRES Ahmedabad : 079-26402967 ; 079-26400527 ; 079-26407541; 079 -32997508 Allahabad : 0532-3240012; 0532- 2260291; 0532- 2260292; 0532- 3294280 Bangalore : 080 – 32008452; 080 – 25320085; 080-41233439; Baroda: 0265 – 6640870; 0265 – 6640871; Bhubaneswar: 0674-6534585; 0674-2547531; 0674-2360334, 2360335; 0674-2547532; Chandigarh : 0172-4342618 ; 0172-5071726; 0172-5071727; 0172-5071728; Chennai : 044- 42028513; 044-42028512; 044-28587772; 044 - 42028858(Exclusive for DWS) Cochin: 0484-4010224; 0484-4027672;0484-4027672/0484-4010273; Coimbatore: 9600930515; 0422-4353211 to 217; Cuttack: 0671-2613906; 0671-2613905; Durgapur: 0343 -6512111; Ghaziabad: 0120-3100049; 0120 – 2701891; 0120 – 2701886; Gorakhpur: 0551-3200444; 0551-3097816; 0551-3246793; 0551 – 3297817; 0551-2346519; 0551 – 3297816; Gurgaon : 0124-3210019 / 4297214 / 215; 0124-3243535; 0124-4083854; 0124-4086419; 0124-4086914; Guwahati: 0361 – 2203324; 0361-2608016; Hyderabad: 040 - 23312454/44677075/7076/7077; Indore: 0731- 4266828; Jaipur: 0141-2379761; 0141-2375039; 0141-2363321; Jammu: 9205044668; 9906296948; Kanpur: 0512-3211008; 0512-3246390; 0512-3211008; Kolkata: 033-64444177; 033-64444176; 033 24659267/ 63 ; Lucknow: 0522-3213115; 0522- 2236819;0522-2236820 / 28; Mangalore: 0824-2496289; Mumbai : 022 - 66235353 Nagpur: 0712-6610513; 0712- 6618583; New Delhi: 011- 43681700; Noida: 0120-3100214; Panjim: 0832 - 2426871/73; Patna: 0612-6453098; 0612-2321354; 0612-2321356; Pune: 020-25533795; 020 25539957; 020- 25532783; 020-25533592; Raipur: 0771-6450194; 0771-4039320; Varanasi: 0542-3208198; 0542-2223814; 0542-2227259; 0542-2225365; 0542-3206494;

KARVY TRANSACTION POINTS Agra : 0562-4000601, 0562-2526663; Ajmer : 0145-2628055, 0145-5120725; Ambala : 0171- 3200223, 0171-2640669; Amritsar : 0183-5053804; Anand : 02692 – 248980 ; Asansol : 0341-2221248, 0341-2314624; Aurangabad : 0240-2355926, 0240-2363517 ; Balasore : 06782-260503, 06782- 265492; Bareilly : 0581-3200414; Belgaum : 0831-2402722; Berhampur : 0680 - 2208006 / 0680-3205010, 0680-2202833; Bhagalpur : 0641-3200584; Bharuch : 02642-2225022; Bhavnagar : 0278 - 2567005/6; Bhilai : 0788-2295329 / 32; Bhilwara : 01482-246362 / 64/ 512586 /87; Bhopal : 0755- 4092706, 0755-4092708; Bokaro : 06542 - 233331/32/30; Burdwan : 0342- 2550219, 0342-2550840/2550801; Calicut : 0495-3042083, 0495-2742105; Cochin : 0484-4010224, 0484-4027672; Dehradun : 0135 – 3205130; Dhanbad :0326 – 6452027; 0326-2301045; Dharwad : 0836-2744207; Erode : 0424-4021212, 0424 2225615, 2225616; Faridabad : 0129-3213529 / 4159103, 0129 - 4024442; Guntur : 0863-2339094, 0863-2326686 ; Gwalior : 0751- 4042435, 0751-4069001/2/3/4; Hissar : 01662-225845 ; Hubli : 0836-2232443, 0836-2232444; Jabalpur : 0761 – 3204376; Jalandhar : 0181-4634410, 0181-4634401; Jalgaon : 0257-2226761 Ext: 133, 0257 – 2227432 ; Jamshedpur : 0657-2487045, 0657- 2487045/2487020 ; Jamnagar : 0288-2556260; Jhansi : 0510 – 2333685, 0510 – 3200668; Jodhpur : 0291-2638479; Karaikudi : 04565-237192 ; Karur : 04324-248871 / 04324-326048; Kolhapur : 0231- 2653656; Kota : 0744 5100962, 0744-2365144; Kottayam : 0481-2300868, 0481 – 2302420; Ludhiana : 0161-4648747, 0161-4680000; Madurai : 0452-2600852 / 865; Margoa : 0832-2734656, 0832-2731822 ; Meerut : 0121-4033727; Moradabad : 0591-3201272; 0591 – 2310470; Muzaffarpur : 0621-3200474, 0621-3204090; Mysore : 0821 – 2438006, 0821-2441524; Nasik : 0253-6611395; Navsari : 02637-280367, 02637-280362; Panipat : 0180-3200136, 0180-2644308; Patiala : 0175-5004349, 0175-5051728; Panjim : 0832 - 2426871/73; Pondicherry : 0413 – 4210640, 0413 ; Rajahmundry : 0883-2432076/2434468, 0883 - 2434468 / 69 / 70; Rajkot : 9601288416; Ranchi :0651 - 2331320 ; 0651-2330394; Rohtak : 01262-318564; 01262- 271984; Rourkela : 0661-25107772 ; Salem : 0427-4020300; 0427-2210835,2210983; Shillong : 0364 – 2224186, 0364-2228172; Shimla : 0177- 3206519, 0177 – 3299222; Shimoga : 08182-322577, 08182-227485; Silchar : 03842-261229, 03842-260334; Siliguri : 0353-2522579, 0353-2526399; Surat : 0261-3042170; Tirupur : 0421-2214221; Trichur : 0487 – 3246231, 0487 – 3246239; Trichy : 0431 - 4020227 – 226, 0431-2793799; Trivandr um : 0471 – 2725728, 0471 – 2725990; Udaipur : 0294-2429370, 0294-5101601; Valsad : 02632-258481, 02632-326902; Vapi : 0260-3206404; Vijayawada : 0866 2475126, 0866-2495200; Mehsana : 02762 322559, 2762 242950 ; Tirunalveli : 0462-2335137; Visakhapatnam : 0891 - 2714125 / 2734244; 0891-2752916; Gaya : 0631-2220071, 0631-2220065; Darbhanga : 06272-220145, 06272 - 326015.

21 INSTRUCTIONS FOR investment and payment details

INSTRUCTION - Investment Details - Applicants can invest in one or more of the schemes by filling the amount of investments and submitting separate cheques for all investments under separate application forms. Please refer to the respective SCHEME NAME / OPTION / SUB-OPTION to be filled up in the application form towards your investments. Please note that if you do not indicate the investment option of the relevant scheme, then the Mutual Fund will place you into the default option of the scheme, as per existing scheme provisions. INSTRUCTION - Payment Details - The subscription amounts can be tendered by local cheques/demand drafts favouring the applicable scheme and must be crossed “Account Payee Only”. The cheque / demand draft should be drawn on any bank which is situated at and is a member/ sub-member of the Bankers clearing house. Cheques /demand drafts drawn on a bank not participating in the clearing house will not be accepted. Cash will not be accepted.

Scheme name Option Sub-option Scheme name Option Sub-option Sahara Liquid Fund Variable Pricing Option Daily Dividend Option (RI) Sahara Liquid Fund Variable Pricing Option Weekly Dividend Option (RI) Sahara Interval Fund Dividend Option Payout Quarterly Plan - Series 1* Sahara Liquid Fund Variable Pricing Option Monthly Dividend Option (RI) Sahara Interval Fund Dividend Option Re-Investment Option Sahara Liquid Fund Variable Pricing Option Growth Option Quarterly Plan - Series 1* Sahara Liquid Fund Variable Pricing Option-Direct Daily Dividend Option (RI) Sahara Interval Fund Growth Option Sahara Liquid Fund Variable Pricing Option-Direct Weekly Dividend Option (RI) Quarterly Plan - Series 1* Sahara Liquid Fund Variable Pricing Option-Direct Monthly Dividend Option (RI) Sahara Interval Fund Dividend Option-Direct Payout Quarterly Plan - Series 1* Sahara Liquid Fund Variable Pricing Option- Direct Growth Option Sahara Interval Fund Dividend Option-Direct Re-Investment Option Sahara Liquid Fund Fixed Pricing Option Daily Dividend Option (RI) Quarterly Plan - Series 1* Sahara Liquid Fund Fixed Pricing Option Weekly Dividend Option (RI) Sahara Interval Fund Growth Option – Direct Sahara Liquid Fund Fixed Pricing Option Monthly Dividend Option (RI) Quarterly Plan - Series 1* Sahara Liquid Fund Fixed Pricing Option Growth Option Sahara Liquid Fund Fixed Pricing Option-Direct Daily Dividend Option (RI) Sahara Short Term Bond Fund Dividend Re-Invt Option Sahara Liquid Fund Fixed Pricing Option-Direct Weekly Dividend Option (RI) Sahara Short Term Bond Fund Growth Option Sahara Liquid Fund Fixed Pricing Option-Direct Monthly Dividend Option (RI) Sahara Short Term Bond Fund Dividend Re-Invt Option-Direct Sahara Liquid Fund Fixed Pricing Option- Direct Growth Option Sahara Short Term Bond Fund Growth Option-Direct

Sahara Income Fund Dividend Option Payout Sahara Tax gain Fund Dividend Option Payout Sahara Income Fund Dividend Option Re-Investment Option Sahara Tax gain Fund Dividend Option Re-Investment Option Sahara Income Fund Growth Option Sahara Tax gain Fund Growth Option Sahara Income Fund Dividend Option- Direct Payout Sahara Tax gain Fund Dividend Option - Direct Payout Sahara Income Fund Dividend Option-Direct Re-Investment Option Sahara Tax gain Fund Dividend Option - Direct Re-Investment Option Sahara Income Fund Growth Option - Direct Sahara Tax gain Fund Growth Option-Direct

Sahara Gilt Fund Dividend Option Payout Sahara Growth Fund Dividend Option Payout Sahara Gilt Fund Dividend Option Re-Investment Option Sahara Growth Fund Dividend Option Re-Investment Option Sahara Gilt Fund Growth Option Sahara Growth Fund Growth Option Sahara Gilt Fund Dividend Option- Direct Payout Sahara Growth Fund Dividend Option-Direct Payout Sahara Gilt Fund Dividend Option- Direct Re-Investment Option Sahara Growth Fund Dividend Option-Direct Re-Investment Option Sahara Gilt Fund Growth Option - Direct Sahara Growth Fund Growth Option-Direct

Sahara Classic Fund Dividend Option Payout Sahara Midcap Fund Dividend Option Payout Sahara Classic Fund Dividend Option Re-Investment Option Sahara Midcap Fund Dividend Option Re-Investment Option Sahara Classic Fund Growth Option Sahara Midcap Fund Growth Option Sahara Classic Fund Dividend Option- Direct Payout Sahara Midcap Fund Growth Auto Earnings Payout Sahara Classic Fund Dividend Option- Direct Re-Investment Option Sahara Midcap Fund Bonus Option Sahara Classic Fund Growth Option – Direct Sahara Midcap Fund Dividend Option-Direct Payout

For Direct Investments investors are requested to clearly choose the 'Direct' option at point no. 8 in the application form. *Sahara Interval Fund Quarterly Plan Series-1 would be open for subscription / redemption / switches during 12-16th in the months of March, June, September, December each year.  It is suggested that investors / unitholders issue payment instrument (cheque, demand draft, pay order etc.) in favour of “Scheme name A/c First Investor Name” as stated in the application form or Statement of Account

22 Scheme name Option Sub-option Scheme name Option Sub-option

Sahara Midcap Fund Dividend Option-Direct Re-Investment Option Sahara Infrastructure Fund Variable Pricing Option Payout – Dividend Option - Direct Sahara Midcap Fund Growth Auto Earnings Payout - Direct Sahara Infrastructure Fund Variable Pricing Option Re-Investment Option – Dividend Option - Direct Sahara Midcap Fund Bonus Option - Direct Sahara Infrastructure Fund Variable Pricing Option Sahara Midcap Fund Growth Option - Direct – Growth Option-Direct Sahara Infrastructure Fund Fixed Pricing Option Payout Sahara Super 20 Fund Dividend Option Payout – Dividend Option Sahara Super 20 Fund Dividend Option Re-Investment Option Sahara Infrastructure Fund Fixed Pricing Option Re-Investment Option – Dividend Option Sahara Super 20 Fund Growth Option Sahara Infrastructure Fund Variable Pricing Option Sahara Super 20 Fund Dividend Option-Direct Payout – Growth Option Sahara Super 20 Fund Dividend Option-Direct Re-Investment Option Sahara Infrastructure Fund Fixed Pricing Option Payout Sahara Super 20 Fund Growth Option-Direct – Dividend Option - Direct Sahara Infrastructure Fund Fixed Pricing Option Re-Investment Option – Dividend Option - Direct Sahara Star Value Fund Dividend Option Payout Sahara Infrastructure Fund Variable Pricing Option Sahara Star Value Fund Dividend Option Re-Investment Option – Growth Option-Direct Sahara Star Value Fund Growth Option

Sahara Star Value Fund Dividend Option-Direct Payout Sahara Power & Sahara Star Value Fund Dividend Option-Direct Re-Investment Option Natural Resources Fund Dividend Option Payout Sahara Star Value Fund Growth Option-Direct Sahara Power & Natural Resources Fund Dividend Option Re-Investment Option Sahara Power & Sahara Wealth Plus Fund Variable Pricing Option Payout Natural Resources Fund Growth Option – Dividend Option Sahara Power & Sahara Wealth Plus Fund Variable Pricing Option Re-Investment Option Natural Resources Fund Dividend Option-Direct Payout – Dividend Option Sahara Power & Sahara Wealth Plus Fund Variable Pricing Option Natural Resources Fund Dividend Option-Direct Re-Investment Option – Growth Option Sahara Power & Sahara Wealth Plus Fund Variable Pricing Option Payout Natural Resources Fund Growth Option-Direct – Dividend Option – Direct Sahara Wealth Plus Fund Variable Pricing Option Re-Investment Option – Dividend Option- Direct Sahara Wealth Plus Fund Variable Pricing Option Sahara Banking & – Growth Option-Direct Financial Services Fund Dividend Option Payout Sahara Wealth Plus Fund Fixed Pricing Option Payout Sahara Banking & – Dividend Option Financial Services Fund Dividend Option Re-Investment Option Sahara Wealth Plus Fund Fixed Pricing Option Re-Investment Option Sahara Banking & – Dividend Option Financial Services Fund Growth Option Sahara Wealth Plus Fund Fixed Pricing Option Sahara Banking & – Growth Option Financial Services Fund Dividend Option-Direct Payout Sahara Wealth Plus Fund Fixed Pricing Option Payout Sahara Banking & – Dividend Option - Direct Financial Services Fund Dividend Option-Direct Re-Investment Option Sahara Wealth Plus Fund Fixed Pricing Option Re-Investment Option Sahara Banking & – Dividend Option - Direct Financial Services Fund Growth Option-Direct Sahara Wealth Plus Fund Fixed Pricing Option – Growth Option-Direct Sahara R.E.A.L Fund Dividend Option Payout Sahara R.E.A.L Fund Dividend Option Re-Investment Option Sahara Infrastructure Fund Variable Pricing Option Payout – Dividend Option Sahara R.E.A.L Fund Growth Option Sahara Infrastructure Fund Variable Pricing Option Re-Investment Option Sahara R.E.A.L Fund Dividend Option-Direct Payout – Dividend Option Sahara R.E.A.L Fund Dividend Option-Direct Re-Investment Option Sahara Infrastructure Fund Variable Pricing Option Sahara R.E.A.L Fund Growth Option-Direct – Growth Option

23 24