LARGE & MID CAP FUND

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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) & Statement

of Additional Information (SAI) available free of cost at any of the Investor Service Centres or distributors or from the website

www.tatamutualfund.com.

The Scheme particulars have been prepared in accordance with Securities & Exchange Board of India (Mutual Funds) Regulations

1996, as amended till date & filed with Securities & 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 product is suitable for investors who are seeking*:

• Long Term Capital Appreciation.

• Investment in equity & equity related instruments of well researched value and

growth oriented Large & Mid Cap Companies.

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.

Name of the AMC

Tata Asset Management Ltd.

CIN: U65990-MH-1994-PLC-077090

Offer for Units at

NAV Based Prices

Name of the Mutual Fund

Tata Mutual Fund

KEY INFORMATION MEMORANDUM

Scheme opened on 25.02.1993

Scheme closed on 30.03.1993

Scheme renamed as Tata Large & Mid Cap Fund 01.06.2018

LARGE & MID CAP FUND (An open ended equity scheme investing in both large cap and mid cap stocks)

1903, B-Wing, Parinee Crescenzo, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051

Toll Free: 1800-209-0101 (Lines open on Sundays also)

E-mail: [email protected] Website: www.tatamutualfund.com

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SCHEME DETAILS AND RISk-O-METER

TATA LARgE & MID CAp FuND (TLMCF)

This product is suitable for investors who are seeking*:

• LongTermCapitalAppreciation.

• InvestmentinequityandequityrelatedinstrumentsofwellresearchedvalueandgrowthorientedLarge&MidCapCompanies.

*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

INvESTMENT ObjECTIvE: TheinvestmentobjectiveoftheSchemeistoprovideincomedistributionand/ormediumtolongtermcapitalgainswhileatalltimesemphasizingtheimportanceofcapitalappreciation.

ASSET ALLOCATION pATTERN OF THE SCHEME:

Undernormalcircumstances,fundsoftheScheme,shall(afterprovidingforallongoingexpenses)beinvested/theindicativeassetallocationshallbeasfollowsconsideringtheobjectiveoftheScheme:

InstrumentsIndicative allocations

(% of total assets)Risk

profile

Minimum upto

Maximum upto

High/Medium/

Low

Equity & Equity RelatedInstruments of Large CapCompanies

35 65 High

Equity&EquityRelatedInstrumentsofMidCapCompanies

35 65 High

OtherEquity&EquityRelatedInstruments 0 30 High

OtherSecurities* 0 30 LowtoMedium

*includingsecuritizeddebt.

LargecapandMidCapcompaniesarethosecompanieswhichareclassifiedasLargeCapandMidCapcompaniesbySecuritiesandExchangeBoardofIndia(SEBI)SEBIorAssociationofMutualFundsinIndia(AMFI).

At present Large Cap companies are classified as 1st -100th companyandMidCapCompaniesas101st-250thcompanyintermsoffullmarketcapitalization.

In linewith the investmentobjectiveand inaccordancewithguidelinesissuedbySEBIvidecircularNoSEBI/IMD/CIRNO.7/104753/2007datedSeptember26,2007,thescheme(s),mayinvestupto25%ofthenetassetsin the foreign/overseas securities and such other securities asmay bepermittedbySEBI/RBIfromtimetotime.

TheSchemewill complywithall theapplicable circulars issuedbySEBIasregardtoderivativesviz.SEBICircularno.SEBI/MFD/CIRNo.03/158/03dated June10, 2003, no.DNPD/Cir-29/2005dated September 14,2005,no.SEBI/IMD/CIRNo.9/108562/07datedNovember16,2007,no.Cir/ IMD/ DF/ 11/ 2010 dated August 18, 2010 & SEBI/HO/IMD/DF2/CIR/P/2017/109 dated September 27,2017. Investment in derivatives/futures/optionsmaybedonefortrading,hedgingandportfoliobalancing.

Theschemenetassetswillhaveamaximumderivativenetpositionof50%ofthenetassetsofthescheme.

Notmorethan25%ofthenetassetsoftheschemeshallbedeployedinsecuritieslending.TheSchemewouldlimititsexposure,withregardstosecuritieslending,forasingleintermediary,totheextentof5%ofthetotalnetassetsoftheschemeatthetimeoflending.

TheSchemedoesnotseektoparticipateinrepo/reverserepoincorporatedebtsecurities.

TheSchemedoesnotseektoparticipateincreditdefaultswaps.

Change in Investment pattern:Investmentstrategyandpatternmaybedeviatedfromtimetotime,providedsuchmodificationisinaccordance

Unitholderscanoptforonlyonedividendsub-optionunderaschemeinasinglefolio.Incase,differentdividendsub-optionsarerequired,unitholdersarerequiredtocreateanewfolio.

Alsonotethatthedividendsub-optionselectedinthelastinflowtransactionwillbeapplicabletoallthetransactionsintherespectiveschemesub-optioninthefolio.Belowexamplewillexplaintheabovestatement:

Date Request by unitholder Sub Option

01/01/2019 PurchaseinDividendOption Payout

02/03/2019 SIPRegisteredinDividendOption Reinvesment

03/05/2019 AdditionalPurchaseinDividendOption Payout

02/06/2019 SIPInstalment Reinvesment

Hence thedividendsuboptionchosenbyunitholders in the last transaction (i.eSIP instalmentason02/06/2019suboption reinvestment)willbeapplicabletoalltransactionsintherelatedschemesuboptioninthefolio.

In case of statutory/ legal attachments/ suspensions or litigations/ disputes at the unitholders /investor’s end, the dividendswill compulsorily bereinvestedandnopayoutshallbemadeduringthesaidperiod,irrespectiveofthedividendsub-optionselected.

SCHEME ObjECTIvE OF TATA LARgE & MID CAp FuND

Scheme Name Investment Objective Option Sub Option payout Option

TataLarge&MidCapFund(erstwhileTataEquityOpportunitiesFund)–RegularPlan

TataLarge&MidCapFund(erstwhileTataEquityOpportunitiesFund)–DirectPlan

TheinvestmentobjectiveoftheSchemeistoprovideincome distribution and / or medium to long termcapital gains while at all times emphasizing theimportanceofcapitalappreciation

Growth - -

Dividend -Payout/

Reinvestment

Default option under Direct / Regular plan:

Scenario broker Code mentioned by the investor plan mentioned by the investor Default plan to be captured

1. Notmentioned Notmentioned DirectPlan

2. Notmentioned Direct DirectPlan

3. Notmentioned Regular DirectPlan

4. Mentioned Direct DirectPlan

5. Direct NotMentioned DirectPlan

6. Direct Regular DirectPlan

7. Mentioned Regular RegularPlan

8. Mentioned NotMentioned RegularPlan

Incasesofwrong/invalid/incompleteARNcodesmentionedontheapplicationform,theapplicationshallbeprocessedunderRegularPlan.TAMLshallcontactandobtainthecorrectARNcodewithin30calendardaysofthereceiptoftheapplicationformfromtheinvestor/distributor.Incase,thecorrectcodeisnotreceivedwithin30calendardays,theTAMLshallreprocessthetransactionunderDirectPlanfromthedateofapplicationwithoutanyexitload.

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with the Scheme(s) objective and Regulations as amended from timeto time, the intentbeing toprotect theNetAssetValueof the schemeandunitholders’ interests. In case of deviation, theAMCwill achieve anormalassetallocationpatterninamaximumperiodofthreemonths.Incasedeviationininvestmentpatterninnotrebalancedwithintheperiodindicatedabovethenjustificationforsuchdelayinrebalancingofportfolioshallbeplacedbeforetheinvestmentcommitteeandthereasonsforthesameshallberecordedinwriting.TheInvestmentCommitteeshallthendecide on the course of action.However, at all times the portfoliowilladheretotheoverallinvestmentobjectivesoftheScheme.

RISk pROFILE OF THE SCHEME

MutualFundUnitsinvolveinvestmentrisksincludingthepossiblelossofprincipal.PleasereadtheSIDcarefully fordetailsonriskfactorsbeforeinvestments.SchemespecificRiskFactorsaresummarisedbelow:

Risk profile of the Scheme:

Investment Risks

The price of securities may go up or down depending on a varietyof factors and hence investors may note that AMC/Fund Manager’sinvestment decisions may not be always profitable. Although it isintended to generate capital appreciation andmaximize the returnsbyactivelyinvestinginequitysecuritiesandutilisingdebtandmoneymarketinstruments as a defensive investment strategy. The price of securitiesmay be affected generally by factors affecting capitalmarkets such aspriceandvolume,volatilityinthestockmarkets,interestrates,currencyexchangerates,foreigninvestment,changesinGovernmentandReserveBankofIndiapolicy,taxation,political,economicorotherdevelopments,closureoftheStockExchangesetc.Investorsshouldunderstandthattheinvestmentpatternindicated,inlinewithprevailingmarketconditions,isonlyahypotheticalexampleasall investments involveriskandthere isnoassurancethattheFund’sinvestmentobjectivewillbeattainedorthattheFundmaynotbeinapositiontomaintaintheindicatedpercentageof investment pattern under exceptional circumstances. There is noguaranteetheinvestment/dis-investmentdecisionwillresultintoprofit.

The fund may use techniques and instruments for efficient portfoliomanagementandtoattempttohedgeorreducetherisk.However,thesetechniquesandinstrumentsifimperfectlyusedhavetheriskofthefundincurring losses due to mismatches particularly in a volatile market.The Fund’s ability to use these techniques may be limited by marketconditions, regulatory limitsand taxconsiderations (ifany).Theuseofthese techniques is dependent on the ability to predict movements inthepricesof securitiesbeinghedgedandmovements in interest rates.Thereexists an imperfect correlationbetween thehedging instrumentsandthesecuritiesormarketsectorsbeinghedged.Besides,thefactthatskillsneededtousetheseinstrumentsaredifferentfromthoseneededtoselecttheFund’s/plan’ssecurities.Thereisapossibleabsenceofaliquidmarketforanyparticularinstrumentatanyparticulartimeeventhoughthefuturesandoptionsmaybeboughtandsoldonanorganisedexchange.Theuseof these techniques involvespossible impediments toeffectiveportfolio management or the ability to meet repurchase / redemptionrequestsorothershort-termobligationsbecauseofthepercentageoftheFund’sassetssegregatedtocoveritsobligations.

Liquidity and Settlement Risks

TheliquidityoftheScheme’sinvestmentsmaybeinherentlyrestrictedbytradingvolumes,transferproceduresandsettlementperiods.Fromtimetotime,theSchemewillinvestincertainsecuritiesofcertaincompanies,industries, sectors, etc. based on certain investment parameters asadopted internally by AMC. While at all times the AMC will endeavourthat excessive holding/investment in certain securities of industries,sectors, etc. by the Scheme(s) are avoided, the funds invested by theScheme in certain securities of industries, sectors, etc. may acquire asubstantialportionoftheScheme’sinvestmentportfolioandcollectivelymayconstituteariskassociatedwithnon-diversificationandthuscouldaffectthevalueofinvestments.ReducedliquidityinthesecondarymarketmayhaveanadverseimpactonmarketpriceandtheScheme’sabilitytodispose of particular securities,when necessary, tomeet the Scheme’sliquidity needs or in response to a specific economic event or duringrestructuringoftheScheme’sinvestmentportfolio.

Regulatory Risk

Thevalueofthesecuritiesmaybeaffectedbyuncertaintiessuchaschangesingovernmentpolicies, changes in taxationandotherdevelopments inthelawsandregulations.

Risk associated with unlisted Securities

Securitieswhich are not quoted on the stock exchanges are inherentlyliquid in nature and carry a larger liquidity risk in comparison withsecuritiesthatarelistedontheexchangesorofferotherexitoptionstotheinvestors,includingtheputoptions.Theliquidityandvaluationofthescheme’s investmentsdue to itsholdingsofunlistedsecuritiesmaybeaffectediftheyhavetobesoldpriortothetargetdateofdisinvestment.

Securities Lending by the Mutual Fund

TheSchememayparticipateinsecuritieslendingandborrowingschemein accordance with Securities Lending Scheme, 1997, Regulation 44(4) of SEBI ( Mutual Funds ) Regulations ,1996, SEBI circular no MFD/CIR/01/047/99datedFebruary10,1999,frameworkforshortsellingandborrowingandlendingofsecuritiesnotifiedbySEBIcircularnoMRD/DoP/SE/Cir-14/2007dated20,2007andSEBIcircularnoSEBI/IMD/CIRNo14/187175/2009datedDecember15,2009andSEBIcircularnoCIR/MRD/DP/122/2017datedNovember17,2017.TheSchemeshall also followotherrelevantregulations/guidelinesissuedbystockexchange(s)fromtime to time. The Scheme shall participate in Securities Borrowing andLendingonlywiththeSEBIapprovedintermediaries.

Securities Lending means the lending of securities to SEBI approvedintermediaries for a a tenure of 1 to 12 months at a negotiatedcompensationinordertoenhancereturnsoftheschemeportfolio.Thesecurities lent will be returned by the borrower on the expiry of thestipulated period. The AMC will adhere to the following strict internallimitsshoulditengageinSecuritiesLending.

Notmorethan25%ofthenetassetsoftheSchemecanbedeployedinstocklendingandnotmorethan5%ofthefundcanbecanbedeployedinStock lending toanysinglecounterparty.Collateralwouldalwaysbeobtainedbytheapprovedintermediary.Collateralvaluewouldalwaysbemorethanthevalueofthesecuritylent.Collateralcanbeinformofcash,bankguarantee,andgovernmentsecurities,asmaybeagreeduponwiththeapprovedintermediary,andwouldalsobesubjecttoamarktomarketvaluationonadailybasis.

Securities Lending Risks

Itmaybenotedthatthisactivitywouldhavetheinherentprobabilityofcollateral value drastically falling in times of strong downwardmarkettrends, rendering the value of collateral inadequate until such time asthatdiminution in value is replenishedbyadditional security. It is alsopossiblethattheborrowingpartyand/ortheapprovedintermediarymaysuddenlysufferseverebusinesssetbackandbecomeunabletohonouritscommitments.This,alongwithasimultaneousfall invalueofcollateralwould render potential loss to the Scheme. Besides, there will also betemporaryilliquidityofthesecuritiesthatarelentoutandtheScheme(s)willnotbeabletosellsuchlentoutsecuritiesuntiltheyarereturned.

Risks associated with Debt / Money Markets

Interest Rate Risk

Aswithdebtinstruments,changesininterestratemayaffectthepriceofthedebtinstrument(s)andultimatelyScheme’snetassetvalue.Generally,thepricesofinstrumentsincreaseasinterestratesdeclineanddecreaseas interest rates rise. Prices of long-term securities fluctuate more inresponsetosuchinterestratechangesthanshort-termsecurities.Indiandebt and government securitiesmarkets can be volatile leading to thepossibilityofpricemovementsupordowninfixedincomesecuritiesandtherebytopossiblemovementsintheNAV.

Credit Risk

CreditriskorDefaultriskreferstotheriskthatanissuerofafixedincomesecuritymaydefault(i.e.theissuerwillbeunabletomaketimelyprincipaland interest payments on the security). Because of this risk corporatedebenturesaresoldatahigheryieldabovethoseofferedonGovernmentSecuritieswhicharesovereignobligationsandfreeofcreditrisk.Normally,the value of fixed income securitieswill fluctuate depending upon thechanges intheperceived levelofcreditriskaswellasanyactualeventofdefault.Thegreaterthecreditrisk,thegreatertheyieldrequiredforsomeonetobecompensatedfortheincreasedrisk.

Reinvestment Risk

This risk refers to the difference in the interest rate levels at whichcash flows received from the securities in the scheme is reinvested.The additional income from reinvestment is the “interest on interest”component. The risk is that the rate at which interim cash flows arereinvestedmaybelowerthanthatoriginallyassumed.

Counterparty Risk

This is the risk of failure of counterparty to the transaction to deliversecuritiesagainstconsiderationreceivedortopayconsiderationagainstsecuritiesdelivered,infullorinpartoraspertheagreedspecification.Therecouldbelossestotheschemeincaseofcounterpartydefault.

Derivatives carry the risk of adverse changes in themarket price. Theriskofmispricingorimpropervaluationandtheinabilityofderivativestocorrelateperfectlywithunderlyingassets,ratesandindices.

Although for exchange traded derivatives, the risk ismitigated as theexchangeprovidestheguaranteedsettlementhoweverinOTCtradesthepossibilityofsettlementislimited.

Risk associated with potential change in Tax structure

Thissummaryoftaximplicationsgiveninthetaxationsection(UnitsandOfferSectionIII)isbasedonthecurrentprovisionsoftheapplicabletaxlaws.Thisinformationisprovidedforgeneralpurposeonly.Thecurrent

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taxationlawsmaychangeduetochangeinthe‘IncomeTaxAct1961’oranysubsequentchanges/amendmentsinFinanceAct/Rules/Regulations.Anychangemayentailahigheroutgototheschemeortotheinvestorsby way of securities transaction taxes, fees, taxes etc. thus adverselyimpactingtheschemeanditsreturns.

Risk Associated with overseas investments

• To the extent the assets of the schemes are invested in overseasfinancial assets, there may be risks associated with currencymovements,restrictionsonrepatriationandtransactionproceduresinoverseasmarket.Further,therepatriationofcapitaltoIndiamayalsobehamperedbychangesinregulationsorpoliticalcircumstancesaswellastheapplicationtoitofotherrestrictionsoninvestment.Inaddition,countryriskswouldincludeeventssuchasintroductionof extraordinary exchange controls, economic deterioration, bi-lateral conflict leading to immobilization of the overseas financialassetsandtheprevalenttax lawsoftherespective jurisdictionforexecutionoftradesorotherwise.

• The Schemes may also invest in ADRs / GDRs / Other ForeignSecuritiesaspermittedbyReserveBankofIndiaandSecuritiesandExchangeBoardofIndiafromtimetotime.Totheextentthatsomepart of the assets of the Schemes may be invested in securitiesdenominated in foreigncurrencies, IndianRupeeequivalentof thenetassets,distributionsand incomemaybeadverselyaffectedbythechangesinthevalueofcertainforeigncurrenciesrelativetotheIndianRupee.Therepatriationofcapitalalsomaybehamperedbychanges in regulations concerning exchange controls or politicalcircumstancesaswellastheapplicationtoitofotherrestrictionsoninvestmentasapplicable.

• As the investment,may bemade in stocks of different countries,theportfolioshallbeexposedtothepolitical,economicandsocialriskswithrespecttoeachcountry.However,theportfoliomanagershall ensure that his exposure to each country is limited so thattheportfolioisnotexposedtoonecountry.Investmentsinvariouseconomieswillalsodiversifyandreducethisrisk.

• InrespectofthecorpusoftheSchemesthatisinvestedinoverseasmutual fund schemes, investors shall bear the proportionaterecurring expenses of such underlying scheme(s), in addition tothe recurring expenses of the Scheme. Therefore, the returnsattributable to such investmentsby the Schememaybe impactedormay,attimes,belowerthanthereturnsthattheinvestorscouldobtainbydirectlyinvestinginthesaidunderlyingscheme.

• CurrencyRisk:Theschemesmay invest insecuritiesdenominatedin a broad range of currencies and may maintain cash in suchcurrencies. As a consequence, fluctuations in the value of suchcurrenciesagainstthecurrencydenominationoftherelevantschemewill have a corresponding impact on the value of the portfolio.Furthermore,investorsshouldbeawarethatmovementsintherateofexchangebetweenthecurrencyofdenominationofa fundandtheirhomecurrencywillaffectthevalueoftheirshareholdingwhenmeasuredintheirhomecurrency.

Risks associated with Derivatives

• Derivative products are leverage instruments and can providedisproportionate gains as well as disproportionate losses to theinvestors. Execution of such strategies depends upon the abilityof the FundManager to identify such opportunities. IdentificationandexecutionofthestrategiestobepursuedbytheFundManagerinvolveduncertaintyanddecisionofFundManagermaynotalwaysbeprofitable.NoassurancecanbegiventhattheFundManagerwillbeabletoidentifyorexecutesuchstrategies.

• Derivative products are specialized instruments that requireinvestment techniques and risk analysis different from thoseassociated with stocks and bonds. Derivatives require themaintenance of adequate controls to monitor the transactionsentered, the ability to assess the risk that aderivative add to theportfolioandtheabilitytoforecastpriceofsecuritiesbeinghedgedandinterestratemovementscorrectly.Thereisapossibilitythatalossmaybesustainedbytheportfolioasaresultofthefailureofanotherparty (usuallyreferredtoasthe“counterparty”) tocomplywith the terms of the derivatives contract. Other risks in usingderivativesincludetheriskofmis-pricingorimpropervaluationofderivativesandtheinabilityofderivativestocorrelateperfectlywithunderlyingassets,ratesandindices.

• Therisksassociatedwiththeuseofderivativesaredifferentfromorpossiblygreaterthan,therisksassociatedwithinvestingdirectlyinsecuritiesandothertraditionalinvestments”.

• TheSchememayfaceexecutionrisk,wherebytheratesseenonthescreenmaynotbetherateatwhichtheultimateexecutionofthederivativetransactiontakesplace.

• TheSchememayfinditdifficultorimpossibletoexecutederivativetransactionsincertaincircumstances.Forexample,whenthereare

insufficientbidsorsuspensionoftradingduetopricelimitorcircuitbreakers,theSchememayfacealiquidityissue.

• Investmentsinindexfuturesfacethesameriskastheinvestmentsinaportfolioofsharesrepresentinganindex.Theextentoflossisthesameasintheunderlyingstocks.

• TheSchemebearsariskthatitmaynotbeabletocorrectlyforecastfuturemarkettrendsorthevalueofassets,indicesorotherfinancialor economic factors in establishing derivative positions for theScheme.

• Thereisthepossibilitythatalossmaybesustainedbytheportfolioasaresultofthefailureofanotherparty(usuallyreferredtoasthe“counterparty”)tocomplywiththetermsofthederivativescontract.The counterpartymaydefault on a transactionbefore settlementand therefore, theScheme is compelled tonegotiatewithanothercounterparty at the then prevailing (possibly unfavorable) marketprice.

• The risk of loss in trading futures contracts can be substantial,because of the lowmargin deposits required, the extremely highdegreeofleverageinvolvedinfuturespricingandthepotentialhighvolatilityofthefuturesmarkets.

• Where derivatives are used for hedging, such use may involve abasicriskwheretheinstrumentusedasahedgedoesnotmatchthemovement in the instrument/underlying asset being hedged. Theriskmaybeinter-relatedalsoe.g.interestratemovementscanaffectequityprices,whichcouldinfluencespecificissuer/industryassets.

Otherrisksinusingderivativesincludetheriskofmispricingorimpropervaluation of derivatives and the inability of derivatives to correlateperfectlywithunderlyingassets,ratesandindices.

Risks Associated with Securitised Debt

Riskduetoprepayment: Incaseofsecuritizeddebt,changesinmarketinterestratesandpre-paymentsmaynotchangetheabsoluteamountofreceivablesfortheinvestorsbutmayhaveanimpactonthereinvestmentoftheperiodiccashflowsthataninvestorreceivesonsecuritizedpapers.In the event of pre-payment of the underlying debt, investorsmay beexposedtochangesintenorandyield.

Liquidity Risk: Presently,despite recent legaldevelopmentspermittingthe listing of securitized debt instruments, the secondary market forsecuritizeddebtinIndiaisnotveryliquid.Evenifamoreliquidmarketdevelopsinthefuture,secondarytransactionsinsuchinstrumentsmaybeatadiscounttoinitialissuepriceduetochangesintheinterestratestructure.

Limited Recourse and Credit Risk: Certificates issued on investmentin securitized debt represent a beneficial interest in the underlyingreceivablesandthereisnoobligationontheissuer,sellerortheoriginatorinthatregard.Defaultsontheunderlyingloancanadverselyaffectthepayoutstotheinvestorsandthereby,adverselyaffecttheNAVoftheScheme.While it is possible to repossess and sell the underlying asset, variousfactorscandelayorpreventrepossessionandthepriceobtainedonsaleofsuchassetsmaybelow.

bankruptcy Risk:IftheoriginatorofsecuritizeddebtinstrumentsinwhichtheSchemeinvests issubjecttobankruptcyproceedings&thecourt insuchproceedingsconcludesthatthesaleoftheassetsfromoriginatortothetrustwasnota‘truesale’,thentheSchemecouldexperiencelossesordelaysinthepaymentsdue.Normally,careistakeninstructuringthesecuritizationtransactionsoastominimizetheriskofthesaletothetrustnotbeingconstruedasa‘truesale’.

Risk of Co-mingling: Servicers in a securitization transaction normallydepositallpaymentsreceivedfromtheobligorsintoacollectionaccount.However,therecouldbeatimegapbetweencollectionbyaserviceranddepositing thesame into thecollectionaccount. In this interimperiod,collectionsfromtheloanagreementsbytheservicermaynotbesegregatedfromotherfundsoftheservicer.IftheServicerfailstoremitsuchfundsduetoinvestors,investorsintheSchememaybeexposedtoapotentialloss.

FordetailedRiskFactorsreferSchemeInformationDocumentoftheScheme.

RISk MITIgATION MEASuRES

(A) Risk mitigation measures for Equity Investments:

Investment in equity has an inherent market risk which cannot bemitigatedgenerally.Followingmeasureshavebeenimplementedwithanobjectivetomitigate/controlotherrisksassociatedwithequityinvesting:

Nature of Risk Mitigation Measures

RegulatoryRisk• Online monitoring of various exposure limits

by the Front Office System. Also as a backup,manualcontrolsarealsoimplemented.

PoorPortfolioQuality

• Pre-approveduniverseofstocksbasedonstrongfundamentalresearch.Newstockadditiononlywiththepriorapprovalofinvestmentcommittee.

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PerformanceRisk• Periodical review of stock wise profit & loss.

Review of scheme performance vis. a vis.Benchmarkindexaswellaspeergroup.

LiquidityRisk• Periodicalreviewoftheliquiditypositionofeach

scrip (Market capitalization, average volume inthemarketvis.avis.PortfolioHolding)

ConcentrationRisk

• Caponmaximumsinglesectorexposure.Caponmaximumsinglestockexposure.

(b) Risk Mitigation measures for Debt and related Investments:

Nature of Risk Mitigation Measures

LiquidityRisk • Focus on good quality paper at the time ofportfolioconstruction.

• Portfolioexposurespreadovervariousmaturitybucketstoinlinewithmaturityofascheme.

CreditRisk • Inhousededicatedteamforcreditappraisal

• Issuerwiseexposurelimit

• Ratinggradewiseexposurelimit

• PeriodicalportfolioreviewbytheBoardofAMC

InterestRateRisk • Closewatchonthemarketevents

• Activedurationmanagement

• Portfolio exposure spread over variousmaturities.

RegulatoryRisk OnlinemonitoringofvariousexposurelimitsbytheFrontOfficeSystemalsoasabackup,manualcontrolareimplemented.

pLANS AND OpTIONS

Kindlyreferpageno.2forPlansandOptionsoftheScheme.

AppLICAbLE NAv

Applicable NAv for Subscription / Switch-in

Application Size Applicable NAv

For application amount of Rs. 2Lacs*&above

* Multiple applications (purchaseincluding switch in) Submitted byinvestoronsamedayforthesamescheme, shall be aggregated atinvestorlevel(i.e.Firstholder/SoleHolder) for determination of Rs. 2Lacs.

NAVofthedayonwhichthefundsarerealizedupto3.00P.M.

(Subject to transaction beingtime-stampedupto3p.m.onthedateofrealizationoffunds).

For application amount upto Rs. 2Lacs

If application is time stampedbefore 3 p.m. on any businessday-ApplicableNAVshallbetheclosingNAVofthedateofreceiptoftheapplication.

If application is time stampedafter 3 p.m. on any businessday-ApplicableNAVshallbetheclosingNAVofthenextbusinessday.

Unitholders/Prospective Investors shall note that, after taking intoaccountoftheimpactoftherevisedtradinghoursforvariousmarketsaspertheRBIPressReleasedatedApril03,2020,andsubsequentlyonApril16,2020,onApril30,2020thecut-offtimingforbothsubscriptionandredemptioninallopenendedschemesofmutualfundhasbeenreducedforatemporaryperiodtillfurthernotice.

Incaseofsubscription/SwitchinTransactions:01:00p.m.

IncaseofRedemption/SwitchOutTransactions:01:00p.m

Incaseofswitchtransactions,fundswillbemadeavailableforutilizationin the switch-in-scheme based on the redemption pay-out cycle of theswitchoutscheme.

Redemption / Switch Out: Inrespectofapplicationreceivedupto3p.m.,closingNAVofthedayofreceiptofapplicationshallbeapplicableandinrespectofapplicationreceivedafter3p.m.closingNAVofnextbusinessday.Outstationcheques/demanddraftswillnotbeaccepted.

valid application for “switch out” shall be treated as redemption and for “switch in” shall be treated as purchases and the relevant NAv of “Switch in” and “Switch Out” shall be applicable accordingly.

Above cut off timings shall also be applicable to investments madethrough‘Sweep’mode.

MINIMuM AppLICATION AMOuNT / NuMbER OF uNITS uNDER EACH SCHEME

Name of the Scheme/plan

purchase Additional purchase

Repurchase

lTataLarge&MidCapFund-RegularPlanlTataLarge&MidCapFund-DirectPlan

`5,000/-&inmultiples of`1/-

`1,000/-&inmultiples of`1/-

R e d e m p t i o nrequest can bemade in amountswith a minimumof Rs. 500 or 50units.

DESpATCH OF REpuRCHASE (REDEMpTION) REquEST

Within10workingdaysoftheacceptanceoftheredemptionrequestattheauthorizedcentreofTataMutualFund.

bENCHMARk INDEx

NIFTYLARGEMIDCAP250TRI

DIvIDEND pOLICy

growth Option:

Theincome/profitsreceived/earnedwouldbeaccumulatedbytheFundas capital accretion, aimedat achievingmedium to long termandalsoshorttermcapitalgrowthandreflectedintheNAV.

Dividend Option:

The profits received / earned and so retained and reinvested may bedistributedasIncomeatappropriaterates(afterprovidingforallrelevantongoingexpenses,etc.)andatappropriateintervalsasmaybedecidedbytheAMCand/orTrusteeCompanywillbedistributedtotheunitholderswhoholdtheunitsontherecorddateofdeclarationoftheIncome.TheTrusteeCompanyreservestherighttochangethefrequencyforincomedistributionatitsdiscretion.Guidedbythephilosophyofvalue-orientedreturns,theintentbeingtoprotecttheNetAssetValueoftheSchemeandUnitholders’interests.

Pleasenotethatthedividenddistributionanditsfrequencyissubjecttoavailabilityofdistributablesurplusandatthediscretionofthetrustees

TheFundreservesarighttomodifytheperiodicity&mannerofpayoutofsuchdividendastheydeemfitwithoutgivinganyfurthernoticetounitholders.

TheFunddoesnotassureanytargetedannualreturn/incomenoranycapitalisationratio.

Dividend Reinvestment: Unitholders under this Option also have thefacilityofreinvestmentoftheincomesodeclared,ifsodesired.IncomeDistribution Warrants will not be dispatched to such Unitholders. TheincomedeclaredwouldbereinvestedintheSchemeontheimmediatelyfollowingex-dividenddate.

Dividend Sweep Facility: Under this facility investor can opt forreinvestmentofdividendintoanyotherschemeofTataMutualFund.Thisfacilityisavailableonlyforthoseinvestorswhohaveoptedfordividendreinvestmentfacility.Thisfacilityisnotavailabletothoseinvestorswhohaveoptedfordividendpayoutfacility.Underthisfacility,thenetdividendamount (i.e. net of statutory levy / taxes if any) will be automaticallyinvested on the ex-dividend date into other scheme of TATA MutualFundspecifiedby the investor at theapplicableNAVof that scheme&accordinglyequivalentunitswillbeallotted in lieuofdividend, subjecttothetermsoftheschemes.Theminimumandmaximumamountisnotapplicable for this facility. No entry load or exit loadwill be levied ontheunitsissuedinlieuofdividend.AMCreservestherighttomodifyorwithdrawthisfacilitywithoutpriornotice.

FuND MANAgER

ChandraprakashPadiyar(Equityportfoliomanagingsince03.09.2018)&MeetaShetty(AssistantFundManagerSince01.11.2019)

NAME OF TRuSTEE COMpANy

TataTrusteeCompanyLimited

pERFORMANCE OF THE SCHEMES AS ON 31 MAy, 2020

Due to fundamental changes & change in scheme benchmark, w.e.f01.06.2018,schemeisknownasTataLarge&MidcapFund.

Tata Large & Mid Cap Fund - Regular plan

Compounded Annualised Returns

ReturnsforLast1Year

ReturnsforLast3Years

ReturnsforLast5Years

ReturnsSince

Inception

SchemeReturns% -15.07 -0.43 3.47 11.14

BenchmarkReturns%(S&PBSE500)

-19.18 -1.47 4.27 NA

6

pERFORMANCE OF THE SCHEME OF LAST FIvE FINANCIAL yEARS

TATA LARgE & MID CAp FuND - REguLAR pLAN

Financialyear

Scheme Returns

benchmark Returns

2015-2016 -5.39 -6.42

2016-2017 19.71 25.53

2017-2018 9.59 13.21

2018-2019 7.03 12.06

2019-2020 -20.73 -27.29

ReturnsaregivenforRegularPlangrowth option. Benchmark: S&PBSE200TRI.DateofAllotment:25February,1993.

Returns

2014-15

SchemeReturnsLastFinancialYears

BenchmarkReturns

2015-16 2016-17 2017-18 2018-19-10

0

10

20

30

40

50

60

Additional Disclosure with respect to SEbI Circular: SEbI/HO/IMD/DF2/CIR/2016/42 dated March 18, 2016

Top 10 holdings by issuer as on 31.05.2020

Name of Issuer % Of AuM

RELIANCEINDUSTRIESLTD. 10.79

HDFCBANKLTD. 8.33

ICICIBANKLTD. 6.77

PIINDUSTRIESLTD. 6.45

VARUNBEVERAGESLTD. 5.20

GUJARATSTATEPETRONETLTD. 4.70

TATACONSULTANCYSERVICESLTD. 3.60

SYNGENEINTERNATIONALLTD. 3.56

STATEBANKOFINDIA 3.34

ITCLTD. 3.25

ThemonthlyportfoliooftheSchemeshallbeavailableinauser-friendlyanddownloadableformatonthewww.tatamutualfund.com.

Funds Allocation towards various sectors as on 31.05.2020

Sectors % of AuM

FINANCIALSERVICES 26.89

OIL&GAS 15.49

CONSUMERGOODS 14.00

PHARMA 7.20

FERTILISERS&PESTICIDES 6.45

AUTOMOBILE 6.04

IT 5.33

INDUSTRIALMANUFACTURING 4.71

CONSTRUCTION 1.57

CEMENT&CEMENTPRODUCTS 1.56

TELECOM 1.36

SERVICES 0.73

POWER 0.46

CHEMICALS 0.19

MEDIA&ENTERTAINMENT 0.01

portfolio Turnover Ratio: 0.65 Times for F.y 2019-2020.

ExpENSES OF THE SCHEME

I] Applicable load structure for investments made (as a % of relevant

NAv) Entry Load: Nil. (Entry Load is not applicable, w.e.f. August 01,

2009).

i) Load Structure

Entry Load:N.A.

1) Onorbeforeexpiryof365daysfromthedateofallotment:Ifthe

withdrawalamountorswitchedoutamountisnotmorethan12%of

theoriginalcostofinvestment-NIL

2) Onorbeforeexpiryof365daysfromthedateofallotment:Ifthe

withdrawalamountorswitchedoutamountismorethan12%ofthe

originalcostofinvestment-1%

3) Redemptionafterexpiryof365daysfromthedateofallotment-NIL

Further no load shall be charged on units allotted on reinvestment of

dividend.

GoodsandServicetaxonexit load,ifany,shallbepaidoutoftheexit

loadproceedsandexitloadnetofservicetax,ifany,shallbecreditedto

thescheme.

II] Recurring Expenses

Actual Expenses % to daily net assets for the F.y. 2019-2020

TataLarge&MidCapFundDirect plan Regular plan

0.86% 2.27%

Inadditiontoabove,theinvestorshouldreferwebsiteofTataMutualFund

forthelatestexpenseratiooftheschemes.

Note: Actual expenses is inclusive of additional limit as specified in

sub-regulation (6A) (b) & (c) of regulation 52 of SEBI (Mutual Funds)

Regulations’1996andGoodsandServiceTaxoninvestmentmanagement

fees.

III] Fees and Expenses

ThemaximumrecurringexpensesoftheSchemeisestimatedbelow:

Ref Expenses Head % of Daily Net Assets #

InvestmentManagementandAdvisoryFees

Upto2.25%

Trusteefee

Auditfees

Custodianfees

OtherExpenses

RTAFees

Marketing&Sellingexpenseincl.agentcommission

Costrelatedtoinvestorcommunications

Costoffundtransferfromlocationtolocation

Costofprovidingaccountstatementsanddividendredemptionchequesandwarrants

CostsofstatutoryAdvertisements

Costtowardsinvestoreducation&awareness(atleast2bps)

Brokerage&transactioncostoverandabove12bpsand5bpsforcashandderivativemarkettradesresp.

Goods&Servicestaxonexpensesotherthaninvestmentandadvisoryfees

Goods&Servicestaxonbrokerageandtransactioncost

(a) Maximum total expense ratio (TER) permissible under Regulation 52 (6) (c)

upto 2.25%*

(b) Additionalexpensesunderregulation52(6A)(c) Upto0.05%

(c) Additionalexpensesforgrossnewinflowsfromspecifiedcitiesunderregulation52(6A)(b)

Upto0.30%^

*ExcludingGoods&ServicesTaxoninvestmentandadvisoryfees

# Note: Expenses of Direct plan will be lower than expenses of the Regular plan as no commission/distribution expenses will be charged in the case of Direct plan. All fees and expenses charged in a direct plan (in percentage terms) under various heads including the investment and advisory fee shall not exceed the fees and expenses charged under such heads in a regular plan. NAv of the Direct plan will be different than the NAv of Regular plan.

Incaseofaschemeinvestinvestsaminimumofsixty-fivepercentofitsnetassets inequityandequity related instruments, theschemewillbeconsideredasequityorientedschemefor thepurposeof totalexpenseratio.

The maximum recurring expenses for the scheme shall be subject tofollowinglimits**

a) onthefirstRs.500croresofthedailynetassets:2.25%

b) onthenextRs.250croresofthedailynetassets:2.00%

c) onthenextRs.1250croresofthedailynetassets:1.75%

d) onthenextRs.3000croresofthedailynetassets:1.60%

e) onthenextRs.5000croresofthedailynetassets:1.50%

f) OnthenextRs.40000croresofthedailynetassets:totalexpenseratioreductionof0.05%foreveryincreaseofRs.5000croresofdailynetassetsorpartthereof.

g) onthebalanceoftheassets:1.05%

**in addition to the above the scheme may charge additional limit of 0.05%( subject to applicability of exit load) specified in sub regulation (6A)(c) of Regulation 52 of SEBI (Mutual Funds) Regulations, 1996 excluding tax on investment management & advisory fees and expenses not exceeding of 0.30 per cent of daily net assets as stated in regulation 6A(b) of SEBI ( Mutual Funds) Regulation, 1996.

7

^Expensesnotexceedingof0.30percentofdailynetassets,ifthenewinflows from such cities as specified by SEBI from time to time are atleast:

(i) 30percentofgrossnewinflowsinthescheme,or;

(ii) 15percentoftheaverageassetsundermanagement(yeartodate)ofthescheme,whicheverishigher:

Providedthat if inflowsfromsuchcities is lessthanthehigherofsub-clause(i)orsub-clause(ii),suchexpensesondailynetassetsoftheschemeshallbechargedonproportionatebasis:

Provided further thatexpenseschargedunder thisclauseshallbeutilisedfordistributionexpensesincurredforbringinginflowsfromsuchcities:

Provided further that amount incurred as expense on account ofinflowsfromsuchcitiesshallbecreditedbacktotheschemeincasethesaidinflowsareredeemedwithinaperiodofoneyearfromthedateofinvestment.

Additional TER can be charged based on inflows only from retailinvestors(i.eotherthancorporatesandinstitutions)fromB30citiesas defined in the SEBI circular SEBI/HO/IMD/DF2/CIR/P/2019/42March 25, 2019. Inflows of amount upto Rs.200000/- pertransaction,by individual investors shallbe consideredas inflowsfrom“retailinvestor”.

Notes:

1) 1) Brokerage&transactioncosts(includingtax)whichareincurredforthepurposeofexecutionoftrademaybecapitalisedtotheextentof 12bps and 5bps for cash market transactions and derivatives

transactions respectively. GST on brokerage and transaction costpaid for execution of trades shall be within the limit prescribedunderregulation52oftheSEBI (MutualFunds)Regulations,1996.Any payment towards brokerage and transaction cost, over andabovethesaid12bpsand5bpsforcashmarkettransactionsandderivativestransactionsrespectivelymaybechargedtotheschemewithinthemaximumlimitofTotalExpenseRatio(TER)asprescribedunderregulation52oftheSEBI(MutualFunds)Regulations,1996.

2) AMCshallannuallysetapartatleast2basispointondailynetassetsforinvestor’seducationandawarenessinitiatives.

3) The fund shall update the current expense ratios on thewebsite(www.tatamutualfund.com)at least threeworkingdaysprior to theeffectivedateofthechange.TheexactweblinkforTERishttps://www.tatamutualfund.com/expense-ratio.

4) In case the scheme invests in foreignmutual funds, the fees andexpenseschargedbytheMutualFund(s)inforeigncountriesalongwith themanagement fee and recurring expenses charged to thedomesticmutualfund(s)shallnotexceedthetotallimitsonexpensesasprescribedunderRegulation52.Wheretheschemeis investingonlyapartofthenetassetsintheforeignmutualfund(s),thesameprincipleshallbeapplicableforthatpartofinvestment.

INvESTMENT STRATEgy AND pRODuCT DIFFERENTIATION OF THE SCHEMES

Scheme Name Asset Allocation pattern primary Investment Focus AuM as on 31st May’2020

(Rs. Crore)

No. of Folios as on 31st May ’2020

Tata Mid Cap growth Fund

65%to100%investmentinEquityand equity related instrumentsandupto35%indebtandmoneymarketinstruments.

Primary investment focus on equityand equity related securities of wellresearched growth oriented mid capstocks.

At present we do not have other similar scheme.

709.13 79,134

Tata Large & Mid Cap Fund

LargeCapEquity-35%to65%,MidCap Equity -35% to 65%,OtherEquity/Securities-0%to30%.

Primary focus on investing in equityand equity related instruments ofLarge- Large Cap Equity -35% to65%,MidCapEquity-35%to65%,OtherEquity/Securities-0%to30%


1397.50 1,97,192

Tata Equity p/E Fund 70%to100%investmentinEquityandEquity related –Companieswhose rolling P/E at the timeof investment is lower than therollingP/EoftheS&PBSESENSEXupto30% inotherequitiesandupto30%indebtinstruments.

Primarily at least 70% of the netassets would be invested in equityshareswhoserollingP/Eratioonpastfour quarter earnings for individualcompanies is less than rollingP/EoftheS&PBSESENSEXstocks.


3,994.30 3,04,877

Tata Large Cap Fund 80% to 100% investment inlisted equity & equity relatedinstruments of large and otherequity related instrument. 0%to 20% investment in Debt andMoneyMarketinstruments.

Primarily investment in equity andequity related instruments of largemarketcapcompanies.


633.68 80,852

Tata Multicap Fund 65%to100%investmentinEquityand equity related instrumentsandupto35%in

debt and money marketinstruments.

Theschemewillinvestacrosslargecap,midcapandsmallcap

stocks.LargeCap,MidCap,SmallCapcompaniesasclassifiedbySEBI/AMFI.


1528.32 1,38,129

Tata Small Cap Fund 65%-100%inEquity&Equity

related instrument of small capcompanies,0-35% in equity &equity related instrument ofotherthansmallcapcompaniesor debt or money marketinstrumentorUnitsofREITSandInvITs.

Theschemewillpredominantlyinvestinequityorequityrelatedinstrumentof small capcompanies.Theschemecanalsoinvestsomeportioninotherthansmallcapcompanies.


530.17 40,090

8

INvESTMENT STRATEgy AND pRODuCT DIFFERENTIATION OF THE SCHEMES

Scheme Name Asset Allocation pattern primary Investment Focus AuM as on 31st May’2020

(Rs. Crore)

No. of Folios as on 31st May ’2020

Tata India Tax Savings Fund

Theschemeinvestsatleast80%oftheinvestiblefundsinequity/equityrelatedinstrumentsandbalanceamount(0-20%)indebtandmoneymarketinstruments.

Primarily invest in equity and equityrelated instruments It is an openended equity linked saving schemewithastatutorylockinperiodofthreeyears fromthedateofallotment.Asper theprovisionsofsection80CofIncome Tax Act, 1961, investmentsmade by the Individuals & HUFsin this scheme (along with otherprescribed investments) will qualifyfor a deduction upto Rs. 1.50 LacfromGrossTotalIncome.


1718.99 2,96,911

Tata Focused

Equity Fund

65% to 100% investment inEquity and equity relatedinstruments Subject to overalllimitof30stocksacrossmarketcapitalisation and up to 35%in debt and money marketinstrument

Theschemeaimstogeneratelongtermcapitalappreciationbypredominantlyinvesting in a concentrated portfolioofequity&equityrelatedinstrumentsofmaximum30stocksacrossmarketcapitalisation.

At present we do not have other similar scheme

1121.28 72,911

TAx TREATMENT

The information is provided for general information only. However,

in view of the individual nature of the implications, each investor is

advised to consult his or her own tax advisors with respect to the

specific amountof tax andother implications arisingoutofhisorher

participation in the Scheme.

The Finance Act, 2020 abolished income distribution tax and instead

introduced taxing of income from mutual fund units in the hands of

the unit holders.

Type of Investor Withholding tax rate

Resident 10%*

NRI 20%**

However,TDSrateshasbeenreducedto7.5%fortheperiodbetweenMay14,2020toMarch31,2020.

*TaxnotdeductibleifdividendincomeinrespectofunitsofamutualfundisbelowRs.5,000inafinancialyear.

**Thebasetaxistobefurtherincreasedbysurchargeattherateof:

• 37%onbasetaxwheretotalincomeexceedsRs.5crore;

• 25%wheretotalincomeexceedsRs.2crorebutdoesnotexceedRs.5crore;

• 15%wheretotalincomeexceedsRs.1crorebutdoesnotexceedRs.2crore;and

• 10%wheretotalincomeexceedsRs.50lakhsbutdoesnotexceedRs.1crore

Further,“HealthandEducationCess”istobeleviedat4%onaggregateofbasetaxandsurcharge.

Capital gains Taxation

Resident Investors/NRI’s $

Domestic Company @

Rate of Tax

Tax on Capital gains (payable by the Investors )

Capital gains:LongTermShortTerm

10%*

15%

10%*

15%

*Asper FinanceAct ,2018, levyof income tax at the rateof10%(without indexation benefit) on long term capital gains exceedingRs.1 lakh provided transfer of such units is subject to SecuritiesTransactionTax(STT).

$Surchargetobeleviedat:

• 37%onbasetaxwherespecifiedincomeexceedsRs.5crore;

• 25%where specified income exceeds Rs. 2 crore but does notexceedRs.5crore;

• 15%wheretotalincomeexceedsRs.1crorebutdoesnotexceedRs.2crore;and

• 10%wheretotalincomeexceedsRs.50lakhsbutdoesnotexceedRs.1crore.

Further,HealthandEducationCesstobeleviedattherateof4%onaggregateofbasetaxandsurcharge.

@Surchargeat7%onbasetaxisapplicablewheretotal incomeofdomestic corporate unit holders exceeds Rs 1 crore but does notexceed10croresandat12%wheretotalincomeexceeds10crores.However,surchargeatflatrateof10percenttobeleviedonbasetaxforthecompaniesoptingforlowerrateoftaxof22%/15%.Further,“HealthandEducationCess”tobeleviedattherateof4%onaggregateofbasetaxandsurcharge.

IncaseofNRIinvestors,shortterm/longtermcapitalgaintax(alongwith applicable surcharge and Health and Education Cess will bedeductedatthetimeofredemptionofunitsasperIncomeTaxAct.

Securities Transaction Tax

Securities Transaction Tax (“STT”) is applicable on transactions ofpurchaseorsaleofunitsofanequityorientedfundenteredintoonarecognizedstockexchangeoronsaleofunitsofequityorientedfundtotheFund.TheSTTratesasapplicablearegiveninthefollowingtable:

Taxable securities transaction payable by

Rate(as a % of

value of the transaction)

Purchase/Saleofanequityshareinacompanywherea) thetransactionofsuchpurchase

is entered into in a recognizedstockexchange;and

b) the contract for the purchaseof such share is settled by theactual delivery or transfer ofsuchshare

Purchaser/Seller 0.1%

Purchase of a unit of an equityorientedfund,wherea) thetransactionofsuchpurchase

is entered into in a recognizedstockexchange;and

b) thecontractforthepurchaseofsuchunitissettledbytheactualdeliveryortransferofsuchunit

Purchaser NIL

Sale of a unit of an equity orientedfund,wherea) the transaction of such sale is

entered into in a recognizedstockexchange;and

b) thecontract for the saleofsuchunit is settled by theactual delivery or transferofsuchunit

Seller 0.001%

9

Saleofanequityshareinacompanyoraunitofanequityorientedfundsonnon-deliverybasis

Seller 0.025%

Saleofoptioninsecurities Seller 0.05%

Sale of an option securities, whereoptionisexercised Purchaser 0.125%

Saleinafutureinsecurities Seller 0.01%

Sale of unit of an equity orientedfundtotheMutualFunditself Seller 0.001%

TheFundisresponsibleforcollectingtheSTTfromeverypersonwhosellstheUnittoitattheratementionedabove.TheSTTcollectedbytheFundduringanymonthwillhavetobedepositedwiththeCentralGovernmentbytheseventhdayofthemonthimmediatelyfollowingthesaidmonth.

The information stated above is based on Tata Mutual Fund understanding of the tax laws and only for the purpose of providing general information to the unit holders of the schemes. In view of the individual nature of tax implications, each unit holder is advised to consult with his or her own tax advisors with respect to the specific tax and other implications arising out of the restructuring.

IfanytaxliabilityarisingpostredemptiononaccountofchangeintaxtreatmentwithrespecttoDividendDistributionTax/CapitalGainTax,bythetaxauthorities,shallbesolelybornebytheinvestorsandnotbytheAMCorTrusteeCompany.

For further details on taxation please refer the clause on taxa-tion in SAI.

DAILy NET ASSET vALuE (NAv) pubLICATION

TheNAVswillbecalculatedanddisclosedoneveryBusinessDay.TheAMCwillprominentlydisclosetheNAVsunderaseparateheadonthewebsiteoftheFund(www.tatamutualfund.com)andoftheAssociationofMutualFundsinIndia-AMFI(www.amfiindia.com)by11p.m.oneveryBusinessDay.

InvestormaywritetoAMCforavailingfacilityofreceivingthelatestNAVsthroughSMS.

Illustration of Calculation of Sale & Repurchase price:

AssumedNAVRs.11.00perunit

EntryLoad:NIL

ExitLoad1%

SalePrice=NAV+(EntryLoad(%)*NAV)

SalePrice=11+(0%*11)

SalePrice=11+0

SalePrice=Rs.11/-

RepurchasePrice

RepurchasePrice=NAV–(exitload(%)*NAV)

RepurchasePrice=11–(1%*11)

RepurchasePrice=11–0.11

RepurchasePrice=Rs.10.89

IntheeventNAVcannotbecalculatedand/orpublished,suchasbecauseofthesuspensionofRBIClearing,Bankstrikes,duringtheexistenceofastateofemergencyand/orabreakdownincommunications,theTrusteesmaytemporarilysuspenddeterminationand/orpublicationoftheNAVoftheUnits.

TherepurchasepricewillbeinaccordancewithRegulation49(3)oftheSecuritiesExchangeBoardofIndia(MutualFunds)Regulations,1996,shallnotbelowerthan93%oftheNAVandthesalepriceshallnotbehigherthan107%oftheNAVandthedifferencebetweentherepurchasepriceandsalepriceshallnotexceed7%onthesaleprice.

FOR INvESTOR gRIEvANCES pLEASE CONTACT

Registrar:Computer Age Management Services pvt. Ltd.,No.178/10,KodambakkamHighRoad,Opp.HotelPalmgrove,Nungambakkam,Chennai600034.GSathyanarayanan/VenkateshPaiTel.No.044-39115563,39115565,[email protected]

AMC Office:Ms.KashmiraKalwachwala

1903/B,19thFloor,ParineeCrescenzo,GBlock,BKC.OppositeMCAClubBandra East,Mumbai-400051. Contact No: 022-62827777 (Monday toSaturday-9.00amto5.30pm)Email:[email protected]

uNITHOLDERS’ INFORMATION

Account Statement:Onacceptanceofapplicationforfinancialtransaction,aconfirmationspecifyingthenumberofUnitsallotted/redeemedwillbesent by way of e-mail and/or SMS to the applicant’s registered e-mailaddressand/ormobilenumberwithinfivebusinessdaysfromthedateoftransaction.

Tata Mutual Fund shall send first account statement for a new folioseparatelywithalldetailsregisteredinthefoliobywayofane-mail/and/orSMStotheinvestor’sregisteredaddress/emailaddress/registeredmobilenumbernotlaterthanfivebusinessdaysfromthedateofsubscriptionorbywayofphysicalstatementnotlaterthanfivebusinessdaysfromthedateofreceiptofrequestfromtheunitholder.

In compliance with the Circular No. CIR/MRD/DP/31/2014 datedNovember 12, 2014, Circular No. SEBI/HO/IMD/DF2/CIR/P/2016/42datedMarch18,2016readwithSEBI/HO/IMD/DF2/CIR/P/2016/89datedSeptember20,2016,TataMutualFundwillsendtheConsolidatedAccountStatement(CAS)toinvestorsasfollows:

1. AsingleConsolidatedAccountStatement(CAS)onbasisofPAN(PANofthefirstholder&patternofholding,incaseofmultipleholding)willbedispatchedtounitholdershavingMutualFundinvestments&holdingDemataccountsbyDepositorieswithin tendays from theendofthemonthinwhichtransaction(theword‘transaction’shallinclude all financial transactions in demat accounts/Mutual Fundfoliosoftheinvestor)takesplace.

2. The CASwill not be received by the investors for the folio(s) notupdatedwithPANdetails.TheUnitholdersarethereforerequestedtoensurethatthefolio(s)areupdatedwiththeirPAN.SuchinvestorswillgetmonthlyaccountstatementfromTataMutualFundinrespectof transactions carried out in the schemes of Tata Mutual Fundduringthemonth.

3. Inothercasesi.e.whereunitholdershavingnoDemataccount&onlyMFunitsholding,TataMutualFundshallcontinuetosendtheCASasisbeingsendpresentlywithintendaysfromtheendofthemonthinwhichfinancialtransactiontakesplace.

4. Incasestatementsarepresentlybeingdispatchedbye-maileitherbytheFundortheDepositorythenCASwillbesentthroughemail.HowevertheUnitholdershaveanoptiontoreceiveCASinphysicalformattheaddressregisteredintheDepositorysystem.

5. ThedispatchofCASbyDepositoriestoUnitholderswouldconstitutecompliance by Tata Asset Management Ltd/the Fund with therequirements under Regulation 36(4) of SEBI (Mutual Funds)Regulations1996.

6. EachCASissuedtotheinvestorsshallalsoprovidethetotalpurchasevalue/costofinvestmentineachscheme.

7.IncaseifnotransactionhastakenplaceinafolioduringtheperiodofsixmonthsendedSeptember30andMarch31,theCASdetailingtheholdingsacrossallschemesofallmutualfunds,shallbeemailedonhalfyearlybasis,onorbeforethetenthdayofsucceedingmonth,unless a specific request ismade to receive the same in physicalform.

8. Half-yearlyCASshallbeissuedtoallMutualFundinvestors,excludingthose investorswhodonothaveanyholdings inMFschemesandwhere no commission against their investment has been paid todistributors, during the concerned half-year period. Further, CASissuedforthehalf-year(September/March)shallalsoprovide:

a. TheamountofactualcommissionpaidbyTataAMC/MutualFundtodistributors(inabsoluteterms)duringthehalf-yearperiodagainstthe concerned investor’s total investments in each mutual fundscheme.The term“commission”here refers toalldirectmonetarypaymentsandotherpaymentsmadeintheformofgifts/rewards,trips, event sponsorships etc. by Tata AMC/MF to distributors.Further, amentionmay bemade in such CAS indicating that thecommission disclosed is gross commission and does not excludecosts incurred by distributors such as service tax (whereverapplicable,asperexistingrates),operatingexpenses,etc.

b. The scheme’s average Total Expense Ratio (in percentage terms)along with the break up between Investment and Advisory fees,Commission paid to the distributor and Other expenses for theperiodforeachscheme’sapplicableplan(regularordirectorboth)wheretheconcernedinvestorhasactuallyinvestedin.

Official points of Acceptance of Transaction through MF utility:TataMutualFundhasenteredintoanagreementwithMFUtilitiesIndiaPrivateLimited(“MFUI”),a“CategoryII-RegistrartoanIssue”underSEBI(RegistrarstoanIssueandShareTransferAgents)Regulations,1993,forusageofMFUtility(“MFU”)-asharedservicesinitiativeofvariousassetmanagementcompanies, which acts as a transaction aggregator for transacting inmultipleschemesofvariousmutualfundswithasingleformandasinglepayment instrument.Accordingly,all theauthorizedPointofSales(POS)and website/mobile application of MFUI (available currently and alsoupdatedfromtimetotime)shallbeeligibletobeconsideredas‘officialpointsofacceptance’forallfinancialandnon-financialtransactionsintheschemesofTataMutualFundeitherphysicallyorelectronically.ThelistofPOSofMFUIispublishedonthewebsiteofMFUIatwww.mfuindia.com.

10

Applicability ofNAV shall be based on time stamping as evidenced byconfirmationslipgivenbyPOSofMFUIandalsotherealizationoffundsintheBankaccountofTataMutualFund(andNOTthetimeofrealizationoffundsintheBankaccountofMFUI)withintheapplicablecut-offtiming.TheUniformCut-offtimeasprescribedbySEBIandmentionedintheSID/KIMshallbeapplicableforapplicationsreceivedthroughsuchfacilities.

Investorsarerequestedtonote thatMFUIwillallotaCommonAccountNumber (“CAN”) i.e. a single reference number for all investments inthemutualfundindustryfortransactinginmultipleschemesofvariousmutualfundsthroughMFUandtomapexistingfolios, ifany. InvestorscancreateaCANbysubmittingtheCANRegistrationFormandnecessarydocumentsatthePOS.TheAMCand/oritsRegistrarandTransferAgentshallprovidenecessarydetailstoMFUIasmaybeneededforprovidingtherequiredservicestoinvestors/distributorsthroughMFU.InvestorsarerequestedtovisitthewebsiteofMFUIi.e.www.mfuindia.comtodownloadtherelevantforms.

For any queries or clarifications related to MFU, please contact theCustomer Care ofMFUI on 1800-266-1415 (during the business hourson all days except Sunday and public holidays) or send an [email protected].

Pursuant to Association ofMutual Funds in India (AMFI) Best PracticesGuidelinesCircularNo.48/2014-15datedJune24,2014ontheprocessfordealingwithapplicationswheretheschemenameintheApplicationForm/TransactionSlip&paymentinstrumentdiffershasbeenstandardized.

Incaseoffresh/additionalpurchases,ifthenameofaparticularSchemeon the application form/transaction slip differs from the name of thescheme on the Payment instrument, the application will be processed& units allotted at applicable NAV of the scheme mentioned in theapplicationform/transactionslipdulysignedbyinvestor(s).

Tata Asset Management Ltd. (AMC) reserves the right to call forother additional documents as may be required, for processing suchtransactions.TheAMCalsoreservestherighttorejectsuchtransactions.

TheAMCthereaftershallnotberesponsibleforanylosssufferedbytheinvestor due to thediscrepancy in the schemenamementioned in theapplicationform/transactionslipandpaymentinstrument.

Transaction Charge: PursuanttoSEBICircularNo.Cir/IMD/DF/13/2011datedAugust22,2011,transactionchargepersubscriptionofRs.10,000/-andabovebeallowedtobepaid to thedistributorsof theTataMutualFundproducts.Thetransactionchargeshallbesubjecttothefollowing:1. There shall be no transaction charges on direct investments.2. ForexistinginvestorsinaMutualFund,thedistributormaybepaidRs.100/-astransactionchargepersubscriptionofRs.10,000/-andabove.3.ForfirsttimeinvestorinMutualFunds,thedistributormaybepaidRs.150/-astransactionchargeforsubscriptionofRs.10,000/-andabove.4.ThetransactionchargeshallbedeductedbytheAMCfromthesubscriptionamountandpaidtothedistributorandthebalanceamountshallbeinvested.5. The statement of account shall clearly state that thenet investmentas gross subscription less transaction charge and give the number ofunitsallottedagainstthenetinvestment.6.Thereshallbenotransactioncharge on subscription below Rs. 10,000/-.7. In case of SystematicInvestmentPlan(s),thetransactionchargeshallbeapplicableonlyifthetotal commitment through SIPs amounts toRs. 10,000/- and above. Insuchcasesthetransactionchargeshallberecoveredinfirst3/4successfulinstallments.8.Thereshallbenotransactionchargeontransactionsotherthanpurchases/subscriptionsrelatingtofresh/additionalpurchase.

The transaction charges would be deducted only in respect of thosetransactionswheretheconcerndistributorhasoptedforoptinforlevyingtransactioncharge.Incasedistributorhaschosen‘OptOut’ofchargingthe transaction charge, no transaction chargewouldbededucted fromtransactionsregistered.Itmayfurtherbenotedthatdistributorsshallalsohavetheoptiontoeitheroptinoroptoutoflevyingtransactionchargebasedontypeoftheproduct.

GoodsandServicetaxonexit load,ifany,shallbepaidoutoftheexitloadproceedsandexitloadnetofservicetax,ifany,shallbecreditedtothescheme.

SEBICirculardatedSept13,2012hasdirectedmutualfundstocapturethe unique identity number(EUIN) of the employee/sales person of thedistributor interacting with the investor for the sale of mutual fundsproductsinadditiontothevalidAMFIregistrationnumber(ARN)codeofthedistributor,ARNcodeofthesubbroker.Intheinterestoftheinvestorsitisurgedtoensurethatthebox/spaceprovidedforEUINnumber,ARNcodefordistributorandARNcodeofthesubbrokerintheapplicationformtobeproperlyfiledup.Itisout-mostimportanttoprovidetheEUINnumberparticularlyinadvisorytransactions,whichwillassistintacklingtheproblemofmis-sellingeven if the employee/relationshipmanager/sales person onwhose advice the transactionwas executed leaves theemploymentofthedistributororhis/hersubbroker.

The Fund will disclose details of the investor’s account and all histransactionstotheintermediarieswhosestampappearsontheapplicationform. In addition, the fundwill disclose details as necessary, to theFund’sandinvestor’sbankers,forthepurposeofeffectingpaymentstothe investor. Further, investors’may also be disclosed toGovernmentAuthoritiessuchasincometaxauthorities,SEBI,etc.

Theunitholdermayrequestforaphysicalaccountstatementbywriting/callingtheAMC/ISC/R&T.

portfolio Disclosure: TataMutual Fundwill disclose portfolio (alongwithISIN)inuserfriendly&downloadablespreadsheetformat,asonthelastdayofthemonth/halfyearforalltheirschemesonitswebsitewww.tatamutualfund.com&onthewebsiteofAMFIwww.amfiindia.comwithin10daysfromthecloseofeachmonth/halfyear.Incaseofunitholderswhoseemailaddressesareregistered,TataMutualFundwillsendviaemailboththemonthly&halfyearlystatementofschemeportfoliowithin10daysfromthecloseofeachmonth/halfyearrespectively.

TataMutual Fundwill publish an advertisement every half-year, in theall Indiaeditionofatleasttwodailynewspapers,oneeachinEnglish&Hindi,disclosingthehostingofthehalfyearlystatementoftheschemesportfolioontheAMC’swebsitewww.tatamutualfund.com&onthewebsiteofAMFI(www.amfiindia.com).TataMutualFundwillprovidephysicalcopyofthestatementofschemeportfoliowithoutanycost,onspecificrequestreceivedfromaunitholder.

unaudited Financial Results: TataMutualFund/TataAssetManagementLtdshallwithinonemonthfromthecloseofeachhalfyear,thatison31stMarch&on30thSeptember,hostasoftcopyof itsunauditedfinancialresultsonitswebsite.

Tata Mutual Fund / Tata Asset Management Ltd shall publish anadvertisement disclosing the hosting of such financial results on theirwebsite,inatleastoneEnglishdailynewspaperhavingnationwidecirculation&inanewspaperhavingwidecirculationpublishedinthelanguageoftheregionwheretheHeadOfficeofthefundissituatedintheformatspecifiedinTwelfthScheduleofSEBI(MutualFunds)Regulations1996.

Annual Report: Annual report or Abridged Summary, in the formatprescribedbySEBI,willbehostedonAMC’swebsitewww.tatamutualfund.comandon thewebsiteofAMFIwww.amfiindia.com.Theschemewiseannualreportoranabridgedsummarythereof,intheformatprescribed,shallbesentbywayofe-mailtotheinvestor’sregisterede-mailaddressnotlaterthanfourmonthsfromthedateofclosureoftherelevantaccountsyear.

Investorswhohavenotregisteredtheiremail id,willhaveanoptionofreceivingaphysicalcopyoftheAnnualReportorAbridgedSummarythereof.TataMutualFundwillprovideaphysicalcopyoftheabridgedsummaryoftheAnnualReport,withoutcharginganycost,onspecificrequestreceivedfromaunitholder.Physicalcopiesofthereportwillalsobeavailabletotheunitholdersattheregisteredofficesatalltimes.TataMutualFundwillpublishanadvertisementeveryyear,intheallIndiaeditionofatleasttwodailynewspapers,oneeachinEnglishandHindi,disclosingthehostingoftheschemewiseannualreportontheAMCwebsite(www.tatamutualfund.com)andonthewebsiteofAMFI(www.amfiindia.com).

The timelines for filing scheme annual reports for the year 2019-20 isextendedbyonemonthi.e.tillAugust31,2020.

Eligibility for application

The following persons (subject, wherever relevant to, Sale of Unitsbeingpermittedunder their respective constitutions and relevant StateRegulations)areeligibletoapplyforthepurchaseoftheUnits:

• Adultindividuals,eithersinglyormorethanone(notexceedingthree)onfirstholderbasisorjointlyonaneitherorsurvivor/anyonebasis.

• Parents,orotherlawfulGuardiansonbehalfofMinors.AMCwillfollowuniformprocess ‘in respect of investmentsmade in the nameof aminorthroughaguardian’bySEBIvidecircularnoSEBI/HO/IMD/DF3/CIR/P/2019/166datedDecember24,2019.

• Companies,corporatebodies,publicsectorundertakings,trusts,wakfboardsorendowments,funds,institutions,associationsofpersonsorbodiesof individualsandsocieties (includingco-operative societies)registeredundertheSocietiesRegistrationAct,1860(solongasthePurchaseofUnitsispermittedundertheirrespectiveconstitutions).

• MutualFunds(includinganySchememanagedbyAMCoranySchemeofanyotherMutualFund);(inaccordancewithRegulation44(1)readwithClause4ofScheduleVII,oftheSecuritiesandExchangeBoardofIndia(MutualFunds)Regulations,1996).

• AssetManagementCompanies(inaccordancewithRegulation25(17)oftheSecuritiesandExchangeBoardofIndia(MutualFunds)Regulations,1996)includingaFundofFundschemes.

• Partnershipfirms,inthenameofthepartners.

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• HinduUndividedfamilies(HUF)inthesolenameoftheKarta.

• FinancialandInvestmentInstitutions/Banks.

• Army/Navy/AirForce,paramilitaryUnits&othereligibleinstitutions.

• ReligiousandCharitableTrustsprovidedtheseareallowedtoinvestasperstatuteandtheirby-laws.

• ScientificandIndustrialResearchorganisations(solongasthePurchaseofUnitsispermittedundertheirrespectiveconstitutions)

• Provident/Pension(Gratuity/Superannuation&suchotherretirement&employeebenefit&othersimilarfunds(solongasthePurchaseofUnitsispermittedundertheirrespectiveconstitutions.)

• Non-residentIndians/personsofIndianoriginresidingabroad(NRIs)onafullrepatriationbasisoronnon-repatriationbasis.

• Foreign Portfolio Investor (FPI) as defined under Regulation 2 (1)(h) Securities ExchangeBoardof India (ForeignPortfolio Investors)Regulations,2014,subjecttoSEBI/RBIeligibilitycriteria.

• Overseas Financial Organisations which have entered into anarrangement for investment in India, inter-alia,with aMutual FundregisteredwithSEBIandwhicharrangementisapprovedbytheCentralGovernment.

• InternationalMultilateral Agencies approvedby theGovernment ofIndia.

Compliance under Foreign Account Tax Compliance Act (FATCA) regulations:

UnitedStatesofAmerica(US)hasintroducedchapterno.4intheUSInternalRevenueCodeasapartoftheHiringIncentivestoRestoreEmployment(HIRE)Act,whichwasenactedbytheUSlegislaturetocreateemploymentopportunitiesinUS.TheHIREActincludesForeignAccountTaxComplianceAct(FATCA),whichnowformsapartoftheUS-IRCode.TheregulationsforFATCAhaveundergonerevisionsince2010andthefinalregulationsmaketheFATCAprovisionseffectivefromJuly1,2014.

TheobjectiveofFATCAistodetect“USPersons”,whoevadeUStaxesbyusingfinancialaccountmaintainedoutsideUS.TheUSpersonsaredefinedas thosewho have either US citizenship or US residency. The FATCAstipulatesreportingon-

i. UStaxpayersaboutcertainforeignfinancialaccountsandoffshoreassets.

ii. Foreign Financial Institutions (FFIs) about financial accountswiththemofUStaxpayersorforeignentitiesinwhichUStaxpayersholdsubstantialownershipinterest.

FFIs(includingmutualfundsinIndia)arerequiredtoperiodicallyreportinformation on accounts of US persons,whomaintain balances aboveathreshold.Intheeventofadefaultinthereportingofinformationonaccounts of US taxpayers, awithholding of 30% of the paymentmadefromUSsourceswillbeimposedontherecalcitrantaccountholdersandnon-participating Financial Institutions. SEBI vide its circular no. CIR/MIRSD/2/2014datedJune30,2014,hasadvisedthatGovernmentofIndiaandUSGovernmenthavereachedanagreementinsubstanceonthetermsofanInter-GovernmentalAgreement(IGA)toimplementFATCAandIndiaisnowtreatedashavinganIGAineffectfromApril11,2014.TataAssetManagementLimited(TAML)isclassifiedasaForeignFinancialInstitution(FFI)undertheFATCAprovisionsandinaccordancetherewith,theAMCwouldberequiredtocomplywiththerules&regulationsofFATCA,fromtimetotime.

InordertoensurecompliancewithFATCAandotherrules/directions/notificationsasmaybeissuedbyGovernmentofIndiaorotherregulatoryauthority,MutualFundsarerequiredtoinstituteaprocesstoidentifyUSPersoninvestorsandreportthesame.

Applicantsarerequiredtorefertothe“FATCAinformation”sectionintheapplicationandmandatorilyfill/signoffonthesame.Applicationswithoutthis information/declarationbeingfilled/signedoffwillbedeemedasincompleteandareliabletoberejected.Investorsarerequestedtoprovideinformationrequiredbytheregulatoryauthorityandmayundergochangesonreceiptofcommunication/guidelinesfromGovernmentofIndiaorAMFIorSEBIoranyotherregulatoryauthority.

With the change in guidelines, investorsmay be called for additionalinformationrequiredbythelaw.InvestorsarerequestedtokeepMutualFundupdatedwithchangeininformationalreadysubmittedbythemwithMutualFund.

Common Reporting Standard (CRS)

On similar lines of FATCA, theOrganization of EconomicDevelopment(OECD), alongwith the G 20 countries, of which India is amember,has released a ‘Standard for Automatic Exchange of Financial AccountInformationinTaxmatters’.Inordertocombattheproblemofoffshoretaxevasion

andavoidanceandstashingofunaccountedmoneyabroad,theG20&OECDcountrieshavetogetherdevelopedacommonreportingstandard(CRS)onautomaticexchangeofinformation(AEOI).OnJune3,2015IndiahasjoinedtheMultilateralCompetentAuthorityAgreement(MCAA)onAEOI.TheCRSonAEOIrequiresthefinancial institutionsofthe‘source’ jurisdictiontocollectandreportinformationtotheirtaxauthoritiesaboutaccountholders‘resident’inothercountries.Theinformationtobeexchangedrelatesnotonlytoindividuals,butalsotoshellcompaniesandtrustshavingbeneficialownershiporinterestinthe‘resident’countries.

InviewofIndia’scommitmenttoimplementtheCRSonAEOIandalsotheIGAwithUSAandwithaviewtoprovideinformationtoothercountriesnecessarylegislativechangeshasalreadybeenmadeinFinanceAct&byinsertingRules114Fto114HandForm61BtoprovidealegalbasisfortheReportingFinancial Institutions (RFIs) formaintainingandreportinginformationaboutthereportableaccounts.

Applicantsarerequiredtorefertothe“FATCA/CRSinformation”sectionintheapplicationandmandatorilyfill/signoffonthesame.Applicationswithoutthisinformation/declarationbeingfilled/signedoffwillbedeemedasincompleteandareliabletoberejected.Investorsarerequestedtonotethat thecontentsof the information tobeprovided/declaration in theapplicationformmayundergoachangeonreceiptofcommunication/guidelinesfromGovernmentofIndiaorAMFIorSEBIoranyotherregulatoryauthority.

With the change in guidelines, investorsmay be called for additionalinformationrequiredbythelaw.InvestorsarerequestedtokeepMutualFundupdatedwithchangeininformationalreadysubmittedbythemwithMutualFund.FATCAprovisionsarerelevantnotonlyaton-boardingstageofinvestor(s)/unitholder(s)butalsothroughoutthelifecycleofinvestmentwith the Fund/theAMC. In view of this, Investors should immediatelyintimatetotheFund/theAMC,incaseofanychangeintheirstatuswithrespecttoFATCA/CRSrelateddeclarationprovidedbythempreviously.

Investors(s)/Unit holder(s) should consult their own tax advisors tounderstandtheimplicationsofFATCA/CRSprovisions/requirements.

Applicants who cannot Invest: • Apersonwhofallswithinthedefinitionoftheterm“U.S.Person”undertheUSSecuritiesActof1933,andcorporationsorotherentitiesorganisedunderthelawsoftheU.S.•ApersonwhoisresidentofCanada•OCB(OverseasCorporateBodies)asdefinedunderIncomeTaxAct,1961andunderForeignExchangeManagementAct,1999.

TheFundreservestherighttoinclude/excludenew/existingcategoriesof investors to invest in thescheme from time to time, subject toSEBIRegulationsandotherthanprevailingstatutoryregulations,ifany.

How to apply:

kyC procedure: SEBI vide Circular no. CIR/MIRSD/66/2016 dated July21, 2016 and circular no. CIR/MIRSD/120/2016 dated November 10,2016hasintimatedabouttheoperationalizationofCentralKYCRecordsRegistry(“CKYCR”).

AMFIvideBestPracticeGuidelinecircularno.135/BP/68/2016-17datedDecember 22, 2016 has prescribed guidelines including Central KYC(“CKYC”)formsforimplementingtheCKYCnorms.

Inthisregard,anyindividualcustomerwhohasnotdoneKYCundertheKYCRegistrationAgency(KRA)regimeshallfillthenewCKYCform.

IfsuchnewcustomerusestheoldKRAKYCform,suchcustomerwouldeitherfillthenewCKYCorprovideadditional/missinginformationintheSupplementaryCKYCform.

Non-IndividualInvestorstousetheexistingKYCformsforKYCprocess.

Applicationformscompleteinallrespects,accompaniedbyorcheque/draftaretobesubmittedtoanyoftheAuthorisedInvestorServiceCentres,asstatedintheschemeinformationdocumentorasmaybedecidedbyAMC fromtime to tme.All chequesandbankdraftsaccompanying theapplicationformshouldcontaintheapplicationformnumberandthenameoftheapplicantonitsreverse.Foradditionalinstructions,investorsarerequested to followtheapplication formcarefully.All cheques/ drafts by the applicants should be made out in favour of “The name of the scheme” and crossed “A/c payee and Not Negotiable”.

InvestorssubscribingunderDirectPlanofaSchemewillhavetoindicate“DirectPlan”againsttheschemenameintheapplicationforme.g.“Scheme Name – Direct plan”. Investorsshouldalsoindicate“Direct” intheARNcolumnoftheapplicationform.

For Existing Investments:Investorswishingtotransfertheiraccumulatedunit balance held under Existing Plan (through lumpsum / systematicinvestmentsmadewithorwithoutDistributorcode)toDirectPlanwillhavetoswitch/redeemtheirinvestments(subjecttoapplicableExitLoad,ifany)&applyunderDirectPlan.

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Investorswhohave investedwithoutDistributor code&haveopted forDividend Reinvestment facility under Existing Planmay note that thedividendwillcontinuetobereinvestedintheExistingPlanonly.

Applicationform(dulycompleted),alongwithacheque(drawnonChennai)/DD(payableatChennai)mayalsobesentbyMaildirectlytotheRegistrarviz.ComputerAgeManagementServices(Private)Limited,Unit:TataMutualFund,No. 178/10, KodambakkamHigh Road, Opp. Hotel Palmgrove,Nungambakkam,Chennai600034.

If there is no Authorised Investor Service Centres where the investor resides, he/she may purchase a Demand Draft from any other bank in favour of “The name of the scheme” and crossed “A/c payee and Not Negotiable” respectively payable at Chennai, after deducting bank charges / commission (not exceeding charges prescribed by State bank of India) from the amount of investment. If suchbankcharges/commissionarenotdeductedbytheapplicant,thenthesamemaynotbereimbursed.However incaseofapplicationalongwith localChequeor BankDraft payable atMumbai, at / from locationswhere TMF hasitsdesignatedAuthorised InvestorServiceCentres,BankDraftcharges/commissionmay have to be borneby the applicant. In such cases theTrusteeCompanyisentitled,initssoleandabsolutediscretion,torejectoracceptanyapplication.

Option to hold units in dematerialized (demat) form:W.e.f.01January,2012optiontoholdUnitsindematerialized(demat)formisavailableforsubscriptionbywayofSIP,alsoinallschemesofTataMutualFund(exceptforsubscriptioninPlans/Optionswheredividenddistributionfrequencyis less thanonemonth). In caseof SIP, unitswill be allottedbasedontheapplicableNAVasperrespectiveSID&willbecreditedto investorsDematAccountonweeklybasisonrealisationoffunds.Investorsoptingforallotmentofunitsindematformshallmentiondemataccountdetailsintheapplicationform.

Forrestrictiononacceptanceofthirdpartypaymentsforsubscriptionofunitsofschemes,kindlyreferapplication/instructionform.

Subscription by NRIs

IntermsofSchedule5ofNotificationno.FEMA20/2000datedMay3,2000,RBIhasgrantedgeneralpermissiontoNRIstopurchase,onarepatriationbasisunitsofdomesticmutualfunds.Further,thegeneralpermissionisalsograntedtoNRIstoselltheunitstothemutualfundsforrepurchaseor for the payment ofmaturity proceeds, provided that the units havebeenpurchasedinaccordancewiththeconditionssetoutintheaforesaidnotification.Forthepurposeofthissection,theterm“mutualfunds”isasreferredtoinClause(23D)ofSection10ofIncome-TaxAct1961.However,NRIinvestors,ifsodesired,alsohavetheoptiontomaketheirinvestmentonanon-repatriablebasis.

Subscription by FpI

Foreignportfolioinvestor(FPI)meansapersonwhosatisfiestheeligibilitycriteriaprescribedunderregulation4andhasbeenregisteredunderChapterIIofSEBI(ForeignPortfolioInvestors)Regulations,2014,providedthatanyforeigninstitutionalinvestororqualifiedforeigninvestorwhoholdsavalidcertificateofregistrationshallbedeemedtobeaforeignportfolioinvestortilltheexpiryoftheblockofthreeyearsforwhichfeeshavebeenpaid.

Nopersonshallbuy,sellorotherwisedealinsecuritiesasaforeignportfolioinvestor unless it has obtained a certificate granted by the designateddepositoryparticipantonbehalfofSEBI.

Under SEBI (Foreign Portfolio Investors) Regulations, 2014 FPI (FII/SubAccountofFII)areallowedtoinvestinUnitsofschemesfloatedbydomesticmutualfunds,whetherlistedonarecognizedstockexchangeornot;subjecttocomplianceoftheinvestmentlimitsandtermsandconditionsasmaybespecifiedbySEBI/RBI.

Mode of payment on Repatriation basis

NRIs

IncaseofNRIsandpersonsofIndianoriginresidingabroad,paymentmaybemadebywayofIndianRupeedraftspurchasedabroadandpayableatMumbai or byway of cheques drawnonNon-Resident (External) (NRE)AccountspayableatparatMumbai.PaymentscanalsobemadebymeansofrupeedraftspayableatMumbaiandpurchasedoutoffundsheldinNRE/FCNRAccounts.

IncaseIndianrupeedraftsarepurchasedabroadorfromForeignCurrencyAccountsorNon-residentRupeeAccountsanaccountdebitcertificatefromtheBankissuingthedraftconfirmingthedebitshallalsobeenclosed.

FpIs (which are deemed FpI)

FPIsmaypaytheirsubscriptionamountseitherbywayofinwardremittancethroughnormalbankingchannelsoroutoffundsheldinForeignCurrencyAccount or Non-resident Rupee Accountmaintained by the FPIwith adesignatedbranchofanauthorizeddealerwiththeapprovalof theRBIsubjecttothetermsandconditionssetoutintheaforesaidnotification.

Mode of payment on Non-Repatriation basis

IncaseofNRIs/PersonsofIndianoriginseekingtoapplyforUnitsonanon-repatriationbasis,paymentsmaybemadebycheques/demanddraftsdrawnoutofNon-ResidentOrdinary(NRO)accounts/Non-ResidentSpecialRupee(NRSR)accountsandNonResidentNon-Repatriable(NRNR)accountspayableatthecitywheretheApplicationFormisaccepted.

Refunds, interestandotherdistribution (ifany)andmaturityproceeds/repurchasepriceand/orincomeearned(ifany)willbepayableinIndianRupeesonly.Thematurityproceeds/repurchasevalueofunitsissuedonrepatriationbasis,incomeearnedthereon,netoftaxesmaybecreditedtoNRE/FCNRaccount(detailsofwhichshouldbefurnishedinthespaceprovided for this purpose in theApplication Form) of the non-residentinvestororremittedtothenon-residentinvestor.SuchpaymentsinIndianRupeeswillbeconverted intoUSdollarsor intoanyothercurrency,asmaybepermittedbytheRBI,attherateof exchangeprevailingatthetimeofremittanceandwillbedispatchedthroughRegisteredPostattheunitholders risk.TheFundwillnotbe liable forany lossonaccountofexchange fluctuations,while converting the rupee amount inUS dollaror any other currency. Credit of such proceeds toNRE/FCNR accountor remittance thereofmay be permitted by authorized dealer only onproductionofacertificatefromtheFundthattheinvestmentwasmadeoutofinwardremittanceorfromtheFundsheldinNRE/FCNRaccountoftheinvestormaintainedwithanauthorizeddealerinIndia.However,thereisnoobjectiontocreditofsuchproceedstoNRO/NRSRaccountof theinvestorifhesodesires.

SubscriptionbyMultilateralFundingAgencies,onfullrepatriationbasis,issubjecttoapprovalbytheForeignInvestmentPromotionBoard.

Rejection of applications

Applicationsnot complete in any respect are liable tobe rejected.TheTrusteeCompanymayrejectanyapplicationnotinaccordancewiththetermsoftheScheme.

Documents to be submitted

In the case of applications under power of Attorney

Ifanyapplicationoranyrequestfortransmissionissignedbyapersonholding a valid Power of Attorney, the original Power of Attorney or acertifiedcopydulynotarisedshouldbesubmittedwiththeapplicationorthetransmissionrequest,asthecasemaybe,unlessthePowerofAttorneyhasalreadybeenregisteredwiththeFund/Registrar.

InthecaseofapplicationsbylimitedCompanyoracorporatebodyoraneligibleinstitutionoraregisteredsocietyoraTrustoraFundoraFII,etc.

InthecaseofapplicationsbylimitedCompanyoracorporatebodyoraneligibleinstitutionoraregisteredsocietyoratrustorafundoraFII,acertifiedtruecopyoftheBoardresolutionofthemanagingbodyauthorisinginvestmentsinUnitsincludingauthoritygrantedinfavouroftheofficialssigningtheapplicationforUnits&theirspecimensignatureetc.alongwithacertifiedcopyoftheMemorandum&ArticlesofAssociation&/orbye-laws&/ortrustdeed&/orpartnershipdeed&CertificateofRegistrationshouldbesubmitted.Theofficialsshouldsigntheapplicationundertheofficialdesignation.InthecaseofaTrust/Fund,itshallproducearesolutionfromtheTrustee(s)authorisingsuchpurchases.

TheabovementioneddocumentsordulycertifiedcopythereofmustbelodgedseparatelyattheofficeoftheRegistrartotheOffer,quotingtheserialnumberoftheapplication.

Incaseofnonsubmissionoftheabovementioneddocuments,theTrusteeCompanyisentitled,initssoleandabsolutediscretion,torejectoracceptanyapplication.

Transactions through online facilities / electronic modes: Thetimeoftransactiondonethroughvariousonlinefacilities/electronicmodesofferedbytheAMC,forthepurposeofdeterminingtheapplicabilityofNAV,wouldbethetimewhentherequestforpurchase/sale/switchofunitsisreceivedintheserversofAMC/RTA.Incaseoftransactionsthroughonlinefacilities/electronicmodes,themovementoffundsfromtheinvestors’bankaccounttotheScheme’sbankaccountmayhappenviatheIntermediary/AggregatorserviceproviderthroughaNodalbankaccountandpostreconciliationoffund.Theprocessofmovementoffundsfromtheinvestors’bankaccountintotheScheme’sBankaccountincaseofonlinetransactionisgovernedbyReserveBankofIndia(RBI)videtheircircularRef.RBI/2009-10/231DPSS.CO.PD.No.1102/02.14.08/2009-10 dated 24th November, 2009. TheprocessfollowedbytheaggregatorandthetimelineswithinwhichtheFundsarecreditedintotheScheme’sbankaccountiswithinthetimelinesprovidedbyRBIwhichisT+3settlementcycle/businessdays,whereTisthedateofTransaction/dayofintimationregardingcompletionoftransaction.Thenodalbankaccountasstatedaboveisaninternalaccountofthebankandsuchaccountsarenotmaintainedoroperatedbytheintermediary/aggregatororbytheMutualFund.WhilethemovementofFundsoutoftheinvestors’BankaccountmayhavehappenedonTday,howeverpost

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reconciliationandasperstatutorynormstheallotmentcanhappenonlyonavailabilityofFundsforutilizationbytheAMC/MFandaccordinglythetransactionwillprocessedaspertheapplicableNAVbasedonavailabilityoffundsforutilization.ThislagmayimpacttheapplicabilityofNAVfortransactionswhereNAVis tobeapplied,basedonactualrealizationoffundsbytheScheme.UndernocircumstanceswillTataAssetManagementLimitedoritsbankersoritsserviceprovidersbeliableforanylag/delayinrealizationoffundsandconsequentpricingofunits.TheAMChastherighttoamendcutofftimingssubjecttoSEBI(MF)Regulationsforthesmooth&efficientfunctioningoftheScheme(s).

TRANSACTION THROugH STOCk ExCHANgE pLATFORM

Tata Mutual Fund has signed an agreement with bSE & NSE for allowing transactions in the Scheme through stock exchange platform.

The schemes covered in this KIM are admitted on the order routingplatformof Bombay Stock Exchange Limited (“BSE”) andNational StockExchangeofIndiaLimited(“NSE”).Underthisfacilityinvestorscansubmittheapplicationforsubscriptionandredemptionofunitsof theschemethough the Stock Exchange platform. The introduction of this facilityis pursuant to guidelines issued by SEBI vide circular SEBI/IMD/CIRNo.11/183204/2209datedNovember13,2009andtheStockExchangesviz.BSE&NSE.

The following are the salient features of the new facility introduced for the benefit of investors:

1)This facility i.e.purchases (Lumpsum&SIP)/redemptionofunitswillbeavailabletobothexisting&newinvestors.Switchingofunitswillnotbe permitted through stock exchange platform. 2) The investors willbe eligible to purchase /redeem units of the aforesaid schemes. Thelist of eligible schemes is subject to change from time to time.3) AlltradingmembersofBSE&NSEwhoareregisteredwithAMFIasMutualFundAdvisors&whohave signedupwithTataAssetManagement Ltd& also registered with BSE & NSE as Participants (“AMFI certified stockexchange brokers”) will be eligible to offer this facility to investors. Inorder to facilitate transactions inmutual fund units through the stockexchangeinfrastructure,BSEhasintroducedBSEStARMFPlatform&NSEhasintroducedMutualFundServiceSystem(MFSS).4)TheunitsofeligibleSchemesarenotlistedonBSE&NSE&thesamecannotbetradedontheStock Exchange like shares. Thewindow for submission of applicationforpurchase/redemptionofunitsonBSE&NSEwillbeavailablebetween9a.m.&3p.m.orsuchother timingsasmaybedecidedbytheStockExchanges.5)TheeligibleAMFIcertifiedstockexchangebrokerswillbeconsideredasOfficialPointsofAcceptance(OPA)ofTataMutualFundasper SEBI circularNo. SEBI/IMD/CIRNo/11/78450/06datedOctober11,2006.6)Investorshaveanoptiontosubscribe/redeemunitsinphysicalordematerialized formonBSEStAR&NSEMFSSMFsystem. Incaseofredemption request received throughMFSS/BSE StAR/DP residual unitswillcontinuetoremainintheRegistrar&TransferAgentsrecords&theresidualunitswillberedeemedonlyafterinvestorrequesttoredeem.7)ThefacilitytopurchasethroughSIPisavailableindematformonbothBSEStAR&NSEMFSSplatform.8)AsclarifiedbySEBIvideitscircularno.CIR/IMD/DF/10/2010datedAugust18,2010,restrictionontransferofunitsshallnotbeapplicabletounitsheldindematerializedmode&thustheunitsarefreelytransferable.HowevertherestrictionsontransferofunitsofELSSschemesduringthelockinperiodshallcontinuetobeapplicableaspertheELSSguidelines.9)Investorswillbeabletopurchase/redeemunitsineligibleschemesinthefollowingmanner:

(i.) purchase of units:

a. physical Form (Available on NSE MFSS & bSE StAR MF)

• The investor who chooses the physical mode is required to submitall requisitedocumentsalongwith thepurchaseapplication (subject toapplicable limits prescribed by BSE / NSE) to the AMFI certified stockexchange brokers. • The AMFI certified stock exchange broker shallverify the application formandatory details & KYC compliance. •Aftercompletion of the verification, the purchase order will be entered inthe Stock Exchange system&anorder confirmation slipwill be issuedto investor.•The investorwill transfer the funds to theAMFI certifiedstockexchangebrokers.•AllotmentdetailswillbeprovidedbytheAMFIcertifiedstockexchangebrokerstotheinvestor.

b. Dematerialized Form (Available on NSE MFSS & bSE StAR MF)

•The investorswho intend todeal indepositorymodeare required tohaveademataccountwithCentralDepositoryServices(India)Ltd(“CDSL”)/NationalSecuritiesDepositoryLtd.(“NSDL”).•Theinvestorwhochoosesthedepositorymodeisrequiredtoplaceanorderforpurchaseofunits(subjecttoapplicablelimitsprescribedbyBSE/NSE)withtheAMFIcertifiedstockexchangebrokers.•Theinvestorshouldprovidetheirdepositoryaccount details to the AMFI certified stock exchange brokers. • ThepurchaseorderwillbeenteredintheStockExchangesystem&anorderconfirmationslipwillbeissuedtoinvestor.•Theinvestorwilltransferthe

fundstotheAMFIcertifiedstockexchangebrokers.

(ii.) Redemption of units:

a. physical Form (Available on bSE StAR & NSE MFSS platform)

•Theinvestorwhochoosesthephysicalmodeisrequiredtosubmitallrequisite documents alongwith the redemption application (subject toapplicablelimitsprescribedbyBSE/NSE,ifany)totheAMFIcertifiedstockexchangebrokers.Thereisnomaximumcaponredemptionrequest.•TheredemptionorderwillbeenteredintheStockExchangesystem&anorderconfirmationslipwillbeissuedtoinvestor.•IncaseofredemptionrequestreceivedthroughMFSS/BSEStAR/DPresidualunitswillcontinuetoremainintheRegistrar&TransferAgentsrecords&theresidualunitswillberedeemedonlyafterinvestorrequesttoredeem.•Theredemptionproceeds will be credited to the bank account of the investor, as perthebankaccountmandaterecordedwithTataMutualFund&withinthetimelinesasperSEBIregulationsasapplicablefromtimetotimeoritwillbesenttotheinvestorinthemodeselectedbytheinvestor.•RedemptionrequestmayalsobesubmittedtoanyoftheInvestorservicecenters.•Incaseinvestorsdesiretoconvertthephysicalunitsintodematerializedform, the dematerialized request will have to be submitted with theRegistrar.

b. Dematerialized Form (Available on NSE MFSS & bSE StAR MF)

•TheinvestorswhointendtodealindepositorymodearerequiredtohaveademataccountwithCDSL/NSDL&unitsconvertedfromphysicalmodetodematmodepriortoplacingofredemptionorder.•Theinvestorwhochoosesthedepositorymodeisrequiredtoplaceanorderforredemption(subjecttoapplicablelimitsprescribedbyBSE/NSE)withtheAMFIcertifiedstock exchangebrokers. The investors shouldprovide theirDepositoryParticipant with Depository Instruction Slip with relevant units to becreditedtoClearingCorporationpoolaccount.•Theredemptionorderwillbeenteredinthesystem&anorderconfirmationslipwillbeissuedtoinvestor.•Presentlynolimitisapplicablefortheredemptionofunits.•Inrespectofinvestorshavingdemataccount&purchasing&redeemingunitsthroughstockbrokers&clearingmembers,investorsshallreceiveredemptionamount(Ifunitsareredeemed)&units(ifunitsarepurchased)throughbroker/clearingmember’spoolaccount.TheAssetManagementCompany/MutualFundwillpayproceedstothebroker/clearingmember(incaseofredemption)&broker/clearingmemberinturntotherespectiveinvestor & similarly units shall be credited by MF/AMC into broker/clearingmembers’poolaccount(incaseofpurchase)&broker/clearingmemberinturntotherespectiveinvestor.Itistobenotedthatpaymentofredemptionproceedstothebroker/clearingmembersbyMF/AMCshalldischargeMF/AMCof itsobligationofpaymentto individual investor&incaseofpurchaseounits,creditingunitsintobroker/clearingmemberpool account shalldischargeMF/AMCof itsobligation toallotunits toindividualinvestor.StockExchanges&Depositoriesshallprovideinvestorgrievance handling mechanism to the extent they relate to disputesbetweentheirrespectiveregulatedentity&theirclient.

1)Applications forpurchase/redemptionofunitswhichare incomplete/invalid are liable to be rejected.2) In case of non-financial requests/applications such as change of address, change of bank details, etc.investorsshouldapproachInvestorServiceCentres(ISCs)ofTataMutualFund if units are held in physical mode & the respective DepositoryParticipant(s) ifunitsareheld indematmode.3)Anaccountstatementwillbe issuedbyTataMutualFundto investorswhopurchase/redeemtheirunitsunderthisfacilityinphysicalmode.Incaseofinvestorswhointend to deal in units in depositorymode, a demat statementwill besentbyDepositoryParticipantshowingthecredit/debitofunitstotheiraccount.4)TheapplicabilityofNAVwillbesubjecttoguidelinesissuedbySEBIfromtimetotimeonUniformcut-offtimingsforapplicabilityofNAVofMutualFundScheme(s)/Plan(s).5) InvestorswillhavetocomplywithKnowYourCustomer(KYC)normsasprescribedbyBSE/NSE/CDSL/NSDL&TataMutualFundtoparticipateinthisfacility.6)InvestorsshouldgetintouchwithInvestorServiceCentres(ISCs)ofTataMutualFundforfurtherdetails.TheTrusteereservestherighttochange/modifythefeaturesofthisfacilityatalaterdate.

Date:30.6.2020.