Edelweiss ASEAN Equity Offshore Fund

 
OVERVIEW

The Edelweiss ASEAN Equity Offshore Fund is an Open ended Fund of Funds Scheme investing in JPMorgan Funds – ASEAN Equity Fund with an investment objective of the Scheme is to provide long term capital growth by investing predominantly in JPMorgan Funds – ASEAN Equity Fund, an equity fund which invests primarily in companies of countries which are members of the Association of South East Asian Nations (ASEAN)


However, there can be no assurance that the investment objective of the Scheme will be realized.

 

FUND INFORMATION
  • Fund Facts
  • Asset Allocation
  • Options
  • Load Structure
  • Applicable NAV
  • Fees & Expenses

Name: Edelweiss ASEAN Equity Offshore Fund

Scheme Type: An open ended fund of fund scheme investing in JPMorgan Funds – ASEAN Equity Fund

Investment Objective:The primary investment objective of the Scheme is to provide long term capital growth by investing predominantly in JPMorgan Funds – ASEAN Equity Fund, an equity fund which invests primarily in companies of countries which are members of the Association of South East Asian Nations (ASEAN).

However, there can be no assurance that the investment objective of the Scheme will be realized.

Benchmark Index:Morgan Stanley Capital International (MSCI) South East Asia Index

Fund Manager: Mr. Hiten Shah

Asset Allocation

At the time of the initial investment the asset allocation is expected as follows:

Asset Class Allocation Indicative Allocations (% of Total Assets) Risk Profile
Units / shares of JPMorgan Funds – ASEAN Equity Fund 95% - 100% Medium to High
Money market instruments and / or units of liquid schemes 0% - 5% Low to Medium

Edelweiss ASEAN Equity Off-shore Fund shall not directly invest in derivatives, securitized debt and shall not engage in stock lending.

The Scheme shall make investments in foreign securities as per clause 2(x) of SEBI Circular no. SEBI/IMD/CIR No.7/104753/07 dated September 26, 2007.

Under normal market conditions, the corpus of the Scheme shall be invested in units / shares of JPMorgan Funds – ASEAN Equity Fund as per the asset allocation detailed above. However, prevailing market conditions may compel the AMC to invest beyond the range set out above. Such deviations shall however normally be for short term purposes, for temporary defensive considerations and with the intention of protecting the interests of the Unit Holders. In the event of deviations, rebalancing will normally be carried out within 10 (Ten) Business Days.

In case the rebalancing is not done within the specified period, justification for the same shall be provided to the Investment Committee and the reason for the same shall be recorded in writing. The Investment Committee shall then decide on the course of action.

Any exposure that JPMorgan Funds – ASEAN Equity Fund has in India will not be gained through participatory notes.


Plans / Options / Facilities:

The Scheme offers two plans – Regular Plan and Direct Plan.

Each Plan offers a growth option only, where growth in the Scheme is refl ected in the NAV per unit.

Minimum Subscription / Redemption amount:

Initial application amount Additional Application Amount Amount / No. of Units for Redemption
₹ 5,000 per application and in multiples of ₹ 1 thereafter. ₹ 1,000 per application and in multiples of ₹ 1/- thereof ₹ 1,000 or 100 Units or the account balance, whichever is lower.
Load Structure

Entry Load: Nil


Exit Load:

1.00% — If redeemed within 12 months from the date of allotment in respect of purchase made other than through SIP; and If redeemed within 12 months from the date of allotment of units of each installment of SIP purchase.

Nil — If redeemed after 12 months from the date of allotment in respect of purchase made other than through SIP; and If redeemed after 12 months from the date of allotment of units of each installment of SIP purchase.

Applicable NAV

The Cut-off time for the Scheme is 3.00 p.m., and the Applicable NAV will be as under:

Purchase

  • Where the application is received upto 3.00 pm with a local cheque or demand draft payable at par at the place where it is received, with amount less than Rs. 2 lakhs – closing NAV of the day of receipt of application;
  • Where the application is received after 3.00 pm with a local cheque or demand draft payable at par at the place where it is received, with amount less than Rs.2 lakhs – closing NAV of the next Business Day;
  • Where the application is received with a local cheque or demand draft payable at par at the place where it is received, with amount equal to or more than Rs. 2 lakhs irrespective of the time of receipt of application, the closing NAV of the day on which the funds are available for utilisation shall be applicable.

Applicability of NAV for the Scheme with an amount equal to or more than Rs. 2 lakhs:
a) For allotment of units in respect of purchase in the Scheme, the following needs to be complied with:

  • Application is received before the applicable cut-off time.
  • Funds for the entire amount of subscription/purchase as per the application are credited to the bank account of the respective Scheme before the cut off time.
  • The funds are available for utilization before the cut-off time without availing any credit facility whether intra-day or otherwise, by the respective Scheme.

b) For allotment of units in respect of switch-in to the Scheme from other schemes, the following needs to be complied with:

  • Application for switch-in is received before the applicable cut-off time.
  • Funds for the entire amount of subscription/purchase as per the switch-in request are credited to the bank account of the respective switch-in Scheme before the cut-off time.
  • The funds are available for utilization before the cut-off time without availing any credit facility whether intra-day or otherwise, by the respective switch-in Scheme or Plans or options thereunder.

All transactions as per conditions given below are to be aggregated and closing NAV of the day on which funds are available for utilisation to be applied where the aggregated amount of the investment is Rs. 2.00 lakhs and above.

  • All transactions received on the same day (as per Time stamping rules).
  • Transactions shall include purchases, additional purchases, excluding Switches, SIP / STP and triggered transactions.
  • Aggregations shall be done on the basis of investor/s PAN. In case of joint holding, transactions with similar holding structures to be aggregated.
  • All transactions shall be aggregated where investor holding pattern is same as stated above, irrespective of whether the amount of the individual transaction is above or below Rs. 2.00 lakhs.
  • Only transactions in the same scheme shall be clubbed. This will include transactions at option level (Dividend, Growth, Direct).
  • Transactions in the name of minor received through guardian shall not be aggregated with the transaction in the name of same guardian. The above will be applicable only for cheques / demand drafts / payment instruments payable locally in the city in which a Designated Collection Centre is located. No outstation cheques will be accepted.

For Redemption

  • Where the application is received upto 3.00 p.m. - the closing NAV of the day immediately preceding the next Business Day ; and
  • Where the application is received after 3.00 p.m. - the closing NAV of the next Business Day. Note: In case the application is received on a Non-Business Day, it will be considered as if received on the Next Business Day.

For Switches: Valid applications for ‘Switch-out’ shall be treated as applications for Redemption and valid applications for ‘Switch-in’ shall be treated as applications for Purchase, and the provisions of the Cut-off time, Business Day and the Applicable NAV mentioned in the relevant SID as applicable to Purchase and Redemption shall be applied to the ‘Switch-in’ and ‘Switch-out’ applications, respectively.


Note: In case of applications received on a Non-Business Day the closing NAV of the next Business Day shall be applicable.

Fees & Expenses

As per the SEBI Regulations, the maximum recurring expenses including the investment management and advisory fee that can be charged to the Scheme shall be subject to a percentage limit of daily net assets as given in the table below. Subject to the SEBI Regulations, expenses over and above the prescribed ceiling will be borne by the AMC.

First Rs. 100 Crores* Next Rs. 300 Crores* Next Rs. 300 Crores* Over Rs. 700 Crores*
2.50% 2.25% 2.00% 1.75%

*of the daily net assets

In addition to the above, a charge of 20 bps on the daily net assets and a proportionate charge in respect of sales beyond T-15 cities subject to maximum of 30 bps on daily net assets will be charged to the scheme.

With Additional expenses, incurred towards different heads mentioned under regulations 52(2) and 52(4), not exceeding 0.20 per cent of daily net assets of the Scheme.

However, such additional expenses will not be charged if exit load is not levied/ not applicable to the Scheme.

Good and Service tax on investment and advisory fees will be charged to the Scheme in addition to the maximum limit of TER as prescribed in Regulation 52.

Actual Current Recurring Expenses
 

This product is suitable for investors who are seeking*:
Riskometer
  • Long term capital growth.
  • Investments predominantly in JPMorgan Funds – ASEAN Equity Fund, an equity fund which invests primarily in companies of countries which are members of the Association of South East Asian Nations.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Investors understand that their principal will be at high risk