Mirae Asset Mutual Fund

Trustee: Mirae Asset Trustee Company Private Limited CIN: U65191MH2007FTC170231

Investment Manager: Mirae Asset Global Investments (India) Private Limited CIN: U65993MH2006FTC165663

Registered & Corporate Office:

Unit No.606, Windsor Building, Off. C.S.T Road, Kalina, Santacruz (East), Mumbai – 400098

Tel. No.: 022-678 00 300 Fax No.: 022- 6725 3940 – 47

Website: www.miraeassetmf.co.in E-mail: [email protected]

KEY INFORMATION MEMORANDUM Of Mirae Asset India Equity Fund Multi Cap Fund - An open-ended equity scheme investing across large cap, mid cap, small cap stocks

Continuous Offer for 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 etc. investors should, before investment, refer to the Scheme Information Document (SID) and Statement of Additional Information (SAI) available free of cost at any of the Investor Service Centres or distributors or from the website www.miraeassetmf.co.in

The Scheme particulars have been prepared in accordance with Securities and Exchange Board of India (Mutual Funds) Regulations 1996, as amended till date, and filed with Securities and Exchange Board of India (SEBI). The units being offered for public subscription have not been approved or disapproved by SEBI, nor has SEBI certified the accuracy or adequacy of this KIM.

Investment The investment objective of the scheme is to generate long term capital appreciation by Objective capitalizing on potential investment opportunities through predominantly investing in equities, equity related securities. The Scheme does not guarantee or assure any returns. Asset Indicative allocations Risk Instruments Allocation (% of total assets) Profile Pattern of the Minimum Maximum

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scheme Indian Equities and Equity Related 65 100 High Securities* Money market instruments/debt securities Instruments** Low to 0 35 (Including upto 25% of corpus in securitized Medium debt) * Equity and Equity related instruments include convertible debentures, equity warrants, convertible preference shares, equity derivatives etc. The scheme can invest upto 50% of Net Assets of Scheme into equity derivatives instruments.

** Debt instruments include securitized debt upto 25% of corpus.

Under current regulations, the fund managers will seek to invest more than 65% of corpus in equity shares of Indian/domestic companies and the balance portion of corpus in domestic debt and money market instruments in order to avail of the prevailing tax benefit of long term capital gains. However, investments in equity instruments are subjected to change in case of amendment in the tax laws subject to SEBI regulations.

Provided further and subject to the above, any change in the asset allocation pattern affecting the investment profile of the Scheme shall be effected only in accordance with the provisions of sub-regulation 15A of Regulation 18 of the SEBI (MF) Regulations.

The corpus of the Scheme shall be predominantly invested in equity and equity related securities including convertible debentures, equity warrants, convertible preference shares, equity derivatives etc. in Indian markets. However, due to market conditions, the AMC may invest beyond the range set out above. Such deviations shall normally be for a short term purpose only, for defensive considerations and the intention being at all times to protect the interests of the Unit Holders.

In the event of deviations, rebalancing will normally be carried out within 20 business days. Investments other than in equity will be made for managing liquidity in the normal market circumstances. The preferred instruments will be debt and money market instruments include commercial papers, commercial bills, treasury bills, Government securities, CBLO or notice money, certificate of deposit and any other like instruments as specified by Reserve Bank of India from time to time.

For the purpose of further diversification and liquidity, the Scheme may invest in other schemes managed by the same AMC or by the asset management company of any other mutual fund without charging any fees on such investments, provided that aggregate inter-scheme investment made in all schemes managed by the same AMC or in schemes managed by the AMC of any other mutual fund shall not exceed 5% of the net asset value of the Fund.

The Scheme may propose to invest in securitized debt upto the limit of 25% of corpus and does not propose to underwrite issuances of securities of other issuers.

The Scheme may invest upto 50% of net assets in various derivatives instruments including futures (index and stock), options (index and stock) and forward contracts that are available for investment in India and overseas from time to time and are permissible as per the applicable Regulations. Investment in derivative instruments will be made in accordance with the investment objective and the strategy of the Scheme to protect the value of the portfolio and to enhance returns. The investments shall also be subject to the internal limits as may be laid down from time to time and such limits and restrictions as may be prescribed by the regulations or any other regulatory body.

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Investment The investment strategies for the scheme are as follows: Strategy The Scheme aims to maximize the long term capital appreciation by finding investment opportunities resulting from Indian economic growth and its structural shifts through investing in equities, equities related securities with risk mitigating and controlling measures.

The fund manager may not have any bias towards particular theme, sector, market cap or style in picking investment opportunities. However, the fund manager may have the flexibility to follow a focused approach on the investments and may relatively aggressively manage the portfolio in comparison to diversified equity fund.

The fund manager broadly analyses the macro economy, industry trends and business cycles. He will invest in companies that benefit from macroeconomic, industry and sectoral trends (Top down Theme Overlay) after doing bottom up analysis and due diligence, quality of management in terms of corporate governance and commitment to minority shareholders etc. The Scheme may invest in equity derivatives instruments in accordance with applicable regulations to the extent upto 50% of Net Assets of the scheme for the purposes of portfolio hedging and portfolio balancing to optimize the returns. Hedging does not mean maximization of returns but only attempts to reduce risk that may be inherent in the investment. Risk Profile of Mutual Fund involve investment risks including the possible loss of principal. Please the Scheme read the SID / SAI carefully for details on risk factors before investment. The Scheme is subjected to risk factors associated with Equity, Foreign Securities, Debt and Money Market instruments, Securitized Debt, Derivatives and Unlisted Securities. Besides, the scheme is also subjected to Liquidity Risk, Settlement Risk & Regulatory Risk associated with Securities and Risk Factors associated with Securities Lending and Short selling as detailed in the SID. Risk Control a) Monitoring risk adjusted returns performance of the fund with respect to its peers and measures its benchmark. b) Monitoring the sectoral diversification of the fund to ensure that the fund is well diversified across various sectors to avoid any sectoral risk. c) Ensure that the fund is diversified across various stocks to avoid any stock specific risk. d) Tracking analysis of the fund on various risk parameters undertaken by independent fund research / rating agencies or analysts and take corrective measures if needed. Plans and The Scheme will have Regular Plan and Direct Plan** with a common portfolio and Options separate NAVs. Investors should indicate the Plan for which the subscription is made by indicating the choice in the application form.

Each of the above Regular and Direct Plan under the scheme will have the following Options / Sub-options: (1) Growth Option and (2) Dividend Option. The Dividend Option shall have 2 sub options: (a) Dividend Payout (b) Dividend Reinvestment.

Investors subscribing under Direct Plan of the Scheme will have to indicate “Direct Plan” against the Scheme name in the application form i.e. “Mirae Asset India Equity Fund - Direct Plan”. Treatment for investors based on the applications received is given in the table below: Scenario Broker Code Plan mentioned Default Plan mentioned by the by the investor to be captured investor 1 Not mentioned Not mentioned Direct Plan 2 Not mentioned Direct Direct Plan 3 Not mentioned Regular Direct Plan

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4 Mentioned Direct Direct Plan 5 Direct Not Mentioned Direct Plan 6 Direct Regular Direct Plan 7 Mentioned Regular Regular Plan 8 Mentioned Not Mentioned Regular Plan

In cases of wrong/ invalid/ incomplete ARN codes mentioned on the application form, the application shall be processed under Regular Plan. The AMC shall contact and obtain the correct ARN code within 30 calendar days of the receipt of the application form from the investor/ distributor. In case, the correct code is not received within 30 calendar days, the AMC shall reprocess the transaction under Direct Plan from the date of application without any exit load.

However, the investors should note the following instructions for ensuring that the application is treated as a direct application: 1. Broker code, if already printed on the forms must be struck off and countersigned by the investors. 2. Ensure that the broker code block in the form is not left blank (i.e. it should be either struck off or indicated 'direct' or NA)

However, if the investor does not specify the application as “Direct” or otherwise, then the AMC treats such application as “Direct” in the interest of the investors.

**DIRECT PLAN: Direct Plan is only for investors who purchase /subscribe Units in a Scheme directly with the Mutual Fund and is not available for investors who route their investments through a Distributor. Applicable In respect of valid Purchase (including Switch-in) (along with cheques/drafts/other NAV (after payment instruments)/ Redemption (including Switch-out) applications accepted at a the scheme Designated Collection Centre, the closing NAV of the day (or immediately following opens for Business Day if that day is not a Business Day) on which the funds are available for repurchase) utilization shall be applicable for application amount equal to or more than Rs.2 lakhs, irrespective of the time of receipt of such application.

In respect of valid Purchase (including Switch-in) (along with cheques/drafts/other payment instruments) /Redemption (including Switch-out) applications accepted at a Designated Collection Centre upto 3 p.m. on a Business Day, for application amount less than Rs.2 lakhs, the closing NAV of that day will be applicable.

Investors are requested to note that in case of multiple valid applications for Purchases/Switch-ins (either in Physical Form or in demat Form through Stock Exchange Mechanism) in any single Equity/Debt Scheme of Mirae Asset Mutual Fund (irrespective of its Plan/Option) for an aggregate investment amount equal to or more than Rs. 2 Lakh on the same business day, such applications shall be consolidated at Permanent Account Number (PAN) level irrespective of the number of folios to determine the total application amount of Rs. 2 Lakh and above.

Accordingly, the applicable NAV for all such Purchases/Switch-ins taken together shall be the closing NAV of the day on which funds are available for utilization, before the cut off time. In case the funds are received under the Scheme on separate days and are available for utilization on different business days before the cut off time, then the applicable NAV shall be the business day on which the cleared funds are available for the respective application amount.

The closing NAV of the day on which the funds are available for utilization shall be

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applied where the aggregated amount of investments is Rs. 2 lacs and above: a. All transactions received on the same day (as per Time stamp rule). b. Transactions shall include purchases, additional purchases, excluding Switches, SIP/STP/triggered transactions and various other eligible systematic transactions as mentioned in the para titled “Special Products” of respective SIDs. c. Aggregations shall be done on the basis of investor’s PAN. In case of joint holding, transactions with similar holding structures shall be aggregated. d. All transactions shall be aggregated where investor holding pattern is same as stated above, irrespective of whether the amount of the individual transaction is above or below Rs.2 lacs. e. Only transactions in the same scheme shall be clubbed. This will include transactions at plan/option level (Dividend, Growth and Direct). f. Transactions in the name of minor, received through guardian should not be aggregated with the transaction in the name of same guardian. Minimum Purchase Additional Purchase Repurchase Amount for Rs. 5,000/- and in Rs. 1000/- and in The minimum redemption amount Application multiples of Re. 1/- multiples of Re.1/- shall be ‘any amount’ or ‘any thereafter. thereafter. number of units’ as requested by the investor at the time of redemption request.

Dispatch of The redemption or repurchase proceeds shall be dispatched to the unitholders within 10 Repurchase working days from the date of redemption or repurchase. (Redemption) Request Benchmark S&P BSE 200 Index Dividend A dividend may be declared by the Trustee, at its discretion, from time to time (subject Policy to the availability of distributable surplus as calculated in accordance with the Regulations). Such dividends if declared will be paid under normal circumstances, only to those Unit holders who have opted for Dividend Option - Payout. There is no assurance or guarantee to unit holders as to the rate of dividend distribution nor will that dividend be regularly paid. If the Fund declares a dividend under the Scheme, AMC shall dispatch the dividend warrants within 30 days from the date of declaration of the dividend. Name of the The Scheme will be managed by Mr. Neelesh Surana and with effect from May 01, Fund 2017, Mr. Harshad Borawake shall also co-manage the scheme. Manager Name of the Mirae Asset Trustee Company Private Limited Trustee Company

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Scheme Performance Particulars Regular Plan – Direct Plan – Growth Growth option option Compounded Annualised Scheme Benchmark Scheme Benchmark Growth Returns (CAGR) returns Returns returns Returns (%) (%) (%) (%) Since Inception 16.88 9.32 20.40 12.97 Last 1 year 22.13 18.99 22.99 18.99 Last 3 years 12.56 7.70 13.43 7.70 Last 5 years 21.52 14.74 22.56 14.74 NAV as on 28/02/2018 46.93 - 49.04 -

Since Inception date of the Scheme: April 4, 2008; Direct Plan was introduce on January 01, 2013

Graph depicting absolute returns for past 5 years:

Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.

Note: As per the SEBI standards for performance reporting, the returns are calculated on Rs.10/- invested at inception. For this purpose the inception date is deemed to be the date of allotment. The calculations of returns shall assume reinvestment of all payouts at the then prevailing NAV. The absolute graph of Direct Plan is computed from the Date of Allotment/1st April, as the case maybe, to 31st March of the respective financial year. Expenses of a) Entry Load: Not Applicable the Scheme 1. Load The upfront commission on investment made by the investor, if any, will be paid to the Structure ARN Holder (AMFI registered Distributor), directly by the investor, based on the investor’s assessment of various factors including service rendered by the ARN Holder.

b) Exit Load: If redeemed within 1 year (365 days) from the date of allotment: 1.00%;

If redeemed after 1 year (365 days) from the date of allotment: NIL

2. Recur As per the regulations, the maximum recurring expenses including investment ring expenses management and advisory fee that can be charged to the scheme shall be subject to the percentage limit of weekly net assets as in the table below:

First Rs. 100 Next Rs. 300 Next Rs. 300 Balance crores crores crores 2.50% 2. 25% 2.00% 1.75%

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In addition to the recurring expenses specified for the Scheme(s), the following expenses may also be charged under the Scheme(s)- (a) Expenses in respect of inflows from beyond top 30 cities - a maximum charge of 0.30% on the daily net assets computed as per the guidelines issued by SEBI for meeting distribution expenses incurred for bringing inflows from such cities; (b) Expenses not exceeding 0.20% p.a. of daily net assets towards Investment Management and Advisory Fees and the various sub-heads of recurring expenses mentioned under Regulation 52 (2) and (4) of SEBI (MF) Regulations respectively; (c) Brokerage and transaction costs not exceeding 0.12% of the value of trades in case of cash market transactions and 0.05% of the value of trades in case of derivatives transactions; and (d) Service Tax on Investment Management and Advisory Fees.

Actual expenses for the financial year 2016-17, inclusive of Service Tax : Regular Plan: 2.35% Direct Plan: 1.59% Waiver of Not Applicable. Load for Direct Applications Tax treatment Investors are advised to refer to the paragraph on Taxation in the “Statement of for the Additional Information” or “Scheme Information Document” and to consult their own Investors unit holder's tax advisors with respect to the specific amount of tax and other (Unitholders) implications arising out of their participation in the scheme. Daily Net The NAV will be declared on all business days and will be published in at least 2 Asset Value newspapers. NAV can also be viewed on www.miraeassetmf.co.in and (NAV) www.amfiindia.com. Investors can also call us on “1800 2090 777” (toll-free from a Publication MTNL / BSNL landline) to know the latest NAV. For Investor Mr. Girish Dhanani Grievances Mirae Asset Mutual Fund please contact 606, 6th Floor, Windsor Bldg, Off CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Telephone Nos.: 6780 0300 / 25 e-mail: [email protected] Investors are advised to contact any of the ISCs or the AMC by calling the investor line of the AMC at "1800 2090 777 " (toll-free from a MTNL / BSNL landline) for any queries. Investors can also visit the website at www.miraeassetmf.co.in, for complete details. Unitholders’ nfirmation specifying the units allotted shall be sent by way of email Information and/or SMS within 5 Business Days of receipt of valid application/transaction to the Unit holders registered e-mail address and/or mobile number. atement (CAS), generated based on PAN, containing details relating to all the transactions carried out by the investor across all schemes of all mutual funds during the month and holding at the end of the month shall be sent to the Unit holder in whose folio transactions have taken place during that month, on or before 10th of the succeeding month by mail/email. -availability of PAN, AMC will send monthly account statement for any financial transactions undertaken during the month on or before 10th day of the succeeding month by mail/email. ders, the AMC/Fund will provide an account statement (reflecting transactions of the Fund) to the investors within 5 Business Days from the receipt of such request by mail/email. ling the AMC/ISC/R&T. The Mutual Fund/ AMC shall dispatch an account statement within 5

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Business Days from the date of the receipt of request from the Unit holder.

of every six months (i.e. September/ March), shall be sent by mail/e-mail on or before 10th day of succeeding month, to all such Unit holders in whose folios no transaction has taken place during that period. The half yearly consolidated account statement will be sent by e-mail to the Unit holders whose email address is available, unless a specific request is made to receive in physical form.

shown in the statement issued by respective Depository Participants (DPs) periodically. For more details, please refer the Scheme Information Document (SID) and Statement of Additional Information (SAI).

Monthly Portfolio Disclosures: Portfolio of the Scheme(s) as on the last day of the month shall be disclosed on or before the tenth day of the succeeding month on the website of the Mutual Fund viz. www.miraeassetmf.co.in in the prescribed format.

Half Yearly Portfolio Disclosure: Full portfolio in the prescribed format shall be disclosed either by publishing it in one national English daily newspaper circulating in the whole of India and in a newspaper published in the language of the region where the Head Office of the Mutual Fund is situated or by sending it to the Unit Holders within one month from the end of each half-year, that is as on March 31 and September 30. It is also displayed on the website of the Mutual Fund on www.miraeassetmf.co.in and Association of Mutual Funds in India (AMFI) on www.amfiindia.com

Half Yearly Unaudited Financial Results: Half yearly Unaudited Financial Results shall be hosted in the prescribed format on the website of the Mutual Fund on www.miraeassetmf.co.in within one month from the close of each half year i.e. on March 31 and on September 30 and an advertisement in this regard shall be published in at least one English daily newspaper having nationwide circulation and in a newspaper having wide circulation published in the language of the region where the Head Office of the Mutual Fund is situated. A link for the half yearly Unaudited Financial Results shall also be provided on website of Association of Mutual Funds in India (AMFI) on www.amfiindia.com

Annual Financial Results: The Scheme wise annual report or an abridged summary thereof shall be sent: (i) by e-mail to the Unit holders whose e-mail address is available with the Fund, (ii) in physical form to the Unit holders whose email address is not registered with the Fund and/or those Unit holders who have opted / requested for the same.

The scheme wise annual report or an abridged summary thereof shall be sent by mail/e-mail not later than four months from the date of closure of the relevant accounting year (i.e. 31st March each year).

The physical copy of the scheme wise annual report or abridged summary thereof shall be made available to the investors at the registered office of the AMC.

A link of the scheme annual report or abridged summary thereof shall be displayed prominently on the website of the Fund and shall also be displayed on the website of Association of Mutual Funds in India (AMFI).

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Additional Disclosures: a. Details as per SEBI circular no. SEBI/HO/IMD/DF2/CIR/P/2016/42 dated March 18, 2016

Sr. Particulars Details Details (with effect from May No. 01, 2017) i. Name Mr. Neelesh Surana Mr. Harshad Borawake ii. Age 45 years 36 Years iii. Qualification B.E. (Mechanical), MBA (Finance) MBA (Finance), B.E. (Polymers) iv. Last 10 Mr. Neelesh Surana is Head of Equities at Mr. Borawake has professional years’ Mirae Asset Global Investments (India) experience of more than 12 years experience Pvt. Ltd. He joined Mirae Asset in 2008. and his primary responsibility In his capacity as Head of Equities, includes Investment Analysis & Neelesh spearheads the equity research Research. Prior to this assignment, and investment function. He is he was associated with Motilal responsible for the managing existing Oswal Securities as Vice President equity funds of Mirae Asset (India), as (Research). He has also been well as, providing research support for the associated with Capmetrics & Risk global mandate. Following others Solutions as Research Analyst – Schemes of the Fund are managed or co- Equity. managed by him: i. Mirae Asset India Equity Fund ii. Mirae Asset Hybrid-Equity Fund (Equity Portion) iii. Mirae Asset Tax Saver Fund (Equity Portion) iv. Mirae Asset Emerging Bluchip Fund

An engineering graduate with MBA in Finance, Neelesh has over 18 years of experience in equity research and portfolio management. Prior to Mirae, Neelesh was with ASK Investment Managers Ltd., as Senior Portfolio Manager responsible for managing domestic and international portfolios. v. Tenure for 9 years (since May, 2008) He shall co-manage the fund from which the May 01, 2017. fund manager has been managing the scheme vi. Scheme’s 0.36 times as on February 28, 2018 portfolio turnover ratio

Portfolio of the Schemes as on February 28, 2018:

Top 10 holdings of the Scheme:

Holding as on February 28, Industry/Rating Market Value % 2018 (Rs. In Lakhs) EQUITY HOLDINGS HDFC Bank Limited Banks 58,396.75 0.09

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Holding as on February 28, Industry/Rating Market Value % 2018 (Rs. In Lakhs) Infosys Limited Software 36,882.55 0.05 ICICI Bank Limited Banks 35,477.18 0.05 Housing Development Finance 29,088.83 0.04 Finance Corporation Limited Larsen & Toubro Limited Construction Project 27,010.75 0.04 State Bank of India Banks 23,190.75 0.03 Reliance Industries Limited Petroleum Products 22,394.07 0.03 ITC Limited Consumer Non Durables 22,095.71 0.03 Grasim Industries Limited Cement 21,442.25 0.03 Kotak Mahindra Bank Banks 20,451.84 0.03 Limited Other Equity 368,986.07 0.54 Total Equity 665,416.74 0.98 MUTUAL FUND UNITS Mirae Asset Cash Others 1,554.46 0.00 Management Fund - DIRECT GROWTH MUTUAL FUND UNITS 1,554.46 0.00 TOTAL CASH & OTHER RECEIVABLES CBLO / Repo 8,420.91 0.01 Net Receivalbes/(Payables) 3,133.77 0.00 CASH & OTHER 11,554.68 0.02 RECEIVABLES Total Grand Total 678,525.87 1.00

Top 10 Sector-wise allocation of holdings of the Scheme:

Industry Allocation (Domestic Equities) % Weightage Banks 27.27% Software 9.43% Consumer Non Durables 8.58% Auto 7.30% Finance 6.59% Construction Project 5.20% Petroleum Products 5.10% Pharmaceuticals 3.92% Cement 3.68% Gas 2.78% Others 18.23% Total 98.07%

For complete details of the portfolio refer: https://www.miraeassetmf.co.in/downloads/portfolios

Date: March 15, 2018

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