This document is a common application form for various JPMorgan Mutual Fund schemes. It provides details of 8 open-ended equity, debt, and fund of funds schemes offered by JPMorgan Asset Management along with application instructions. The schemes invest in Indian and overseas equities, bonds, and money market instruments. JPMorgan Asset Management (Asia) Inc. is the sponsor and JPMorgan Asset Management India Private Limited is the asset management company.

1. Common Application Form
Common Key Information Memorandum and Application Form
Continuous offer of Units of R 10 per Unit at Net Asset Value (NAV) based prices, subject to applicable load thereafter.
Scheme names:
JPMorgan India Equity Fund (an open-ended equity growth scheme)
JPMorgan India Liquid Fund (an open-ended liquid scheme)
JPMorgan India Treasury Fund (an open ended income scheme)
JPMorgan India Smaller Companies Fund (an open-ended equity growth scheme)
JPMorgan India Active Bond Fund (an open-ended income scheme)
JPMorgan India Tax Advantage Fund (an open-ended equity linked savings scheme)
JPMorgan JF Greater China Equity Off-shore Fund (an open ended fund of funds scheme)
JPMorgan India Short Term Income Fund (an open ended Income scheme)
JPMorgan Emerging Europe, Middle East and Africa Equity-Off-shore Fund (an open ended fund of funds scheme)
Sponsor: JPMorgan Asset Management (Asia) Inc.
Correspondence Office: 21/F, Chater House, 8 Connaught Place Central, Hong Kong.
Trustee: JPMorgan Mutual Fund India Private Limited,
Registered Office: J. P. Morgan Tower, Off C.S.T. Road, Kalina, Santacruz - East, Mumbai - 400 098.
Asset Management Company: JPMorgan Asset Management India Private Limited,
Registered Office: J. P. Morgan Tower, Off C.S.T. Road, Kalina, Santacruz - East, Mumbai - 400 098.
Asset Managers to JPMorgan Mutual Fund
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.jpmorganmf.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
have been filed with the 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.
This memorandum is dated : April 25, 2011.

2. TABLE OF CONTENTS
Page No.
JPMorgan India Equity Fund .............................................................................................................................................................................. 1
JPMorgan India Liquid Fund .............................................................................................................................................................................. 3
JPMorgan India Treasury Fund .......................................................................................................................................................................... 6
JPMorgan India Smaller Companies Fund ........................................................................................................................................................ 8
JPMorgan India Active Bond Fund .................................................................................................................................................................... 11
JPMorgan India Tax Advantage Fund ................................................................................................................................................................ 13
JPMorgan JF Greater China Equity Off-shore Fund .......................................................................................................................................... 16
JPMorgan India Short Term Income Fund ........................................................................................................................................................ 18
JPMorgan Emerging Europe, Middle East and Africa Equity Off-shore Fund ................................................................................................ 21
Comparison Between the Schemes ................................................................................................................................................................... 24
Common Features for all Schemes ................................................................................................................................................................... 26
Instructions & Notes ........................................................................................................................................................................................... 32
Common Application Form ................................................................................................................................................................................ 35
ECS Registration Cum Mandate Application Form ........................................................................................................................................... 37
STP / SWP Enrolment Form ............................................................................................................................................................................... 39
Form for Nomination / Cancellation of Nomination ........................................................................................................................................ 41
Multiple Bank Accounts Registration Form ...................................................................................................................................................... 43
48

3. JPMORGAN INDIA EQUITY FUND Risk and Description Risk Mitigants / Management Strategy
specific to Equities#
NAME OF THE SCHEME understanding of the business is arrived at,
JPMorgan India Equity Fund. enabling the identification of future long-term
winners at an early stage.
TYPE OF SCHEME Concentration Risk Portfolio construction is the responsibility of the
An open-ended equity growth scheme. investment manager assigned to each fund.
INVESTMENT OBJECTIVE There are three objectives to the portfolio
The investment objective of the Scheme is to generate income and long-term construction process:
capital growth from a diversified portfolio of predominantly equity and equity- (i) to capture and preserve value from all the best
related securities including equity derivatives. ideas by country specialists;
However, there can be no assurance that the investment objective of the (ii) to ensure no single decision will derail
Scheme will be realised. performance; and
(iii) to deliver in line with the fund's risk/return
ASSET ALLOCATION PATTERN profiles.
Under normal circumstances, it is anticipated that the asset allocation shall Portfolios are constructed using a disciplined
be as follows: and tailored approach, and there is a high
degree of commonality across accounts with
Instrument Normal allocation Risk
similar objectives and profiles. During the
(% of net assets) profile
process, the investment manager assigns a
Equity and equity related securities* 65 - 100% Medium to High target percentage weight based upon
variations, positive or negative, from the
Debt and money market instruments 0 - 35% Low to Medium predetermined fund benchmark weight.
* Includes investments in equity and equity related securities issued by Investment managers may also incorporate
domestic companies; including derivatives traded on the Futures and their own views on individual stocks and
Options segment of Indian stock exchanges not exceeding 50% of the net exercise discretion to align with the above
assets of the Scheme, offshore securities, ADRs and GDRs not exceeding guidelines with the objective that is likely to
10% of the net assets of the Scheme as on March 31 of each relevant year. be achieved by inclusion of the stock in a fund
Investment in securitised debt may be made to the extent of 20% of net portfolio. The investment manager will also
assets of the Scheme. reconcile any other anomalies between the
stock rankings and portfolio requirements with
RISK MITIGATION FACTORS the overall objective of adding value to the fund
Risk and Description Risk Mitigants / Management Strategy portfolio.
specific to Equities# The Risk Management / Middle Office oversees
investment managers to ensure compliance with
Quality Risk The stock selection process is an important part the fund's internal requirements. The buy / sell
Risk of investing in of the idea generation stage, as it provides the decisions generated at the portfolio construction
unsustainable / weak greater part of added value to the investments. stage of the process are automatically checked
companies Underpinning the stock selection process is the against fund guidelines, and electronically
rigorous research conducted by dedicated forwarded to the trading team for execution.
specialists. The approach to stock selection is
largely specific, which means that these investment Liquidity Risk Dealing in volatile, often illiquid markets imposes
professionals have the responsibility to design and High impact costs a cost on an active investment manager. The
refine their stock selection process to cope with responsibility for minimizing the performance drag
the dynamic local factors and market conditions. lies with the Dealing team whose focus is to
Quality analysis based investment approach: minimize market impact and transaction costs. The
(i) Management competitive advantages in achieving this objective
are:
(ii) Capital structure
(i) An experienced team.
(iii) Sustainability of competitive advantage (ii) State of the art systems and on-going
(iv) Return on equity investment in trading technology.
(v) Industry attractiveness (iii) Analysis of historical transactions and
In general, there are three primary sources of associated impact costs used to determine
investment return which the investment trading strategies.
professionals normally focus on and they form the (iv) Low commission rates paid to brokers, reducing
basic premise of the stock selection process: direct costs per trade.
(i) Growth - companies that exhibit sustainable (v) Significant overall commission payout ensuring
earnings growth in excess of the market premium service from investment banks and
through an economic cycle; brokerage firms.
(ii) Valuations - quantitative analysis in evaluating The success of the dealing team can be measured
the value and profitability of the company; by comparing each execution to the Volume
(iii) Dividend yield - an additional source of return, Weighted Average Price (VWAP) and on-line
over and above capital appreciation. through the independent Best Execution
Comparison Service (BECS) which compares
Price Risk During company visits, qualitative assessments of transaction costs with those of the competition.
Risk of overpaying for the relative growth prospects of the companies Effectiveness of the dealing team is measured on
a company concerned are made and strategies are decided to an ongoing basis.
create shareholder value. Industries in which
Volatility As explained above, the volatility arising out of
companies operate are analysed along with the
Price volatility due to portfolio specific factors are being mitigated using
competitive landscape as well as the management
company or portfolio a combination of various methods as explained
strategy to enhance competitive advantage and
specific factors above.
returns. As part of the process, meetings are
organised not only with companies that fall within Event Risk As explained above, the volatility arising out of
the core stock coverage, but also with their Price volatility due to portfolio specific factors are being mitigated using
competitors, distributors, suppliers and other company or portfolio a combination of various methods as explained
stakeholders in order to obtain a complete picture specific events above.
of the industry/company and other investment
opportunities. In the process, a clear # Includes equity and equity related securities.
1

4. RISK PROFILE OF THE SCHEME be treated as delivery to the investor. The AMC / Registrar are not responsible
Mutual Fund Units involve investment risks including the possible loss of for any delayed delivery or non-delivery or any consequences thereof, if the
principal. Please read the SID carefully for details on risk factors before despatch has been made correctly as stated in this paragraph.
investment. Standard and Scheme Specific Risk Factors are summarized at
the end of this document. BENCHMARK FOR PERFORMANCE COMPARISON
BSE-200 index.
PLANS AND OPTIONS
The Scheme offers two options - growth option and dividend option. The DIVIDEND POLICY
dividend option offers dividend payout and dividend reinvestment. Under the The Trustee may decide to distribute by way of dividend, the surplus by way of
growth option, no dividend will be declared. Under the dividend option, a realised profit, dividends and interest, net of losses, expenses and taxes, if
dividend may be declared by the Trustee, at its discretion, from time to time any, to Unit Holders in the dividend option of the Scheme if such surplus is
(subject to the availability of distributable surplus as calculated in accordance available and adequate for distribution in the opinion of the Trustee. The
with the Regulations). If the investor does not clearly specify the choice of Trustee’s decision with regard to availability and adequacy, rate, timing and
option at the time of investing, it will be treated as a growth option. frequency of distribution shall be final. The dividend will be due to only those
If the investor does not clearly specify the choice of dividend payout or Unit Holders whose names appear in the register of Unit Holders in the dividend
reinvestment options within the dividend option, he will be treated as having option of the Scheme on the record date which will be announced in advance
selected the reinvestment option. in accordance with MF Regulations. The Unit Holders have the option of
receiving the dividend or reinvesting the same. The dividend will be reinvested
APPLICABLE NAV at the Applicable NAV of the immediately following Business Day.
The Cut-off time for the Scheme is 3 pm, and the Applicable NAV will be as The AMC shall dispatch to the Unit Holders, the dividend warrants within 30
under: (thirty) days of the date of declaration of dividend. The dividend distribution
For Purchase / Redemption procedure shall be in accordance with the Regulations.
(a) In respect of valid Purchase / Redemption applications along with cheques /
demand drafts / other payment instruments accepted at a Designated NAME OF THE FUND MANAGER(S)
Collection Centre up to 3.00 pm on a Business Day, the NAV of such day For Equity : Mr. Harshad Patwardhan & Mr. Amit Gadgil
will be applicable. For Debt : Mr. Nandkumar Surti & Mr. Namdev Chougule
(b) In respect of valid Purchase / Redemption applications along with cheques /
demand drafts / other payment instruments accepted at a Designated PERFORMANCE OF THE SCHEME
Collection Centre after 3.00 pm on a Business Day, the NAV of the next Scheme Returns as on 31st March, 2011
Business Day will be applicable. Scheme returns (%) BSE 200 (%)
The above will be applicable only for cheques / demand drafts / payment
instruments payable locally in the city in which a Designated Collection Centre Since inception 8.26% 8.75%
is located. No outstation cheques will be accepted. 1 year 14.42% 8.15%
For Switches 3 year 7.39% 7.17%
Valid applications for 'switch-out' shall be treated as applications for Absolute returns for each financial year for the last 4 years
Redemption and valid applications for 'switch-in' shall be treated as Scheme returns BSE 200
applications for Purchase, and the provisions of the Cut-off time and the 120.00% – *11.73%
*9.15% 92.87%
Applicable NAV mentioned in the Offer Document as applicable to Purchase 90.00% – 83.19%
and Redemption shall be applied respectively to the 'switch-in' and 'switch-
60.00% –
out' applications.
30.00% – 14.42% 8.15%
MINIMUM APPLICATION AMOUNT / NUMBER OF UNITS 0.00% –
-40.92% -40.98%
Minimum initial R 5,000 per application and in -30.00% –
application amount multiples of R 1/- thereof.
-60.00% – 2007-08 2008-09 2009-10 2010-11
Minimum additional R 1,000 per application and in multiples Financial Years
application amount of R 1/- thereof
Note: CAGR are given for more than one year. Absolute returns of the growth
Minimum redemption / R 1,000 or 100 Units. (The minimum amount option are computed for a period of less than one year. "Since inception"
no. of Units balance after Redemption should be R 500. returns are calculated on R 10 invested at inception.
In case the balance falls below R 500 the Past performance may or may not be sustained in future. All calculations
units will be automatically redeemed along assume that all payouts during the period have been re-invested in the units
with the last redemption request.) of the scheme.
*Allotment date: 14 June, 2007
DESPATCH OF REPURCHASE (REDEMPTION) REQUEST
Redemption proceeds will be paid by cheques, marked “A/c Payee only” and EXPENSES OF THE SCHEME
drawn in the name of the sole holder / first-named holder (as determined by As per the Regulations, the following fees and expenses can be charged to the
the records of the Registrar). Scheme:
The Mutual Fund will endeavour to despatch the Redemption proceeds within
3 Business Days from the acceptance of the Redemption request, but not 1. Initial issue expenses
beyond 10 Business Days from the date of Redemption. If the payment is not No initial issue expenses were charged to the scheme.
made within the period stipulated in the Regulations, the Unit Holder shall be 2. Recurring expenses
paid interest @ 15% p.a. for the delayed period and the interest shall be borne These are the fees and expenses for operating the Scheme. These expenses
by the AMC. include investment management and advisory fee charged by the AMC, the
The bank name and bank account number, as specified in the Registrar’s Registrar and Transfer Agents’ fee, marketing and selling costs etc. as given in
records, will be mentioned in the cheque. The cheque will be payable at par at the table below:
all the cities having ISCs. If the Unit Holder resides in any other city, he will be The AMC has estimated that upto 2.50% of the daily average net assets of the
paid by a demand draft payable at the city of his residence and the demand Scheme will be charged to the Scheme as expenses. For the actual current
draft charges shall be borne by the AMC. The proceeds may be paid by way of expenses being charged, the investor should refer to the website of the Mutual
direct credit / NEFT / RTGS / any other manner through which the investor’s Fund (www.jpmorganmf.com).
bank account specified in the Registrar’s records may be credited with the
Redemption proceeds. Nature of expense % of net assets
Investment management & advisory fees 1.250
Note: The Trustee, at its discretion at a later date, may choose to alter or add
other modes of payment. Custodian fees 0.100
The Redemption proceeds will be sent by courier or (if the addressee city is Registrar & transfer agent fees including 0.150
not serviced by the courier) by registered post. The despatch for the purpose cost related to providing account statement,
of delivery through the courier / postal department, as the case may be, shall dividend/redemption cheques/warrants etc.
2

5. Nature of expense % of net assets All Exit Loads are intended to enable the AMC to recover expenses incurred
for promotion or distribution and sale of the Units of the Scheme. All Loads
Marketing & selling expenses including will be retained in the Scheme in a separate account and will be utilised to
agent’s commission and statutory advertisement meet the distribution and marketing expenses. Any surplus amounts in this
0.505
Brokerage and transaction cost pertaining to account may be credited to the Scheme whenever considered appropriate by
the distribution of units the AMC.
Audit fees/fees and expenses of the Trustee 0.065
DAILY NET ASSET VALUE (NAV) PUBLICATION
Costs related to investor communications 0.040 The Mutual Fund shall declare the NAV of the Scheme on every Business Day
on AMFI’s website www.amfiindia.com by 9.00 p.m. and also on its own website
Costs of fund transfer from location to location 0.010
www.jpmorganmf.com. In case of any delay, the reasons for such delay would
Other Expenses* 0.380 be explained to AMFI. If the NAVs are not available before commencement of
business hours on the following Business Day due to any reason, the Mutual
Total Annual Scheme Recurring Expenses 2.500 Fund shall issue a press release providing reasons and explaining when the
*Other expenses: Any other expenses which are directly attributable to the Mutual Fund would be able to publish the NAVs.
Scheme may be charged with approval of the Trustee within the overall limits
as specified in the Regulation 52(6) except those expenses which are specifically
prohibited. JPMORGAN INDIA LIQUID FUND
These estimates have been made in good faith as per the information available
to the AMC based on past experience and are subject to change inter-se. Types NAME OF THE SCHEME
of expenses charged shall be as per the SEBI (MF) Regulations. JPMorgan India Liquid Fund.
The AMC may incur actual expenses which may be more or less than those
estimated above, under any head and / or in total. The AMC will charge the TYPE OF SCHEME
Scheme such actual expenses incurred, subject to the statutory limit prescribed An open-ended liquid scheme.
in the Regulations, the current limits of which are given below:
Maximum recurring expenses: INVESTMENT OBJECTIVE
The investment objective of the Scheme is to provide reasonable returns,
Daily average net assets Maximum, as a % of commensurate with low risk while providing a high level of liquidity, through
daily average net assets a portfolio of money market and debt securities. However there can be no
First R 100 crores 2.50% assurance that the investment objectives of the Scheme will be realized.
Next R 300 crores 2.25%
Next R 300 crores 2.00% ASSET ALLOCATION PATTERN
Balance assets 1.75% Under normal circumstances it is anticipated that the asset allocation shall be
as follows:
Maximum investment management fee to be charged by the AMC:
For both Plans (Retail Plan & Super Institutional Plan) w.e.f. May 1, 2009
Daily average net assets Maximum, as a % of
daily average net assets Investments Normal asset allocation Risk
(% of net assets) profile
First R 100 crores 1.25%
Balance assets 1.00% Money market instruments Up to 100% Low
(including cash and reverse repo
Any excess over these limits will be borne by the AMC. and debt instruments with maturity
Recurring expenses (Actual expenses for the financial year ending): up to 91 days)*
Particulars March Securitised debt instruments Up to 30% Low
2011 with maturity up to 91 days
Total Recurring expenses as a percentage 2.26% *Investment in Derivatives - Up to 10% of the net asset of the Scheme
of Daily / Weekly average net assets
RISK MITIGATION FACTORS
LOAD STRUCTURE OF THE SCHEME Concentration Risk Portfolio construction is the responsibility of the
1. Entry Load: investment manager assigned to each fund.
NIL There are three objectives to the portfolio
2. Exit Load: construction process:
(i) to capture and preserve value from all the best
For redemption Exit Load
ideas by country specialists;
(% of applicable NAV)
(ii) to ensure no single decision will derail
Within 12 months from the date of 1.00% performance; and
allotment in respect of Purchase made (iii) to deliver in line with the fund's risk/return
other than through SIP profiles.
Within 12 months from the date of 1.00% Portfolios are constructed using a disciplined
allotment in respect of the first and tailored approach, and there is a high
Purchase made through SIP degree of commonality across accounts with
similar objectives and profiles. During the
A switch-out or a withdrawal under SWP shall also attract an Exit Load like any process, the investment manager assigns a
Redemption. target percentage weight based upon
No load for units allotted under dividend reinvestment option. variations, positive or negative, from the
predetermined fund benchmark weight.
No Exit Loads will be chargeable in case of switches made between different
Investment managers may also incorporate
options of the Scheme.
their own views on individual security and
Subject to the Regulations, the Trustee retains the right to change / impose exercise discretion to align with the above
an Exit Load. guidelines with the objective that is likely to
To know the latest position on Loads structure prior to investing / be achieved by inclusion of the security in a
redemption, investors are advised to contact any of the ISCs or the AMC at fund portfolio. The investment manager will
its toll-free number "1-800-22-5763". also reconcile any other anomalies between the
security rankings and portfolio requirements
The investor is requested to check the prevailing load structure of the Scheme with the overall objective of adding value to
before investing. the fund portfolio.
3

6. The Risk Management / Middle Office oversees For allotment of units in respect of switch-in to the Scheme from other
investment managers to ensure compliance with schemes, the following needs to be complied with:
the fund's internal requirements. i. Application for switch-in is received before the applicable cut-off time.
Liquidity Risk Dealing in volatile, often illiquid markets imposes ii. Funds for the entire amount of Subscription/Purchase as per the switch-
High impact costs a cost on an active investment manager. The in request are credited to the bank account of the switch-in Scheme before
responsibility for minimizing the performance drag the cut-off time.
lies with the Dealing team whose focus is to
iii. The funds are available for utilization before the cut-off time without
minimize market impact and transaction costs. The
availing any credit facility whether intra-day or otherwise, by the switch-
competitive advantages in achieving this objective
in Scheme.
are:
The above will be applicable only for cheques / demand drafts / payment
(i) An experienced team.
instruments payable locally in the city in which a Designated Collection Centre
(ii) State of the art systems and on-going
is located. No outstation cheques will be accepted.
investment in trading technology.
(iii) Analysis of historical transactions and For Redemption under both the Plans
associated impact costs used to determine (a) where the application is received upto 3.00 p.m. - the closing NAV of the
trading strategies. day immediately preceding the next Business Day ; and
(iv) Low commission rates paid to brokers, reducing (b) where the application is received after 3.00 p.m. - the closing NAV of the
direct costs per trade. next Business Day.
(v) Significant overall commission payout ensuring
premium service from investment banks and Note: In case the application is received on a Non-Business Day, it will be
brokerage firms. considered as if received on the Next Business Day.
Effectiveness of the dealing team is measured on For Switches
an ongoing basis. Valid applications for ‘switch-out’ shall be treated as applications for
Redemption and valid applications for ‘switch-in’ shall be treated as
Volatility As explained above, the volatility arising out of
applications for Purchase, and the provisions of the Cut-off time and the
Price volatility due to portfolio specific factors are being mitigated using
Applicable NAV mentioned in this SID as applicable to Purchase and
company or portfolio a combination of various methods as explained
Redemption shall be applied respectively to the ‘switch-in’ and ‘switch-out’
specific factors above.
applications.
RISK PROFILE OF THE SCHEME MINIMUM APPLICATION AMOUNT / NUMBER OF UNITS
Mutual Fund Units involve investment risks including the possible loss of Retail Plan Super
principal. Please read the SID carefully for details on risk factors before Institutional Plan
investment. Standard and Scheme Specific Risk Factors are summarized at
the end of this document. Minimum initial R 5,000 per R 1 Crore per
application amount application and in application and in
PLANS & OPTIONS multiples of R 1 multiples of R 1
thereafter. thereafter.
The Scheme has two plans: Retail Plan and Super Institutional Plan.
Retail Plan: Minimum additional R 1,000 per R 1 per application
application amount application and in and in multiples of
Growth: Under the growth option no dividend will be declared. multiples of R 1 thereafter
Dividend: The dividend option offers daily, weekly, fortnightly and monthly R 1 thereafter
dividend reinvestment options. Minimum redemption R 5,000 or R 5,000 or
Super Institutional Plan: amount / no. of Units 500 Units 500 Units
Growth: Under the growth option no dividend will be declared. DESPATCH OF REPURCHASE (REDEMPTION) REQUEST
Dividend: The dividend option offers daily, weekly, fortnightly and monthly Redemption proceeds will be paid by cheques, marked “A/c Payee only” and
dividend reinvestment options. drawn in the name of the sole holder / first-named holder (as determined by
Under the Super Institutional Plan, the dividend option will also offer weekly, the records of the Registrar).
fortnightly and monthly payout. The Mutual Fund will endeavour to despatch the Redemption proceeds within
Under the dividend option, a dividend may be declared by the Trustee, at its 1 Business Day from the acceptance of the Redemption request, but not beyond
discretion, from time to time (subject to the availability of distributable surplus 10 Business Days from the date of Redemption. If the payment is not made
as calculated in accordance with the Regulations). within the period stipulated in the Regulations, the Unit Holder shall be paid
interest @ 15% p.a. for the delayed period and the interest shall be borne by
APPLICABLE NAV the AMC.
For Purchase under both the Plans The bank name and bank account number, as specified in the Registrar’s
i. where the application is received upto 2.00 p.m. on a day and funds are records, will be mentioned in the cheque. The cheque will be payable at par at
available for utilization before the cut-off time without availing any credit all the cities having ISCs. If the Unit Holder resides in any other city, he will be
facility, whether, intra-day or otherwise – the closing NAV of the day paid by a demand draft payable at the city of his residence and the demand
immediately preceding the day of receipt of application; draft charges shall be borne by the AMC. The proceeds may be paid by way of
ii. where the application is received after 2.00 p.m. on a day and funds are direct credit / NEFT / RTGS / any other manner through which the investor’s
available for utilization on the same day without availing any credit facility, bank account specified in the Registrar’s records may be credited with the
whether, intra-day or otherwise – the closing NAV of the day immediately Redemption proceeds.
preceding the next business day; and Note: The Trustee, at its discretion at a later date, may choose to alter or add
iii. irrespective of the time of receipt of application, where the funds are not other modes of payment.
available for utilization before the cut-off time without availing any credit The Redemption proceeds will be sent by courier or (if the addressee city is
facility, whether, intra-day or otherwise – the closing NAV of the day not serviced by the courier) by registered post. The despatch for the purpose
immediately preceding the day on which the funds are available for of delivery through the courier / postal department, as the case may be, shall
utilization. be treated as delivery to the investor. The AMC / Registrar are not responsible
For allotment of Units in respect of Purchase in the Scheme, the for any delayed delivery or non-delivery or any consequences thereof, if the
following needs to be complied with: despatch has been made correctly as stated in this paragraph.
i. Application is received before the applicable cut-off time.
BENCHMARK FOR PERFORMANCE COMPARISON
ii. Funds for the entire amount of Subscription/Purchase as per the
CRISIL Liquid Fund Index.
application are credited to the bank account of the Scheme before the
cut-off time.
DIVIDEND POLICY
iii. The funds are available for utilization before the cut-off time without The Trustee may decide to distribute by way of dividend, the surplus by way of
availing any credit facility whether intra-day or otherwise, by the Scheme. realised profit, dividends and interest, net of losses, expenses and taxes, if
4

7. any, to Unit Holders in the dividend option of the Scheme if such surplus is Nature of expense % of net assets
available and adequate for distribution in the opinion of the Trustee. The
Trustee’s decision with regard to availability and adequacy, rate, timing and Retail Super
frequency of distribution shall be final. The dividend will be due to only those Plan Institutional Plan
Unit Holders whose names appear in the register of Unit Holders in the dividend
option of the Scheme on the record date which will be announced in advance Costs of fund transfer 0.005 0.005
in accordance with MF Regulations. The Unit Holders have the option of Service tax 0.033 0.033
receiving the dividend or reinvesting the same. The dividend will be reinvested
at the Applicable NAV of the immediately following Business Day. The AMC Other operating expenses* 0.089 0.049
shall dispatch to the Unit Holders, the dividend warrants within 30 (thirty) Total annual scheme recurring expenses 0.800 0.500
days of the date of declaration of dividend. The dividend distribution procedure
shall be in accordance with the Regulations. * Other expenses: Any other expenses which are directly attributable to the
Scheme may be charged with approval of the Trustee within the overall limits
NAME OF THE FUND MANAGER(S) as specified in the Regulation 52(6) except those expenses which are specifically
Mr. Nandkumar Surti and Mr. Namdev Chougule. prohibited. The AMC reserves the right to change the above, both inter se or
in total, subject to prevailing Regulations.
PERFORMANCE OF THE SCHEME These estimates have been made in good faith as per the information available
Scheme Returns as on 31st March, 2011 to the AMC based on past experience and are subject to change inter-se. Types
of expenses charged shall be as per the SEBI (MF) Regulations.
Retail CRISIL Liquid Super CRISIL Liquid
(%) Fund Index (%) Institutional (%) Fund Index (%) The AMC will charge the Scheme such actual expenses incurred, subject to
Since inception 6.24% 5.89% 7.01% 6.31% the statutory limit prescribed in the Regulations, the current limits of which
are given below:
1 year 6.57% 6.21% 6.79% 6.21%
3 year NA NA 6.83% 6.22% Maximum recurring expenses :
Absolute returns for each financial year for the last 4 years Daily average net assets Maximum, as a % of
daily average net assets
Retail Super Institutional CRISIL Liquid Fund Index
9.18% 8.81% First R 100 crores 2.25%
10.00% –
8.00% – 6.79% Next R 300 crores 2.00%
#4.98% 6.57% 6.21%
6.00% – Next R 300 crores 1.75%
*4.18%
#4.83% 4.36% 4.57%
4.00% – *3.53% 3.69% Balance assets 1.50%
2.00% –
0.00% –
Maximum investment management fee to be charged by the AMC:
2007-08 2008-09 2009-10 2010-11 Daily average net assets Maximum, as a % of
Financial Years daily average net assets
Note: CAGR are given for more than one year. Absolute returns of the growth First R 100 crores 1.25%
option are computed for a period of less than one year. "Since inception" Balance assets 1.00%
returns are calculated on R 10 invested at inception.
Past performance may or may not be sustained in future. All calculations Any excess over these limits will be borne by the AMC.
assume that all payouts during the period have been re-invested in the units Recurring expenses (Actual expenses for the financial year ending):
of the scheme.
Particulars March
Allotment dates : 2011
*Super Institutional Plan : 21 September, 2007.
#Retail Plan : 16 September, 2008. Super Institutional Plan:
Total Recurring expenses as a percentage of Daily / Weekly 0.35%
EXPENSES OF THE SCHEME average net assets
As per the Regulations, the following fees and expenses can be charged to the Retail Plan:
Scheme: Total Recurring expenses as a percentage of Daily / Weekly 0.55%
average net assets
1. Initial issue expenses
No initial issue expenses were charged to the Scheme.
2. Recurring expenses
LOAD STRUCTURE OF THE SCHEME
Entry Load: NIL
These are the fees and expenses for operating the Scheme. These expenses
include investment management and advisory fee charged by the AMC, the Exit Load: NIL
Registrar and Transfer Agents’ fee, marketing and selling costs etc. as given in To know the latest position on Loads structure prior to investing /
the table below: redemption, investors are advised to contact any of the ISCs or the AMC at
The AMC has estimated that upto 2.25% of the daily average net assets of the its toll-free number "1-800-22-5763".
Scheme will be charged to the Scheme as expenses. For the actual current The investor is requested to check the prevailing load structure of the Scheme
expenses being charged, the investor should refer to the website of the Mutual before investing.
Fund (www.jpmorganmf.com).
All Loads are intended to enable the AMC to recover expenses incurred for
Nature of expense % of net assets promotion or distribution and sales of the Units of the Scheme. All Loads will
Retail Super be retained in the Scheme in a separate account and will be utilised to meet
Plan Institutional Plan distribution and marketing expenses. Any surplus amounts in this account
may be credited to the Scheme whenever considered appropriate by the AMC.
Investment management fee 0.200 0.200
Trustee fees 0.005 0.005 DAILY NET ASSET VALUE (NAV) PUBLICATION
The AMC will calculate and disclose the NAV of the Scheme on every Business
Custodian fees 0.005 0.005
Day. The NAV of the Scheme will be made available at all ISCs of the AMC. The
Registrar & transfer agent fees 0.040 0.030 AMC shall update the NAVs on the website of the Fund (www.jpmorganmf.com)
Marketing & selling expenses 0.400 0.150 and of the Association of Mutual Funds in India (www.amfiindia.com) by
including agents commission 9.00 p.m. on every Business Day. In case of any delay, the reasons for such
delay would be explained to AMFI. If the NAVs are not available before
Audit fees and statutory advertisements 0.015 0.015 commencement of business hours on the following Business Day due to any
Unit Holder servicing, investor 0.008 0.008 reason, the Fund shall issue a press release providing reasons and explaining
communication expenses when the Fund would be able to publish the NAV.
5

8. JPMORGAN INDIA TREASURY FUND (ii) State of the art systems and on-going
investment in trading technology.
(iii) Analysis of historical transactions and
NAME OF THE SCHEME associated impact costs used to determine
JPMorgan India Treasury Fund. trading strategies.
(iv) Low commission rates paid to brokers, reducing
TYPE OF SCHEME direct costs per trade.
An open-ended income scheme. (v) Significant overall commission payout ensuring
premium service from investment banks and
brokerage firms.
INVESTMENT OBJECTIVE
The investment objective is to provide liquidity and optimal returns to investors Effectiveness of the dealing team is measured on
by investing primarily in a mix of short-term debt and money market an ongoing basis.
instruments which results in a portfolio having marginally higher maturity Volatility As explained above, the volatility arising out of
and moderately higher credit risk as compared to a liquid fund, at the same Price volatility due to portfolio specific factors are being mitigated using
time maintaining a balance between safety and liquidity. However, there can company or portfolio a combination of various methods as explained
be no assurance that the investment objective of the Scheme will be specific factors above.
realized.
ASSET ALLOCATION PATTERN RISK PROFILE OF THE SCHEME
Mutual Fund Units involve investment risks including the possible loss of
Under normal circumstances it is anticipated that the asset allocation shall be
principal. Please read the SID carefully for details on risk factors before
as follows:
investment. Standard and Scheme Specific Risk Factors are summarized at
For both Plans (Retail Plan & Super Institutional Plan) the end of this document.
Investments Normal asset allocation Risk
(% of net assets) profile PLANS & OPTIONS
The Scheme has two plans: Retail Plan and Super Institutional Plan.
Money market & debt instruments with 70 - 100% Low
maturity / average maturity / interest Retail Plan:
rate reset not greater than 1 year Growth: Under the growth option no dividend will be declared.
Debt instruments with maturity greater 0 - 30% Low to Dividend: The dividend option offers daily, weekly, fortnightly and monthly
than 1 year but less than 3 years* Medium dividend reinvestment options.
* Debt Instruments include securitised debt. Securitised debt can be up to Super Institutional Plan:
50% of the net assets. Investment in Derivatives - up to 50% of the net Growth: Under the growth option no dividend will be declared.
assets of the Scheme. Dividend: The dividend option offers daily, weekly, fortnightly and monthly
dividend reinvestment options.
RISK MITIGATION FACTORS Under the Super Institutional Plan, the dividend option will also offer weekly,
Concentration Risk Portfolio construction is the responsibility of the fortnightly and monthly payout.
investment manager assigned to each fund. Under the dividend option, a dividend may be declared by the Trustee, at its
There are three objectives to the portfolio discretion, from time to time (subject to the availability of distributable surplus
construction process: as calculated in accordance with the Regulations).
(i) to capture and preserve value from all the best
ideas by country specialists; APPLICABLE NAV
(ii) to ensure no single decision will derail The Cut-off time for the Scheme is 3.00 p.m. and the Applicable NAV will be as
performance; and under:
(iii) to deliver in line with the fund's risk/return
profiles. For Purchase
Portfolios are constructed using a disciplined a. where the application is received upto 3.00 pm with a local cheque or
and tailored approach, and there is a high demand draft payable at par at the place where it is received, with amount
degree of commonality across accounts with less than R 1 crore – closing NAV of the day of receipt of application;
similar objectives and profiles. During the b. where the application is received after 3.00 pm with a local cheque or
process, the investment manager assigns a demand draft payable at par at the place where it is received, with amount
target percentage weight based upon less than R 1 crore – closing NAV of the next Business Day;
variations, positive or negative, from the c. where the application is received with a local cheque or demand draft
predetermined fund benchmark weight. payable at par at the place where it is received, with amount equal to or
Investment managers may also incorporate more than R 1 crore irrespective of the time of receipt of application, the
their own views on individual security and closing NAV of the day on which the funds are available for utilisation
exercise discretion to align with the above shall be applicable.
guidelines with the objective that is likely to
be achieved by inclusion of the security in a Applicability of NAV for the Scheme with an amount equal to or more than
fund portfolio. The investment manager will R 1 crore:
also reconcile any other anomalies between the a) For allotment of units in respect of purchase in the Scheme, the following
security rankings and portfolio requirements needs to be complied with:
with the overall objective of adding value to i. Application is received before the applicable cut-off time.
the fund portfolio.
ii. Funds for the entire amount of subscription/purchase as per the
The Risk Management / Middle Office oversees application are credited to the bank account of the respective Scheme
investment managers to ensure compliance with before the cutoff time.
the fund's internal requirements.
iii. The funds are available for utilization before the cut-off time without
Liquidity Risk Dealing in volatile, often illiquid markets imposes availing any credit facility whether intra-day or otherwise, by the
High impact costs a cost on an active investment manager. The respective Scheme.
responsibility for minimizing the performance drag b) For allotment of units in respect of switch-in to the Scheme from other
lies with the Dealing team whose focus is to schemes, the following needs to be complied with:
minimize market impact and transaction costs. The
competitive advantages in achieving this objective i. Application for switch-in is received before the applicable cut-off time.
are: ii. Funds for the entire amount of subscription/purchase as per the switch-
(i) An experienced team. in request are credited to the bank account of the respective switch-in
Scheme before the cut-off time.
6

9. iii. The funds are available for utilization before the cut-off time without NAME OF THE FUND MANAGER(S)
availing any credit facility whether intra-day or otherwise, by the Mr. Nandkumar Surti and Mr. Namdev Chougule.
respective switch-in Scheme or Plans or options thereunder.
For Redemption PERFORMANCE OF THE SCHEME
a. where the application is received up to 3.00 pm – closing NAV of the day Scheme Returns as on 31st March, 2011
of receipt of application; and
Retail CRISIL Liquid Super CRISIL Liquid
b. an application is received after 3.00 pm – closing NAV of the next Business
(%) Fund Index (%) Institutional (%) Fund Index (%)
Day.
The above will be applicable only for cheques / demand drafts / payment Since inception 6.41% 5.89% 7.27% 6.31%
instruments payable locally in the city in which a Designated Collection Centre 1 year 6.49% 6.21% 6.75% 6.21%
is located. No outstation cheques will be accepted.
3 years NA NA 7.04% 6.22%
For Switches
Absolute returns for each financial year for the last 4 years
Valid applications for 'switch-out' shall be treated as applications for
Redemption and valid applications for 'switch-in' shall be treated as Retail Super Institutional CRISIL Liquid Fund Index
applications for Purchase, and the provisions of the Cut-off time and the 10.00% – 9.25% 8.81%
Applicable NAV mentioned in the Offer Document as applicable to Purchase 8.00% – 6.75%
and Redemption shall be applied respectively to the 'switch-in' and 'switch- #4.99% 6.49% 6.21%
6.00% – #4.81% 4.89%
5.15%
out' applications. *4.46%
4.00% – *3.56% 3.69%
2.00% –
MINIMUM APPLICATION AMOUNT / NUMBER OF UNITS
0.00% –
Retail Plan Super Institutional Plan 2007-08 2008-09 2009-10 2010-11
Financial Years
Minimum initial R 5,000 per application R 1 Crore per application
application amount and in multiples and in multiples Note: CAGR are given for more than one year. Absolute returns of the growth
of R 1 thereafter. of R 1 thereafter. option are computed for a period of less than one year. "Since inception"
returns are calculated on R 10 invested at inception.
Minimum additional R 1,000 per application R 1 per application and in
application amount and in multiples multiples of R 1 thereafter Past performance may or may not be sustained in future. All calculations
of R 1 thereafter assume that all payouts during the period have been re-invested in the units
of the scheme.
Minimum redemption R 5,000 or 500 Units R 5,000 or 500 Units
Allotment dates:
amount / no. of Units
*Super Institutional Plan : 21 September, 2007.
#Retail Plan : 16 September, 2008.
DESPATCH OF REPURCHASE (REDEMPTION) REQUEST
Redemption proceeds will be paid by cheques, marked “A/c Payee only” and EXPENSES OF THE SCHEME
drawn in the name of the sole holder / first-named holder (as determined by As per the Regulations, the following fees and expenses can be charged to the
the records of the Registrar). Scheme:
The Mutual Fund will endeavour to despatch the Redemption proceeds within
3 Business Days from the acceptance of the Redemption request, but not
1. Initial issue expenses
beyond 10 Business Days from the date of Redemption. If the payment is not No initial issue expenses were charged to the scheme.
made within the period stipulated in the Regulations, the Unit Holder shall be 2. Recurring expenses
paid interest @15% p.a. for the delayed period and the interest shall be borne These are the fees and expenses for operating the Scheme. These expenses
by the AMC. include investment management and advisory fee charged by the AMC, the
The bank name and bank account number, as specified in the Registrar’s Registrar and Transfer Agents’ fee, marketing and selling costs etc. as given in
records, will be mentioned in the cheque. The cheque will be payable at par at the table below:
all the cities having ISCs. If the Unit Holder resides in any other city, he will be The AMC has estimated that upto 2.25% of the daily average net assets of the
paid by a demand draft payable at the city of his residence and the demand Scheme will be charged to the Scheme as expenses. For the actual current
draft charges shall be borne by the AMC. The proceeds may be paid by way of expenses being charged, the investor should refer to the website of the Mutual
direct credit / NEFT / RTGS / any other manner through which the investor’s Fund (www.jpmorganmf.com).
bank account specified in the Registrar’s records may be credited with the
Redemption proceeds. Nature of expense % of net assets
Note: The Trustee, at its discretion at a later date, may choose to alter or add Retail Super
other modes of payment. Plan Institutional Plan
The Redemption proceeds will be sent by courier or (if the addressee city is Investment management fee 0.350 0.350
not serviced by the courier) by registered post. The despatch for the purpose Trustee fees 0.005 0.005
of delivery through the courier / postal department, as the case may be, shall
be treated as delivery to the investor. The AMC / Registrar are not responsible Custodian fees 0.005 0.005
for any delayed delivery or non-delivery or any consequences thereof, if the Registrar & transfer agent fees 0.040 0.030
despatch has been made correctly as stated in this paragraph. Marketing & selling expenses 0.340 0.200
including agent’s commission
BENCHMARK FOR PERFORMANCE COMPARISON
Audit fees and statutory advertisements 0.015 0.015
CRISIL Liquid Fund Index.
Unit Holder servicing, investor 0.008 0.008
DIVIDEND POLICY communication expenses
The Trustee may decide to distribute by way of dividend, the surplus by way of Costs of fund transfer 0.005 0.005
realised profit, dividends and interest, net of losses, expenses and taxes, if Service tax 0.039 0.039
any, to Unit Holders in the dividend option of the Scheme if such surplus is
available and adequate for distribution in the opinion of the Trustee. The Other operating expenses* 0.093 0.043
Trustee’s decision with regard to availability and adequacy, rate, timing and Total annual scheme recurring expenses 0.900 0.700
frequency of distribution shall be final. The dividend will be due to only those
Unit Holders whose names appear in the register of Unit Holders in the dividend * Other expenses: Any other expenses which are directly attributable to the
option of the Scheme on the record date which will be announced in advance Scheme may be charged with approval of the Trustee within the overall limits
in accordance with MF Regulations. The Unit Holders have the option of as specified in the Regulation 52(6) except those expenses which are specifically
receiving the dividend or reinvesting the same. The dividend will be reinvested prohibited. The AMC reserves the right to change the above, both inter se or
at the Applicable NAV of the immediately following Business Day. The AMC in total, subject to prevailing Regulations.
shall dispatch to the Unit Holders, the dividend warrants within 30 (thirty) These estimates have been made in good faith as per the information available
days of the date of declaration of dividend. The dividend distribution procedure to the AMC based on past experience and are subject to change inter-se. Types
shall be in accordance with the Regulations. of expenses charged shall be as per the SEBI (MF) Regulations.
7

10. The AMC will charge the Scheme such actual expenses incurred, subject to Instrument Normal allocation Risk
the statutory limit prescribed in the Regulations, the current limits of which (% of net assets) profile
are given below: Equity and equity related securities 65-100% Medium
Maximum recurring expenses: of Smaller Companies* to High
Daily average net assets Maximum, as a % of Equity and equity related securities of 0-35% Medium
daily average net assets companies other than Smaller Companies* to High
First R 100 crores 2.25% Debt and money market 0-35% Low to
Next R 300 crores 2.00% instruments Medium
Next R 300 crores 1.75%
Balance assets 1.50% * Includes investments in equity and equity related securities issued by
domestic companies; including derivatives traded on the Futures and
Maximum investment management fee to be charged by the AMC: Options segment of Indian stock exchanges not exceeding 50% of the net
assets of the Scheme, offshore securities, ADRs and GDRs not exceeding
Daily average net assets Maximum, as a % of daily average net assets 50% of the net assets of the Scheme. Investment in securitised debt may
First R 100 crores 1.25% be made to the extent of 20% of net assets of the Scheme.
Balance assets 1.00%
RISK MITIGATION FACTORS
Any excess over these limits will be borne by the AMC. Risk and Description Risk Mitigants / Management Strategy
Recurring expenses (Actual expenses for the financial year ending): specific to Equities#
Particulars March Quality Risk The stock selection process is an important part
2011 Risk of investing in of the idea generation stage, as it provides the
unsustainable / weak greater part of added value to the investments.
Super Institutional Plan: companies Underpinning the stock selection process is the
Total Recurring expenses as a percentage of Daily / Weekly 0.50% rigorous research conducted by dedicated
average net assets specialists. The approach to stock selection is
Retail Plan: largely specific, which means that these investment
Total Recurring expenses as a percentage of Daily / Weekly 0.75 professionals have the responsibility to design and
average net assets refine their stock selection process to cope with
the dynamic local factors and market conditions.
LOAD STRUCTURE OF THE SCHEME Quality analysis based investment approach:
1. Entry Load: NIL (i) Management
2. Exit Load: NIL (ii) Capital structure
(iii) Sustainability of competitive advantage
To know the latest position on Loads structure prior to investing /
redemption, investors are advised to contact any of the ISCs or the AMC at (iv) Return on equity
its toll-free number "1-800-22-5763". (v) Industry attractiveness
The investor is requested to check the prevailing load structure of the Scheme In general, there are three primary sources of
before investing. investment return which the investment
professionals normally focus on and they form the
All Loads are intended to enable the AMC to recover expenses incurred for basic premise of the stock selection process:
promotion or distribution and sales of the Units of the Scheme. All Loads will
be retained in the Scheme in a separate account and will be utilised to meet (i) Growth - companies that exhibit sustainable
the distribution and marketing expenses. Any surplus amounts in this account earnings growth in excess of the market
may be credited to the Scheme whenever considered appropriate by the AMC. through an economic cycle;
(ii) Valuations - quantitative analysis in evaluating
DAILY NET ASSET VALUE (NAV) PUBLICATION the value and profitability of the company;
The AMC will calculate and disclose the NAV of the Scheme on every Business (iii) Dividend yield - an additional source of return,
Day. The NAV of the Scheme will be made available at all ISCs of the AMC. The over and above capital appreciation.
AMC shall update the NAVs on the website of the Fund (www.jpmorganmf.com) Price Risk During company visits, qualitative assessments of
and of the Association of Mutual Funds in India (www.amfiindia.com) by Risk of overpaying for the relative growth prospects of the companies
9.00 p.m. on every Business Day. In case of any delay, the reasons for such a company concerned are made and strategies are decided to
delay would be explained to AMFI. If the NAVs are not available before create shareholder value. Industries in which
commencement of business hours on the following Business Day due to any companies operate are analysed along with the
reason, the Fund shall issue a press release providing reasons and explaining competitive landscape as well as the management
when the Fund would be able to publish the NAV. strategy to enhance competitive advantage and
returns. As part of the process, meetings are
JPMORGAN INDIA SMALLER COMPANIES FUND organised not only with companies that fall within
the core stock coverage, but also with their
NAME OF THE SCHEME competitors, distributors, suppliers and other
stakeholders in order to obtain a complete picture
JPMorgan India Smaller Companies Fund
of the industry/company and other investment
TYPE OF SCHEME opportunities. In the process, a clear
An open-ended equity growth scheme. understanding of the business is arrived at,
enabling the identification of future long-term
INVESTMENT OBJECTIVE winners at an early stage.
The investment objective is to seek to generate long-term capital appreciation Concentration Risk Portfolio construction is the responsibility of the
from a portfolio that is substantially constituted of equity and equity-related investment manager assigned to each fund.
securities focused on smaller companies. Generally, the universe will be the
companies constituting the bottom fourth by way of market capitalization of There are three objectives to the portfolio
stocks listed on the NSE / BSE. The fund manager may from time to time construction process:
include other equity and equity-related securities outside the universe to (i) to capture and preserve value from all the best
achieve optimal portfolio construction. However, there can be no assurance ideas by country specialists;
that the investment objective of the scheme will be realised. (ii) to ensure no single decision will derail
performance; and
ASSET ALLOCATION PATTERN (iii) to deliver in line with the fund's risk/return
Under normal circumstances, it is anticipated that the asset allocation shall profiles.
be as follows:
8