IDBI–PRINCIPAL
Monthly
Income Fund
(An Open-ended Income Fund
having periodical distributions with no Assured Returns)
Offer
for units of Rs. 10/- face value during initial offer period and at applicable
NAV based price thereafter
IDBI Mutual Fund
Bajaj Bhavan, 2nd Floor, Nariman
Point, Mumbai 400 021, India
Investment Manager
IDBI-PRINCIPAL Asset Management Company
Limited
Bajaj Bhavan, 2nd Floor, Nariman Point, Mumbai 400 021, India. Tel: 204 4988, Fax:204 4990
Sponsors
Industrial
Development Bank of India, and
Principal
Financial Services Inc.
Trustees
Board
of Trustees with IDBI as the Principal Trustee
Scheme Initial Offer opens on December
__, 2001
Scheme Initial Offer closes on December __, 2001
Scheme
Open For ongoing subscription from
: January __, 2002
The
terms of this Offering have been prepared in accordance with the Securities
& Exchange Board of India (Mutual Funds) Regulations, 1996 as amended from
time to time including by way of Circulars, Press Releases, or Notifications
issued by the Securities & Exchange Board of India (SEBI) or the Government
of India to regulate the activities and growth of mutual funds. This Offering
Circular has been filed with SEBI. The Units being offered for public
subscription have not been approved or disapproved by SEBI. Further, SEBI has
not certified the accuracy or the adequacy of the Offering Circular. Any changes
made to be made to this Offer Document are subject to approval by the Trustees /
SEBI / Unitholders, as may be required.
This
Offer Document sets forth concisely, necessary information about the Scheme for
a prospective unitholder, to make an informed investment decision in the Scheme
described herein. Unitholders
should carefully read the Offer Document prior to making a decision to invest in
the Scheme and retain the Offer Document for future reference. No person has been authorized to give
any information or to make any representations not confirmed in this Offer
Document in connection with the offer or the issue of units, and any information
or representations not contained herein must not be relied upon as having been
authorized by the Mutual Fund, or the AMC.
The
Scheme is an open ended Scheme. This Offer Document is dated
December __, 2001. The Offer Document will remain effective
till a 'material change' (other than a change in the Fundamental Attributes and
within the purview of the Offer Document) occurs. The offer document shall be
fully revised and updated atleast once in two years. Till the time the offer
document is revised and reprinted, an addendum giving details of the each of the
changes shall be attached to offer document. The addendum shall be circulated to
all the distributors/brokers so that the same can be attached to all offer
documents already in stock. The addendum shall also be sent to the existing
unitholders.
In
this Offer Document, all references to “dollars” or “$” refers to United States
dollars, and “Rs.” Refers to Indian Rupees. A “crore” means “ten million” and a
“lakh” means a “hundred thousand”.
IDBI
Mutual Fund
Bajaj Bhavan,
2nd Floor, Nariman
Point, Mumbai 400 021
Phone + 91 22
204 4988 Fax + 91 22 2044990
E mail
mailto:services@idbimutualprincipal.comcustomer@idbiprincipal.com
|
Sponsors |
·
Industrial
Development Bank of India IDBI
Tower, Cuffe Parade, Mumbai 400 005 ·
Principal
Financial Services Inc. 711
High Street, Des Moines, Iowa
50392-0200, USA |
|
Trustee |
Board
of Trustees with IDBI as Principal Trustee |
|
Investment
Manager |
IDBI
– PRINCIPAL Asset Management
Company Limited
Bajaj
Bhavan, 2nd Floor
, Nariman Point, Mumbai 400 021 |
|
Registrar
and Transfer Agent |
Karvy
Consultants Limited.
21,
Avenue 4, Street No. 1,
Banjara Hills, Hyderabad 500 034 |
|
Custodian |
Stock
Holding Corporation of India Limited Mittal
Court, B-Wing 224, Nariman Point, Mumbai 400 021 |
|
Auditors |
N.M.
Raiji and Co., Chartered Accountant Universal Insurance Building, Sir P.M. Road
Mumbai 400 001 |
|
LEGAL
ADVISORS |
CRAWFORD
BAYLEY & CO., 4th
Floor, State Bank of India Bldg., Fort, Mumbai 400
023 DAVE
& GIRISH & CO. 1st
floor, Sethna Building 55,
Maharshi Karve Road, Marine
Linies, Mumbai 400 002 |
Table of Contents
|
Highlights
|
8 |
|
Risk
Factors |
10 |
|
Special
Considerations |
13 |
|
Due Diligence
Certificate |
16 |
|
Abbreviations &
Definitions |
17 |
|
Brief Introduction to
Future Goals Series |
22 |
|
Scheme
Features |
22 |
|
Additional Features
for Unitholders under the Future Goals Asset Allocation
Programme |
34 |
|
Constitution of the
Mutual Fund |
38 |
|
The
Fund |
38 |
|
The
Sponsors |
38 |
|
Industrial Development
Bank of India |
38 |
|
Principal Financial
Services, Inc. |
39 |
|
Trustees of IDBI
Mutual Fund |
40 |
|
Members |
40 |
|
Duties &
Responsibilities of Trustees |
41 |
|
Unitholders
Consent |
44 |
|
Trusteeship
Fees |
44 |
|
Management of the
Fund |
45 |
|
Investment Manager -
IDBI - PRINCIPAL Asset Management Company Limited |
45 |
|
Share holding pattern
of IDBI-PRINCIPAL Asset Management Co Ltd |
45 |
|
Investment Management
Fees |
46 |
|
Duties and
Responsibilities of AMC |
46 |
|
Board of
Directors |
47 |
|
Key Personnel and
Their Relevant Experience |
48 |
|
Custodian |
49 |