Scheme

Information
Document
Invesco India Contra Fund
(An open ended equity scheme following contrarian investment strategy)

SCHEME RISKOMETER The particulars of the Scheme have been Sponsor

prepared in accordance with the Securities Invesco Hong Kong Limited,
Moderat and Exchange Board of India (Mutual Funds) 41/F, Champion Tower,
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Mod Regulations, 1996, (herein after referred to as 3 Garden Road, Central, Hong Kong.
to te Hi SEBI (MF) Regulations) as amended till date
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and filed with SEBI, along with a Due Investment Manager

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Diligence Certificate from the AMC. The units Invesco Asset Management (India)
being offered for public subscription have Private Limited
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not been approved or recommended by SEBI 2101 – A, 21st Floor, A Wing, Marathon
nor has SEBI certified the accuracy or Futurex, N. M. Joshi Marg, Lower
Investors understand that their principal adequacy of the Scheme Information Parel, Mumbai – 400013.
will be at very high risk Document.
Trustee
The Scheme Information Document sets forth
Invesco Trustee Private Limited
concisely the information about the Scheme
Suitable for investors who are seeking* 2101 – A, 21st Floor, A Wing, Marathon
that a prospective investor ought to know
 capital appreciation over long-term Futurex, N. M. Joshi Marg, Lower
before investing. Before investing, investors
 investments predominantly in equity and equity Parel, Mumbai – 400013.
should also ascertain about any further
related instruments through contrarian investing.
changes to this Scheme Information
*Investors should consult their financial advisers if in Mutual Fund
Document after the date of this Document
doubt about whether the product is suitable for them Invesco Mutual Fund
from the Mutual Fund / Investor Service
2101 – A, 21st Floor, A Wing,
Centres / Website / Distributors or Brokers.
Marathon Futurex, N. M. Joshi Marg,
BENCHMARK RISKOMETER - The investors are advised to refer to the Lower Parel, Mumbai – 400013.
S&P BSE 500 TRI Statement of Additional Information (SAI) for
details of Invesco Mutual Fund, Tax and Legal
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to te Hi SAI is incorporated by reference (is legally a
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For a free copy of the current SAI, please

contact your nearest Investor Service Centre
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or log on to our website

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(www.invescomutualfund.com).
The Scheme Information Document should
Benchmark riskometer is
at Very High Risk be read in conjunction with the SAI and not
in isolation.

Continuous Offer for Units at NAV based prices This Scheme Information Document is dated
October 30, 2021
 TABLE OF CONTENTS

SR. NO. PARTICULARS PAGE NO.

HIGHLIGHTS/SUMMARY OF THE SCHEME 2
I INTRODUCTION
A. Risk Factors 6
B. Requirement of Minimum Investors in the Scheme 12
C. Special Considerations 12
D. Compliance with Foreign Account Tax Compliance Act 13
E. Definitions 14
F. Due Diligence by the AMC 18
II INFORMATION ABOUT THE SCHEME
A. Type of Scheme 21
B. Investment Objective 21
C. Asset Allocation Pattern 21
D. Where will the Scheme Invest? 22
E. Investment Strategy 29
F. Fundamental Attributes 35
G. Benchmark Index 36
H. Fund Manager(s) 37
I. Investment Restrictions 37
J. How has the Scheme performed? 42
III UNITS AND OFFER
A. New Fund Offer 45
B. Ongoing Offer 45
C. Periodic Disclosure 78
D. Computation of NAV 82
IV FEES AND EXPENSES
A. New Fund Offer Expenses 83
B. Annual Scheme Recurring Expenses 83
C. Load Structure 85
D. Waiver of Load for Direct Applications 86
E. Transaction charges 87
F. Stamp Duty 87
V RIGHT OF UNIT HOLDERS 88
VI PENALTIES, PENDING LITIGATION OR PROCEEDINGS 88
LIST OF COLLECTION CENTRES

1 Invesco India Contra Fund

HIGHLIGHTS/SUMMARY OF THE SCHEME

Name of the Invesco India Contra Fund (IICF)

Scheme
Type of the An open ended equity scheme following contrarian investment strategy
Scheme
Category of Contra Fund
the Scheme
Investment To generate capital appreciation by investing predominantly in Equity and Equity
Objective Related Instruments through contrarian investing.

However, there is no assurance or guarantee that the investment objective of the

Scheme will be achieved. The Scheme does not assure or guarantee any returns.
Benchmark S&P BSE 500 TRI
Plans / Options The Scheme offers a separate Plan for investments directly with the Fund (i.e.
application not routed through Distributor).

Thus, the Scheme offers two plans as follows:

 Invesco India Contra Fund
 Invesco India Contra Fund - Direct Plan

Each of the above Plans under the Scheme offers following options:

 Growth option
 Income Distribution cum Capital Withdrawal (‘IDCW’)

 Payout of Income Distribution cum Capital Withdrawal option (‘IDCW

Payout’)
 Reinvestment of Income Distribution cum Capital Withdrawal option
(‘IDCW Reinvestment’)

Direct Plan will have a lower expense ratio excluding distribution expenses,
commission for distribution of Units etc. Direct Plan is only for investors who
purchase /subscribe Units directly with the Fund (i.e. application not routed through
Distributor). Investments under Direct Plan can be made through various modes
offered by the Fund for investing directly with the Fund (except Stock Exchange
Platform(s) and all other Platform(s) where investors’ applications for subscription
of units are routed through Distributors). Further Registered Investment Advisors
(RIAs) can also purchase units of Direct Plan on behalf of their clients through
NMF-II platform of National Stock Exchange of India Ltd. and/or BSE StAR MF
System of BSE Ltd.

The portfolio of Direct Plan will form part of portfolio of the Scheme and there will
be no separate portfolio for Direct Plan. Further, both the options i.e. Growth and
IDCW will have common portfolio under the Scheme.

If IDCW payable under IDCW Payout option is equal to or less than Rs. 100/-,
then the IDCW would be compulsorily reinvested in the option of the Scheme.
Default Plan / Investors subscribing Units under Direct Plan of a Scheme should indicate “Direct
Option / Plan” against the scheme name in the application form. Investors should also
Facility mention “Direct” in the ARN column of the application form. The table showing
various scenarios for treatment of application under “Direct/Existing” Plan is as
follows:

Broker Code
Plan mentioned Default Plan to be
Scenario mentioned by the
by the investor captured
investor
1 Not mentioned Not mentioned Direct
2 Not mentioned Direct Direct

2 Invesco India Contra Fund

 3 Not mentioned Existing Direct
4 Mentioned Direct Direct
5 Direct Not Mentioned Direct
6 Direct Existing Direct
7 Mentioned Existing Existing
8 Mentioned Not Mentioned Existing

In cases of wrong/ invalid/ incomplete ARN code mentioned on the application

form, the application will be processed under Existing Plan. The AMC shall contact
and obtain the correct ARN code within 30 calendar days of the receipt of
application form from the investor/ distributor. In case, the correct code is not
received within 30 calendar days, The AMC shall reprocess the transaction under
Direct Plan from the date of application without any exit load, if applicable.

The investors should indicate option for which subscription is made by indicating the
choice in the appropriate box provided for this purpose in the application form. In
case of valid application received without any choice of option, the following default
option will be considered:

Name of the Option^ Default

Growth / IDCW Growth
Payout of Income Distribution cum Capital Reinvestment of Income
Withdrawal option / Reinvestment of Income Distribution cum Capital
Distribution cum Capital Withdrawal option Withdrawal option

^ The above details of default option are also applicable to Direct Plan offered under
the Scheme.
Liquidity The Scheme offers Units for Subscription and Redemption at NAV based prices on
all Business Days on an ongoing basis.

The Mutual Fund will dispatch redemption proceeds within 10 Business Days from
the date of acceptance of redemption requests at the Official Points of Acceptance.
Dematerializat The Scheme offers option to subscribe units in electronic (demat) mode.
ion of Units Accordingly, the units of the Scheme will be available in dematerialized (electronic)
form. The applicant intending to hold Units in dematerialized form will be required
to have a beneficiary account with a Depository Participant (DP) of NSDL/CDSL
and will be required to mention in the application form DP Name, DP ID and
Beneficiary Account Number with the DP at the time of subscribing the Units of the
Scheme.

In case Unit holders do not provide their demat account details or the demat details
provided in the application form are incomplete / incorrect or do not match with the
details with the Depository Records, the Units will be allotted in Non-demat mode
provided the application is otherwise complete in all respect. Further, if the units
cannot be allotted in demat mode due to reason that KYC details including IPV is
not updated with DP, the Units will be allotted in non-demat mode subject to
compliance with necessary KYC provisions and the application is otherwise
complete in all respect.
Minimum
Rs. 1,000/- per application and in multiples of Re.1/- thereafter.
Application
Amount
Additional
Rs. 1,000/- per application and in multiples of Re.1/- thereafter.
Application
Amount
Minimum
Amount/Units Rs. 1,000/- or 0.001 Unit or account balance whichever is lower.
for
Redemption
Loads Entry Load: Nil

3 Invesco India Contra Fund

 In terms of SEBI Circular No. SEBI/IMD/CIR No. 4/168230/09 dated June 30,
2009, no entry load will be charged on purchase / additional purchase / switch-in.

The upfront commission, if any, on investment made by the investor shall be paid by
the investor directly to the Distributor, based on his assessment of various factors
including the service rendered by the Distributor.

Exit Load^:

For each purchase of units through Lumpsum / switch-in / Systematic Investment

Plan (SIP) and Systematic Transfer Plan (STP), exit load will be as follows:

 if units are redeemed/switched out within 1 year from the date of allotment:
• if upto 10% of units allotted are redeemed/switched out - Nil
• any redemption / switch-out of units in excess of 10% of units allotted - 1%.

 if units are redeemed/switched out after 1 year from the date of allotment, no
exit load is payable.

In case of each purchase of units through IDCW Transfer Plan:

• an exit load of 1% is payable if units are redeemed/ switched-out on or before 1
year from the date of allotment.
• no exit load is payable if units are redeemed/ switched-out after 1 year from the
date of allotment.

 Switch between the Plans under the Scheme: Nil

^Exit Load charged, if any, will be credited back to the Scheme, net of Goods &
Services Tax.

For more details on Load Structure, refer to the section ‘Load Structure’.
Stamp Duty The stamp duty at the applicable rate will be levied on applicable transactions i.e.
purchase, switch-in, IDCW reinvestment, instalment of Systematic Investment Plan,
Systematic Transfer Plan. Accordingly, pursuant to levy of stamp duty, the number
of units allotted will be lower to that extent. For more details & impact of stamp duty
on number of units allotted, please refer sub-section IV F. Stamp Duty.
NAV The Direct Plan under the Scheme will have a separate NAV.
Disclosure /
Transparency The AMC will calculate the NAVs on daily basis. The AMC shall prominently
disclose the NAVs of the Scheme under a separate heading on the website of the
Fund (www.invescomutualfund.com) and on the website of AMFI
(www.amfiindia.com) before 11.00 p.m. on every Business Day. If the NAVs are not
available before the commencement of business hours on the following day due to
any reason, the Mutual Fund shall issue a press release giving reasons and explaining
when the Mutual Fund would be able to publish the NAVs.

Further the Mutual Fund / AMC has extended facility of sending latest available
NAVs of the Scheme to the Unit holders through SMS upon receiving a specific
request in this regard. Also, information regarding NAVs can be obtained by the
Unit holders / Investors by calling or visiting the nearest ISC.

The Mutual Fund/AMC shall disclose portfolio (along with ISIN) of the Scheme as
on the last day of the month / half year on website of Mutual Fund
(www.invescomutualfund.com) and on the website of AMFI (www.amfiindia.com)
within 10 days from the close of each month/ half-year respectively in a user-
friendly and downloadable spreadsheet format.

In case of Unitholders whose e-mail addresses are registered, the Mutual Fund /
AMC shall send via e-mail both the monthly and half-yearly statement of Scheme
portfolio within 10 days from the close of each month/ half-year respectively.

4 Invesco India Contra Fund

 Further, the Mutual Fund / AMC shall publish an advertisement in the all India
edition of at least two daily newspapers, one each in English and Hindi, every half-
year disclosing the hosting of the half-yearly statement of the Scheme portfolio on
the website of the Mutual Fund (www.invescomutualfund.com) and on the website
of AMFI (www.amfiindia.com).

The Unitholder may request for physical or electronic copy of the statement of
Scheme portfolio by writing to the AMC at the e-mail address
[email protected] or calling the AMC on 1800-209-0007 (Toll Free) or by
submitting the request letter to any of the Investor Services Centre of Invesco Mutual
Fund or of KFin Technologies Private Limited.

The Mutual Fund/ AMC shall provide a physical copy of the statement of Scheme
portfolio, without charging any cost, on specific request received from a unitholder.

Further, the Mutual Fund and Asset Management Company shall within one month
from the close of each half year (i.e. on 31st March and on 30th September) host a
soft copy of the unaudited financial results of the Scheme on the website of the
Mutual Fund (www.invescomutualfund.com) and on the website of AMFI
(www.amfiindia.com). Also an advertisement disclosing the hosting of the unaudited
financial results of the Scheme on the website will be published, in atleast one
English daily newspaper having nationwide circulation and in a newspaper having
wide circulation published in language of the region where the Head Office of the
Mutual Fund is situated.

The AMC will make available the Annual Report of the Scheme within four months
of the end of the financial year.

The AMC has provided on its website a dashboard in a comparable, downloadable

(spreadsheet) and machine-readable format giving information such as Scheme’s
AUM, investment objective, expense ratios, portfolio details, scheme’s past
performance etc.
Disclosure of Risk-o-meter disclosed in the product label of the Scheme is based on the Scheme
Risk-o-Meter portfolio as on September 30, 2021. The AMC will evaluate the Risk-o-Meter on a
monthly basis and shall disclose the same along with the portfolio disclosure.

Any change in the risk-o-meter will be communicated by way of Notice-cum-

Addendum uploaded on website of the Mutual Fund (www.invescomutualfund.com)
and by way of an email / SMS to the Unit holders of the Scheme.

5 Invesco India Contra Fund

I. INTRODUCTION

A. RISK FACTORS

Standard Risk Factors:

• Investment in Mutual Fund Units involves investment risks such as trading volumes, settlement
risk, liquidity risk, default risk including the possible loss of principal.
• As the price / value / interest rates of the securities in which the Scheme invests fluctuates, the
value of your investment in the Scheme may go up or down depending on various factors and
forces affecting the capital markets.
• Past performance of the Sponsor /AMC/Mutual Fund does not guarantee future performance of
the Scheme.
• The name of the Scheme does not in any manner indicate either the quality of the Scheme or its
future prospects and returns.
• The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme
beyond the initial contribution of Rs. 1,50,000/- (Rupees One Lakh Fifty Thousand Only) made
by it towards setting up the Mutual Fund.
• The present Scheme is not a guaranteed or assured return scheme.

Scheme Specific Risk Factors / Risk Mitigation Measures:

• Risk Factors:

Since the Scheme has a contrarian style of investment, it might underperform the markets in
scenarios of strong upward or downward cycles. The Scheme seeks to generate returns out of
identifying themes and market segments that are likely to outperform in the future. This may or
may not happen.

• Risk Mitigation Measures:

Invesco India Contra Fund invests in companies that are fundamentally sound, but generally are
undervalued at the time of investment due to lack of investor interest. Our aim is to have a first
mover advantage by investing early into ‘out of favour’ sectors/stocks. Over time, we believe
that such early identification of opportunities will enable the fund to outperform.

• Risk associated with Equity and Equity Related Instruments:

Equity and Equity Related Instruments by nature are volatile and prone to price fluctuations on a
daily basis due to macro and micro economic factors. The value of Equity and Equity Related
Instruments may fluctuate due to factors affecting the securities markets such as volume and
volatility in the capital markets, interest rates, currency exchange rates, changes in law/policies
of the Government, taxation laws, political, economic or other developments, general decline in
the Indian markets, which may have an adverse impact on individual securities, a specific sector
or all sectors. Consequently, the NAVs of the Units issued under the Scheme may be adversely
affected.

Further, the Equity and Equity Related Instruments are risk capital and are subordinate in the
right of payment to other securities, including debt securities.

Equity and Equity Related Instruments listed on the stock exchange carry lower liquidity risk;
however, the Scheme’s ability to sell these investments is limited by the overall trading volume
on the stock exchanges. In certain cases, settlement periods may be extended significantly by
unforeseen circumstances. The inability of the Scheme to make intended securities purchases
due to settlement problems could cause the Scheme to miss certain investment opportunities.
Similarly, the inability to sell securities held in the Scheme’s portfolio may result, at times, in
potential losses to the Scheme, should there be a subsequent decline in the value of securities
held in the Scheme's portfolio.

6 Invesco India Contra Fund

 Further, the volatility of medium / small - capitalization stocks may be higher in comparison to
liquid large capitalisation stocks.

Risk Mitigation Measures

Type of Risk Risk Mitigation Measures

Volatility By monitoring sector / company exposure at portfolio level.
Concentration By diversifying across stocks / sectors, concentration risk can be
reduced. The fund manager will endeavor to build well diversified
portfolio within the overall fund specific investment strategy which
will help in controlling concentration risk.
Liquidity The fund manager will control the liquidity at portfolio construction
level.

• Risk associated with Fixed Income and Money Market Instruments:

Interest - Rate Risk

Fixed Income and Money Market Instruments run interest-rate risk. Generally, when interest
rates rise, prices of existing fixed income securities fall and when interest rate falls, the prices
increase. In case of floating rate instruments, an additional risk could arise because of changes
in spreads of floating rate instruments. With increase in spread of floating rate instruments, the
price can fall and with decrease in spread of floating rate instruments, the prices can rise.

Credit Risk
Credit risk or default risk refers to the risk that the issuer of a fixed income security may default
on interest payment or even in paying back the principal amount on maturity. In case of
Government Securities, there is minimal credit risk to that extent.

Lower rated or unrated securities are more likely to react to developments affecting the market
and credit risk than the highly rated securities which react primarily to movements in the general
level of interest rates. Lower rated or unrated securities also tend to be more sensitive to
economic conditions than higher rated securities.

Liquidity or Marketability Risk

The ability of the Scheme to execute sale/purchase order is dependent on the liquidity or
marketability. The primary measure of liquidity risk is the spread between the bid price and the
offer price quoted by a dealer. The securities that are listed on the stock exchange carry lower
liquidity risk, but the ability to sell these securities is limited by the overall trading volumes.
Further, different segments of Indian financial markets have different settlement cycles and may
be extended significantly by unforeseen circumstances.

Securities which are not quoted on the stock exchange(s) may be illiquid and can carry higher
liquidity risk in comparison with securities which are listed on the stock exchange(s) and offer
exit option to the investor including put option. The Scheme would invest in the securities
which are not listed but offer attractive yields. This may however increase the risk of the
portfolio.

Re-investment Risk
This refers to the interest rate risk at which the intermediate cash flows received from the
securities in the Scheme including maturity proceeds are reinvested. Investments in fixed
income securities may carry re-investment risk as interest rates prevailing on the interest or
maturity due dates may differ from the original coupon of the debt security. Consequently, the
proceeds may get invested at a lower rate.

• Risk Factor associated with investing in Securities Segment and Tri-party Repo trade
settlement
Clearing Corporation of India Ltd. (‘CCIL’) is providing clearing and settlement services, for
Triparty Repo trades in Government Securities, under its Securities Segment. CCIL would act as
a Central Counterparty to all the borrow and lend Triparty Repo trades received by it for
settlement. CCIL would also be performing the role responsibilities of Triparty Repo Agent, in

7 Invesco India Contra Fund

 terms of Repurchase transactions (Repo) (Reserve Bank) Directions, 2018 as amended from
time to time. CCIL would settle the Triparty Repo trades, in terms of its Securities Segment
Regulations.

The funds settlement of members is achieved by multilateral netting of the funds position in
Triparty Repo with the funds position in Outright and Market Repo and settling in the books of
RBI for members who maintain an RBI Current Account. In respect of other members, funds
settlement is achieved in the books of Settlement Bank. Securities settlement for Triparty Repo
trades shall be achieved in the Gilt Account of the Member maintained with CCIL. Securities
obligation for outright and market repo trades shall be settled in the SGL / CSGL account of the
Member with RBI.

Invesco Mutual Fund is a member of securities segment and Tri-party Repo trade settlement of
the CCIL. Since all transactions of the Fund in government securities and in Tri-party Repo
trades are settled centrally through the infrastructure and settlement systems provided by CCIL,
it reduces the settlement and counterparty risks considerably for transactions in the said
segments.

To mitigate the potential losses arising in case any member defaults in settling the transactions
routed through CCIL, CCIL maintains a Default Fund. CCIL shall maintain two separate
Default Funds in respect of its securities segment, one to meet the losses airing out of any
default by its members from outright and repo trades and other for meeting losses arising out of
any default by its members from Triparty Repo trades.

In case any clearing member fails to honor his settlement obligations, the Default Fund is
utilized to complete the settlement applying the Default Waterfall Sequence. As per the said
waterfall mechanism, after the defaulter’s margins and defaulter’s contribution to default fund
have been appropriated, CCIL’s contribution is used to meet the losses. Post utilization of
CCIL’s contribution, if there is still a loss to be met, then contribution of non-defaulting
members to Default Fund is utilized to meet the said loss.

The Scheme is subject to the risk of losing initial margin and contribution to Default Fund in the
event of failure of any settlement obligation. Further the Scheme’s contribution is allowed to be
used to meet the residual loss in case of default by the other clearing member (the defaulting
member).

Further, CCIL periodically prescribes a list of securities eligible for contribution as collaterals
by members. Presently, all Central Government Securities and Treasury Bills are accepted as
collaterals by CCIL. The above risk factor may undergo a change in case the CCIL notifies
securities other than Government of India Securities as eligible for contributions as collateral.

 Risk Factor associated with investing in Tier I and Tier II Bonds:

Tier I and Tier II Bonds are unsecured and the RBI prescribes certain restrictions in relation
to the terms of these Bonds:
Tier I and Tier II bonds are unsecured in nature. The claims of the Bondholders shall (i) be
subordinated to the claims of all depositors and general creditors of the Bank; (ii) neither be secured
nor covered by any guarantee of the Issuer or its related entity or other arrangement that legally or
economically enhances the seniority of the claim vis-a-vis creditors of the Bank; (iii) Unless the
terms of any subsequent issuance of bonds/debentures by the Bank specifies that the claims of such
subsequent bond holders are senior or subordinate to the Bonds issued under the Disclosure
Document or unless the RBI specifies otherwise in its guidelines, the claims of the Bondholders shall
be pari passu with claims of holders of such subsequent debentures/bond issuances of the Bank; (iv)
rank pari passu without preference amongst themselves and other subordinated debt eligible for
inclusion in Tier 1 / Tier 2 Capital as the case may be. The Bonds are not redeemable at the option of
the Bondholders or without the prior consent of RBI.

The Bonds (including all claims, demands on the Bonds and interest thereon, whether accrued or
contingent) are issued subject to loss absorbency features applicable for non-equity capital
instruments issued in terms of Basel III Guidelines including in compliance with the requirements of
Annex 5 thereof and are subject to certain loss absorbency features as described in bond prospectus

8 Invesco India Contra Fund

 and required of Tier 1 / Tier 2 instruments at the Point of Non Viability as provided for in Annex 16
of the aforesaid Basel III Guidelines as amended from time to time.

The Bonds are essentially non-equity regulatory instruments, forming part of a Bank's capital,
governed by Reserve Bank of India (RBI) guidelines and issued under the issuance and listing
framework given under Chapter VI of the SEBI (Issue and Listing of Non-Convertible Redeemable
Preference Shares) Regulations, 2013 (“NCRPS Regulations”). These instruments have certain
unique features which, inter-alia, grant the issuer (i.e. banks, in consultation with RBI) a discretion in
terms of writing down the principal / interest, to skip interest payments, to make an early recall etc.
without commensurate right for investors to legal recourse, even if such actions of the issuer might
result in potential loss to investors. Payment of coupon on the Bonds is subject to the terms of
Information Memorandum, including Coupon Discretion, Dividend Stopper Clause, Loss Absorption
as contained in the Information Memorandum. The Bonds are subject to loss absorption features as
per the guidelines prescribed by RBI.

There may be no active market for the Bonds on the platform of the Stock Exchanges. As a
result, the liquidity and market prices of the Bonds may fail to develop and may accordingly be
adversely affected:
There is no assurance that a trading market for the Bonds will exist and no assurance as to the
liquidity of any trading market. Although an application will be made to list the Bonds on the NSE
and/or BSE, there can be no assurance that an active market for the Bonds will develop, and if such a
market were to develop, there is no obligation on the issuer to maintain such a market. The liquidity
and market prices of the Bonds can be expected to vary with changes in market and economic
conditions, financial condition and prospects and other factors that generally influence market price
of such instruments. Such fluctuations may significantly affect the liquidity and market price of the
Bonds, which may trade at a discount to the price at which one purchases these Bonds.

Issuer is not required to and will not create or maintain a Debenture Redemption Reserve
(DRR) for the Bonds issued under this Disclosure Document:
As per the Companies (Share Capital and Debentures) Rules, 2014, as amended, no Debenture
Redemption Reserve is required to be created by Banking Companies issuing debentures.

There is no assurance that the Tier I / Tier II bonds will not be downgraded:
The Rating agencies, which rate the Bonds, have a slightly different rating methodology for Tier I
and Tier II bonds. In the event of deterioration of the financial health of the Issuer or due to other
reasons, the rating of the Bonds may be downgraded whilst the ratings of other bonds issued by the
issuer may remain constant. In such a scenario, for Tier I and Tier II Bond holders may incur losses
on their investment.

• Risks associated with investing in Securitized Debt

The Scheme may invest in securitized debt such as asset backed securities (ABS) or mortgage
backed securities (MBS). ABS are backed by other assets such as credit card, automobile or
consumer loan receivables, retail loan installment or participations in pools of leases. Credit
support for these securities may be based on the underlying assets and/or provided through
credit enhancements by a third party. The values of these securities are sensitive to changes in
the credit quality of the underlying collateral, the credit strength of the credit enhancement,
changes in interest rates and at times the financial condition of the issuer. MBS is an asset
backed security whose cash flows are backed by the principal and interest payments of a set of
mortgage loans. In the case of mortgage backed securities, these loans are usually first
mortgages on residential properties. With asset backed securities, the loans might be credit card
receivables, auto loans and leases or home equity loans. As the underlying loans are paid off by
the borrowers, the investors in MBS/ABS receive payments of interest and principal over time.

MBS, particularly home loan transactions, are subject to interest-rate risk and prepayment risk.
A change in interest rates can affect the pace of payments on the underlying loans, which in
turn, affects total return on the securities. ABS also carries credit or default risks. If many
borrowers on the underlying loans default, losses could exceed the credit enhancement level and
result in losses to investors in an ABS transaction. ABS has structure risk due to a unique
characteristic known as early amortization or early payout risk.

9 Invesco India Contra Fund

 MBS carry interest rate risk. Maturity is a moving target with these securities. Depending on
what happens to interest rates after issuing the MBS, the maturity of the bond could shorten or
lengthen dramatically. This is because homeowners are allowed to refinance their mortgages, as
decline in interest rates encourages many homeowners to refinance their mortgages. Whereas
rise in interest rates causes homeowners to hold on to their mortgages longer. This will extend
the originally estimated maturity dates of MBS.

ABS and MBS are also subject to prepayment risk. When purchasing an MBS, investors usually
calculate some degree of prepayment into their pricing. However, if prepayment happens
unexpectedly or faster than predicted, it may result in reduced actual duration as compared to
the expected duration of the paper at the time of purchase, which may adversely impact the
portfolio yield.

The yield-to-maturity of such securities cannot be known for certain at the time of purchase
since the cash flows are not known. When principal is returned early, future interest payments
will not be paid on that part of the principal. If the bond was purchased at a premium, the bond’s
yield will be less than what was estimated at the time of purchase.

The credit enhancement stipulated represents a limited loss cover to the investors. These
certificates represent an undivided beneficial interest in the underlying receivables and do not
represent an obligation of either the issuer or the seller or the originator, or the parent or any
affiliate of the seller, issuer and originator. No financial recourse is available to the certificate
holders against the investors’ representative. Delinquencies and credit losses may cause
depletion of the amount available under the credit enhancement and thereby the investor payouts
to the certificate holders may get affected if the amount available in the credit enhancement
facility is not enough to cover the shortfall. On persistent default of an obligor to repay his
obligation, the servicer may repossess and sell the asset. However, many factors may affect,
delay or prevent the repossession of such asset or the length of time required to realise the sale
proceeds on such sales. In addition, the price at which such asset may be sold may be lower than
the amount due from that obligor.

These securities also carry risk associated with the collection agent. With respect to the
certificates, the servicer will deposit all payments received from the obligors into the collection
account. However, there could be a time gap between collection by a servicer and depositing the
same into the collection account especially considering that some of the collections may be in
the form of cash. In this interim period, collections from the loan agreements may not be
segregated from other funds of originator. If originator in its capacity as servicer fails to remit
such funds due to investors, the investors may be exposed to a potential loss.

• Additional risks associated with the CE rated papers

In addition to all the risks associated with the plain vanilla instruments like NCDs / Money
market instruments etc., any instrument rated with the suffix (CE) is exposed to various
additional risks on the basis of the explicit underlying Credit enhancement (CE) from a third
party/ parent/ group company, in the form of corporate guarantee/ letter of comfort/ pledge of
shares etc. The risk involved are:
• if the Credit Enhancement is in the form of Corporate Guarantee / Letter of Comfort, then
there is a legal risk of enforcing the Corporate Guarantee / Letter of Comfort along with the
credit risk pertaining to the Credit Enhancement provider.
• If the Credit Enhancement is in the form of pledge of shares, then the additional risks are
those associated with equity price movement, share collateral cover, liquidity of shares
pledged as collateral in the secondary market, availability of free shares with the CE
provider to be provided as additional collateral. Further there is also a legal risk of
enforcing the pledge of shares, operational risk in selling the shares in secondary market &
the underlying impact cost.
• If the Credit Enhancement is in any other form, then there is a risk pertaining to legal
enforceability of the credit enhancement and credit risk of the credit enhancement provider.

• Risks associated with investing in Derivatives

10 Invesco India Contra Fund

 Derivative products are leveraged instruments and can provide disproportionate gains as well as
disproportionate losses to the investor. Execution of such strategies depends upon the ability of
the fund manager to identify such opportunities. Identification and execution of the strategies to
be pursued by the fund manager involve uncertainty and decision of fund manager may not
always be profitable. No assurance can be given that the fund manager will be able to identify or
execute such strategies. The risks associated with the use of derivatives are different from or
possibly greater than the risks associated with investing directly in securities and other
traditional investments. The use of a derivative requires an understanding not only of the
underlying instrument but also of the derivative itself. Derivatives require the maintenance of
adequate controls to monitor the transactions entered into, the ability to assess the risk that a
derivative adds to the portfolio and the ability to forecast price or interest rate movements
correctly.

Other risks include risk of mispricing or improper valuation and the inability of the derivative to
correlate perfectly with underlying assets, rates and indices, illiquidity risk whereby the Scheme
may not be able to sell or purchase derivative quickly enough at a fair price.

• Risks associated with Securities Lending

For Equity Instruments:

As with other modes of extensions of credit, there are risks inherent to securities lending.
During the period the security is lent, the Scheme may not be able to sell such security and in
turn cannot protect from the falling market price of the said security. Under the current
securities lending and borrowing mechanism, the Scheme can call back the securities lent any
time before the maturity date of securities lending contract. However this will be again the
function of liquidity in the market and if there are no lenders in the specified security, the
Scheme may not be able to call back the security and in the process, the Scheme will be exposed
to price volatility. Moreover, the fees paid for calling back the security may be more than the
lending fees earned by Scheme at the time of lending the said security and this could result in
loss to the Scheme. Also, during the period the security is lent, the Fund will not be able to
exercise the voting rights attached to the security as the security will not be registered in the
name of the Scheme in the records of the Depository/issuer.

For Debt Instruments:

As with other modes of extensions of credit, there are risks inherent to securities lending,
including the risk of failure of the other party, in this case the approved intermediary, to comply
with the terms of the agreement entered into between the lender of securities i.e. the Scheme and
the approved intermediary. Such failure can result in the possible loss of rights to the collateral
put up by the borrower of the securities, the inability of the approved intermediary to return the
securities deposited by the lender and the possible loss of any corporate benefits accruing to the
lender from the securities deposited with the approved intermediary. The Fund may not be able
to sell such lent securities and this can lead to temporary illiquidity.

• Risks associated with Short Selling

The Scheme may enter into short selling transactions, subject to SEBI and RBI Regulations.
Short positions carry the risk of losing money and these losses may grow unlimited theoretically
if the price of the stock increases without any limit. This may result in major loss to the Scheme.
At times, the participants may not be able to cover their short positions, if the price increases
substantially. If numbers of short sellers try to cover their position simultaneously, it may lead
to disorderly trading in the stock and thereby can briskly escalate the price even further making
it difficult or impossible to liquidate short position quickly at reasonable prices. In additions,
short selling also carries the risk of inability to borrow the security by the participants thereby
requiring the participants to purchase the securities sold short to cover the position even at
unreasonable prices.

11 Invesco India Contra Fund

B. REQUIREMENT OF MINIMUM INVESTORS IN THE SCHEME

The Scheme shall have a minimum of 20 investors and no single investor shall account for more
than 25% of the corpus of the Scheme. In case the Scheme do not have a minimum of 20
investors in the stipulated period, the provisions of Regulation 39(2)(c) of the SEBI (MF)
Regulations would become applicable automatically without any reference from SEBI and
accordingly the Scheme shall be wound up and the units would be redeemed at applicable NAV.
The two conditions mentioned above shall be complied with in each subsequent calendar
quarter, on an average basis, as specified by SEBI. If there is a breach of 25% limit by any
investor over the quarter, a rebalancing period of one month would be allowed and thereafter the
investor who is in breach of the rule shall be given 15 days’ notice to redeem his exposure over
25% limit. Failure on the part of the said investor to redeem his exposure over 25% limit within
the aforesaid 15 days would lead to automatic redemption by the Mutual Fund on the applicable
Net Asset Value on 15th day of the notice period. The Fund shall adhere to the requirements
prescribed by SEBI from time to time in this regard.

C. SPECIAL CONSIDERATIONS

• Prospective investors should study this Scheme Information Document and Statement of
Additional Information carefully in its entirety and should not construe the contents hereof as
advise relating to legal, taxation, financial, investment or any other matters and are advised to
consult their legal, tax, financial and other professional advisors to determine possible legal, tax,
financial or other considerations of subscribing to or redeeming units, before making a decision
to invest / redeem / hold Units.

• Neither this Scheme Information Document, Statement of Additional Information nor the Units
have been registered in any jurisdiction. The distribution of this Scheme Information Document
or Statement of Additional Information in certain jurisdictions may be restricted or totally
prohibited and accordingly, persons who come into possession of this Scheme Information
Document or Statement of Additional Information are required to inform themselves about, and
to observe, any such restrictions and/or legal compliance requirements.

• The AMC, Trustee or the Mutual Fund have not authorized any person to issue any
advertisement or to give any information or to make any representations, either oral or written,
other than that contained in this Scheme Information Document or the Statement of Additional
Information in connection with this offering. Prospective investors are advised not to rely upon
any information or representation not incorporated in the Scheme Information Document or
Statement of Additional Information as having been authorized by the Mutual Fund, the AMC
or the Trustee.

• Redemption due to change in the fundamental attributes of the Scheme or due to any other
reasons may entail tax consequences. The Trustee, AMC, Mutual Fund, their directors or their
employees shall not be liable for any such tax consequences that may arise due to such
redemptions.

• The Trustee, AMC, Mutual Fund, their directors or their employees shall not be liable for any of
the tax consequences that may arise, in the event that the Scheme is wound up for the reasons
and in the manner provided in ‘Statement of Additional Information (‘SAI’)’.

• The tax benefits described in this Scheme Information Document and Statement of Additional
Information are as available under the present taxation laws and are available subject to relevant
conditions. The information given is included only for general purpose and is based on advice
received by the AMC regarding the law and practice currently in force in India as on the date of
this Scheme Information Document and the Unit holders should be aware that the relevant fiscal
rules or their interpretation may change. As is the case with any investment, there can be no
guarantee that the tax position or the proposed tax position prevailing at the time of an
investment in the Scheme will endure indefinitely. In view of the individual nature of tax
consequences, each Unit holder is advised to consult his / her own professional tax advisor.

12 Invesco India Contra Fund

• The Mutual Fund may disclose details of the investor’s account and transactions there under to
those intermediaries whose stamp appears on the application form. In addition, the Mutual Fund
may disclose such details to the bankers, as may be necessary for the purpose of effecting
payments to the investor. The Fund may also disclose such details to regulatory and statutory
authorities/bodies as may be required or necessary.

• In case the AMC or its sponsor or its shareholders or their associates or group companies make
substantial investment, either directly or indirectly in the Scheme, redemption of units by these
entities may have an adverse impact on the performance of the Scheme. This may also affect the
ability of the other Unit holders to redeem their units.

• As the liquidity of the Scheme’s investments may sometimes be restricted by trading volumes
and settlement periods, the time taken by the Fund for Redemption of Units may be significant
in the event of an inordinately large number of Redemption requests. The Trustee has the right
to limit redemptions under certain circumstances. Please refer to the section “Restriction on
Redemption / Switch-out of Units”.

• Pursuant to the provisions of Prevention of Money Laundering Act, 2002, if after due diligence,
the AMC believes that any transaction is suspicious in nature as regards money laundering,
failure to provide required documentation, information, etc. the AMC shall have absolute
discretion to report such suspicious transactions to FIU-IND and / or to freeze the folios of the
investor(s), reject any application(s) / allotment of units and effect mandatory redemption of
unit holdings of the investor(s) at the applicable NAV subject to payment of exit load, if any.

D. COMPLIANCE WITH FOREIGN ACCOUNTS TAX COMPLIANCE ACT (“FATCA”) /

COMMON REPORTING STANDARDS (“CRS”)

The Central Board of Direct Taxes (CBDT) has notified Rules 114F to 114H (pertaining to
FATCA-CRS), as part of the Income-tax Rules, 1962, which require Indian financial institutions
such as Invesco Mutual Fund to seek additional personal, tax and beneficial owner information
and certain certifications and documentation from its investors/unitholders. Please note that
applications for account opening could be liable to be rejected where such FATCA-CRS related
information or documentation is not provided.

In relevant cases, the Mutual Fund will have to, inter-alia, report account information (e.g.
holdings, redemptions or IDCW) to tax authorities / other agencies, as may be required. In this
respect, the Mutual Fund would rely on the relevant information provided by its Registrar and
would also use its discretion.

The onus to provide accurate, adequate and timely information would be that of the investor. In
this regard, any change in the information provided should be intimated to the Mutual Fund
promptly, i.e., within 30 days by the investors/unitholders. Investors/unitholders should consult
their own tax advisors for any advice on tax residency or any other aspects of FATCA -CRS.
Please note that the Mutual Fund will be unable to provide any advice in this regard.

13 Invesco India Contra Fund

E. DEFINITIONS

In this Scheme Information Document, the following words and expressions shall have the meaning
specified herein, unless the context otherwise requires:

“AMC” or “Asset Invesco Asset Management (India) Pvt. Ltd., a Company

Management Company” or incorporated under the Companies Act, 1956 and approved by SEBI
“Investment Manager” to act as the Asset Management Company for the Scheme of
Invesco Mutual Fund.
“Applicable NAV” The NAV applicable for subscription or redemption or switching
based on the Business Day and relevant cut-off times on which the
application is accepted at Official Point of Acceptance of
Transaction.
“Business Day” / “Working A day other than:
Day” a) A Saturday or Sunday;
b) A day on which BSE Ltd., Mumbai and the National Stock
Exchange of India Ltd. are closed, whether or not the banks
in Mumbai are open;
c) A day on which purchase and redemption of Units is
suspended or a book closure period is announced by the
Trustee / AMC;
d) A day on which normal business cannot be transacted due to
storms, floods, bandhs, strikes or such other events as the
AMC may specify from time to time.
e) A day on which banks in Mumbai or Reserve Bank of India
(RBI) is closed.
f) A day on which there is no RBI clearing or settlement of
securities.

Provided that the days when the banks in any location where the
AMC’s Investor Service Centres are located are closed due to a
local holiday, such days will be treated as non Business Days at
such centres for the purposes of accepting fresh subscriptions.
However, if the Investor Service Centre in such locations is open on
such local holidays, then redemption and switch requests will be
accepted at those centres, provided it is a Business Day for the
Scheme on an overall basis.

Notwithstanding the above, the AMC reserves the right to change

the definition of Business Day and to declare any day as a Business
Day or otherwise at any or all ISCs.
“Beneficial Owner” As defined in the Depositories Act 1996 (22 of 1996) means a
person whose name is recorded as such with a Depository.
“Business Hours” Presently 9.30 a.m. to 5.30 p.m. on any Business Day or such other
time as may be applicable from time to time.
“Custodian” A person who has been granted a certificate of registration to carry
on the business of custodian under the Securities and Exchange
Board of India (Custodian) Regulations, 1996, which for the time
being is Deutsche Bank AG, Mumbai.
“Cut-off Time” Cut off Time in relation to Subscription and Redemption of units
means the outer limits of timings on a particular Business Day,
which are relevant for determination of Applicable NAV that is to
be applied for the transaction.
“Depository” As defined in the Depositories Act, 1996 and includes National
Securities Depository Ltd (NSDL) and Central Depository Services
(India) Ltd. (CDSL).
“Depository Participant” a person registered as such under sub section (1A) of section 12 of
the Securities and Exchange Board of India Act, 1992.
“Depository Records” As defined in the Depositories Act 1996 (22 of 1996) includes the

14 Invesco India Contra Fund

 records maintained in the form of books or stored in a computer or
in such other form as may be determined by the said Act from time
to time.
“Derivative” Derivative includes (i) a security derived from a debt instrument,
share, loan whether secured or unsecured, risk instrument or
contract for differences or any other form of security; (ii) a contract
which derives its value from the prices or index of prices of
underlying securities.
“Distributor” Such persons/firms/ companies/ corporates who fulfill the criteria
laid down by SEBI/AMFI from time to time and empanelled by the
AMC to distribute/sell/market the schemes of the Fund.
“Entry Load” or “Sales Load on Sale/Switch-in of Units
Load”
“Equity Related Include convertible debentures, convertible preference shares,
Instruments/ Securities” warrants carrying the right to obtain equity shares, equity
derivatives, and such other instrument as may be specified by SEBI
from time to time.
“Exit Load” or Load on Redemption/Switch-out of Units.
“Redemption Load”
“Foreign Portfolio Investor” A person who satisfies the eligibility criteria prescribed under
or “FPI” Regulation 4 of SEBI (Foreign Portfolio Investors) Regulations,
2019 and has been registered under Chapter II of these regulations.
“Fund” or “Mutual Fund” Invesco Mutual Fund, a trust set up under the provisions of the
or “Invesco MF” Indian Trusts Act, 1882 and registered with SEBI vide Registration
No. MF/052/06/01 dated May 5, 2016. Invesco Mutual Fund,
originally known as Lotus India Mutual Fund, was registered with
SEBI vide Registration No. MF/052/06/01 dated July 24, 2006.
“IICF” or “Scheme” Invesco India Contra Fund
“Investment Management The agreement dated April 27, 2006 entered into between Invesco
Agreement” Trustee Pvt. Ltd. and Invesco Asset Management (India) Pvt. Ltd. as
amended by the First Amendment to Investment Management
Agreement dated March 28, 2013.
“Investor Service Centres” Designated offices of Invesco Asset Management (India) Pvt. Ltd.
or “ISCs” or such other centres / offices as may be designated by the AMC
from time to time.
“Load” In the case of redemption / switch out of a Unit, the sum of money
deducted from the Applicable NAV and in the case of subscription /
switch in of a Unit, a sum of money to be paid by the prospective
investor on the Sale / Switch in of a Unit in addition to the
Applicable NAV.
“Money Market Includes commercial papers, commercial bills, treasury bills and
Instruments” Government securities having an unexpired maturity upto one year,
call or notice money, certificate of deposit, usance bills, cash
management bills, Tri-party Repo (TREPS) and any other like
instruments as specified by the Reserve Bank of India from time to
time.
“Net Asset Value” or “NAV” Net Asset Value per Unit of the respective option under the Scheme
calculated in a manner described in this Scheme Information
Document or as may prescribed by SEBI Regulations from time to
time.
“NRI” or “Non Resident A person resident outside India who is a citizen of India or is a
Indian” person of Indian origin as per the meaning assigned to the term
under the Foreign Exchange Management (Investment in Firm or
Proprietary Concern in India) Regulations, 2000.
“Official Points of Places, as specified by AMC from time to time, where application
Acceptance” for subscription / redemption / switch will be accepted on ongoing
basis.
“Person of Indian Origin” A citizen of any country other than Bangladesh or Pakistan, if (a) he
at any time held an Indian passport; or (b) he or either of his parents

15 Invesco India Contra Fund

 or any of his grandparents was a citizen of India by virtue of
Constitution of India or the Citizenship Act, 1955 (57 of 1955); or
(c) the person is a spouse of an Indian citizen or person referred to
in sub-clause (a) or (b).
“Purchase Price” The price (being Applicable NAV) at which the Units can be
purchased and calculated in the manner provided in this Scheme
Information Document.
“Rating” an opinion regarding securities expressed in the form of standard
symbols or in any other standardized manner, assigned by a credit
rating agency and used by the issuer of such securities, to comply
with any requirement of the SEBI (Credit Rating Agencies)
Regulations, 1999 as may be amended from time to time.
“Reserve Bank of India” or Reserve Bank of India established under the Reserve Bank of India
“RBI” Act, 1934
“Redemption” or Redemption of Units of the Scheme as permitted.
“Repurchase”
“Redemption Price” The price (being Applicable NAV minus Exit Load) at which the
Units can be redeemed and calculated in the manner provided in this
Scheme Information Document.
“Registrar and Transfer KFin Technologies Private Limited, currently acting as registrar to
Agent” or “RTA” the Scheme, or any other registrar appointed by the AMC from time
to time.
“Regulatory Agency” GOI, SEBI, RBI or any other authority or agency entitled to issue or
give any directions, instructions or guidelines to the Mutual Fund.
“Repo” or “Reverse Repo” Sale / Purchase of Government Securities, corporate debt securities
with simultaneous agreement to repurchase / resell them at a later
date.
“Scheme Information This document issued by Invesco Mutual Fund setting forth
Document” or “SID” concisely the information about offering of Units by Scheme for
subscription that a prospective investor ought to know before
investing.
“SEBI” Securities and Exchange Board of India, established under the
Securities and Exchange Board of India Act, 1992.
“SEBI (MF) Regulations” or Securities and Exchange Board of India (Mutual Funds)
“the Regulations” Regulations, 1996, as amended from time to time.
“Statement of Additional The document issued by Invesco Mutual Fund containing details of
Information” or “SAI” Invesco Mutual Fund, its constitution, and certain tax, legal and
general information. SAI is legally a part of the SID.
“Sponsor” Invesco Hong Kong Ltd.
“Sale” or “Subscription” Sale or allotment of Units to the Unit holder upon subscription by
the investor / applicant under the Scheme.
“Switch” Redemption of a unit in any Scheme (including the plans / options
therein) of the Mutual Fund against purchase of a unit in another
scheme (including plans / options therein) of the Mutual Fund,
subject to completion of lock-in period, if any, of the units of the
Scheme from where the units are being switched.
“Systematic Investment Facility given to the Unit holders to invest specified sums in the
Plan” / “SIP” Scheme on periodic basis by giving a single instruction.
“Systematic Transfer Plan” / Facility given to the Unit holders to transfer sums on periodic basis
“STP” from one scheme to another Scheme launched by the Mutual Fund
from time to time by giving a single instruction.
“Systematic Withdrawal Facility given to the Unit holders to withdraw amounts from the
Plan” / “SWP” Scheme on periodic basis by giving a single instruction.
“Tri-Party Repo” / Tri-party Repo means a repo contract where a third entity (apart
“TREPS” from the borrower and lender), called a Tri-party Agent, acts as an
intermediary between the two parties to the repo to facilitate
services like collateral selection, payment and settlement, custody
and management during the life of the transaction.
“Trustee” / “Trustee Invesco Trustee Pvt. Ltd., a Company incorporated under the

16 Invesco India Contra Fund

 Company” Companies Act, 1956 and approved by SEBI to act as the Trustee
for the Scheme(s) of Invesco Mutual Fund.
“Trust Deed” The Deed of Trust executed on April 27, 2006 thereby establishing
an irrevocable trust called Lotus India Mutual Fund, subsequently
renamed as Invesco Mutual Fund, as amended by the First Deed of
Variation dated January 16, 2009, by the Second Deed of Variation
dated March 28, 2013 and by the Third Deed of Variation dated
April 7, 2016
“Unit” The interest of the Unit holder which consists of each Unit
representing one undivided share in the assets of the Scheme of
Invesco Mutual Fund.
“Unit holder” or “Investor” A person holding Unit(s) in the Scheme of Invesco Mutual Fund
offered under this document.

ABBREVIATION

In this SID the following abbreviations have been used:

“AMFI” Association of Mutual Funds in India

“AOP” Association of Persons
“BSE StAR MF" BSE Stock Exchange Platform for Allotment and Repurchase of Mutual Funds
Units
“BOI” Body of Individuals
“EFT” Electronic Funds Transfer
“HUF” Hindu Undivided Family
“ICEX MF” ICEX Stock Exchange Platform of Indian Commodity Exchange Ltd. (ICEX)
“IDCW” Income Distribution cum Capital Withdrawal
“IMPS” Immediate Payment Service
“MFSS” Mutual Fund Services System of the National Stock Exchange of India Ltd.
“MFU” MF Utilities India Private Limited
“NACH” National Automated Clearing House
“NEFT” National Electronic Fund Transfer
“POA” Power of Attorney
“RTGS” Real Time Gross Settlement

INTERPRETATION
For all purposes of this SID, except as otherwise expressly provided or unless the context otherwise
requires:
o all references to the masculine shall include the feminine and all references to the singular shall
include the plural and vice-versa.
o all references to “dollars” or “$” refer to United States Dollars and “Rs.” or “₹ ” refer to Indian
Rupees. A “crore” means “ten million” and a “lakh” means a “hundred thousand”.
o References to times of day (i.e. a.m. or p.m.) are to Mumbai (India) times and references to a
day are to a calendar day including non Business Day.

17 Invesco India Contra Fund

F. DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY

It is confirmed that the Due Diligence Certificate duly signed by the Head - Compliance & Risk of AMC
has been submitted to SEBI, which reads as follows:

It is confirmed that:
i. the Scheme Information Document has been prepared in accordance with the SEBI (Mutual
Funds) Regulations, 1996 and the guidelines and directives issued by SEBI from time to time.
ii. all legal requirements connected with the launching of the Scheme as also the guidelines,
instructions, etc., issued by the Government and any other competent authority in this behalf,
have been duly complied with.
iii. the disclosures made in the Scheme Information Document are true, fair and adequate to enable
the investors to make a well informed decision regarding investment in the Scheme.
iv. the intermediaries named in the Scheme Information Document and Statement of Additional
Information are registered with SEBI and their registration is valid, as on date.
v. the contents of the Scheme Information Document including figures, data, yields, etc. have been
checked and are factually correct.

For Invesco Asset Management (India) Pvt. Ltd.

(Investment Manager to Invesco Mutual Fund)

Sd/-
Suresh Jakhotiya
Head - Compliance and Risk
Place: Mumbai
Date: October 30, 2021

18 Invesco India Contra Fund

SCHEMES AT GLANCE

INVESTMENT OBJECTIVE AND ASSET ALLOCATION PATTERN OF EXISTING OPEN

ENDED EQUITY SCHEMES OF INVESCO MUTUAL FUND:

19 Invesco India Contra Fund

20 Invesco India Contra Fund
II. INFORMATION ABOUT THE SCHEME

A. TYPE OF THE SCHEME:

Invesco India Contra Fund is an open ended equity scheme following contrarian investment strategy.

B. INVESTMENT OBJECTIVE

To generate capital appreciation by investing predominantly in Equity and Equity Related Instruments
through contrarian investing.

However, there is no assurance or guarantee that the investment objective of the Scheme will be
achieved. The Scheme does not assure or guarantee any returns.

C. ASSET ALLOCATION PATTERN

Under normal circumstances, the asset allocation of the Scheme would be as follows:

Indicative Allocations Risk Profile

Instruments (% of net assets)
Minimum Maximum High/Medium / Low
Equity and Equity Related Instruments 65 100 High
Debt & Money Market Instruments 0 35 Low to Medium

Debt instruments may include securitized debt upto 35% of the net assets of the Scheme. The Scheme
will not invest in foreign securitized debt.

The Scheme may use derivatives for purposes as may be permitted from time to time. The maximum
derivative position will be restricted to 50% of the net assets of the Scheme. The cumulative gross
exposure through equity, debt, derivative positions other permitted securities/assets and such other
securities/assets as may be permitted by SEBI from time to time should not exceed 100% of the net
assets of the scheme.

The Scheme may enter into repos/reverse repos other than repo in corporate debt securities as may be
permitted by RBI. From time to time, the Scheme may hold cash. A part of the net assets may be invested
in the Triparty repo (TREPS) on Government securities or treasury bills or repo or in an alternative
investment as may be provided by RBI to meet the liquidity requirements.

The Scheme may engage in short selling of securities in accordance with the framework relating to short
selling and securities lending and borrowing specified by SEBI from time to time.

The Scheme shall not deploy more than 50% of its net assets in securities lending. In addition to above
limit, in case of debt instruments, the Scheme shall not deploy more than 5% of the net assets in
securities lending to any single counter party.
Pending deployment of the funds in securities in terms of investment objective of the Scheme, the AMC
may park the funds of the Scheme in short term deposits of the Scheduled Commercial Banks, subject to
the guidelines issued by SEBI vide its circular dated April 16, 2007, as may be amended from time to
time.

Subject to the Regulations, the asset allocation pattern indicated above may change from time to time,
keeping in view market conditions, market opportunities, applicable regulations and political and
economic factors. It must be clearly understood that the percentages stated above are only indicative and
not absolute and that they can vary substantially depending upon the perception of the Fund Manager, the
intention being at all times to seek to protect the interests of the Unit holders. Such changes in the
investment pattern will be for short term and defensive considerations.

21 Invesco India Contra Fund

D. WHERE WILL THE SCHEME INVEST?

The corpus of the Scheme will be invested in Equity & Equity Related Instruments, Debt and Money
Market Instruments and other permitted securities which will include but not limited to:

• Equity and Equity Related Instruments:

1. Equity share is a security that represents ownership interest in a company. It is issued to those
who have contributed capital in setting up an enterprise.

2. Equity Related Instruments are securities which give the holder of the security right to receive
equity shares on pre agreed terms. It includes convertible debentures, convertible preference
shares, warrants carrying the right to obtain equity shares, equity derivatives and such other
instrument as may be specified by SEBI from time to time. Equity Derivatives are financial
instrument, generally traded on an exchange, the price of which is directly dependent upon (i.e.
“derived from”) the value of equity shares or equity indices. Derivatives involve the trading of
rights or obligations based on the underlying, but do not directly transfer property.

3. Derivatives:
Futures are exchange-traded contracts to sell or buy financial instruments for future delivery at
an agreed price. There is an agreement to buy or sell a specified quantity of financial instrument
on a designated future date at a price agreed upon by the buyer and seller at the time of entering
into a contract. To make trading possible, the exchange specifies certain standardized features of
the contract. A futures contract involves an obligation on both the parties to fulfill the terms of
the contract.

SEBI has permitted futures contracts on indices and individual stocks with maturity of 1 month,
2 months and 3 months on a rolling basis. The futures contracts are settled on last Thursday (or
immediately preceding trading day if Thursday is a trading holiday) of each month. The final
settlement price is the closing price of the underlying stock(s)/index. However, pursuant to
SEBI Circular No. SEBI/HO/MRD/DOPI/CIR/P/2018/161 dated December 31, 2018, stock
derivatives are physically settled.

Option is a contract which provides the buyer of the option (also called holder) the right,
without the obligation, to buy or sell a specified asset at the agreed price on or upto a particular
date. For acquiring this privilege, the buyer pays premium (fee) to the seller. The seller on the
other hand has the obligation to buy or sell specified asset at the agreed price and for this
obligation he receives premium. The premium is determined considering number of factors such
as the market price of the underlying asset/security, number of days to expiry, risk free rate of
return, strike price of the option and the volatility of the underlying asset. Option contracts are
of two types viz:

Call Option - The option that gives the buyer the right to buy specified quantity of the
underlying asset at the strike price is a call option. The buyer of the call option (known as the
holder of call option) can call upon the seller of the option (writer of the option) and buy from
him the underlying asset at the agreed price at any time on or before the expiry of the option.

The seller (writer of the option) on the other hand has the obligation to sell the underlying asset
if the buyer of the call option decides to exercise his option to buy.

Put Option - The right to sell is called put option. A Put option gives the holder (buyer) the right
to sell specified quantity of the underlying asset at the strike price. The seller of the put option
(one who is short Put) however, has the obligation to buy the underlying asset at the strike price
if the buyer decides to exercise his option to sell.

There are two kind of options based on the date of exercise of right. The first is the European
Option which can be exercised only on the maturity date. The second is the American Option
which can be exercised on or before the maturity date.

22 Invesco India Contra Fund

 W.e.f. December 31, 2010, all the options contracts in F&O Segment will have European
Option only.

• Debt Instruments:

1. Non-convertible debentures as well as bonds are securities issued by companies / institutions

promoted / owned by the Central or State governments and statutory bodies, which may or may
not carry a Central/State government guarantee, public and private sector banks, All India
Financial Institutions, private sector companies. These instruments may be secured against the
assets of the company or unsecured and generally issued to meet the short term and long term
fund requirements. Rate of interest on such instruments would depend upon spread over
corresponding government security, perceived risk, rating, tenor etc. These instruments include
fixed interest security with/without put/call option, floating rate bonds, zero coupon bonds.
Frequency of the interest payment could be either monthly/quarterly/half-yearly or annually.

2. Floating rate debt instruments are debt instruments issued by central government, state
government, corporates, PSUs etc. with coupon reset periodically. The periodicity of reset could
be daily, monthly, quarterly, half yearly and annually or any other periodicity as may be
mutually agreed between the issuer and the Fund. The fund manager will have the flexibility to
invest the debt component into floating rate debt securities in order to reduce the impact of
rising interest rate in the economy.

3. Securitised Assets: Securitization is a structured finance process which involves pooling and
repackaging of cash-flow producing financial assets into securities that are then sold to
investors. They are termed as Asset Backed Securities (ABS) or Mortgage Backed Securities
(MBS). ABS are backed by other assets such as credit card, automobile or consumer loan
receivables, retail installment loans or participations in pools of leases. Credit support for these
securities may be based on the underlying assets and/or provided through credit enhancements
by a third party. MBS is an asset backed security whose cash flows are backed by the principal
and interest payments of a set of mortgage loans. Such mortgage could be either residential or
commercial properties. ABS/MBS instrument reflect the undivided interest in the underlying
assets and do not represent the obligation of the issuer of ABS/MBS or the originator of
underlying receivables. Securitization often utilizes the services of Special Purpose Vehicle.

Note: The Scheme will not invest in foreign securitized debt.

4. Pass Through Certificate (PTC) represents beneficial interest in an underlying pool of cash
flows. These cash flows represent dues against single or multiple loans originated by the sellers
of these loans. PTCs may be backed, but not exclusively, by receivables of personal loans, car
loans, two wheeler loans and other assets subject to applicable regulations.

5. Securities created and issued by the Central and State Governments as may be permitted by
RBI, securities guaranteed by the Central and State Governments (including but not limited to
coupon bearing bonds, zero coupon bonds and treasury bills). Special securities issued by the
Government of India to entities like Oil Marketing Companies, Fertilizer Companies, the Food
Corporation of India, etc. (popularly called oil bonds, fertilizer bonds and food bonds
respectively) and special securities issued by the State Government under “Ujjwal Discom
Assurance Yojna (UDAY) Scheme for Operational and Financial Turnaround of Power
Distribution Companies (DISCOMs)” notified by Ministry of Power vide Office Memorandum
(No 06/02/2015-NEF/FRP) dated November 20, 2015, (popularly called as UDAY Bonds).
Central Government Securities are sovereign debt obligations of the Government of India with
zero-risk of default and issued on its behalf by RBI. They form part of Government’s annual
borrowing programme and are used to fund the fiscal deficit along with other short term and
long term requirements. Such securities could be fixed rate, fixed interest rate with put/call
option, zero coupon bond, floating rate bonds, capital indexed bonds, fixed interest security with
staggered maturity payment etc.

6. SEBI vide Circular dated March 4, 2021 has clarified that Non-Convertible Preference Shares
(NCPS) shall be treated as Debt instruments.

23 Invesco India Contra Fund

• Debt derivative instruments:
 Interest Rate Swap - An Interest Rate Swap (IRS) is a financial contract between two
parties exchanging or swapping a stream of interest payments for a “notional principal”
amount on multiple occasions during a specified period. Such contracts generally involve
exchange of a “fixed to floating” or “floating to fixed rate” of interest. Accordingly, on
each payment date that occurs during the swap period, cash payments based on fixed/
floating and floating rates are made by the parties to one another.

 Forward Rate Agreement - A Forward Rate Agreement (FRA) is a financial contract

between two parties to exchange interest payments for a ‘notional principal’ amount on
settlement date, for a specified period from start date to maturity date. Accordingly, on the
settlement date, cash payments based on contract (fixed) and the settlement rate, are made
by the parties to one another. The settlement rate is the agreed benchmark/ reference rate
prevailing on the settlement date.

 Debt Instruments with special features viz. subordination to equity (absorbs losses before
equity capital) and /or convertible to equity upon trigger of a pre-specified event for loss
absorption. Additional Tier I bonds and Tier 2 bonds issued under Basel III framework are
some instrument which may have above referred special features.

• Money Market Instruments:

1. Certificate of Deposits (CDs) is a negotiable money market instrument issued by scheduled

commercial banks and select all-India Financial Institutions that have been permitted by the RBI
to raise short term resources. The minimum denomination of CD should be Rs. 1 Lac and in
multiples of Rs. 1 Lac thereafter. The maturity period of CDs issued by the Banks is between 7
days to one year whereas in case of FIs, maturity is between one year to 3 years from the date of
issue. CDs may be issued at a discount to face value. Banks/ FIs cannot buyback their own CDs
before maturity.

2. Commercial Paper (CPs) is an unsecured negotiable money market instrument issued in the
form of a promissory note, generally issued by the corporates, primary dealers and all India
Financial Institutions as an alternative source of short term borrowings. They are issued at a
discount to the face value as may be determined by the issuer. CP is traded in secondary market
and can be freely bought and sold before maturity.

3. Non-Convertible Debentures of original or initial maturity upto one year issued by corporate
(including NBFCs) by way of private placement in accordance with the provisions of master
circular of RBI vide reference no. RBI/MRD/2016-17/32 dated July 7, 2016.

4. Treasury Bills (T-Bills) are issued by the Government of India to meet their short term
borrowing requirements. T-Bills are issued for maturities of 91 days, 182 days and 364 days. T-
bills are issued at a discount to their face value and redeemed at par.

5. Tri-party Repo means a repo contract where a third entity (apart from the borrower and lender),
called a Tri-Party Agent, acts as an intermediary between the two parties to the repo to facilitate
services like collateral selection, payment and settlement, custody and management during the
life of the transaction.

6. Repo (Repurchase Agreement) or Reverse Repo is a transaction in which two parties agree to
sell and purchase the same security with an agreement to purchase or sell the same security at a
mutually decided future date and price. The transaction results in collateralized borrowing or
lending of funds. When the seller sells the security with an agreement to repurchase it, it is Repo
transaction whereas from the perspective of buyer who buys the security with an agreement to
sell it at a later date, it is reverse repo transaction. Presently in India, G-Secs, State Government
Securities, T-Bills and Corporate Debt Securities are eligible for Repo/Reverse Repo. However,
the Scheme will not participate in repo in corporate debt securities.

7. Clearcorp Repo Order Matching System (CROMS) is a Straight Through Processing (STP)
enabled anonymous Order Matching Platform launched by Clearcorp Dealing Systems (India)

24 Invesco India Contra Fund

 Ltd. for facilitating dealing in Market Repos in all kinds of Government Securities. It enables
dealing in two kinds of Repos – (1) Basket and (2) Special Repos. Building on the
internationally popular Standard Repo Model, Basket Repos enables dealing in baskets wherein
repoable securities have been classified based on instrument type, liquidity and outstanding
tenor and clustered together. While borrowers can raise funds through a Basket Repo against
any of security forming part of the concerned basket, the lender is assured that it would receive
any of the securities forming part of the concerned basket. Details of security allocated are
known to both counterparties post trade. As for Special Repos, which is the conventional repo,
both borrower and lender are aware of the underlying security against which deal is sought to be
concluded. CROMS provides better transparency, repo rate discovery and operational
efficiency.

8. Bills Rediscounting.

9. Cash Management Bills (CMB) are issued by Government of India to meet the temporary cash
flow mismatches of the Government. CMBs are non-standard, discounted instruments issued for
maturities less than 91 days. CMBs are issued at discount to the face value through auctions.
The settlement of the auction will be on T+1 basis.

• Any other Scheme of Invesco Mutual Fund or of any other mutual fund. Such investment will be
subject to limits specified under SEBI Regulations and AMC will not be entitled to charge
management fees on such investments.

• Pending deployment of funds as per the investment objective of the Scheme, the funds may be
parked in short term deposits of the Scheduled Commercial Banks, subject to guidelines and
limits specified by SEBI.

• Any other securities as may be permitted by SEBI / RBI from time to time.

The securities / instruments mentioned above and such other securities the Scheme is permitted to invest
in could be listed, unlisted, privately placed, secured, unsecured, rated or unrated and of any maturity.
The securities may be acquired through initial public offering (IPOs), secondary market, private
placement, rights offer, negotiated deals. Further investments in debentures, bonds and other fixed
income securities will be in instruments which have been assigned investment grade rating by the credit
rating agency

The Scheme may invest upto 5% of its net assets in unrated debt instruments subject to conditions that
such investments can be made only in such instruments, including bills re-discounting, usance bills, etc.,
that are generally not rated and for which separate investment norms or limits are not provided in MF
Regulations & various circulars issued thereunder. All such investments shall be made with the prior
approval of the Board of AMC & Trustee.

Securities Lending
Securities lending means the lending of securities to approved intermediary for a fixed period of time, at
a negotiated compensation in order to enhance returns of the portfolio. The securities lent will be
returned by approved intermediary on the expiry of stipulated period.

Subject to the SEBI Regulations, the Scheme may engage in securities lending. Such lending shall be
made when, in view of the fund manager, it could provide reasonable returns commensurate with risks
associated with such lending and shall be made in accordance with the investment objective of the
Scheme.

The Scheme may lend securities from its portfolio in accordance with the Regulations and applicable
SEBI guidelines. Securities lending shall enable the Scheme to earn income in the form of lending fees
that may partially offset its expenses and thereby reduce the effect these expenses have on the Scheme’s
ability to provide investment returns that correspond generally to the performance of its Benchmark
Index. The Scheme will pay administrative and other expenses / fees in connection with the lending of
securities. The Scheme will comply with the guidelines for securities lending specified by SEBI/
Clearing House of stock exchange(s).

25 Invesco India Contra Fund

The Scheme shall not deploy more than 50% of its net assets in securities lending. In addition to above
limit, in case of debt instruments, the Scheme shall not deploy more than 5% of the net assets in
securities lending to any single counter party.

The Scheme will comply with all the applicable circulars issued by SEBI as regard to securities lending
viz. SEBI Circular no. MFD/CIR/01/047/99 dated February 10, 1999 and SEBI Circular No.
SEBI/IMD/CIR No 14/ 187175/2009 dated December 15, 2009 and framework for short selling and
borrowing and lending of securities notified by SEBI vide its circular no. MRD/DoP/SE/ Dep/Cir-
14/2007 dated December 20, 2007, as may be amended from time to time.

Securities Lending & Borrowing Mechanism:

SEBI vide its circular no. MRD/DoP/SE/Dep/Cir-14.2007 dated December 20, 2007 has laid down broad
framework for Securities Lending & Borrowing (SLB) Mechanism. The guidelines were amended
subsequently vide SEBI circulars dated October 31, 2008, January 6, 2010, October 7, 2010, November
22, 2012, May 30, 2013, November 17, 2017 and August 24, 2018. SLB is operated through Clearing
House of the Stock Exchange(s) on automated, screen based, order-matching platform and this platform
is independent of other trading platforms.

All the securities traded in the Futures & Option (Derivatives) Segment and Liquid Index Exchange
Traded Funds (ETFs) (An Index ETF shall be deemed ‘liquid’ provided the Index ETF has traded on at
least 80% of the days over the past 6 months and its impact cost over the past 6 months is less than or
equal to 1%) are eligible for lending & borrowing under the SLB. In addition to above, the scrip that
fulfills the following criteria shall be considered eligible for SLB:

(a) Scrip classified as ‘Group I security’ as per SEBI circular MRD/DoP/SE/Cir-07/2005 dated
February 23, 2005; and
(b) Market Wide Position Limit (MWPL) of the scrip, as defined at para 12 (a) of Annexure 2 of the
MRD/DoP/SE/Dep/Cir-14/2007 dated December 20, 2007, shall not be less than Rs.100 crores;
and
(c) Average monthly trading turnover in the scrip in the Cash Market shall not be less than Rs.100
crores in the previous six months.

SLB presently offers contract of different tenures ranging from 1 day to 12 months. SLB also permits
roll-over facility whereby any lender or borrower who wishes to extend an existing lent or borrow
position shall be permitted to roll-over such positions. The total duration of the contract after taking into
account rollovers shall not exceed 12 months from the date of the original contract and multiple rollovers
of a contract is permitted. However, rollover shall not permit netting of counter positions, i.e. netting
between the ‘borrowed’ and ‘lent’ positions of a client. All categories of investors including retail,
institutional etc. will be permitted to borrow and lend securities. Trading hours for SLB shall be from 9
AM to 5 PM on the SLB market segment of the stock exchange. Quotations (Lending Fees) are quoted
per share and lot size for SLB is 1 share. First Thursday of every month is the reverse leg settlement day
and in case, the first Thursday is the non-business day, next working day is the settlement day for SLB
transactions. SLB transactions are guaranteed by the clearing house and hence there is no settlement risk
and counter party risk. SLB provides facility for early recall/ early repayment of shares however early
recall or early repayment is at the market determined rate. Clearing houses are required to frame suitable
risk management systems to guarantee delivery of securities to borrower and return of securities to the
lender. In case the borrower fails to meet the margin obligation, clearing house shall obtain securities and
square off the position of such defaulting borrower, failing which there will be financial close out. The
treatment of corporate actions during the lending period a security is lent is follows:

1. Dividend: The amount of dividend is worked and recovered from the borrower on the book closure/
record date and passed on to the lender.
2. Stock Split: The position of the borrower would be proportionately adjusted so that the lender
receives the revised quantity of shares.
3. In case of other corporate actions like bonus/merger/amalgamation/open offer etc., the contracts
would be foreclosed on the ex-date and the lending fees would be recovered on a pro-rata basis from
the lender and returned to the borrower.
4. In the event of the corporate actions which is in nature of AGM/EGM, there shall be two set of
contracts for each security available for trading:

26 Invesco India Contra Fund

 a. Contracts which shall continue to be mandatorily foreclosed in the event of AGM/EGM
b. Contracts which shall not be foreclosed in the event of AGM/EGM

The Securities Lending and Borrowing Mechanism offered by the Clearing House is explained by way of
flow chart as given below:

1 1
Places ‘sell’ order; Places ‘buy’ order;
Lender SLB Trading
specifies qty and lending specifies qty and lending Borrower
Window
fee (Day T). No Margin if fee (Day T). Margins for
early Pay-in. lending fees blocked real
time from collateral

3
Pay-in of securities 2 3
by 09.30 am on Trade matching and execution Pay-in of
T+1. On Pay-in, Execution price is Lending fee lending fees by
margins, if any, 09.30 am on
release T+1 & also
margins for
lending price
are blocked
4

Pay-out of
lending fees by
11.30 am on Clearing House
T+1

4 Securities pay-
out by 11.30
am on T+1

Reversal date (R day) i.e. 1st Thursday of every series

Lender Borrower

2 1

Pay-in of
Securities securities by
pay-out by 09.30 am and
11.30 am Margins
Clearing House released

Notes:
1. In case of default in securities pay-in by Lender on T day, there will be financial close-out.
2. In case of default in securities pay-in by Borrower on R day, there will be auction and securities
received in auction will be returned to the Borrower.
3. In case unable to receive shares in auction, there will be financial close-out.

STOCK SELECTION PROCESS

Based on the Scheme’s objective, we start filtering down the possible investment universe to more
attractive opportunities. The process involves company, industry, economic and technical analysis in

27 Invesco India Contra Fund

alignment with the investment objective of the underlying fund. The Scheme’s investment objective has
implications for definition of the universe, company selection, industry and asset allocation.

 Matrix Analysis
As part of the Matrix approach we analyze, bottom up, the fundamentals of the companies that are part of
the universe. We use external research and find it useful as a source of information and financial models.
However, we believe our direct and in-depth interaction with a company and its competitors, suppliers
and buyers-wherever feasible and possible, helps us arrive at our own unique insight into the company.
The maximum inefficiency in the markets is at the company level and an in-depth research effort can
generate a knowledge advantage and superior performance.

To this, we add our top down economic views and industry views - leading to industry and asset
allocation decisions. The economic and industry analysis also has its implications on company selection.
Technical analysis is another input for asset allocation decisions. All of this is in keeping with the
investment objective of the specific scheme.

 Security Selection
To help select stocks for the portfolio, we use a proprietary stock categorization system. The objective of
our stock categorization system is to enable us to identify stocks that are likely to be the best investments
from within our universe. Each category of stock has a description of fundamental attributes that we
expect the company to possess. The categorizations are as follows:

Stock Growth Financial

Descriptions (eg.) Company Attribute (eg.)
Category Prospects (eg.) Parameter (eg.)
Entrepreneur vision, Operating
Star Young companies High growth
scalability Leverage
Established In line or better Track record of leadership, Industry leading
Leader
companies than industry globally competitive margin / ROE
Young / established Better than Unique proposition and / Margin & ROE
Warrior
companies industry or right place, right time expansion
Company with Management intent to Value of asset /
Diamond Low growth
valuable assets unlock value business
Company in a Intrinsic strengths in core P2P, ROE
Frog Prince Back to growth
turnaround situation business expansion*
Corporate event,
Opportunistic
Shotgun Positive surprise restructuring, earnings Event visibility
investment
news
Integration, cost
Call on the cycle is
Commodities Positive efficiency, globally Profit leverage
paramount
competitive
* P2P – Path to Profit, ROE – Return on Equity

Stocks that fit into one of these categories typically display superior return profiles, but more importantly
this enables fund managers to focus on the attributes that drive stock price performance and keep a watch
for red flags.

The financial parameters under stock selection process are explained as follows:
 Margin - EBITDA margin or PAT Margin
 EBITDA - Earnings before interest, taxes, depreciation and amortization.
 EBITDA Margin - Earning before interest, taxes, depreciation and amortization /
Revenues
 PAT- Profit after Tax
 PAT margin- Profit after Tax / Revenues
 Return on Equity (ROE) - Profit after Tax / Net Worth.
 Net worth - Equity share capital + Reserves.

28 Invesco India Contra Fund

 ROE Expansion - increasing trend in ROE over time.
 Value of Asset or business - Market or replacement value of the assets after accounting for
liabilities.
 Operating Leverage - Sensitivity of margins to increase in revenues.
 Profit Leverage - Sensitivity of Profits (EBITDA or PAT) to changes in unit price or total
revenues.
 Path 2 Profit - refers to the various levers such as, but not limited to, cost reduction, revenue
growth, revenue mix, discontinuing of a product/business, asset sales, change in capital structure
that a company might adopt to improve profitability / reduce losses.

 Portfolio Construction
The fund manager has the primary responsibility for portfolio construction based on the investment
objective of the Scheme. Portfolio construction guidelines are laid down for each fund and reviewed on a
need basis and otherwise regularly on a quarterly basis. Every investment decision we make is by
keeping in mind the investment objective of the Scheme and how the security will affect the overall
portfolio. In addition, we also look into the current economic / industry views that impact industry and
asset allocation decisions for the fund. Technical views which are relevant to asset allocation, if
applicable are also taken into consideration. Our preference is for companies with the characteristics as
defined in our stock categorization framework.

 Sell Discipline
We may sell a stock because the fundamentals of a company, industry or economy have changed or a
company's competitive advantage appears to have deteriorated. It could also be a function of alternative
opportunities being available at a more attractive valuation or an inability to justify prevailing valuations.

 Oversight
The role of monitoring and reviewing is undertaken by the investment committee consisting of Chief
Executive Officer, Head - Equity Funds, Head - Fixed Income, Chief Financial Officer & Chief
Operating Officer and Head - Compliance & Risk and by any additional member who may be included/
nominated to the committee which meets on a periodic basis. The committee is empowered to establish
internal norms such as industry allocation, asset allocation etc. for each fund and to monitor and review
this on an ongoing basis.

E. INVESTMENT STRATEGY

The fund seeks to generate capital appreciation through contrarian investing.

The fund uses following three levers to construct the portfolio:

(i) Stock selection - It follows a bottom-up approach for stock selection and has a contrarian bias. Such
companies generally display following characteristics: companies trading below fundamental value;
companies in turnaround phase and growth companies available at attractive valuations.

(ii) Sector allocation - It takes active overweight/underweight sector positions w.r.t. the benchmark,
based on the top-down view and valuation opportunities.

(iii) Capitalization bias - The fund invests across market capitalization.

RISK CONTROL
Risk is an inherent part of the investment function. Effective risk management is critical to fund
management for achieving financial soundness. Investments by the Scheme shall be made as per the
investment objectives of the Scheme and provisions of SEBI regulations. AMC has incorporated
adequate safeguards to manage risk in the portfolio construction process. Risk control would involve
managing risk in order to keep it in line with the investment objective of the Scheme. The risk control
process involves identifying & measuring the risk through various risk measurement tools like but not
limited to VAR, tracking error etc. Further AMC has implemented Bloomberg Asset and Investment
Manager System as Front Office System (FOS) for managing risk. The system has inbuilt feature which
enables the fund manager calculate various risk ratios, average duration and analyze the same.

INVESTMENT IN DERIVATIVES

29 Invesco India Contra Fund

The Scheme may invest in various derivative instruments which are permissible under the applicable
Regulations and shall also be subject to the investment objective and strategy of the Scheme and the
internal limits if any, as laid down from time to time. These include but are not limited to futures (both
stock and index) and options (stock and index).

Derivatives are financial contracts of pre-determined fixed duration, like stock futures/options and index
futures and options, whose values are derived from the value of an underlying primary financial
instrument such as interest rates, exchange rates, commodities, and equities.

Derivatives can be either exchange traded or can be over the counter (OTC). Exchange traded derivatives
are listed and traded on stock exchanges whereas OTC derivative transactions are generally structured
between two counterparties.

The risks associated with derivatives are similar to those associated with equity investments. The
additional risks could be on account of
• Illiquidity;
• Potential mis - pricing of the Futures/Options;
• Inability of derivatives to correlate perfectly with the underlying (Indices, Assets, Exchange
Rates)
• Cost of hedge can be higher than adverse impact of market movements;
• An exposure to derivatives in excess of the hedging requirements can lead to losses;
• An exposure to derivatives can also limit the profits from a genuine investment transaction.

Exchange traded derivative contracts in stocks are physical settled and indices in India are currently cash
settled at the time of maturity.

The Scheme will comply with all the applicable circulars issued by SEBI as regard to derivatives viz.
SEBI Circular no. SEBI/MFD/CIR No. 03/ 158 /03 dated June 10, 2003, no. DNPD/Cir-29/2005 dated
September 14, 2005, no. SEBI/IMD/CIR No. 9/108562/07 dated November 16, 2007, no. Cir/ IMD/ DF/
11/ 2010 dated August 18, 2010.

Concepts and Examples

Futures
Futures (Index & Stocks) are forward contracts traded on the exchanges & have been introduced both by
BSE and NSE. Currently futures of 1 month (near month), 2 months (next month) and 3 months (far
month) are traded on these exchanges. These futures expire on the last working Thursday of the
respective months.

Illustration with Index Futures

In case the Nifty spot is trading at say, Rs. 11,700, and the fund manager has a view that it will depreciate
going forward; the Scheme can initiate a sell transaction of Nifty futures at Rs. 11,736 without holding a
portfolio of equity stocks or any other underlying long equity position. Once the price falls to Rs. 11,500
after say, 20 days, the Scheme can initiate a square-up transaction by buying the said futures and book a
profit of Rs. 236.

Correspondingly, if the fund manager has a positive view he can initiate a long position in the index /
stock futures without an underlying cash/ cash equivalent subject to the extant regulations.

There are futures based on stock indices as mentioned above as also futures based on individual stocks.
The profitability of index /stock future as compared to an individual security will inter-alia depend upon:
• The carrying cost,
• The interest available on surplus funds, and
• The transaction cost.

Example of a typical future trade and the associated costs:

Index Actual

30 Invesco India Contra Fund

 Particulars Future Purchase
of Stocks
Index at the beginning of the month 11,700 11,700
Price of 1 Month Future 11,736
A. Execution Cost: Carry and other index future costs 36
B. Brokerage Costs: 5.868 14.04
(0.05% of Index Future and 0.12% for spot stocks)
C. Gains on Surplus Funds: 49.195 0
(Assumed 6.00% p.a. return on 85% of the money left after paying 15% margin)
(6.00%*11700*85%*30days/365)
Total Cost (A+B-C) -7.33 14.04

Few strategies that employ stock /index futures and their objectives:

(a) Arbitrage
(1) Buying spot and selling future: Where the stock of a company “A” is trading in the spot market at
Rs. 100 while it trades at Rs. 102 in the futures market, then the Scheme may buy the stock at spot and
sell in the futures market thereby earning Rs. 2.

Buying the stock in cash market and selling the futures results into a hedge where the Scheme has locked
in a spread and is not affected by the price movement of cash market and futures market. The arbitrage
position can be continued till expiry of the future contracts when there is a convergence between the cash
market and the futures market. This convergence enables the Scheme to generate the arbitrage return
locked in earlier.

(2) Selling spot and buying future: In case the Scheme holds the stock of a company “A” at say Rs. 100
while in the futures market it trades at a discount to the spot price say at Rs. 98, then the Scheme may sell
the stock and buy the futures.

On the date of expiry of the stock future, the Scheme may reverse the transactions (i.e. buying at spot &
selling futures) and earn a risk-free Rs. 2 (2% absolute) on its holdings without any dilution of the view
of the fund manager on the underlying stock.

Further, the Scheme can still benefit from any movement of the price in the upward direction, i.e. if on
the date of expiry of the futures, the stock trades at Rs. 110 which would be the price of the futures too,
the Scheme will have a benefit of Rs. 10 whereby the Scheme gets the 10% upside movement together
with the 2% benefit on the arbitrage and thus getting a total return of 12%.The corresponding return in
case of holding the stock would have been 10%.

Note: The same strategy can be replicated with a basket of Nifty-50 stocks (Synthetic NIFTY) and the
Nifty future index.

(b) Buying/ Selling Stock future:

When the Scheme wants to initiate a long position in a stock whose spot price is at say, Rs.100 and
futures is at 98, then the Scheme may just buy the futures contract instead of the spot thereby benefiting
from a lower cost.

In case the Scheme has a bearish view on a stock which is trading in the spot market at Rs.98 and the
futures market at say Rs. 100, the Scheme may subject to regulations, initiate a short position in the
futures contract. In case the prices align with the view and the price depreciates to say Rs. 90, the
Scheme can square up the short position thereby earning a profit of Rs.10 visa a vie a fall in stock price
of Rs. 8.

(c) Hedging:
The Scheme may use exchange-traded derivatives to hedge the equity portfolio. Both index and stock
futures and options may be used to hedge the stocks in the portfolio.

(d) Alpha Strategy:

31 Invesco India Contra Fund

The Scheme will seek to generate alpha by superior stock selection and removing market risks by selling
appropriate index. For example, one can seek to generate positive alpha by buying a bank stock and
selling Bank Nifty future.

Risk associated with these strategies:

1. Lack of opportunities;
2. Inability of derivatives to correlate perfectly with the underlying security; and
3. Execution risk, whereby ultimate execution takes place at a different rate than those devised by
the strategy.

Execution of these strategies depends upon the ability of the fund manager to identify and execute based
on such opportunities. These involve significant uncertainties and decision of fund manager may not
always be profitable. No assurance can be given that the fund manager will be able to identify or execute
such strategies.

Option Contracts (Stock and Index)

An Option gives the buyer the right, but not the obligation, to buy (call) or sell (put) a stock at an agreed-
upon price during a certain period of time or on a specific date.

Options are used to manage risk or as an investment to generate income. The price at which underlying
security is contracted to be purchased or sold is called the Strike Price.

Options that can be exercised on or before the expiration date are called American Options while,
Options that can be exercised only on the expiration date are called European Options

Options Risk / Return Pay-off Table

Stock/
Index Buy Call Sell Call Buy Put Sell Put
Options
View on
Positive Negative Negative Positive
Underlying
Premium Pay Receive Pay Receive
Risk Limited to Limited to premium
Unlimited Unlimited
Potential premium paid paid
Return
Unlimited Premium Received Unlimited Premium Received
Potential

Note: The above table is for the purpose of explaining concept of options contract. As per the current
Regulations, the Scheme cannot write option or purchase instrument with embedded write option.

Option contracts are of two types - Call and Put

Call Option: A call option gives the buyer, the right to buy specified quantity of the underlying asset at
the set strike price on or before expiration date and the seller (writer) of call option however, has the
obligation to sell the underlying asset if the buyer of the call option decides to exercise the option to buy.

Put Option: A put option gives the buyer the right to sell specified quantity of the underlying asset at the
set strike price on or before expiration date and the seller (writer) of put option however, has the
obligation to buy the underlying asset if the buyer of the put option decides to exercise his option to sell.

Index Options / Stock Options

Index options / Stock options are termed to be an efficient way of buying / selling an index/stock
compared to buying / selling a portfolio of physical shares representing an index for ease of execution
and settlement. The participation can be done by buying / selling either Index futures or by buying a
call/put option.

The risks are also different when index /stock futures are bought/sold visa- a- vis index/ stocks options as
in case of an index future there is a mark to market variation and the risk is much higher as compared to
buying an option, where the risk is limited to the extent of premium paid.

32 Invesco India Contra Fund

In terms of provision of SEBI circular dated August 18, 2010, the Scheme shall not write options or
purchase instruments with embedded written options.

The illustration below explains how one can gain using Index call / put option. These same principals of
profit / loss in an Index option apply in toto to that for a stock option.

Call Option
Suppose an investor buys a Call option on 1 lot of Nifty 50 (Lot Size: 75 units)

 Nifty index (European option).

 Nifty 1 Lot Size: 75 units
 Spot Price (S): 11700
 Strike Price (x): 11800 (Out-of-Money Call Option)
 Premium: 56
Total Amount paid by the investor as premium [75*56] =4200

There are two possibilities i.e. either the index moves up over the strike price or remains below the strike
price.

Case 1- The index goes up

• An investor sells the Nifty Option described above before expiry:
Suppose the Nifty index moves up to 12000 in the spot market and the premium has moved to Rs 250
and there are 15 days more left for the expiry. The investor decides to reverse his position in the market
by selling his 1 Nifty call option as the option now is In the Money.
His gains are as follows:
• Nifty Spot: 12000
• Current Premium: Rs.250
• Premium paid: Rs.56
• Net Gain: Rs.250- Rs.56 = Rs.194 per unit
• Total gain on 1 lot of Nifty (75 units) = Rs.14550 (75*194)
In this case the premium of Rs.250 has an intrinsic value of Rs. 200 per unit and the remaining Rs. 50 is
the time value of the option.

• An investor exercises the Nifty Option at expiry

Suppose the Nifty index moves up to 11900 in the spot market on the expiry day and the investor decides
to reverse his position in the market by exercising the Nifty call option as the option now is in the money.
His gains are as follows:
• Nifty Spot: 11900
• Premium paid: Rs.56
• Exercise Price: 11800
• Receivable on exercise: 11900-11800 = 100
• Total Gain: Rs. 3300 {(100-56)*75}

In this case the realised gain is only the intrinsic value, which is Rs.100, and there is no time value.

Case 2 - The Nifty index moves to any level below 11800

Then the investor does not gain anything but on the other hand his loss is limited to the premium paid:

Net Loss is Rs.4200 (Loss is capped to the extent of Premium Paid) (Rs 56 Premium paid*Lot Size: 75
units).

Put Option
Suppose an investor buys a Put option on 1 lot of Nifty 50.
• Nifty 1 Lot Size: 75 units
• Spot Price (S): 11700
• Strike Price (x): 11600 (Out-of-Money Put Option)
• Premium: 40
• Total Amount paid by the investor as premium [75*40] = 3000

33 Invesco India Contra Fund

There are two possibilities i.e. either the index moves over the strike price or moves below the strike
price.

Let us analyze these scenarios.

Case 1 - The index goes down

• An investor sells the Nifty Option before expiry:
Suppose the Nifty index moves down to 11500 in the spot market and the premium has moved to Rs. 140
and there are 15 days more left for the expiry. The investor decides to reverse his position in the market
by selling his 1 Nifty Put Option as the option now is in the money. His gains are as follows:

 Nifty Spot: 11500

 Premium paid: Rs.40
 Net Gain: Rs.140 - Rs.40 = Rs.100 per unit
 Total gain on 1 lot of Nifty (75 units) = Rs.7500 (100*75)

In this case the premium of Rs.140 has an intrinsic value of Rs. 100 per unit and the remaining Rs.40 is
the time value of the option.

An investor exercises the Nifty Option at expiry (It is an European Option)

Suppose the Nifty index moves down to 11500 in the spot market on the expiry day and the investor
decides to reverse his position in the market by exercising the Nifty Put Option as the option now is in
the money.
His gains are as follows:
 Nifty Spot: 11500
 Premium paid: Rs.40
 Exercise Price: 11600
 Gain on exercise: 11600-11500 = 100
 Total Gain: Rs.4500 {(100-40)*75}

In this case the realised amount is only the intrinsic value, which is Rs.100, and there is no time value in
this case.

Case 2 - If the Nifty index stays over the strike price which is 11600, in the spot market then the investor
does not gain anything but on the other hand his loss is limited to the premium paid.
 Nifty Spot: >11700
 Net Loss Rs.3000 (Loss is capped to the extent of Premium Paid) (Rs. 40 Premium paid*Lot Size: 75
units).

Risk Associated with these Strategies

 The risk of mis-pricing or improper valuation and the inability of derivatives to correlate perfectly
with underlying assets, rates and indices.
 Execution Risk: The prices which are seen on the screen need not be the same at which execution
will take place.

PORTFOLIO TURNOVER

The Scheme being an open ended Scheme, it is expected that there would be a number of subscriptions
and redemptions on a daily basis. The fund management team depending on its view and subject to there
being an opportunity, may trade in securities, which will result in increase in portfolio turnover. There
may be an increase in transaction cost such as brokerage paid, if trading is done frequently. However, the
cost would be negligible as compared to the total expenses of the Scheme. Frequent trading may increase
the profits which will offset the increase in costs. The fund manager will endeavor to optimize portfolio
turnover to maximize gains and minimize risks keeping in mind the cost associated with it. However, it is
difficult to estimate with reasonable measure of accuracy, the likely turnover in the portfolio of the
Scheme.

INVESTMENT BY THE AMC IN THE SCHEME

34 Invesco India Contra Fund

As mandated under the prevailing regulatory requirements, the AMC has invested in the Direct Plan -
Growth option of the Scheme and such investment will not be redeemed unless the Scheme is wound up.

In addition to above investments, the AMC may invest in the Scheme during the continuous offer period
subject to the SEBI (MF) Regulations.

As per the existing SEBI (MF) Regulations, the AMC will not charge investment management and
advisory fee on the investment made by it in the Scheme.

F. FUNDAMENTAL ATTRIBUTES

In terms of Regulation 18 (15A) of SEBI (MF) Regulations, following are the fundamental attributes of
the Scheme:

(i) Type of a Scheme

Invesco India Contra Fund is an open ended equity scheme following contrarian investment strategy.

(ii) Investment Objective

To generate capital appreciation by investing predominantly in Equity and Equity Related Instruments
through contrarian investing.

However, there is no assurance or guarantee that the investment objective of the Scheme will be
achieved. The Scheme does not assure or guarantee any returns.

(iii) Investment Pattern

The tentative Equity and Equity Related Instruments and Debt and Money Market Instruments portfolio
break-up with minimum and maximum asset allocation as follows:

Indicative Allocations Risk Profile

Instruments (% of net assets)
Minimum Maximum High/Medium / Low
Equity and Equity Related Instruments 65 100 High
Debt & Money Market Instruments 0 35 Low to Medium

Debt instruments may include securitized debt upto 35% of the net assets of the Scheme. The Scheme
will not invest in foreign securitized debt.

The Scheme may use derivatives for purposes as may be permitted from time to time. The maximum
derivative position will be restricted to 50% of the net assets of the Scheme. The cumulative gross
exposure through equity, debt, derivative positions other permitted securities/assets and such other
securities/assets as may be permitted by SEBI from time to time should not exceed 100% of the net
assets of the scheme.

(iv) Terms of Issue

 Liquidity Provisions
The Scheme being open ended, the Units of the Scheme are not proposed to be listed on any
stock exchange. However, the AMC/Trustee reserves the right to list the Units as and when the
AMC/Trustee considers it necessary in the interest of Unit holders of the Scheme.

The Scheme offers Units for subscription and redemption at Applicable NAV on all Business
Day on an ongoing basis. The Mutual Fund will dispatch the redemption proceeds within 10
Business Days from the acceptance of a valid redemption request. In case the redemption
proceeds are not dispatched within 10 Business Days of the date of receipt of valid redemption
request, the AMC will pay interest @ 15% p.a. or such other rate as may be prescribe from time
to time.

35 Invesco India Contra Fund

 Aggregate Fees and Expenses
Please refer to section IV B. ‘Fees and Expenses’

 Any safety net or guarantee provided

This Scheme do not provide any safety net or guaranteed or assured returns.

In accordance with Regulation 18(15A) of the SEBI (MF) Regulations, the Trustees shall ensure
that no change in the fundamental attributes of the Scheme and the Plan(s) / Option(s) there
under or the trust or fee and expenses payable or any other change which would modify the
Scheme and the Plan(s) / Option(s) there under and affect the interests of Unit holders is carried
out unless:

 A written communication about the proposed change is sent to each Unit holder and an
advertisement is given in one English daily newspaper having nationwide circulation as
well as in a newspaper published in the language of the region where the Head Office of
the Mutual Fund is situated; and
 The Unit holders are given an option for a period of 30 days to exit at the prevailing Net
Asset Value without any exit load.

SEBI vide its Circular dated March 4, 2021 has mandated that the comments from SEBI shall be taken
before bringing change in the fundamental attributes of any scheme.

Accordingly, after the approval of Trustee Board for changes in fundamental attributes of the Scheme,
the proposal will be filed with SEBI seeking its comments. If SEBI does not raise any queries or suggest
any modification to the proposal within 21 working days from the date of filing, then the proposal shall
be deemed to have been take on record by SEBI.

G. BENCHMARK INDEX

Benchmark Justification
Index
S&P BSE 500 The performance of the Scheme will be compared with that of benchmark. On the
TRI basis of investment objective / asset allocation pattern of the Scheme and composition
of the index, S&P BSE 500 has been currently selected as the benchmark of the
Scheme.

Benchmark returns will be calculated using Total Return variant of benchmark.

About S&P BSE 500:

The S&P BSE 500 index is designed to be a broad representation of the Indian market.
Consisting of the top 500 companies listed at BSE Ltd., the index covers all major
industries in the Indian economy.

It is calculated using float-adjusted, market cap weighted methodology. Regarded as a

proxy for the Indian economy, the S&P BSE 500 captures more than 95% of the
market cap of the listed universe at BSE Ltd.

The Trustee / AMC reserve the right to change the benchmark for evaluation of performance of the
Scheme from time to time in conformity with the investment objective and appropriateness of the
benchmark subject to the SEBI Regulations and other prevailing guidelines.

36 Invesco India Contra Fund

H. FUND MANAGER FOR THE SCHEME

Name Age Educational Total Tenure Assignments held during the

(Yrs) Qualifications number of for which last 10 years
years of Fund
experience Manager
has been
managing
the
Scheme
Mr. Taher 51 BE More than 4 years & January 10, 2017 - till date
Badshah years (Electronics), 27 years of 8 months Invesco Asset Management
MMS experience in (India) Pvt. Ltd.
(Finance), Financial
Mumbai Services June 22, 2010 - December 9,
University Industry 2016
Senior Vice President and Head
of Equities - Motilal Oswal Asset
Management Company Ltd.

May 2007 - May 2010

Fund Manager - Kotak
Investment Advisors Ltd.
Mr. Dhimant 39 B. Com., More than 1 year & 4 Apr 6, 2011 - till date
Kothari years A.C.A. 15 years of months Invesco Asset Management
experience in (India) Pvt. Ltd.
industry and
equity Mar 9, 2009 - Apr 5, 2011
research Credit Analysis & Research Ltd.

Other schemes managed by the Fund Manager(s):

Name of the Scheme(s) Fund Manager*

Invesco India Dynamic Equity Fund Mr. Pranav Gokhale and Mr. Taher Badshah
Invesco India Smallcap Fund Mr. Taher Badshah and Mr. Pranav Gokhale
Invesco India Growth Opportunities Fund
Invesco India Financial Services Fund Mr. Dhimant Kothari and Mr. Hiten Jain
Invesco India PSU Equity Fund Mr. Nitin Gosar and Mr. Dhimant Kothari
Invesco India Tax Plan Mr. Amit Nigam and Mr. Dhimant Kothari
Mr. Taher Badshah, Mr. Pranav Gokhale (for equity
Invesco India Equity & Bond Fund investments) and Mr. Krishna Cheemalapati (for debt
investments)
Mr. Amit Nigam and Mr. Dhimant Kothari (for equity
Invesco India Equity Savings Fund investments) and Mr. Krishna Cheemalapati (for debt
investments)
Invesco India Focused 20 Equity Fund Mr. Taher Badshah and Nitin Gosar
Invesco India ESG Equity Fund Mr. Taher Badshah and Mr. Amit Nigam
* excluding overseas investments, if any.

I. INVESTMENT RESTRICTIONS

Pursuant to Regulations, specifically the seventh schedule and amendments thereto, the following
investment restrictions are currently applicable to the Scheme:

1 The Scheme shall not invest more than 10% of its NAV in the listed or to be listed equity shares
or equity related instruments of any company and in listed securities/units of Venture Capital
Funds.

37 Invesco India Contra Fund

2 The Mutual Fund under all its Scheme shall not own more than 10% of any company’s paid up
capital carrying voting rights.

Further, Sponsor, associate or group companies of Sponsor including Asset Management

Company, through schemes of the Mutual Fund or otherwise, individually or collectively,
directly or indirectly, shall not own 10% or more of the shareholding or voting rights in the asset
management company or trustee company of any other mutual fund.

3 The Scheme may invest in other schemes of the Mutual Fund or any other mutual fund without
charging any fees, provided the aggregate inter-scheme investment made by all the schemes
under the same management or in schemes under the management of any other asset
management company shall not exceed 5% of the Net Asset Value of the Fund.

4 The Scheme shall not make any investment in:

a) any unlisted security of an associate or group company of the sponsor; or
b) any security issued by way of private placement by an associate or group company of
the sponsor; or
c) the listed securities of group companies of the sponsor which is in excess of 25% of the
net assets.

5 The Mutual Fund shall get the securities purchased transferred in the name of the Fund on
account of the concerned Scheme, wherever investments are intended to be of a long-term
nature.

6 Transfer of investments from one scheme to another scheme in the same Mutual Fund is
permitted* provided:
a) such transfers are done at the prevailing market price^ for quoted instruments on spot
basis (spot basis shall have the same meaning as specified by a Stock Exchange for
spot transactions); and
b) the securities so transferred shall be in conformity with the investment objective of the
scheme to which such transfer has been made.

^SEBI circular no. SEBI/HO/IMD/DF4/CIR/P/2019/102 dated September 24, 2019 has

prescribed the methodology w.r.t. price to be considered for inter-scheme transfers of money
market or debt securities.

*The Scheme shall comply with the guidelines provided for inter-scheme transfers as specified in
SEBI circular no. SEBI/HO/IMD/DF4/CIR/P/2020/202 dated October 8, 2020.

7 The Mutual Fund shall buy and sell securities on the basis of deliveries and shall in all cases of
purchases, take delivery of relevant securities and in all cases of sale, deliver the securities:

Provided that the Mutual Fund may engage in short selling of securities in accordance with the
framework relating to short selling and securities lending and borrowing specified by SEBI.

Provided further that the Mutual Fund may enter into derivatives transactions in a recognized
stock exchange, subject to the framework specified by SEBI.

Provided further that sale of government security already contracted for purchase shall be
permitted in accordance with the guidelines issued by the Reserve Bank of India in this regard.

8 The Scheme shall not make any investment in any fund of funds scheme.

9 The Scheme shall not invest more than 10% of its NAV in debt instruments comprising money
market instruments and non-money market instruments issued by a single issuer which are rated
not below investment grade by a credit rating agency authorised to carry out such activity under
Securities and Exchange Board of India Act, 1992. Such investment limit may be extended to
12% of the NAV of the Scheme with the prior approval of the Board of Trustees and the Board
of Directors of Asset Management Company.

38 Invesco India Contra Fund

 Provided that such limit shall not be applicable for investments in Government Securities,
treasury bills and Triparty-repo on Government Securities or treasury bills.

Provided further that investment within such limit can be made in mortgaged backed securitised
debt which are rated not below investment grade by a credit rating agency registered with the
SEBI.

10 The Scheme shall not invest in Unlisted Debt instruments including commercial papers, except
Government Securities, other money market instruments and derivative products such as
Interest Rate Swaps (IRS), Interest Rate Futures (IRF), etc. which are used by the Scheme for
hedging.

Further the Scheme may invest in unlisted non-convertible debentures up to a maximum of 10%
of the debt portfolio of the Scheme subject to such conditions and within such timelines as may
be specified by SEBI from time to time.

11 The Scheme may invest upto 5% of its net assets in unrated debt instruments subject to
conditions that such investments can be made only in such instruments, including bills re-
discounting, usance bills, etc., that are generally not rated and for which separate investment
norms or limits are not provided in MF Regulations & various circulars issued thereunder.
Investments shall be made with the prior approval of the Board of AMC & Trustee.

12 Restrictions on Investment in debt instruments having Structured Obligations / Credit

Enhancements:

I. The investment of the Scheme in the following instruments shall not exceed 10% of its
debt portfolio and the group exposure in such instruments shall not exceed 5% of its debt
portfolio:
a) Unsupported rating of debt instruments (i.e. without factoring-in credit
enhancements) is below investment grade and
b) Supported rating of debt instruments (i.e. after factoring-in credit enhancement) is
above investment grade.

For the purpose of this provision, ‘Group’ shall have the same meaning as defined in paragraph
B(3)(b) of SEBI Circular no. SEBI/ HO/ IMD/ DF2/ CIR/P/ 2016/ 35 dated February 15, 2016
or such other meaning as may be prescribed by SEBI from time to time.

II. Investment limits as mentioned in point no. I shall not be applicable on investments in
securitized debt instruments, as defined in SEBI (Public Offer and Listing of Securitized
Debt Instruments) Regulations 2008.
III. Investment in debt instruments, having credit enhancements backed by equity shares
directly or indirectly, shall have a minimum cover of 4 times considering the market value
of such shares.

AMC shall ensure that the investment in debt instruments having credit enhancements are
sufficiently covered to address the market volatility and reduce the inefficiencies of invoking of
the pledge or cover, whenever required, without impacting the interest of the investors. In case
of fall in the value of the cover below the specified limit, AMC shall initiate necessary steps to
ensure protection of the interest of the investors.

13 The Scheme will comply with the following restrictions for trading in exchange traded
derivatives, as specified by SEBI vide its circular DNPD/Cir-29/2005 dated September 14, 2005
read along with Circular SEBI/DNPD/Cir-31/2006 dated September 22, 2006 and Circular
SEBI/HO/MRD/DP/CIR/P/2016/143 dated December 27, 2016 as may be amended from time
to time:

i. Position limit for the Mutual Fund in equity index options contracts
a. The Mutual Fund position limit in all index options contracts on a particular underlying
index shall be Rs. 500 crores or 15% of the total open interest of the market in index
options, whichever is higher, per stock exchange.

39 Invesco India Contra Fund

 b. This limit would be applicable on open positions in all options contracts on a particular
underlying index.

ii. Position limit for the Mutual Fund in equity index futures contracts
a. The Mutual Fund position limit in all index futures contracts on a particular underlying
index shall be Rs.500 crores or 15% of the total open interest of the market in index futures,
whichever is higher, per stock exchange.
b. This limit would be applicable on open positions in all futures contracts on a particular
underlying index.

iii. Additional position limit for hedging

In addition to the position limits at point (i) and (ii) above, the Mutual Fund may take exposure
in equity index derivatives subject to the following limits:
a. Short positions in index derivatives (short futures, short calls and long puts) shall not
exceed (in notional value) the Mutual Fund’s holding of stocks.
b. Long positions in index derivatives (long futures, long calls and short puts) shall not exceed
(in notional value) the Mutual Fund’s holding of cash, government securities, Treasury
Bills and similar instruments.

iv. Position limit for Mutual Fund for stock based derivative contracts
The Mutual Fund position limit in a derivative contract on a particular underlying stock, i.e.
stock option contracts and stock futures contracts, is defined in the following manner: -

The combined futures and options position limit shall be 20% of the applicable Market Wide
Position Limit (MWPL).

v. Position limit for each scheme of a Mutual Fund

The scheme-wise position limit / disclosure requirements shall be:
a. For stock option and stock futures contracts, the gross open position across all derivative
contracts on a particular underlying stock of a scheme of a Mutual Fund shall not exceed
the higher of:
1% of the free float market capitalization (in terms of number of shares)
or
5% of the open interest in the derivative contract on a particular underlying stock (in
terms of number of contracts).
b. This position limits shall be applicable on the combined position in all derivative contracts
on an underlying stock at a Stock Exchange.
c. For index based contracts, Mutual Funds shall disclose the total open interest held by its
scheme or all schemes put together in a particular underlying index, if such open interest
equals to or exceeds 15% of the open interest of all derivative contracts on that underlying
index.

In terms of SEBI circular Cir/IMD/DF/11/2010 dated August 18, 2010, the following additional
restrictions shall be applicable to the Scheme w.r.t investment in derivatives:

i. The cumulative gross exposure through equity, debt, derivative positions other permitted
securities/assets and such other securities/assets as may be permitted by SEBI from time to time
should not exceed 100% of the net assets of the scheme.
ii. The Scheme shall not write options or purchase instruments with embedded written options.
iii. The total exposure related to option premium paid must not exceed 20% of the net assets of the
scheme.
iv. Cash or cash equivalents with residual maturity of less than 91 days may be treated as not
creating any exposure.
v. Exposure due to hedging positions may not be included in the above mentioned limits subject to
the following:

a) Hedging positions are the derivative positions that reduce possible losses on an existing
position in securities and till the existing position remains.
b) Hedging positions cannot be taken for existing derivative positions. Exposure due to such
positions shall have to be added and treated under limits mentioned in Point (i).

40 Invesco India Contra Fund

 c) Any derivative instrument used to hedge has the same underlying security as the existing
position being hedged.
d) The quantity of underlying associated with the derivative position taken for hedging
purposes does not exceed the quantity of the existing position against which hedge has been
taken.

vi. The Scheme may enter into plain vanilla interest rate swaps for hedging purposes. The counter
party in such transactions has to be an entity recognized as a market maker by RBI. Further, the
value of the notional principal in such cases must not exceed the value of respective existing
assets being hedged by the Scheme. Exposure to a single counterparty in such transactions
should not exceed 10% of the net assets of the Scheme.

vii. Exposure due to derivative positions taken for hedging purposes in excess of the underlying
position against which the hedging position has been taken, shall be treated under the limits
mentioned in point (i).

viii. Definition of Exposure in case of Derivative Positions:

Each position taken in derivatives shall have an associated exposure as defined under. Exposure
is the maximum possible loss that may occur on a position. However, certain derivative
positions may theoretically have unlimited possible loss. Exposure in derivative positions shall
be computed as follows:

Position Exposure
Long Future Futures Price * Lot Size * Number of Contracts
Short Future Futures Price * Lot Size * Number of Contracts
Option bought Option Premium Paid * Lot Size * Number of Contracts.

14 Pending deployment of the funds of the Scheme in securities in terms of the investment
objective of the Scheme, the AMC may park the funds of the Scheme in short term deposits of
scheduled commercial banks, subject to the guidelines issued by SEBI vide its circular dated
April 16, 2007 as may be amended from time to time:

The Scheme will comply with the following guidelines/ restrictions for parking of funds in short
term deposits at all points of time:
i. “Short Term” for such parking of funds by the Scheme shall be treated as a period not
exceeding 91 days. Such short-term deposits shall be held in the name of the Scheme.
ii. The Scheme shall not park more than 15% of the net assets in short term deposit(s) of
all the scheduled commercial banks put together. However, such limit may be raised to
20% with prior approval of the Trustees.
iii. Parking of funds in short term deposits of associate and sponsor scheduled commercial
banks together shall not exceed 20% of total deployment by the Mutual Fund in short
term deposits.
iv. The Scheme shall not park more than 10% of the net assets in short term deposit(s),
with any one scheduled commercial bank including its subsidiaries.
v. The Scheme shall not park funds in short term deposit of a bank which has invested in
that Scheme. Further, the bank in which a scheme has short term deposit will not be
allowed to invest in the Scheme till the Scheme has short term deposit with such bank.
vi. The AMC shall not charge any investment management and advisory fees for funds
parked in short term deposits of scheduled commercial banks.

However, the above provisions will not apply to term deposits placed as margins for trading in
cash and derivatives market.

15 The Scheme shall not advance any loans.

16 The Fund shall not borrow except to meet temporary liquidity needs of the Fund for the purpose
of repurchase/redemption of Units or payment of interest and/or IDCW to the Unit holders.

Provided that the Fund shall not borrow more than 20% of the net assets of the individual
Scheme and the duration of the borrowing shall not exceed a period of 6 month.

41 Invesco India Contra Fund

17 Restrictions on Investment in debt instruments in debt instruments with special features viz.
Additional Tier I bonds and Tier 2 bonds issued under Basel III framework:
i. Mutual Fund shall not own more than 10% of such instruments issued by a single
issuer across all its schemes.
ii. The investment of the Scheme shall not exceed 10% of the debt portfolio of the
schemes and not more than 5% of the debt portfolio will be deployed in such debt
instruments issued by any single intermediary. However, such investments limit shall
be within the overall limit for debt instruments issued by a single issuer.
The Scheme will comply with the other Regulations applicable to the investments of Mutual Funds from
time to time.

All the investment restrictions will be applicable at the time of making investments.

The AMC/Trustee may alter these above stated restrictions from time to time to the extent the SEBI
Regulations change, so as to permit the Scheme to make its investments in the full spectrum of permitted
investments for mutual funds to achieve its respective investment objective.

42 Invesco India Contra Fund

J. HOW HAS THE SCHEME PERFORMED?

The performance as on September 30, 2021 is as follows:

Disclosures as per SEBI circular dated March 18, 2016 are as follows:

 Scheme’s Portfolio Holding as on September 30, 2021:

 Website link to obtain scheme’s latest monthly portfolio holding:

https://www.invescomutualfund.com/literature-and-form?tab=Complete

 Scheme’s Portfolio Turnover ratio: 0.64 times

(For the year ended September 30, 2021)

 Illustration of impact of expense ratio on Scheme’s returns is as follows:

Investment Value 10,00,000.00

Annualized Gross Return 10.00
Annual Recurring Expenses 1.00
Gross Appreciation for the day @ 10% 273.97

43 Invesco India Contra Fund

 Expense amount for the day @ 1% 27.40
Net Appreciation for the day 246.57
Return (Net of Expenses) for the day in % (Annualized) 9.00

 Aggregate investment in the Scheme by AMC Directors, Fund Manager(s) of the

Scheme and Other key managerial personnel as on September 30, 2021:

Sr. # Name of Category Aggregate Investments* (in Rs.)

1 AMC Directors Nil
2 Fund Manager(s) of the Scheme Nil
3 Other key managerial personnel 15,637,767.21

*Aggregate investments are given at cost value of investments. In case of units held
in demat mode, market value is considered.

44 Invesco India Contra Fund

 III. UNITS AND OFFER

A. NEW FUND OFFER (NFO)

The New Fund Offer Period of the Scheme opened on February 15, 2007 and closed on March 15, 2007
and the Units under the Scheme were allotted on April 11, 2007. As the Scheme is already launched, this
section is not applicable. Relevant details earlier covered under the section ‘A. New Fund Offer’ are
covered under the section B. Ongoing Offer Details.

B. ONGOING OFFER DETAILS

Ongoing Offer Period The Scheme reopened for subscription and redemption from April 12, 2007
This is the date from which the
Scheme reopened for
subscriptions/ redemptions after The Units can be purchased and redeemed on all Business Days at Applicable
the closure of the NFO period. NAV, subject to applicable load, if any.
Plans /Options offered The Scheme offers a separate plan for investments directly with the Fund (i.e.
application not routed through Distributor).

Thus, the Scheme offers two plans as follows:

 Invesco India Contra Fund

 Invesco India Contra Fund - Direct Plan

Each of the above Plans under the Scheme offer following options:

 Growth option
 Income Distribution cum Capital Withdrawal option
 Payout of Income Distribution cum Capital Withdrawal option (‘IDCW
Payout’)
 Reinvestment of Income Distribution cum Capital Withdrawal option
(‘IDCW Reinvestment’)

Direct Plan will have a lower expense ratio excluding distribution expenses,
commission for distribution of Units etc. Direct Plan is only for investors who
purchase /subscribe Units directly with the Fund (i.e. application not routed
through Distributor). Investments under Direct Plan can be made through various
modes offered by the Fund for investing directly with the Fund (except Stock
Exchange Platform(s) and all other Platform(s) where investors’ applications for
subscription of units are routed through Distributors). Further Registered
Investment Advisors (RIAs) can also purchase units of Direct Plan on behalf of
their clients through NMF-II platform of National Stock Exchange of India Ltd.
and/or BSE StAR MF System of BSE Ltd.

The portfolio of Direct Plan will form part of portfolio of the Scheme and there
will be no separate portfolio for Direct Plan. Further, both the options i.e. Growth
and IDCW will have common portfolio under the Scheme.

Growth option
IDCW will not be declared under this option. The income attributable to Units
under this option will continue to remain invested in the Scheme and will be
reflected in the Net Asset Value of Units under this option.

Income Distribution cum Capital Withdrawal option

Under this option, IDCW will be declared (subject to deduction of tax at source, if
any) at the discretion of the Trustees, subject to availability of distributable
surplus calculated in accordance with SEBI (MF) Regulations. The amounts can
be distributed out of investors capital (Equalization Reserve) which is part of sale
price that represents realized gains. On payment of IDCW, the NAV of the Units
under IDCW option will fall to the extent of the IDCW payout and applicable

45 Invesco India Contra Fund

statutory levies, if any.

It must be distinctly understood that the actual declaration of IDCW and

frequency thereof is at the sole discretion of Board of Trustee. There is no
assurance or guarantee to the Unit holders as to the rate of IDCW nor that the
IDCW will be paid regularly.

Payout of Income Distribution cum Capital Withdrawal option (‘IDCW

Payout’)

Under this facility, IDCW declared, if any, will be paid (net of TDS, and
applicable statutory levy, if any) to those Unit holders, whose names appear in the
register of Unit holders on the notified record date.

If IDCW payable under IDCW Payout option is equal to or less than Rs.
100/-, then the IDCW would be compulsorily reinvested in the option of the
Scheme.

Reinvestment of Income Distribution cum Capital Withdrawal option

(‘IDCW Reinvestment’)

Under this facility, the IDCW due and payable to the Unit holders will be
compulsorily and without any further act by the Unit holder, reinvested in the
IDCW option at a price based on the prevailing ex-IDCW Net Asset Value per
Unit on the record date. The amount of IDCW re-invested will be net of tax
deducted at source, wherever applicable, statutory levies and stamp duty. The
IDCW so reinvested shall constitute a constructive payment of IDCW to the Unit
holders and a constructive receipt of the same amount from each Unit holder for
reinvestment in Units.

On reinvestment of IDCW, the number of Units to the credit of Unit holder will
increase to the extent of the IDCW reinvested divided by the Applicable NAV.
There shall, however, be no Entry Load and Exit Load on the IDCW so
reinvested.

Default Plan / Option

Investors subscribing Units under Direct Plan of a Scheme should indicate “Direct
Plan” against the scheme name in the application form. Investors should also
mention “Direct” in the ARN column of the application form. The table showing
various scenarios for treatment of application under “Direct/Existing” Plan is as
follows:
Broker Code
Plan mentioned Default Plan to be
Scenario mentioned by the
by the investor captured
investor
1 Not mentioned Not mentioned Direct
2 Not mentioned Direct Direct
3 Not mentioned Existing Direct
4 Mentioned Direct Direct
5 Direct Not Mentioned Direct
6 Direct Existing Direct
7 Mentioned Existing Existing
8 Mentioned Not Mentioned Existing

In cases of wrong/ invalid/ incomplete ARN code mentioned on the application

form, the application will be processed under Existing Plan. The AMC shall
contact and obtain the correct ARN code within 30 calendar days of the receipt of
application form from the investor/ distributor. In case, the correct code is not
received within 30 calendar days, the AMC shall reprocess the transaction under
Direct Plan from the date of application without any exit load, if applicable.

46 Invesco India Contra Fund

 The investors should indicate option for which subscription is made by indicating
the choice in the appropriate box provided for this purpose in the application form.
In case of valid application received without any choice of option, the following
default option will be considered:

Name of the Option^ Default

Growth / IDCW Growth
Payout of Income Distribution cum Reinvestment of Income
Capital Withdrawal option / Distribution cum Capital
Reinvestment of Income Distribution Withdrawal option
cum Capital Withdrawal option

^ The above details of Default option are also applicable to Direct Plan offered
under the Scheme.
IDCW Policy Under the IDCW option, the Trustees may declare the IDCW subject to
availability of distributable surplus calculated in accordance with SEBI
Regulations. The amounts can be distributed out of investors capital (Equalization
Reserve) which is part of sale price that represents realized gains. The actual
declaration of IDCW and frequency will, inter-alia, depend on availability of
distributable surplus calculated in accordance with SEBI (MF) Regulations and
the decisions of the Trustees shall be final in this regard. There is no assurance or
guarantee to the Unit holders as to the rate of IDCW nor that IDCW will be paid
regularly.

IDCW Distribution Procedure

In accordance with SEBI Circular no. SEBI/ IMD/ Cir No. 1/ 64057/06 dated
April 4, 2006, the procedure for IDCW distribution would be as under:
1. Quantum of IDCW and the record date will be fixed by the Trustee in their
meeting. IDCW so decided shall be paid, subject to availability of
distributable surplus.
2. Within one calendar day of decision by the Trustee, the AMC shall issue
notice to the public communicating the decision about the IDCW including
the record date. The record date shall be 5 calendar days from the date of
publication in at least one English newspaper or in a newspaper published in
the language of the region where the Head Office of the mutual fund is
situated, whichever is issued earlier.
3. Record date shall be the date, which will be considered for the purpose of
determining the eligibility of investors whose names appear on the register of
Unit holders for receiving IDCW.
4. The notice will, in font size 10, bold, categorically state that pursuant to
payment of IDCW, the NAV of the Scheme would fall to the extent of payout
and statutory levy (if applicable).
5. The NAV will be adjusted to the extent of IDCW distribution and statutory
levy, if any, at the close of business hours on record date.
6. Before the issue of such notice, no communication indicating the probable
date of IDCW declaration in any manner whatsoever will be issued by
Mutual Fund.
Who can invest The following persons are eligible and may apply for subscription to the Units of
the Scheme (subject to, wherever relevant, purchase of units of mutual funds
This is an indicative list and being permitted under relevant statutory regulations and their respective
you are requested to consult constitutions):
your financial advisor to
ascertain whether the scheme 1. Resident adult individuals either singly or jointly (not exceeding three) or on
is suitable to your risk profile. an Anyone or Survivor basis;
2. Hindu Undivided Family (HUF) through Karta;
3. Minor through parent / legal guardian (minor will be first and sole holder);
4. Association of Persons (AOP) or Body of Individuals (BOI);
5. Partnership Firms in the name of any one of the partner;

47 Invesco India Contra Fund

 6. Proprietorship in the name of the sole proprietor;
7. Companies, Bodies Corporate, Public Sector Undertakings (PSUs.), and
societies registered under the Societies Registration Act, 1860;
8. Banks (including Co-operative Banks and Regional Rural Banks) and
Financial Institutions;
9. Schemes of other mutual funds registered with SEBI;
10. Religious and Charitable Trusts, Wakfs or endowments of private trusts
(subject to receipt of necessary approvals as required) and Private trusts
authorised to invest in mutual fund schemes under their trust deeds;
11. Non-Resident Indians (NRIs) / Persons of Indian origin (PIOs) residing
abroad on repatriation basis or on non-repatriation basis (NRIs or PIOs who
are residents of United States of America and Canada cannot apply);
12. Foreign Portfolio Investor registered with SEBI;
13. Army, Air Force, Navy and other para-military units and bodies created by
such institutions;
14. Scientific and Industrial Research Organisations;
15. Multilateral Funding Agencies / Bodies Corporate incorporated outside India
with the permission of Government of India / Reserve Bank of India;
16. Provident/ Pension/ Gratuity Fund to the extent they are permitted;
17. Other schemes of Invesco Mutual Fund subject to the conditions and limits
prescribed by SEBI Regulations;
18. Trustee, AMC or Sponsor or their associates; and
19. Such other individuals / institutions / body corporate etc. as may be decided
by the Mutual Fund from time to time, so long as wherever applicable they
are in conformity with SEBI Regulations.

Note:
1) Minor Unit holder on becoming major shall submit application form along
with prescribed documents to the AMC/Registrar to change the status from Minor
to Major. On the day the minor attains the age of majority, the folio of minor shall
be frozen for operation by the guardian and any transactions (financial/ non-
financial including fresh Systematic Investment Plan (SIP)), Systematic Transfer
Plan (STP), Systematic Withdrawal Plan (SWP) registration after the date of
minor attaining majority) will not be permitted until the documents to change the
status are received by the AMC/RTA. For list of documents and procedure for
change in status from minor to major, please refer SAI or website of the Fund i.e.
www.invescomutualfund.com. The AMC/RTA will execute standing instructions
like SIP, STP, SWP etc. in a folio of minor only upto the date of minor attaining
majority though the instruction may be for the period beyond that date.

2) Prospective investors are advised to satisfy themselves that they are not
prohibited by any law governing such entity and any Indian law from investing in
the Scheme and are authorized to purchase units of mutual funds as per their
respective constitutions, charter documents, corporate / other authorizations and
relevant statutory provisions.

Who cannot invest?

1. Pursuant to RBI A.P. (DIR Series) Circular No. 14 dated September 16,
2003, Overseas Corporate Bodies (OCBs) cannot invest in Mutual Funds.
2. United States Person (U.S. Person), corporations and other entities organized
under the applicable laws of the United States of America and Residents of
Canada as defined under the applicable laws of Canada.
3. Persons residing in the Financial Action Task Force (FATF) Non-Compliant
Countries and Territories (NCCTs).
4. Such other persons as may be specified by AMC from time to time.

The Fund reserves the right to include / exclude new / existing categories of
investors to invest in the Scheme from time to time, subject to SEBI Regulations
and other prevailing statutory regulations, if any.
How to Apply Please refer to the SAI and Application form for the instructions.

48 Invesco India Contra Fund

 Cash Investments
Currently, the option to invest in the Scheme through payment mode as Cash is
not available.

The Trustee reserves the right to change/modify above provisions at a later date.
Listing The Scheme being open ended Scheme under which the Units are available for
subscription and redemption (subject to completion of lock in period, if any) on an
ongoing basis on all the Business Days, the units of the Scheme are not proposed
to be listed on any stock exchange.

However, the AMC/Trustee reserves the right to list the Units of the Scheme as
and when the AMC/Trustee considers it necessary in the interest of Unit holders
of the Scheme.
Ongoing price for subscription The Purchase Price of Units is the price at which an investor can subscribe
(purchase) / switch-in (from /purchase Units of the Scheme. During the continuous offer of the Scheme, the
other schemes/plans of the Units will be available at the Applicable NAV.
mutual fund) by investors.
Pursuant to SEBI Circular No. SEBI/IMD/CIR No. 4/168230/09 dated June 30,
This is the price you need to 2009, there is no entry load for purchase of Units of the Scheme. Accordingly,
pay for purchase/switch-in. Purchase Price will be equal to Applicable NAV.

Example: The applicable NAV of the Scheme is Rs. 11.00 p.u. Since Entry load
is not applicable, the sale / subscription price will be calculated as follows:

Sale / Subscription Price = Applicable NAV*(1+ Entry Load)

= Rs. 11*(1+0)

= Rs. 11.00*1

= Rs.11.00

The investors should also note that stamp duty at the applicable rate will be levied
on applicable transactions i.e. purchase, switch-in, IDCW reinvestment,
instalment of Systematic Investment Plan, Systematic Transfer Plan.
Accordingly, pursuant to levy of stamp duty, the number of units allotted will be
lower to that extent. For more details & impact of stamp duty on number of units
allotted, please refer sub-section IV F. Stamp Duty.
Ongoing price for redemption Ongoing price for redemption /switch out (to other schemes/plans of the Mutual
(sale) / switch outs (to other Fund) is price which a Unit holder will receive for redemption/switch-outs.
schemes/plans of the Mutual
Fund) by investors. During the continuous offer of the Scheme, the Unit holder can redeem the units
at applicable NAV, subject to payment of Exit Load, if any. It will be calculated
This is the price you will as follows:
receive for redemptions/switch
outs. Redemption Price = Applicable NAV*(1-Exit Load, if any)

Example 1: The applicable NAV of the Scheme is Rs. 11.00 p.u. If the applicable
Exit Load at the time of investments is 1%, then the repurchase / redemption price
will be calculated as follows:
= Rs. 11.00*(1-0.01)

= Rs.11.00*0.99

= Rs. 10.89

Example 2: The applicable NAV of the Scheme is Rs. 11.00 p.u. If the applicable
Exit Load at the time of investment is Nil, then the repurchase / redemption price
will be calculated as follows:

49 Invesco India Contra Fund

 Repurchase / Redemption Price = Applicable NAV*(1-Exit Load)
= Rs. 11.00*(1-0)

= Rs.11.00*1

= Rs. 11.00

The securities transaction tax levied under the Income-tax Act, 1961 at the
applicable rate on the amount of redemption will be reduced from the amount of
redemption.

Investors/Unit holders should note that the Trustee has right to modify existing
load structure and to introduce Entry/Exit Load or combination of Entry Load/Exit
Load and/or any other Load subject to a maximum limits prescribed under the
SEBI Regulations. Any change in load structure will be effective on a prospective
basis and will not affect the existing Unit holder in any manner.

However, the Mutual Fund will ensure that the Redemption / Repurchase Price
shall not be lower than 95% of the Applicable NAV.
Cut off timing for subscriptions/ For Subscription / purchase/ switch-ins of any amount:
redemptions/ switches
1. In respect of valid application received upto 3.00 p.m. on a Business Day at
This is the time before which the Official Point(s) of Acceptance and funds for the entire amount of
your application (complete in subscription / purchase as per the application / switch-in request are available
all respects) should reach the for utilization by the respective Scheme(s) before the cut off time i.e. funds
official points of acceptance. are credited to the bank account of the respective Scheme(s) before the cut off
time, the closing NAV of the same Business Day shall be applicable

2. In respect of valid application received after 3.00 p.m. on a Business Day at

the Official Point(s) of Acceptance and funds for the entire amount of
subscription / purchase as per the application / switch-in request are available
for utilization by the respective Scheme(s) after the cut off time on the same
day i.e. the funds are credited to the bank account of the respective Scheme(s)
after cut off time on the same day or before the cut-off time of next Business
Day, the closing NAV of next Business Day shall be applicable.

3. Irrespective of the time of receipt of application at the Official Point(s) of

Acceptance, where funds for the entire amount of subscription / purchase as
per the application / switch-in request are available for utilization before the
cut off time of any subsequent Business Day i.e. funds are credited to the
bank account of the respective Scheme(s) before the cut off time of any
subsequent Business Day, the closing NAV of such subsequent Business Day
shall be applicable.

For determining the applicable NAV for allotment of units in respect of purchase /
switch-in to the Schemes, the following shall be ensured:

i. Application / switch-in request is received before the applicable cut-off

time.
ii. Funds for the entire amount of subscription / purchase as per the
application / switch-in request are credited to the bank account of the
respective Scheme(s) before the cut-off time.
iii. 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(s).
iv. In case of switch transactions from one scheme to another scheme, the
allocation shall be in line with the redemption payout.

For redemption / repurchases / switch-outs:

50 Invesco India Contra Fund

 1. In respect of valid application received at the Official Points of Acceptance
upto 3.00 p.m. on a Business Day by the Fund, the closing NAV of the day
on which application is received shall be applicable.

2. In respect of valid application received at the Official Points of Acceptance

after 3.00 p.m. on a Business Day by the Fund, the closing NAV of the next
Business day shall be applicable.

For Switches:
Valid applications for ‘switch-out’ shall be treated as applications for Redemption
and the provisions of Cut-off Time and Applicable NAV mentioned in the SID as
applicable to Redemption shall be applied to the 'switch-out' applications. In case
of ‘switch’ transactions from one scheme to another the allocation shall be in line
with redemption payouts.
Where can the applications for The application forms for subscription/ redemption/switches should be submitted
purchase/redemption switches at / may be sent by mail to any of the Official Points of Acceptance whose names
be submitted? and addresses are mentioned at the end of this document.

For details on updated list of Official Points of Acceptance investors are requested
to call 1800 209 0007 (toll-free) or contact the AMC branches or log on to our
website www.invescomutualfund.com.

The AMC has the right to designate additional centre of Registrar as the Official
Points of Acceptance during the Ongoing Offer Period and change such centres,
as it deems fit.

Investors can also subscribe/ redeem the Units of the Scheme through MFSS
and/or NMF II facility of NSE, BSE StAR MF facility of BSE ICEX and MF
Utilities during ongoing basis.

Note: Currently ICEX does not facilitate purchase / redemption / switch of units
under Direct Plan. As and when ICEX facilitates purchase / redemption / switch of
units under Direct Plan(s), units under Direct Plan(s) of Schemes of the Fund will
also be available through stock exchange platform of ICEX.

In addition to subscribing Units through submission of application in physical,

investor / unit holder can also subscribe to the Units of the Scheme through our
website www.invescomutualfund.com as well as https://mfs.kfintech.com/mfs/, an
electronic platform provided by RTA. The facility to transact in the Scheme is
also available through mobile application of RTA i.e. ‘KFinKart’.
Minimum amount for purchase/ Minimum / Additional Amount for subscription / purchase:
redemption/ switches Rs. 1,000/- per application and in multiples of Re. 1/- thereafter.

The above provisions will not be applicable for investments made in the name of
Designated Employees of the AMC pursuant to SEBI circular vide reference no.
SEBI/HO/IMD/IMD-I/DOF-5/P/CIR/2021/553 dated April 28, 2021 read with
SEBI circular vide reference no. SEBI/HO/IMD/IMD-I/DOF-5/P/CIR/2021/629
dated September 20, 2021 on Alignment of interest of Designed Employees of
Asset Management Companies with the Unitholders of the Mutual Fund Schemes.

For switch-ins (including additional switch-ins):

In case of investors opting to switch into the Scheme from the existing scheme of
Invesco Mutual Fund (subject to completion of Lock-in Period, if any) during the
ongoing period, the minimum amount is Rs. 1,000/- per application and in
multiples of Re. 0.01/- thereafter.

Minimum Amount for redemption / repurchase / switch-outs:

Rs. 1,000/- or 0.001 Unit or account balance whichever is lower.

Note - The provisions relating to Minimum Amount (including Additional

51 Invesco India Contra Fund

 Application Amount) for subscription / purchase will not be applicable for
investments made in the name of Designated Employees of the AMC pursuant to
SEBI circular vide reference no. SEBI/HO/IMD/IMD-I/DOF-5/P/CIR/2021/553
dated April 28, 2021 read with SEBI circular vide reference no.
SEBI/HO/IMD/IMD-I/DOF-5/P/CIR/2021/629 dated September 20, 2021 on
‘Alignment of interest of Designated Employees of Asset Management
Companies with the Unitholders of the Mutual Fund Schemes.’

Minimum balance to be There is no minimum balance requirement.

maintained and consequences
of non maintenance. Investors may note that in case the balance in Unit holder’s account does not
cover the amount of redemption request, the Fund may close the Unit holder’s
account and send the entire such balance to the Unit holders.
Special Products available Dematerialization of Units:

The Scheme offers option to subscribe Units in electronic (demat) mode.

Accordingly, the Units of the Scheme will be available in dematerialized
(electronic) form. The applicant intending to hold Units in dematerialized form
will be required to have a beneficiary account with a Depository Participant (DP)
of NSDL/CDSL and will be required to mention in the application form DP
Name, DP ID and Beneficiary Account Number with the DP at the time of
subscribing the Units of the Scheme.

In case Unit holders do not provide their demat account details or the demat
details provided in the application form are incomplete / incorrect or do not match
with the details with the Depository Records, the Units will be allotted in account
statement mode provided the application is otherwise complete in all respect.
Further, if the Units cannot be allotted in demat mode due to reason that KYC
details including IPV is not updated with DP, the Units will be allotted in non-
demat mode subject to compliance with necessary KYC provisions and the
application is otherwise complete in all respect.

Rematerialization of Units will be in accordance with the provisions of SEBI

(Depositories & Participants) Regulations, 1996 as may be amended from time to
time.

The process for rematerialisation is as follows:

• The investor will submit a remat request to his/her DP for rematerialisation of
holdings in his/her account.
• If there is sufficient balance in the investor's account, the DP will generate a
Rematerialisation Request Number (RRN) and the same is entered in the
space provided for the purpose in the rematerialisation request form.
• The DP will then dispatch the request form to the AMC/ R&T agent.
• The AMC/ R&T agent accepts the request for rematerialisation, prints and
dispatches the account statement to the investor and sends electronic
confirmation to the DP.
• DP must inform the investor about the changes in the investor account
following the acceptance of the request.
• Further, the Investor will be required to provide additional documents as may
be requested by the AMC from time to time including but not limited to
documents related to Bank Account details to be registered in the folio.

Application via electronic mode:

Subject to the investor fulfilling certain terms and conditions stipulated by the
AMC as under, Invesco Asset Management (India) Pvt. Ltd., Invesco Mutual
Fund or any other agent or representative of the AMC, Mutual Fund, the Registrar
may accept transactions through any electronic mode (“fax/web/ electronic
transactions”) as permitted by SEBI or other regulatory authorities :
a) The acceptance of the fax/web/electronic transactions will be solely at the

52 Invesco India Contra Fund

 risk of the transmitter of the fax/web/ electronic transactions and the
recipient shall not in any way be liable or responsible for any loss,
damage caused to the transmitter directly or indirectly, as a result of the
transmitter sending or purporting to send such transactions.
b) The recipient will also not be liable in the case where the transaction sent
or purported to be sent is not processed on account of the fact that it was
not received by the recipient.
c) The transmitter’s request to the recipient to act on any fax/web/electronic
transmission is for the transmitter’s convenience and the recipient is not
obliged or bound to act on the same.
d) The transmitter acknowledges that fax/web/electronic transactions is not a
secure means of giving instructions/ transactions requests and that the
transmitter is aware of the risks involved including those arising out of
such transmission.
e) The transmitter authorizes the recipient to accept and act on any fax/web/
electronic transmission which the recipient believes in good faith to be
given by the transmitter and the recipient shall be entitled to treat any such
fax/web/ electronic transaction as if the same was given to the recipient
under the transmitter’s original signature.
f) The transmitter agrees that security procedures adopted by the recipient
may include signature verification, telephone call backs which may be
recorded by tape recording device and the transmitter consents to such
recording and agrees to cooperate with the recipient to enable
confirmation of such fax/web/ electronic transaction requests.
g) The transmitter accepts that the fax/web transactions shall not be
considered until time stamped as a valid transaction request in the Scheme
in line with SEBI regulations. For electronic transactions, the time of
transaction would be the time when the request of
purchase/redemption/switch/SIP/STP/other facilities is received on the
servers of AMC/RTA as per terms and conditions of such facilities.
h) In consideration of the recipient from time to time accepting and at its sole
discretion acting on any fax/ web/electronic transaction request received /
purporting to be received from the transmitter, the transmitter agrees to
indemnify and keep indemnified the AMC, Directors, employees, agents,
representatives of the AMC, Invesco Mutual Fund and Trustees from and
against all actions, claims, demands, liabilities, obligations, losses,
damages, costs and expenses of whatever nature (whether actual or
contingent) directly or indirectly suffered or incurred, sustained by or
threatened against the indemnified parties whatsoever arising from or in
connection with or any way relating to the indemnified parties in good
faith accepting and acting on fax/web/ electronic transaction requests
including relying upon such fax/ electronic transaction requests purporting
to come from the Transmitter even though it may not come from the
Transmitter.

The AMC reserves the right to discontinue the facility at any point of time.

Purchase/Redemption/Switch of units through Stock Exchange

Infrastructure:

The investors can purchase and redeem units of the Schemes on Mutual Fund
Services System (‘MFSS’)/ NMF-II of The National Stock Exchange of India
Ltd. (‘NSE’) and on the BSE Stock Exchange Platform for Allotment and
Repurchase of Mutual Funds (BSE StAR MF System) of Bombay Stock
Exchange Ltd. (BSE) and / or ICEX MF.

Further, SEBI Registered Investment Advisors (RIAs) can also purchase and / or
redeem units of schemes of the Fund directly from the Fund/ AMC on behalf of
their clients through NMF-II and/or BSE StAR MF System of BSE Ltd.

53 Invesco India Contra Fund

The following are the salient features of the abovementioned facility:

1. MFSS, BSE StAR MF System and ICEX MF are the electronic platforms
provided by NSE, BSE and ICEX respectively to facilitate
purchase/redemption of units of mutual fund Scheme. The units of eligible
schemes are not listed on NSE & BSE and the same cannot be traded on the
stock exchange like shares.

2. The facility for purchase/redemption of units on MFSS/BSE StAR MF/ICEX

MF will be available on all business days between 9.00 a.m. to 3.00 p.m. or
such other time as may be decided from time to time.

3. Eligible Participants
All the trading and clearing members of NSE, BSE and ICEX MF who are
registered with AMFI as mutual fund advisor and who are registered with
NSE and BSE as Participants will be eligible to offer MFSS,BSE StAR MF
System and ICEX MF respectively (‘Participants’). Depository Participants
of Registered Depositories shall be eligible to process only redemption
request of units held in demat mode. In addition to this, the Participants will
be required to be empanelled with Invesco Asset Management (India) Pvt.
Ltd. and comply with the requirements which may be specified by
SEBI/NSE/BSE/Depositories from time to time.

Further, the mutual fund Distributor registered with Association of Mutual

Funds in India (AMFI) and who has been permitted by the concerned
recognized stock exchange are also eligible to use recognized stock
exchanges' infrastructure to purchases and redeem mutual fund units directly
from the Invesco Asset Management (India) Pvt. Ltd.

All such Participants will be considered as Official Points of Acceptance

(OPA) of Invesco Mutual Fund in accordance with the provisions of SEBI
Circular No. SEBI/IMD/CIR No.11/78450/06 dated October 11, 2006.

4. Eligible Investors
The facility for purchase / redemption of units of the Scheme will be
available to existing as well as new investors. However, switching of units is
not currently permitted. (Please see note below). To purchase /redeem the
units of the scheme through MFSS facility/ ICEX MF, an investor is
required to sign up for MFSS/ICEX MF by providing a letter to Participant
in the format prescribed by NSE/ICEX. For availing BSE StAR MF System,
the investor must comply with operating guidelines issued by BSE.

Note: Facility for Switching of units is available only on BSE StAR MF

System of BSE Ltd. and ICEX.

5. Investors have an option to hold units in either physical mode or

dematerialized (electronic) mode.

6. Cut off timing for purchase /redemption of units

Time stamping as evidenced by confirmation slip given by stock exchange
mechanism will be considered for the purpose of determining applicable
NAV and cut off timing for the transactions. The applicability of NAV will
be subject to guidelines issued by SEBI on uniform cut-off time for
applicability of NAV.

7. The procedure for purchase/redemption of units through MFSS/BSE StAR

MF System / ICEX MF is as follows:

A Physical mode:
Purchase of Units:

54 Invesco India Contra Fund

i) The investor is required to submit purchase application form (subject to
limits prescribed by NSE/BSE/ICEX from time to time) along with all
necessary documents to the Participant.
ii) Investor will be required to transfer the funds to Participant.
iii) The Participant shall verify the application for mandatory details and KYC
compliance.
iv) After completion of the verification, the Participant will enter the purchase
order in the Stock Exchange system and issue system generated order
confirmation slip to the investor. Such confirmation slip will be the proof of
transaction till the investor receives allotment details from Participant.
v) The Participant will provide allotment details to the investor.
vi) The Registrar will send Statement of Account showing number of units
allotted to the investor.

Redemption of Units:
i) The investor is required to submit redemption request (subject to limits
prescribed by NSE/BSE/ICEX from time to time) along with all necessary
documents to Participant.
ii) After completion of verification, the Participant will enter redemption order
in the Stock Exchange system and issue system generated confirmation slip
to the investor. The confirmation slip will be proof of transaction till the
redemption proceeds are received from the Registrar.
iii) The redemption proceeds will be directly sent by the Registrar through
payment channels such as ECS / EFT / NEFT / IMPS / RTGS / Direct
credits / or any other mode allowed by Reserve Bank of India from time to
time or cheque/ demand draft, as may be decided by AMC from time to
time.

B Depository mode:
Purchase of Units:

i) The investor intending to purchase units in Depository mode is required to

have depository account (beneficiary account) with the Depository
Participant of National Securities Depository Ltd. and/or Central
Depository Services (India) Ltd.
ii) The investor is required to place an order for purchase of units (subject to
limits prescribed by NSE/BSE from time to time) with the Participant.
iii) The investor should provide his Depository account details along with PAN
details to the Participant. Where investor intends to hold units in
dematerialised mode, KYC performed by Depository Participant will be
considered compliance with applicable requirements specified in this regard
in terms of SEBI circular ISD/AML/CIR-1/2008 dated December 19, 2008.
iv) The Participant will enter the purchase order in the Stock Exchange system
and issue system generated order confirmation slip to the investor. Such
confirmation slip will be the proof of transaction till the investor receives
allotment details from Participant.
v) The investor will transfer the funds to the Participant.
vi) The Participant will provide allotment details to the investor.
vii) The units purchased shall be received by investor through trading / clearing
member’s pool account. The AMC/ Invesco MF / Registrar will credit units
into trading/ clearing member’s pool account and trading/ clearing member
in turn will credit the units to the respective investor’s demat account.
viii) Crediting the units into trading / clearing member pool account shall
discharge the AMC/ Invesco MF / Registrar of its obligation to allot units to
investor.
ix) Depository Participant will issue demat statement to the investor showing
credit of units.

Redemption of Units:
i) Investors who intend to redeem units through dematerialised mode must

55 Invesco India Contra Fund

 either hold units in depository (electronic) mode or convert his existing
units from statement of account mode to Depository mode prior to placing
of redemption order.
ii) The investor is required to place an order for redemption (subject to limits
prescribed by NSE/BSE from time to time) with the Participant. The
investor should provide their Depository Participant on same day with
Depository Instruction Slip with relevant units to be credited to Clearing
Corporation pool account.
iii) The redemption order will be entered in the system and an order
confirmation slip will be issued to investor. The confirmation slip will be
proof of transaction till the redemption proceeds are received from the
Registrar.
iv) The redemption proceeds will be received by investor through trading /
clearing member’s pool account. The AMC/ Invesco MF / Registrar will
pay redemption proceeds to trading/ clearing member (in case of
redemption) and trading/ clearing member in turn will pay redemption
proceeds to the respective investor.
v) Payment of redemption proceeds to the trading / clearing member by the
AMC/ Invesco MF / Registrar shall discharge the Fund/ AMC of its
obligation of payment of redemption proceeds to investor.

8. An Account Statement:
Please refer section “Account Statement” for dispatch of Account
Statement on an Ongoing Basis.

9. Investors should note that electronic platform provided by NSE/BSE/ICEX

is only to facilitate purchase/redemption of units in the Scheme. In case of
non-commercial transaction like change of bank mandate, nomination etc.
the Unit holder should submit such request to the Investor Services Center
of Invesco Mutual Fund in case of units held in physical mode. Further in
case of units held in dematerialized mode, requests for change of address,
bank details, nomination should be submitted to his Depository Participant.

10. Investors will be required to comply with Know Your Customer (KYC)
norms as prescribed by BSE/NSE/NSDL/CDSL/ICEX and Invesco Mutual
Fund to purchase/redeem units through stock exchange infrastructure.

11. Investors should note that the terms & conditions and operating guidelines
issued by NSE/BSE/ICEX shall be applicable for purchase/ redemption of
units through stock exchange infrastructure.

*The facility to purchase / redeem / switch units of the Schemes of the Fund in
depository (electronic) mode through stock exchange platform of ICEX is
currently not available. As and when the Fund offers facility to purchase, redeem
& switch units in depository mode through exchange platform of ICEX,
intimation to that effect will be uploaded on our website
(www.invescomutualfund.com) by way of an addendum.

Purchase / Redemption of Units of Schemes of Invesco Mutual Fund through

Mutual Fund Distributors using Stock Exchange Infrastructure pursuant to
SEBI circular dated December 9, 2014 read with SEBI circular dated
October 4, 2013:

1. Mutual Fund Distributor registered with Association of Mutual Funds in

India (AMFI) and who has been permitted by the concerned recognised
stock exchange will be eligible to use NMF-II platform of the National
Stock Exchange of India Ltd. (‘NSE’) and / or BSE Stock Exchange
Platform for Allotment and Repurchase of Mutual Funds (‘BSE
StAR MF System’) of BSE Ltd. (‘BSE’) and ICEX MF to purchase and
redeem units of the Scheme directly from the Fund / Invesco Asset

56 Invesco India Contra Fund

 Management (India) Pvt. Ltd. (‘the AMC’) in physical (non-demat)
mode and/or demat (electronic) mode.

2. Mutual Fund Distributors shall not handle Pay-out and Pay-in of funds as
well as units on behalf of investor. Pay-in will be directly received by
recognised Clearing Corporation and Pay-out will be directly made to
investor’s account. In the same manner, units shall be credited and
debited directly from the demat account of investors.

3. In case of payment of redemption proceeds to the Clearing Corporation

by the Fund/ its Registrar, it shall be treated as valid discharge for the
Fund/AMC of its obligation of payment of redemption proceeds to
investor. Similarly, in case of purchase of units, crediting units into
Clearing Corporation’s Pool account shall discharge the Fund/ AMC of
its obligation/ to allot units to investor.

4. The facility of transacting in mutual fund schemes through stock

exchange infrastructure is available subject to such operating guidelines,
terms and conditions as may be prescribed by the respective Stock
Exchanges from time to time.

Currently, ICEX MF does not facilitate purchase / redemption / switch of units

under Direct Plan(s).

The AMC reserves the right to discontinue the facility at any point of time.

Transaction through electronic platform:

In addition to subscribing Units through submission of application in physical,

investor / unit holder can also subscribe to the Units of the Scheme through our
website www.invescomutualfund.com as well as https://mfs.kfintech.com/mfs/, an
electronic platform provided by RTA. The facility to transact in the Scheme will
also be available through mobile application of RTA i.e. ‘KFinKart’.

National Automated Clearing House (“NACH”) facility

Unit holders can make payment through NACH facility for lumpsum purchases as
well as for SIP transactions.

NACH is a centralized system, launched by National Payments Corporation of

India (NPCI) with an aim to consolidate multiple Electronic Clearing System
(ECS) mandates.

A Unique number will be allotted to every mandate registered under NACH called
as Unique Mandate Reference Number (“UMRN”) which can be used for
lumpsum purchases as well as for SIP transactions.

For general terms and conditions and more information, unitholders are requested
to read the NACH Mandate registration form forming part of the Key Information
Memorandum of the Scheme of the Fund available on
“www.invescomutualfund.com.”

The Trustee/ the AMC reserves the right to change/ modify/ discontinue the
NACH facility at a later date.

Systematic Investment Plan (SIP)

This facility enables the investors to save and invest at regular intervals over a
longer period of time. It is convenient way to start investing. Regular investment
not only helps to reduce average unit acquisition cost (this concept is called
‘Rupee Cost Averaging’) but also helps to inculcate discipline when it comes to

57 Invesco India Contra Fund

investing. This facility gives the investor an opportunity to invest regularly
thereby averaging the acquisition cost of units. The requirement of ‘Minimum
Amount of Application’ as applicable for lumpsum investment will not be
applicable in case of SIP.

The features and terms & conditions of SIP are as under:

1. SIP offers monthly and quarterly (April/ July/ Oct/ Jan) frequency. Unit
holder can invest on monthly or quarterly basis on any date of his / her
preference except 29th, 30th, & 31st as SIP Debit Date. In case the day
specified is a non-Business Day or falls during a book closure period, the
transaction will be effected on the next Business Day.
2. In case the frequency is not specified, it will be considered as application
for monthly frequency and will be processed accordingly. In case the SIP
date is not specified or in case of ambiguity, the SIP transaction will be
processed on 15th of month / quarter. In case the end date is not specified,
the Fund would continue the SIP till it receives termination notice from
the investor or till the time all the post dated cheques are utilized.
3. Minimum amount for each SIP installment should be Rs. 500 per month
and in multiples of Re. 1 thereafter for monthly frequency or Rs. 1,500
per quarter and in multiples of Re. 1 thereafter for quarterly frequency.
4. Minimum number of installments should be 12 (including first
installment), where the amount of each SIP installment is Rs. 500 or
more but less than Rs. 1,000 or 6 (including first installment), where the
amount of each SIP installment is Rs. 1,000 or more for monthly
frequency and 4 (including first installment) for quarterly frequency.
5. New investors can enroll for SIP facility by submission of current dated
cheque for the first SIP installment (no postdated cheque will be
accepted) and SIP Registration cum mandate form for NACH/ Direct
debit for remaining installments. Existing investors can avail SIP facility
by submitting only SIP Registration cum mandate form for NACH/
Direct debit. The first cheque and subsequent cheque should not fall in
the same month in case of monthly frequency and in the same quarter in
case of quarterly frequency. Alternatively, an investor can also enroll for
SIP facility by submission of current dated cheque for the first SIP
installment (no post dated cheque will be accepted) and Direct debit /
NACH instruction for remaining installments. Outstation cheques will
not be accepted for SIP transactions. Direct debit / NACH instruction
facility is available in select locations specified in application form. All
the post dated cheques must be of same date and of the same amount. An
investor is eligible to issue only one cheque per month/quarter in the
same SIP enrollment form. The first installment will be processed at
Applicable NAV of the day on which the funds are available for
utilisation and based on time stamping. The second installment will be
processed latest for the available SIP date indicated by the investor, but
only after the expiry of 30 (thirty) calendar days from the date of first
installment.
6. Cheque(s) should be drawn in the name of the Scheme or its abbreviation
and crossed “A/c Payee” e.g. “Invesco India Contra Fund” or “IICF”.
Unit holder should write SIP enrollment Form or folio number on the
reverse of cheque accompanying SIP enrollment form.
7. The load structure prevailing at time of submission of SIP application
(whether for fresh enrollment or extension) will be applicable for all the
SIP installments specified in such application. It is clarified that no entry
load will be charged on SIP irrespective of the date of registration of SIP.
Please refer to ‘Load Structure’ in section ‘Fees and Expenses’ of
Scheme Information Document of respective schemes.
8. Unit holder has a right to discontinue the SIP facility at any time by
sending written request to any Official Points of Acceptance, at least 10
Business Days prior to the next cheque date/NACH/Direct debit. On

58 Invesco India Contra Fund

 receipt of such request, the SIP enrollment will be terminated and
balance post dated cheque(s), if any, will be returned to the Unit holder.
9. In case any cheque submitted by the investor for SIP installment or any
payment instruction for SIP installment is dishonored by the Bankers for
the reason of account of investor is closed, the AMC would discontinue
the SIP immediately and reserves the right to redeem the outstanding
units if total investment is below Rs. 5,000/-.
10. The AMC reserves the right to discontinue the SIP enrolment in case
cheque / payment instruction submitted by Unit holder is not honored by
Banker on 2 (two) consecutive occasions due to reasons “No such
Account / Account closed” or on 3 (three) consecutive rejections for such
insufficiency of funds or as a result of a stop payment instructions issued
by the Unit holder and reserves the right to redeem the outstanding units
if total investment is below Rs. 5,000/-.
11. The facility will be automatically terminated upon receipt of intimation
of death of the Unit holder.
12. SIP in a folio of minor will be executed only upto the date of minor
attaining majority even though the instruction may be for the period
beyond that date.
13. The investors can also subscribe units through SIP in demat (electronic)
mode for the schemes of the fund. However, the units will be allotted
based on applicable NAV of respective schemes and will be credited to
investor’s Demat (Beneficiary) Account on weekly basis on realization
of funds, e.g. units will be credited to investor’s Demat (Beneficiary)
account every Monday (or next business day, if Monday is a non-
business day) for realization status received in last week from Monday to
Friday.

Note - In case of subscription of units through SIP in demat (electronic) mode,

unit holder will not be able to redeem / transfer such units till units are credited to
investor’s Demat (Beneficiary) account.

Top-up facility under SIP

‘Top-Up’ facility will enable investors to increase the amount of SIP installment
at pre-defined frequency by a fixed amount during the tenure of SIP.

The features, terms and conditions for availing ‘Top-Up’ facility are as follows:

1. Top-Up facility offers frequency at half yearly and yearly intervals. In

case the Top-Up frequency is not specified, it will be considered as yearly
frequency.
2. Minimum Top-Up amount would be Rs. 100/- and in multiples of Re. 1/-
thereafter for all the schemes of the Fund that offer SIP facility.
3. In case the investor does not specify Top-Up amount, Rs. 100/- will be
considered as the Top-Up amount and the request will be processed
accordingly.
4. Top-Up facility would be available to all new SIP enrolments. Existing
investors who have enrolled for SIP with maximum amount for debit are
also eligible to avail Top-Up facility and will be required to submit ‘SIP
cum Registration Mandate’ at least 20 calendar days prior to the Top-
Up start month. In case SIP installment after Top-Up exceeds maximum
amount for debit, then the request for Top-Up will be processed upto the
maximum amount for debit. Further, if the investor revises the maximum
amount for debit, then such increase in amount will be effective from the
next Top-Up cycle. However, maximum amount registered for debit
mandate cannot be reduced.
5. Existing investors registered for SIP through Direct Debit facility and
intending to avail Top-Up facility will be required to cancel the existing
SIP and enroll a fresh SIP with Top-Up details.

59 Invesco India Contra Fund

6. It would be mandatory for investor to mention in ‘SIP cum Registration
Mandate’ the period (month - year) upto which he wishes to avail Top-Up
facility.

Pause facility under SIP

Under this facility, investor has an option to stop his SIP temporarily (at a folio
level) for specified number of installments. Instructions for ‘Pause’ can be given
by filling up ‘Invesco Mutual Fund - SIP Pause Form’. SIP would restart
automatically after completion of Pause period specified by investor.

The features, terms and conditions for availing the Pause facility are as follows:

1. Investor can opt for Pause facility only twice during the tenure of a
particular SIP.
2. Pause request should be submitted at least 30 calendar days prior to the
next SIP installment date.
3. Pause request under SIP can be for minimum of 1 installment and for
maximum of 6 installments.
4. If the Pause period is coinciding with the Top-Up facility, the SIP
installment amount post completion of Pause period would be inclusive
of Top-Up amounts falling during that Top-Up cycle e.g. SIP installment
amount prior to Pause period is Rs.5,000/- and Top-Up amount is
Rs.1,000/- and if the Pause period is completed after date for Top-Up,
then the SIP installment amount post completion of Pause period shall be
Rs. 6,000/-.
5. Investor must mention SIP Registration Number (SRN) as stated in the
account statement to avail Pause facility. In case an investor does not
mention the SRN and has more than one live SIP in a single folio in the
same scheme with same SIP date/amount then the first registered SIP
would be paused.
6. The SIP for Pause facility is available online through BSE StAR MF
platform.

Modify facility under SIP

Investor have an option to modify the existing SIP registration. Instructions for
‘Modify’ can be given by filling up ‘Invesco Mutual Fund - SIP Modify Form’.
The terms and conditions for availing the Modify facility are as follows:

1. Under this facility, the investor can modify the scheme / plan / option,
frequency, amount and date under the existing SIP registration. The
facility to modify the amount will be available only to those investors
who have registered SIP using NACH mandated and opted maximum
amount for debit. However, once the investor has availed modification
facility then the maximum amount for debit mandate cannot be reduced.
In case, SIP installment after modification exceeds the maximum amount
for debit, then the request to modify SIP instalment amount will be
rejected.
2. Modification form should be submitted at least 30 days prior to the next
SIP installment date.
3. In case investor has opted for modification in SIP installment amount
and Top-Up facility is already registered under the said SIP, then the
Top-Up amount would be added to the modified SIP amount.
4. Investor must mention the SIP Registration Number (SRN) as stated in
account statement for modifying the SIP details. In case an investor does
not mention the SRN and has more than one live SIP in a single folio in
the same scheme with same SIP date/amount then the first registered SIP
would be modified.
5. In case there is modification of scheme, then the load structure in new

60 Invesco India Contra Fund

 scheme prevailing at the time of registration of Modify facility mandate
will be applicable. However, in case of request for modification of plan /
option of the scheme, frequency, amount and date of SIP installment, the
load structure prevailing at the time of registration of SIP will continue
to be applicable. It is clarified that no entry load will be charged on SIP
irrespective of the date of registration of SIP.

Top-Up facility/Pause facility/Modify facility would not be available to investors

registered under SIP through Post Dated Cheques/ Channel Partners/ Stock
Exchange Platforms. Pause facility is now available on BSE StAR MF platform.

Online/Internet Systematic Investment Plan (‘ISIP’) facility

Online SIP facility enables investors to register SIP through online mode on the
website of the Fund www.invescomutualfund.com.

The features, terms and conditions for availing ISIP facility are as follows:

a. ISIP facility offers monthly and quarterly frequency. Investors can choose
any date of his/her choice except 29th, 30th and 31st as ISIP debit date. If no
frequency is specified, monthly frequency shall be treated as default
frequency. In case the date specified falls on a Non-Business Day or falls
during a book closure period, the immediate next Business Day will be
considered for the purpose of determining the applicable NAV.

b. Load structure prevailing at the time of the registration of ISIP will be

applicable for all ISIP installments covered under that ISIP registration.

c. ISIP facility is available only with banks and service providers with whom
Invesco Mutual Fund has tie up for Auto Debit. The list of banks is available
on our website www.invescomutualfund.com.

d. The registration for ISIP facility should be submitted at least 15 calendar

days prior to first ISIP installment date.

e. Unique Registration Number (URN) will be allotted to the investors after

registration of ISIP on website of the Fund. Investor is required to register
the said URN with the same bank as opted at the time of registration of ISIP
within 10 calendar days from the date of URN allotment. In case investor has
multiple bank accounts associated under his/her Net Banking account, then
the investor should ensure that the bank account registered under the folio is
opted for registering the URN.

f. The Fund reserves the right to cancel the ISIP registration if URN is not
registered within 10 calendar days from the date of URN allotment or in case
the ISIP installment is debited from bank account other than the bank
account which is registered in the investor’s folio.

g. Investor can discontinue the ISIP facility at any time by submitting SIP
cancellation form duly signed as per mode of holding to any of nearest
Investor Service Center, at least 10 Business Days prior to the next ISIP
debit date.

h. Top Up SIP facility, Modify SIP facility and Pause SIP facility are not
available for registration through ISIP facility.

Third Party Payment for registration of ISIP will not be accepted. Third Party
Payment means a payment made through bank account other than that of bank
account of first named applicant/investor or a joint bank account where the first
named unit holder /investor is not one of the joint holders of bank account from

61 Invesco India Contra Fund

which payment is made.

All other terms and conditions of Systematic Investment Plan will also be
applicable to ISIP facility.

The AMC reserves right to change the frequency, date(s) or other terms and
conditions of SIP.

Systematic Transfer Plan (STP):

A Unit holder may enroll for Systematic Transfer Plan (STP) and choose to switch
from one scheme of Invesco Mutual Fund to another scheme of Invesco Mutual
Fund, which is available for investment at that time.

This facility enables the Unit holder to transfer specified amount periodically from
the Source scheme (“Transferor scheme”) to Target scheme (“Transferee
scheme”) by redeeming units of the Source scheme at Applicable NAV, subject to
Exit Load, if any and investing the same amount in target scheme at Applicable
NAV.

The amount to be transferred (switched) will be converted into Units on the

scheduled date and such number of units will be subtracted from the unit balance
in the Unit holder account in the source (transferor) scheme. The amount so
switched will be invested in the target (transferee) scheme. Accordingly,
systematic transfer to be effective must comply with the redemption rules of
source/transferor scheme and issue rules of target /transferee scheme.

The Fund offers following options under STP:

a. Fixed STP;
b. Flex STP; and
c. Appreciation STP.

The Scheme acts as Source (Transferor) Scheme for Fixed STP, Flex STP and
Appreciation STP and Target Scheme for Fixed STP.

a. Fixed STP

1. Fixed STP offers daily, weekly, fortnightly, monthly and quarterly

(April/ July/ Oct/ Jan) frequency.
2. In case of daily frequency, the instalment will be processed only if it is a
Business Day for source scheme as well as target scheme.
3. In case of weekly frequency, Unit holder can transfer the amount on any
day of his / her choice between Monday to Friday. In case, the STP day is
not specified or in case of ambiguity, Monday will be considered as
default day for STP instalment.
4. In case of fortnightly frequency, Unit holder can transfer the amount on
1st and 16th of each month.
5. In case of monthly / quarterly frequency, Unit holder can choose any date
of his / her choice except 29th, 30th & 31st as STP date. In case the STP
date is not specified or in case of ambiguity, the STP transaction will be
processed on 15th of each month / quarter.
6. In case the frequency is not specified, it will be considered as application
for monthly frequency and will be processed accordingly.
7. If the start month is not specified, the STP application would be
processed from the succeeding month on the date specified by the
investor at the time of enrolment, provided the condition for minimum
number of installments is met. If the end month is not specified, the Fund
would continue the STP till it receives termination notice from the
investor. In case the start month and end month both are not specified, the
STP application would be registered for the minimum number of

62 Invesco India Contra Fund

 installments.
8. Minimum amount (for each transfer to Target scheme other than Invesco
India Tax Plan*) should be Rs. 500 and in multiples of Re.1 thereafter for
daily frequency, Rs. 1,000 and in multiples of Re.1 thereafter for weekly,
fortnightly & monthly frequency and Rs. 1,500 and in multiples of Re.1
thereafter for quarterly frequency. Minimum amount for each transfer to
Invesco India Tax Plan* should be Rs. 500 and in multiples of Re.500 for
daily, weekly, fortnightly, monthly and quarterly frequency.
9. Minimum number of installments should be 12 for daily frequency, 6 for
weekly, fortnightly & monthly frequency and 4 for quarterly frequency.
However, for Fortnightly STP under Invesco India Tax Plan, minimum
number of installments should be 12.
10. In case the unit balance in the Source (Transferor) scheme is lesser than
amount specified by the Unit holders for STP, the AMC will transfer
remaining unit balance to Target (Transferee) scheme.

Note: An open ended equity linked saving scheme with a statutory lock in of 3
years and tax benefit.

b. Flex STP

Under Flex STP Option, Unit holder of the Scheme can opt to transfer variable
amount linked to value of his investments on the date of transfer as specified by
the unit holder(s) to the “Growth Option” of designated open-ended equity
scheme(s) (“Transferee Scheme/Target Scheme”) of the Fund except Invesco
India Tax Plan.

The features, terms and conditions for availing Flex STP Option are as follows:

a. Flex STP Option offers transfer facility at monthly and quarterly

frequency. Investors can choose any date of his/her choice except 29th,
30th and 31st as Flex STP Date. In case the Flex STP date is not specified
or in case of ambiguity, the Flex STP transaction will be processed on
15th of each month / quarter. If no frequency is specified, monthly
frequency shall be treated as default frequency.
b. Minimum number of installments should be 6 for monthly frequency and
4 for quarterly frequency.
c. Minimum amount for each transfer should be Rs. 1,000 and in multiples
of Re.1 thereafter for monthly frequency or Rs. 1,500 and in multiples of
Re.1 thereafter for quarterly frequency.
d. One Flex STP enrolment form can be filled for transfer into one
Scheme/Plan/Option only.
e. The first Flex STP installment will be processed for the installment
amount specified by the investor at the time of enrolment. For the second
Flex STP installment onwards, the transfer amount shall be computed as
per formula stated below.
f. Calculation of Flex STP installment amount

The amount to be transferred in the Transferee (Target) Scheme on the date of

transfer shall be higher of:

Fixed amount to be transferred per installment as specified by the investor;

Or
The amount determined by using following formula:

Fixed amount to be transferred per installment as specified by the investor x

number of installments (including the current installment) minus market value of
investments through Flex STP.

63 Invesco India Contra Fund

If the amount (as specified by the formula) to be transferred under STP is not
available in the Transferor Scheme in the unit holder's account, the residual
amount will be transferred to the Transferee Scheme and Flex STP will be closed.

If the NAV falls continuously during the Flex STP Option period, number of
actual installments may be less than those mentioned in the Flex STP Option
enrolment form.

The total amount invested in the Transferee (Target) Scheme through Flex STP
Option shall not exceed the total amount of investment specified by the investor at
the time of enrolment of Flex STP Option i.e. amount per installment x number of
enrolled installments.

In case, other financial transactions (i.e. purchase, redemption or switch) are

requested by the investor in the Transferee (Target) Scheme in the same folio
during the tenure of Flex STP, the balance installments under Flex STP Option
will be processed as Fixed STP Option for total investment amount as specified by
the investor at the time of enrollment subject to clause (h) above.

An Illustration: Flex STP will work as follows:

Installment amount to be transferred Rs.3,000/-

No. of Installments 12
September 2020 - August
STP period 2021
STP Start Date 3rd of the month

Calculation of Flex STP installment amount on the date of the fifth installment i.e.
January 3, 2021.
i. Total units allotted up to the date of last (fourth) installment i.e.
December 3, 2020 is assumed as 823;
ii. NAV as on January 3, 2021 of Growth option of Transferee
Scheme is assumed as Rs. 12/- per unit;
iii. Hence the market value of investment in the Transferee Scheme on
the date of transfer of fifth installment i.e. January 3, 2021 will be
Rs 9,876/- i.e. (823*12).

The installment amount for fifth installment will be calculated as follows:

(a) Fixed amount to be transferred per installment: Rs. 3,000/-.
Or
(b) As determined by the formula: (3,000*5) - 9,876 = Rs. 5,124/-.

(a) Or (b) whichever is higher:

Hence, the installment amount to be transferred in the Transferee Scheme

on January 3, 2021 will be Rs. 5,124/-

Note: An open ended equity linked saving scheme with a statutory lock in of 3
years and tax benefit.

C. Appreciation STP

Under this option, the unit holder can transfer Rs. 500 and above on
monthly/quarterly (April/ July/ Oct/ Jan) basis by transferring appreciation, if any,
in the value of units of the Scheme to designated open-ended equity scheme(s)
(“Transferee Scheme/Target Scheme”) of the Fund except Invesco India Tax
Plan*. If no frequency is specified, monthly frequency shall be treated as default
frequency. Investors can choose any date of his/her choice except 29th , 30th and
31st. In case the date is not specified or in case of ambiguity, the capital
appreciation, if any, will be processed on 15th of each month / quarter. Capital

64 Invesco India Contra Fund

appreciation, if any, will be calculated from the enrolment date of the STP till first
transfer date. Subsequent capital appreciation, if any, will be the capital
appreciation between the previous STP date (where STP has been processed and
transferred) and the current STP date.

In case of Appreciation Option, if on the date of transfer, there is no appreciation

or appreciation is less than Rs. 500, the redemption / transfer under this option
will not be made.

* An open ended equity linked saving scheme with a statutory lock in of 3 years
and tax benefit.

Terms & Conditions common (applicable) to Fixed STP, Flex STP and
Appreciation STP Options:

1. In case the Unit holder has not specified any option at the time of enrollment,
the Fund will register STP under Fixed option.
2. In case the date specified is a non-Business Day or falls during a book closure
period, the transaction will be effected on next Business Day.
3. Minimum balance in the Source (Transferor) scheme should be Rs. 6,000 at
the time of enrollment for STP.
4. The load structure in Transferee (Target) scheme prevailing at time of
submission of STP application (whether for fresh enrollment or extension)
will be applicable for all the investment through STP specified in such
application.
5. In case the investor purchases additional Units in the Source (Transferor)
scheme, the STP facility would be extended to such additional units also.
Further, the unit holder who has opted for STP under Source scheme can also
redeem or switch his units to any other eligible scheme provided he has
sufficient balance in his account on the date of such a request.
However, in case, other financial transactions (i.e. purchase, redemption or
switch) are requested by the investor in the Transferee (Target) Scheme in the
same folio during the tenure of Flex STP, the balance installments under Flex
STP Option will be processed as Fixed STP Option for total investment
amount as specified by the investor at the time of enrollment.
6. Units marked under lien or pledge in the source scheme will not be eligible
for STP.
7. STP (in) and SWP cannot be simultaneously registered for a folio for the
same scheme.
8. STP will be automatically terminated if all the units are liquidated or
withdrawn from the Source (Transferor) scheme or the unit balance under the
folio becomes Nil.
9. STP will be automatically terminated if the units under the Source
(Transferor) scheme are pledged or upon receipt of intimation of death of the
Unit holder.
10. The transaction through STP will be subject to applicable exit load in the
Source (Transferor) scheme.
11. The application for start of STP should be submitted to Official Point(s) of
Acceptance at least 7 days and not more than 60 days before the date of
commencement / start date of STP. Unit holder may change the amount (but
not below the minimum specified) / frequency by giving written notice to any
of the Official Point(s) of Acceptance at least 7 days prior to next transfer /
STP execution date.
12. Unit holder can discontinue STP facility at any time by sending a written
notice to any of the Official Point(s) of Acceptance, at least 7 days prior to
next transfer / STP execution date.
13. Unit holders details and mode of holding in the Target (Transferee) scheme
will be as per the existing folio in the Source (Transferor) scheme. Units in
the Transferee (Target) Scheme will be allotted in the same folio.
14. STP in a folio of minor will be executed only upto the date of minor attaining

65 Invesco India Contra Fund

 majority even though the instruction may be for the period beyond that date.

The AMC reserves right to change the frequency, date(s) or other terms and
conditions of STP.

Systematic Withdrawal Plan (SWP):

This facility enables the Unit holders to withdraw (subject to deduction of tax at
source, if any) a fixed amount periodically from the amount of investment
available in the Unit holder’s account at periodical intervals through a one-time
request. This facility is ideal for those Unit holders who seek inflow of the funds
on regular basis to meet their needs or who wish to withdraw from the investment
over a period of time.

The amount withdrawn under SWP by redemption will be converted into Units at
the NAV based prices and the number of Units so arrived will be deducted from
the Unit balance to the credit of that Unit holder.

The features and terms & conditions of SWP are as under:

1. This facility offers two options to the Unit holders:
a Fixed option: Under this option, the Unit holder can withdraw a fixed
amount on weekly/monthly/quarterly (April/ July/ Oct/ Jan) basis by
redemption of units in the Unit holders’ account.
b Appreciation option: Under this option, the unit holder can withdraw Rs.
500 and above on weekly/monthly/quarterly (April/ July/ Oct/ Jan) basis
by redemption of appreciation, if any, in the value of Units.
2. Unit holder can withdraw the amount on the first business day of the week in
case of weekly frequency and on 3rd, 10th , 15th , 20th or 25th of each month /
quarter. In case the date specified is a non Business Day or falls during a
book closure period, the transaction would be effected on the next Business
Day.
3. In case the frequency is not specified, it will be considered as application for
monthly frequency and will be processed accordingly. In case the SWP date
is not specified or in case of ambiguity, the SWP transaction will be
processed on 15th of month / quarter. In case the end date is not specified, the
Fund would continue the SWP till it receives termination notice from the
investor.
4. Minimum balance in the Scheme should be Rs. 6,000 at the time of
enrollment for SWP.
5. Minimum amount for each withdrawal should be Rs. 1,000 and in multiples
of Re.1 thereafter for weekly & monthly frequency or Rs. 1,500 and in
multiples of Re.1 thereafter for quarterly frequency.
6. Minimum number of withdrawals should be 6 for weekly & monthly
frequency and 4 for quarterly frequency.
7. In case of appreciation option, if, on the date of withdrawal, there is no
appreciation or appreciation is less than Rs. 500, the redemption /
withdrawal under this option will not be made.
8. In case the investor purchases additional Units in the Scheme under the same
folio, the SWP facility would be extended to such units also.
9. The facility will be automatically terminated if the units in the Scheme are
pledged or upon receipt of intimation of death of the Unit holder or if all
units are liquidated or withdrawn from the source (transferor) or the units
balance under the folio becomes Nil.
10. The redemption under SWP will be subject to applicable Exit Load. The load
structure prevailing at time of submission of SWP application will be
applicable to all the SWP transactions specified in such application. Please
refer to ‘Load Structure’ in section ‘Fees and Expenses’ of this document.
11. SIP and SWP cannot be simultaneously registered for a folio for the same
scheme.
12. SWP and STP (in) cannot be simultaneously registered for a folio for the

66 Invesco India Contra Fund

 same scheme.
13. The investor should indicate in his request, the commencement / start date
from which the appreciation in investment value should be computed. The
withdrawal will commence after one month from the commencement / start
date.
14. The application for start of SWP should be submitted to Official Point(s) of
Acceptance at least 7 days before the date of commencement / start date of
SWP. Unit holder may change the amount (but not below the minimum
specified) / frequency by giving written notice to any of the Official Point(s)
of Acceptance at least 7 days prior to next SWP execution date.
15. Unit holder can discontinue SWP facility at any time by sending a written
notice to any of the Official Point(s) of Acceptance, at least 7 days prior to
next SWP execution date.
16. If the balance under scheme falls below Rs. 5,000/ -, then AMC reserves the
right to redeem the balance units.
17. SWP in a folio of minor will be executed only upto the date of minor
attaining majority even though the instruction may be for the period beyond
that date.
18. The AMC reserves right to change the frequency, date(s) or other terms and
conditions of SWP.

Switching Options:

• Inter-Scheme Switching
Unit holders under the Scheme have the option to switch part or all of their Unit
holdings in the Scheme to any other scheme offered by the Mutual Fund from
time to time. This option will be useful to Unit holders who wish to alter the
allocation of their investment among the scheme(s) / plan(s) of the Mutual Fund in
order to meet their changed investment needs.

Switch will be effected by way of a redemption of Units from the Scheme at

Applicable NAV, subject to Exit load, if any and reinvestment of the redemption
proceeds into another scheme offered by the Mutual Fund at Applicable NAV and
accordingly Switch must comply with the redemption rules of the Scheme and the
subscription rules of the other Scheme.

• Intra-Scheme Switching
Unit holders under the Scheme have the option to switch their Unit holdings from
one plan to another plan and/or from one option to another option (i.e. growth to
IDCW and vice-a-versa), subject to completion of lock in period, if any. No Exit
Load will be charged in respect of such intra-scheme switching in the Scheme
from one option to another option, however for Exit Load on switch from one plan
to another plan, please refer to section on “Load Structure”. Switches would be
done at the Applicable NAV based prices and the difference between the NAVs of
the two options / plans will be reflected in the number of units allotted.

Switching shall be subject to the applicable “Cut off time and Applicable NAV”
stated elsewhere in the SID. In case of ‘switch’ transactions from one scheme to
another the allocation shall be in line with redemption payouts.

Event Trigger Plan (ETP):

Under this facility, the Unit holders may opt for withdrawal/ switch of units to any
other plan/ scheme on the occurrence of any one of the following events under
trigger option:

A. NAV reaches or crosses a particular value: e.g. NAV reaches or crosses Rs.
12.00. If NAV on the date of allotment of investment is less than Rs. 12.00,
the trigger will be activated when the NAV rises to Rs. 12.00 or more on
close of any day on which NAV is computed.

67 Invesco India Contra Fund

 If NAV on the date of allotment of investment is more than Rs.12.00, the
trigger will be activated when the NAV falls to Rs. 12.00 or below on close
of any day on which NAV is computed. All transactions linked with trigger
will be on the basis of the Applicable NAV of the transaction day on which
NAV reaches, crosses or falls below Rs. 12.00

B. Change in the value of units held by Unit holders at least by certain

percentage: e.g. change in the value of investment by at least by (+ or - or +/)
10%

The trigger will be activated when value of the unit holding rises to 10% or
more at the close of any day on which the NAV is declared or the trigger will
be activated when value of the unit holding falls by 10% or more at the end
of any day on which the NAV is declared or the trigger will be activated
when value of the unit holding either rises by 10% or more or falls by 10%
or more on any day on which the NAV is declared.

C. Specific Date Trigger: e.g. The trigger will be activated on the specific date
stated by the Unit holder

Under this facility investor may opt for the following action to be triggered:
(Alert notification by Email or SMS)

 Redemption of all / partial Units / specific amount;

 Switch out of all / partial Units / specific amount;
 Total amount or percentage of capital appreciation.

The following are the other conditions for ETP:

1. Investors are requested to select any one trigger condition / action

mentioned under section A, B & C above. Multiple trigger condition /
action will render the application as invalid.

2. In case investor opts for an “Alert”, a notification will be sent by SMS or e-

mail, as opted, on the day the “Trigger” condition is satisfied. Any
subsequent transaction has to be submitted by investor as per terms and
conditions of normal transaction.

3. In case “Switch” option is selected, the same will be executed subject to the
minimum purchase / redemption criteria of the respective schemes being
satisfied. Else the trigger will not be executed.

4. Units marked under lien or pledged in the Scheme shall not be eligible for
ETP.

5. NAVs of the schemes are declared at the close of the Business Day and
hence value of the Unit holder’s investments based on the end of day NAV
will be considered as a base for activating the trigger. Accordingly all the
redemptions / switches will be executed on the Business Day on which the
event occurs.

6. If the Plan / Option / Sub-Option of the Target scheme where the units will
be switched is not indicated, units will be switched to the default option of
the target scheme

7. Switch will be implemented on the day the trigger condition is satisfied. The
trigger is a one-time operation and will cease once it is exercised.

8. Once a transaction is processed exercising trigger option, the same will not

68 Invesco India Contra Fund

 be reversed and it will be final and binding.

9. If a trigger is not achieved and/or implemented due to reasons which are

beyond the control of the AMC, the AMC would not be held responsible.
Trigger facility is only a facility extended by the AMC for the convenience
of the Unit holder and does not form part of any scheme / fund objective.

10. ETP in a folio of minor will be executed only upto the date of minor attaining
majority even though the instruction may be for the period beyond that date.

Transfer of Income Distribution cum Capital Withdrawal plan (IDCW

Transfer Plan):

All the unit holders in the IDCW option (except daily and weekly frequencies in
the IDCW option, if applicable) of all open-ended schemes mentioned below can
transfer their IDCW to the Scheme by availing the facility of IDCW Transfer
Plan. The Scheme acts as source and target scheme for IDCW Transfer Plan. To
qualify for IDCW Transfer Plan, the following conditions should be met with:

1. The Scheme is a Source (Transferor) and Target (Transferee) Scheme.

2. The frequency of the transfer will depend on the IDCW declared by the plan
in which the investment has been made.

3. There is no requirement of minimum balance in the “Source Scheme” to avail

IDCW Transfer Plan facility.

4. The provisions of minimum amount for investment in “Target Scheme” will

not be applicable for IDCW Transfer Plan facility. However, the minimum
amount of IDCW in the “Source Scheme” eligible for transfer under IDCW
Transfer Plan facility will be Rs. 500/-.

5. If the IDCW amount in the “Source Scheme” is less than Rs.500/-, the IDCW
will be reinvested in the ‘Source Scheme’ itself.

6. The amount to the extent of the IDCW (net of TDS and statutory levies, if
any) under the source scheme will be automatically invested on the Ex-IDCW
date into the eligible target scheme at the NAV based prices of that scheme
and equivalent units will be allotted. However, Source scheme and Target
scheme cannot be the same scheme.

7. Please note that the AMC does not guarantee any IDCW. IDCW is subject to
availability of distributable surplus, if any, in the scheme.

8. Load Structure applicable in the “target scheme” shall be as per the load
prevailing on the date of the creation of units in the target scheme.

9. IDCW Transfer Plan facility will not be available under Daily IDCW option
and Weekly IDCW option of schemes of the Fund.

10. The Fund will process registration of IDCW Transfer Plan mandate within 10
days from the date of receipt of IDCW Transfer Plan request.

Note: IDCW Transfer Plan in a folio of minor will be executed only upto the date
of minor attaining majority even though the instruction may be for the period
beyond that date.
Accounts Statements For Unitholders not having a Demat Account

• On acceptance of application for subscription, an allotment confirmation

specifying the number of Units allotted will be sent by way of e-mail and/or

69 Invesco India Contra Fund

 SMS to the applicant’s registered e-mail address and/or mobile number
within five Business Days from the date of receipt of transaction request
from the unit holder(s).

• Unit holder in whose folio(s) transaction(s)* has taken place will receive
Consolidated Account Statement (CAS) ^ for the calendar month on or
before 15th day of the succeeding month or such other timeline as may be
specified by the SEBI from time to time.

^ A Consolidated Account Statement (CAS) shall also contain details of all

the transactions* during the month, the total purchase value / cost of
investment in each scheme and holding at the end of the month across all
schemes of all mutual funds including transaction charges paid to the
distributor.

* the word ‘transaction’ shall include purchase, redemption, switch, IDCW

payout, IDCW reinvestment, systematic investment plan, systematic
withdrawal plan, systematic transfer plan and bonus transaction.

• For the purpose of sending CAS, common investor across mutual funds shall
be identified by their Permanent Account Number (PAN).

• In case the folio has more than one registered holder, the first named Unit
holder will receive CAS/account statements.

Further, the CAS detailing holding across all schemes of all mutual funds at the
end of every six months (i.e. September/ March), shall be sent by mail/e-mail on
or before 21st day of succeeding month or such other timeline as may be specified
by SEBI from time to time to all such Unit holders in whose folios no transaction
has taken place during that period. The half yearly consolidated account statement
will be sent by e-mail to the Unit holders whose e-mail address is available, unless
a specific request is made to receive in physical. In case of specific request
received from investors, Mutual Funds shall provide the account statement to the
investors within 5 business days from the receipt of such request without any
charges.

The AMC shall send first account statement for a new folio separately with all
details registered in the folio by way of a physical account statement and/or an e-
mail to the investor’s registered address / e-mail address not later than five
business days from the date of receipt of subscription request from the unit holder

For Unitholder(s) holding units in Account Statement mode (Physical) but

having a Demat account

a) Who have opted to receive CAS through Depositories

• On acceptance of application for subscription, an allotment confirmation

specifying the number of Units allotted will be sent by way of e-mail and/or
SMS to the applicant’s registered e-mail address and/or mobile number
within five Business Days from the date of receipt of transaction request
from the unit holder(s).

• Thereafter a CAS will be dispatched by Depositories within 15 Days from

the end of the month or such other timeline as may be specified by SEBI for
Permanent Account Numbers (PANs) which are common between
Depositories & AMC and in which transaction* has taken place during the
month.

• In case of multiple holding, PAN of the first holder and pattern of holding
will be considered for dispatching CAS.

70 Invesco India Contra Fund

• If the statements are presently being dispatched by e-mail either by the Fund
or the Depositories then CAS will be sent through email. However the Unit
holder will have an option to receive CAS in physical form at the address
registered in the Depository system.

• In case there is no transaction in any of the mutual fund folios and demat
accounts then CAS with holding details will be sent to the Unit holders on
half yearly basis.

• The dispatch of CAS by Depositories to Beneficial Owners would constitute

compliance by AMC / the Fund with the requirements under Regulation
36(4) of SEBI (Mutual Funds) Regulations 1996.

• The AMC shall send first account statement for a new folio separately with
all details registered in the folio by way of a physical account statement
and/or an e-mail to the investor’s registered address / e-mail address not later
than five business days from the date of receipt of subscription request from
the unit holder.

• In case of demat accounts with Nil balance and no transactions in securities

and in mutual fund folios, the Depositories shall send account statement in
terms of regulations applicable to the Depositories.

*the word ‘transaction’ shall include transaction in demat accounts of the investor
or in any of his mutual fund folios.

b) Who have opted not to receive CAS through Depositories

Unitholder(s) will have an option not to receive CAS through Depositories. Such
Unitholder(s) will be required to provide negative consent to the Depositories.
Unitholder(s) who have opted not to receive CAS through Depositories will
continue to receive CAS from AMC/ the Fund.

Further, CAS issued for the half-year (ended September/ March) shall also
provide:

a. The amount of actual commission paid by AMC/ Mutual Fund to distributors

(in absolute terms) during the half-year period against the concerned
investor’s total investments in each Mutual Fund scheme. The term
‘commission’ here refers to all direct monetary payments and other payments
made in the form of gifts / rewards, trips, event sponsorships etc. by
AMC/Mutual Fund to distributors. Further, a mention may be made in such
CAS indicating that the commission disclosed is gross commission and does
not exclude costs incurred by distributors such as Goods & Services Tax
(wherever applicable, as per existing rates), operating expenses, 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 the period for each scheme’s applicable
plan (regular or direct or both) where the concerned investor has actually
invested in.

Such half-yearly CAS shall be issued to all Mutual Fund investors, excluding
those investors who do not have any holdings in Mutual Fund schemes and where
no commission against their investment has been paid to distributors, during the
concerned half-year period.

For Demat Account Holders

71 Invesco India Contra Fund

 Unit holder who has opted to hold units in electronic (demat) mode will receive a
confirmation specifying the number of units allotted by way of e-mail and/ or
SMS to the applicant’s registered e-mail address and/or mobile number within
five business days from the date of receipt transaction request from the unit
holders.

Further, such Unit holder will receive holding/transaction statements directly from
his depository participant at such a frequency as may be defined in the
Depositories Act, 1996 or regulations made there under or on specific request.
IDCW • The IDCW warrants shall be dispatched to the Unit holders within 15 days
from the record date. In case the AMC fails to dispatch the warrants within
the above stipulated time it shall be liable to pay interest to the Unit holders at
15% p.a. or such other rate as may be prescribed by SEBI from time to time.
Interest for the delayed payment of IDCW shall be calculated from the record
date.
• For payment of IDCW, in addition to payment instruments such as cheque,
demand draft or IDCW warrant, the AMC may use payment channels such as
ECS / EFT / NEFT / IMPS / RTGS / Direct credits / or any other mode
allowed by Reserve Bank of India from time to time. For dispatch of
payments, the AMCs may use modes of dispatch such as speed post, courier
etc. in addition to the registered post with acknowledgement due.

• In case of specific request for IDCW by warrants or unavailability of

sufficient details with the Mutual Fund, the IDCW will be paid by
warrant and payments will be made in favour of the Unit holder
(registered holder of the Units or, if there are more than one registered
holder, only to the first registered holder) with bank account number
furnished to the Mutual Fund (please note that it is mandatory for the
Unit holders to provide the Bank account details as per the directives
of SEBI).
The policy regarding reissue of Units once redeemed will be extinguished and will not be reissued.
repurchased units, including the
maximum extent, the manner of
reissue, the entity (the scheme
or the AMC) involved in the
same.
Redemption (a) Redemption

The Unit holder can request for redemption by specifying either the amount in
rupees to be redeemed or the number of units to be redeemed. Where both the
amount as well as number of units has been specified, the Fund will redeem based
on number of units. Where the Unit holder has specified the amount to be
redeemed, the number of units redeemed will be the amount of redemption
divided by Redemption Price. Where the Unit holder specified the number of units
or amount in words and figures and there is mismatch between the
number/amount specified in words and figures, the redemption request will be
rejected.

In case the balance in Unit holder’s account does not cover the amount/ units of
redemption request, the Fund may close the Unit holder’s account and send the
entire such balance to the Unit holders.

The minimum amount/Units for redemption is Rs. 1,000/- or 0.001 Unit or

account balance whichever is lower.

(b) How to Redeem

A Unit holder desiring to redeem can use a transaction slip for redemption request.
Completed transaction slip can be submitted at an ISC/OPA. Transaction slips can

72 Invesco India Contra Fund

be obtained from any of the OPA.

In case the Units are standing in the names of more than one Unit holder, where
mode of holding is specified as ‘Jointly’, redemption requests will have to be
signed by all joint holders. However, in cases of holding specified as ‘Anyone or
Survivor’, any one of the Unit holders will have the power to make redemption
requests, without it being necessary for all the Unit holders to sign. However, in
all cases, the proceeds of the redemption will be paid only to the first-named
holder.

Where Units under a Scheme are held under both Existing and Direct Plans and
the redemption / switch request pertains to the Direct Plan, the same must clearly
be mentioned on the request (along with the folio number), failing which the
request would be processed from the Existing Plan. However, where Units under
the requested Option are held only under one Plan, the request would be processed
under such Plan.

In addition to redemption of Units through submission of application in physical,

investor / unit holder can also redeem Units of the Scheme through our website
www.invescomutualfund.com as well as https://mfs.kfintech.com/mfs/, an
electronic platform provided by RTA. The facility to transact in the Scheme is
also available through mobile application of RTA i.e. ‘KFinKart’.

Further, AMC reserves the right to provide the facility of redeeming units of the
Scheme through an alternative mechanism including but not limited to on - line
transactions on the Internet, as may be decided by the AMC from time to time.
The alternative mechanism may also include electronic means of communication
such as redeeming units online through the website of the AMC or any other
website etc. The alternative mechanisms would be applicable to only those
investors who opt for the same and subject to investor fulfilling such conditions as
AMC may specify from time to time.

Signature mismatches
If the AMC / Registrar finds a signature mismatch, while processing the
redemption / switch out request, then the AMC/ Registrar reserves the right to
process the redemption only on the basis of supporting documents confirming the
identity of the investors.

(c) Payment of Redemption Proceeds

i. For Unit holders having a bank account with certain banks with whom the
AMC may have an arrangement from time to time:
The redemption proceeds shall be directly credited to their account by way
of ECS / EFT / NEFT / IMPS / RTGS / Direct credits / or any other mode
allowed by Reserve Bank of India from time to time if sufficient banking
account details of investors are available with Mutual Fund or paid through
payment instrument such as cheque or demand draft, as may be decided by
AMC from time to time. For payments to unitholders, the AMC may use
modes of despatch such as speed post, courier etc. in addition to the
registered post with acknowledgement due.
ii. For other Unit holders not covered by (i) above and Unit holders covered by
(i) but have given specific request for Cheque/Demand Draft:

Redemption proceeds will be paid by cheque and payments will be made in favour
of the Unit holder with bank account number furnished to the Mutual Fund (please
note that it is mandatory for the Unit holders to provide the Bank account details
as per the directives of SEBI). Redemption cheques will be sent to the Unit
holder’s address through modes such as speed post, courier etc. in addition to the
registered post with acknowledgement due.

All Redemption payments will be made in favour of the registered holder of the

73 Invesco India Contra Fund

 Units or, if there is more than one registered holder, only to the first registered
holder.

As per SEBI (MF) Regulations, the Mutual Fund shall dispatch Redemption
proceeds within 10 Business Days from the Redemption date. A penal interest of
15% p.a. or such other rate as may be prescribed by SEBI from time to time, will
be paid in case the Redemption proceeds are not made within 10 Business Days
from the Redemption Date.

Note: The Trustee, at its discretion at a later date, may choose to alter or add other
modes of payment.

The redemption proceeds will be sent by courier or (if the addressee city is not
serviced by the courier) by registered post. The despatch for the purpose of
delivery through the courier /postal department, as the case may be, shall be
treated as delivery to the investor. The AMC / Registrar are not responsible for
any delayed delivery or non-delivery or any consequences thereof, if the despatch
has been made correctly as stated in this paragraph.

REDEMPTION BY NRIs / FPIs

Credit balances in the account of NRI / FPI Unit holder, may be redeemed by such
Unit holder in accordance with the procedure described in SID and subject to any
procedures laid down by the RBI, if any. Payment to NRI / FPI Unit holders will
be subject to the relevant laws / guidelines of the RBI as are applicable from time
to time (also subject to deduction of tax at source as applicable).

In the case of NRIs

(i) Credited to the NRI investor's NRO account, where the payment for the
purchase of the Units redeemed was made out of funds held in NRO account
or
(ii) Remitted abroad or at the NRI investor's option, credited to his NRE / FCNR
/ NRO account, where the Units were purchased on repatriation basis and the
payment for the purchase of Units redeemed was made by inward remittance
through normal banking channels or out of funds held in NRE / FCNR
account.

In the case of FPIs

Credit the net amount of redemption proceeds of such Units to the foreign
currency account or Non-Resident Rupee Account of the FPI investor.

Pursuant to Government of India Notification No. GSR (381) E dated May 3,

2000, transactions which are not specifically prohibited under the Foreign
Exchange Management (Current Account Transactions) Rules, 2000 or which are
not included in Schedule II (transactions specified in this Schedule require prior
approval of the Government of India) or Schedule III (transactions specified in
this Schedule require prior approval of Reserve Bank of India) may be permitted
by authorized dealers without any monetary / percentage ceilings subject to
compliance with the provisions of Section 10(5) of the Foreign Exchange
Management Act, 1999.

Effect of Redemption
The number of Units held by the Unit holder in his folio will stand reduced by the
number of Units redeemed.
Bank Details In order to protect the interest of Unit holders from fraudulent encashment of
cheques, the current SEBI (MF) Regulations has made it mandatory for investors
to mention in their application /redemption request, their bank name and account
number.

The normal processing time may not be applicable in situations where such details
are not provided by investors / Unit holders. The AMC will not be responsible for

74 Invesco India Contra Fund

 any loss arising out of fraudulent encashment of cheques and / or any delay / loss
in transit.

The AMC offers its investors a facility to register multiple bank accounts
in a folio. Individuals and HUFs investors can register upto five bank
accounts at the folio level and non-individual investors can register upto
ten bank accounts at the folio level. Please refer to the SAI for more details.
Delay in payment of The AMC shall be liable to pay interest to the Unit holders at 15% p.a. or such
redemption / repurchase other rate as may be prescribed by SEBI from time to time, in case the redemption
proceeds / repurchase proceeds are not made within 10 Business Days from the date of
Redemption / repurchase. However, the AMC will not be liable to pay any interest
or compensation or any amount otherwise, in case the AMC / Trustee is required
to obtain from the investor / Unit holders verification of identity or such other
details relating to subscription for Units under any applicable law or as may be
requested by a regulatory body or any government authority, which may result in
delay in processing the application.
Unclaimed Redemption and The list of name(s) and addresses of investors of the Scheme in whose folios there
Dividend amount would be unclaimed redemption/dividend amounts would be made available on
our website (www.invescomutualfund.com). An investor can obtain details after
providing his proper credentials (like PAN, date of birth, etc.) along with other
security controls put in place by the AMC. Further, the process for claiming
unclaimed redemption and dividend amounts and necessary forms/documents
required for the same is also made available on our website.

Further, pursuant to SEBI Circular reference no. SEBI/ HO/ IMD/ DF2/ CIR/ P/
2016/ 37 dated February 25, 2016 on treatment of unclaimed redemption and
dividend amounts, redemption/dividend amounts remaining unclaimed based on
expiry of payment instruments will be identified on a monthly basis and amounts
of unclaimed redemption/dividend would be deployed in the respective
Unclaimed Amount Plan(s) as follows:
 Invesco India Liquid Fund - Unclaimed Redemption Plan - Below 3 Years
 Invesco India Liquid Fund - Unclaimed Dividend Plan - Below 3 Years
 Invesco India Liquid Fund - Unclaimed Redemption Plan - Above 3 Years
 Invesco India Liquid Fund - Unclaimed Dividend Plan - Above 3 Years

Investors who claim the unclaimed amount during a period of three years from the
due date will be paid initial unclaimed amount along-with the income earned on
its deployment. Investors who claim these amounts after 3 years, will be paid
initial unclaimed amount along-with the income earned on its deployment till the
end of third year. After the third year, the income earned on such unclaimed
amounts shall be used for the purpose of investor education.

For details of characteristics of above Unclaimed Amount Plan(s), investors are

requested to refer the Statement of Additional Information available on our
website www.invescomutualfund.com.
Restrictions, if any, on the right There are no restrictions on transfer of Units of the Scheme. Further, the Units
to freely retain or dispose of held in dematerialized form can be transferred and transmitted in accordance with
units being offered. the provisions of SEBI (Depositories and Participants) Regulations, as may be
amended from time to time.

Further, additions / deletions of names of Unit holders will not be allowed under
any folio of the Scheme. However, the said provisions will not be applicable in
case a person (i.e. a transferee) becomes a holder of the Units by operation of law
or upon enforcement of pledge, then the AMC shall, subject to production of such
satisfactory evidence and submission of such documents, proceed to effect the
transfer, if the intended transferee is otherwise eligible to hold the Units of the
Scheme.

The said provisions in respect of deletion of names will not be applicable in case
of death of a Unit holder (in respect of joint holdings) as this is treated as

75 Invesco India Contra Fund

transmission of Units and not transfer.

Pledge of Units
The Units under the Scheme may be offered as security by way of a pledge /
charge in favour of scheduled banks, financial institutions, non-banking finance
companies (NBFCs) or any other body. The AMC and / or the Registrar will note
and record such pledge of Units. The AMC shall mark a lien only upon receiving
the duly completed form and documents as it may require. Disbursement of such
loans will be at the entire discretion of the bank / financial institution / NBFC or
any other body concerned and the Mutual Fund/AMC assumes no responsibility
thereof.

The Pledgor will not be able to redeem Units that are pledged until the entity to
which the Units are pledged provides written authorization to the Mutual Fund
that the pledge / lien charge may be removed. As long as Units are pledged, the
Pledgee will have complete authority to redeem such Units.

Lien on Units
For NRIs, the AMC may mark a lien on units in case documents which need to be
submitted are not given in addition to the application form and before the
submission of the redemption request.

However, the AMC reserves the right to change operational guidelines for lien on
units from time to time.

Units held in demat form

Units held in demat form will be freely transferable from one demat account to
another demat account. The Units held in demat mode can be pledged and lien can
be marked as per the provisions of Depositories Act and Rules and Regulations
framed by Depositories.

Restriction on Redemption / Switch-out of Units

The Trustee may, in the general interest of the Unit holders of the Scheme and
when considered appropriate to do so based on unforeseen circumstances /
unusual market conditions, impose restriction on redemption of Units of the
schemes (including plans/ options thereunder) of the Fund. The following
requirements will be observed before imposing restriction on redemptions:

1. Restrictions may be imposed when there are circumstances leading to a

systemic crisis or event that severely constricts the market liquidity or the
efficient functioning of the market such as:
i. Liquidity Issues: When markets at large become illiquid affecting almost
all securities rather than any issuer specific security.
ii. Market failures, exchange closure: When markets are affected by
unexpected events which impact functioning of exchanges or the regular
course of transactions. Such unexpected events could also be related to
political, economic, military, monetary or other emergencies.
iii. Operational Issues: When exceptional circumstances are caused by force
majeure, unpredictable operational problems and technical failures (e.g. a
black out). Such cases can only be considered if they are reasonably
unpredictable and occur in spite of appropriate diligence of third parties,
adequate and effective disaster recovery procedures and systems.

2. Restrictions on redemption may be imposed for a specified period of time not

exceeding 10 Business Days in any period of 90 days.

3. Any imposition of restriction on redemption will be with specific approval of

Board of AMC and Trustees and the same will be informed to SEBI
immediately.

76 Invesco India Contra Fund

4. When restrictions on redemption is imposed, the following procedure will be
applied:
i. Redemption requests upto Rs. 2 lakh will not be subject to such
restriction.
ii. In case of redemption requests above Rs.2 lakh, the AMC shall redeem
the first Rs. 2 lakh without such restrictions and remaining part over and
above Rs.2 lakh will be subject to such restrictions.

77 Invesco India Contra Fund

 C. PERIODIC DISCLOSURES

Net Asset Value The Direct Plan under the Scheme will have a separate NAV.

This is the value per unit of The AMC will calculate the NAVs on daily basis. The AMC shall prominently
the scheme on a particular disclose the NAVs of the Scheme under a separate heading on the website of the
day. You can ascertain the Fund (www.invescomutualfund.com) and on the website of AMFI
value of your investments by (www.amfiindia.com) before 11.00 p.m. on every Business Day. If the NAVs are
multiplying the NAV with not available before the commencement of business hours on the following day due
your unit balance. to any reason, the Mutual Fund shall issue a press release giving reasons and
explaining when the Mutual Fund would be able to publish the NAVs.

Further the Mutual Fund / AMC has extended facility of sending latest available
NAVs of the Scheme to the Unit holders through SMS upon receiving a specific
request in this regard. Also, information regarding NAVs can be obtained by the
Unit holders / Investors by calling or visiting the nearest ISC.
Half yearly Disclosures: The Mutual Fund/AMC shall disclose portfolio (along with ISIN) of the Scheme as
Portfolio / Financial Results on the last day of the month / half year on website of Mutual Fund
(www.invescomutualfund.com) and on the website of AMFI (www.amfiindia.com)
This is a list of securities within 10 days from the close of each month/ half-year respectively in a user-
where the corpus of the friendly and downloadable spreadsheet format.
scheme is currently invested.
The market value of these In case of Unitholders whose e-mail addresses are registered, the Mutual Fund /
investments is also stated in AMC shall send via e-mail both the monthly and half-yearly statement of Scheme
portfolio disclosures. portfolio within 10 days from the close of each month/ half-year respectively.

Further, the Mutual Fund/AMC shall publish an advertisement in the all India
edition of at least two daily newspapers, one each in English and Hindi, every half-
year disclosing the hosting of the half-yearly statement of the Scheme portfolio on
the website of the Mutual Fund (www.invescomutualfund.com) and on the website
of AMFI (www.amfiindia.com).

The Unitholder may request for physical or electronic copy of the statement of
Scheme portfolio by writing to the AMC at the e-mail address
[email protected] or calling the AMC on or on 1800-209-0007 (Toll Free)
or by submitting the request letter to any of the Investor Services Centre of Invesco
Mutual Fund or of KFin Technologies Private Limited.

The Mutual Fund/ AMC shall provide a physical copy of the statement of Scheme
portfolio, without charging any cost, on specific request received from a unitholder.

Further, the Mutual Fund and Asset Management Company shall within one month
from the close of each half year (i.e. on 31st March and on 30th September) host a
soft copy of the unaudited financial results of the Scheme on the website of the
Mutual Fund (www.invescomutualfund.com) and on the website of AMFI
(www.amfiindia.com). Also an advertisement disclosing the hosting of the
unaudited financial results of the Scheme on the website will be published, in atleast
one English daily newspaper having nationwide circulation and in a newspaper
having wide circulation published in language of the region where the Head Office
of the Mutual Fund is situated.

The AMC has provided on its website a dashboard in a comparable, downloadable

(spreadsheet) and machine-readable format giving information such as Scheme’s
AUM, investment objective, expense ratios, portfolio details, scheme’s past
performance etc.
Half Yearly Results The Mutual Fund and Asset Management Company shall within one month from the
close of each half year (i.e. on 31st March and on 30th September) host a soft copy of
the unaudited financial results of the Scheme on the website of the Mutual Fund on
the website of the Mutual Fund (www.invescomutualfund.com) and on the website
of AMFI (www.amfiindia.com). Also an advertisement disclosing the hosting of the

78 Invesco India Contra Fund

 unaudited financial results of the Scheme on the website will be published, in atleast
one English daily newspaper having nationwide circulation and in a newspaper
having wide circulation published in language of the region where the Head Office
of the Mutual Fund is situated.
Annual Report The scheme wise annual report and abridged summary thereof shall be hosted on the
website of the Mutual Fund (www.invescomutualfund.com) and on the website of
AMFI (www.amfiindia.com) not later than four months (or such other period as may
be specified by SEBI from time to time) from the date of closure of the relevant
accounting year (i.e. 31st March each year) and link for the same will be displayed
prominently on the website of the Mutual Fund (www.invescomutualfund.com).

In case of Unit holders whose e-mail addresses are registered with the Mutual Fund,
the AMC shall e-mail the annual report or an abridged summary to such unit
holders.

The Unitholders whose e-mail addresses are not registered with the Mutual Fund
will have an option to opt-in to continue receiving physical copy of the scheme wise
annual report or an abridged summary thereof.

Mutual Fund / AMC shall publish an advertisement in the all India edition of at least
two daily newspapers, one each in English and Hindi, every year disclosing the
hosting of the scheme wise annual report on the website of the Mutual Fund
(www.invescomutualfund.com) and on the website of AMFI (www.amfiindia.com).

Physical copies of Full annual report / abridged summary thereof shall also be
available for inspection at all times at the Head Office of the Mutual Fund at 2101-
A, 21st Floor, Marathon Futurex, N. M. Joshi Marg, Lower Parel, Mumbai - 400013.

The Unitholder may request for physical or electronic copy of annual report or
abridged summary thereof by writing to the AMC at the e-mail address
[email protected] or calling the AMC on or on 1800-209-0007 (Toll Free)
or by submitting the request letter to any of the Investor Services Centre of Invesco
Mutual Fund or of KFin Technologies Private Limited. The physical copy of annual
report and abridged summary of annual report will be provided without charging any
cost.
Associate Transactions Please refer to Statement of Additional Information (SAI).
Taxation
Resident Investor Mutual Fund
The information is provided Tax on IDCW*
for general information only. Equity oriented As per respective slab rate or corporate
However, in view of the Nil
Schemes tax rate applicable to the investor
individual nature of the Capital Gains*
implications, each investor is Long Term (holding Gains<= INR 1 Lakh - Nil Nil
advised to consult his or her period more than 12 Gains > INR 1 Lakh – 10% without
own tax advisors/authorised months) indexation
dealers with respect to the Short Term (holding Nil
specific amount of tax and 15% without indexation
period up to 12 months)
other implications arising out * plus applicable surcharge and Health & Education cess
of his or her participation in
the schemes. Notes:

1. Invesco Mutual Fund is a Mutual Fund registered with Securities and

Exchange Board of India (SEBI) and hence the entire income of the Mutual
Fund will be exempt from income tax in accordance with the provisions of
Section 10 (23D) of the Income-tax Act, 1961;
2. Income distribution in form IDCW, if any, made by the Mutual Fund, is
taxable in the hands of the unit holder. The rate of tax will be as per the
applicable slab rate for individuals / HUFs and as per the applicable
Corporate Tax rate for Companies. The tax liability in the hands of the
investor would be further increased by applicable surcharge (not exceeding

79 Invesco India Contra Fund

 15%) and Health and Education cess @4%.
3. Income Distribution in form of IDCW in excess of INR 5,000 per annum
would be subject to TDS @10% for resident investors and @20% for non-
resident investors.
4. Transactions in equity shares of companies, derivatives, units of an Equity
Oriented Mutual Fund or units of a business trust entered into on a
recognized stock exchange or sale of unlisted equity shares under an initial
offer for sale to the public attracts Securities Transaction Tax (‘STT’). In
relevant cases, the Fund has to bear the STT. The applicable rates are given
below:

Sr. STT Payable by

Taxable Securities Transaction
No. rate
A Purchase / sale of equity shares (delivery 0.1% Purchaser /
based) or a units of business trust. Seller
B Sale of units of an Equity Oriented Mutual 0.001% Seller
Fund (delivery based)
C Sale of equity shares, units of business 0.025% Seller
trusts, units of an Equity Oriented Mutual
Fund (non-delivery based)
D Sale of unit of an Equity Oriented Fund to 0.001% Seller
the Mutual Fund
E Purchase of unit of an Equity Oriented NIL NA
Fund to the Mutual Fund

For further details on taxation, please refer Statement of Additional Information.

Investor services Investor may contact the AMC for any investor assistance and complaint resolution
by making a call on our no.: 1800 209 0007 (toll-free) or by sending fax at Fax no.:
+91-022-2301 9422 or emailing us at : [email protected]. Investors can also
post their grievances/ feedback/ suggestions on our website
www.invescomutualfund.com.

Investor can also address their queries and complaints to Mr. Surinder Singh Negi –
Director & Head - Operations and Customer Services. His contact details are as
follows:

Invesco Asset Management (India) Pvt. Ltd.

2101-A, A Wing, 21st Floor,
Marathon Futurex, N. M. Joshi Marg,
Lower Parel, Mumbai - 400 013
Tel: +91 22 67310000. Fax: +91 22 23019422
E-mail: [email protected]

Investors can visit our Investor Service Centres (ISCs) at nearest location. The list of
ISCs is available on our website www.invescomutualfund.com.

Investor may also approach the Compliance Officer / CEO of the AMC. The details
including, inter-alia, name & address of Compliance Officer & CEO, their e-mail
addresses and telephone numbers are displayed at each offices of the AMC.

The AMC will follow up with the ISCs and Registrar and Transfer Agents to ensure
timely redressal and prompt investor services.

Investors can send their communications and requests to KFin Technologies Private
Limited,
Registrar & Transfer Agents at following contacts:
KFin Technologies Private Limited
Karvy Selenium Tower B, Plot No 31 & 32,
Gachibowli, Financial District,
Nanakramguda, Serilingampally,

80 Invesco India Contra Fund

Hyderabad- 500 032
Tel No: (040) 33215121/ (040) 33215123
E-mail: [email protected]

81 Invesco India Contra Fund

D. COMPUTATION OF NAV

The Net Asset Value (NAV) per Unit under the Scheme will be computed by dividing the net assets of
the Scheme by the number of Units outstanding on the valuation day. The Mutual Fund will value its
investments according to the Principle of fair valuation as specified in Schedule VIII of the SEBI (MF)
Regulations, or such norms as may be specified by SEBI from time to time.

The NAV of Units under the Scheme shall be calculated by either of the following methods shown
below:

Market or fair value of the Schemes investments

+ Current Assets including Accrued Income -Current Liabilities and
NAV (Rs.) = Provisions
No. of Units outstanding under the Scheme

Or
Unit Capital + Reserves and Surplus
NAV (Rs.) = No. of Units outstanding under the Scheme on the Valuation Day

The NAV shall be calculated up to two decimal places. However, the AMC reserves the right to declare
the NAVs up to additional decimal places as it deems appropriate. Direct Plan under the Scheme will
have separate NAVs. Further, separate NAV will be calculated and disclosed for each option.

The AMC will calculate the NAV on daily basis. The valuation of the Scheme’s assets and calculation of
the Scheme’s NAV shall be subject to audit on an annual basis and such regulations as may be prescribed
by SEBI from time to time.

82 Invesco India Contra Fund

IV. FEES AND EXPENSES

This section outlines the expenses that will be charged to the Scheme. The information provided under
this section seeks to assist the investor in understanding the expense structure of the Scheme and types of
different fees / expenses and their percentage that the investor is likely to incur on purchasing and selling
the Units of the Scheme.

A. NEW FUND OFFER (NFO) EXPENSES

These expenses are incurred for the purpose of various activities related to the NFO like sales and
distribution fees paid, marketing and advertising, registrar expenses, printing and stationery, bank
charges etc.

As per SEBI Regulations, initial issue expenses were not charged to the Scheme.

B. ANNUAL SCHEME RECURRING EXPENSES

These are the fees and expenses for operating the Scheme. These expenses include investment
management and advisory fee charged by the AMC, Registrar and Transfer Agents’ fee, marketing and
selling costs etc. as given in the table below:

The AMC has estimated that upto 2.25% of the daily net assets of the Scheme will be charged to the
Scheme as expenses. For the actual current expenses being charged, the investor should refer to the
website of the Fund.

% of daily Net
Expense Head Assets*
(Estimated p.a.)
Investment Management & Advisory Fee
Trustee fee
Audit Fees
Custodian Fees
Registrar & Transfer Agent Fees
Marketing & Selling Expenses including Agents Commission** Upto 2.25
Costs related to investor communications
Costs of fund transfer from location to location
Cost of providing account statements / IDCW/ redemption cheques/ warrants
Cost of Statutory Advertisements
Cost towards investor education & awareness (at least 2 bps)
Brokerage & transaction cost over and above 12 bps and 5 bps for cash and derivative
market trades respectively
Goods & Services Tax on expenses other than investment and advisory fees***
Goods & Services Tax on brokerage and transaction cost
Maximum Total expenses ratio (TER) permissible under Regulation 52 (6) (c)(i) Upto 2.25
Additional expenses under Regulations 52(6A)(c)# Upto 0.05
Additional expenses for gross new inflows from specified cities Upto 0.30

#these expenses will not be charged if exit load is not levied / not applicable to the Scheme.

* 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 Existing
Plan. Commission and distribution expenses will not be charged to the Direct Plan. Further, Direct Plan
under the scheme will have a separate NAV.

** For payment of Agents Commission, MF / AMC shall adopt full trail model of commission without
payment of any upfront commission or upfronting of any trail commission, directly or indirectly, in cash
or kind, through sponsorships, or any other route. However, upfronting of trail commission will be
allowed for inflows through Systematic Investment Plans (SIPs) from new investors, up to 1% payable
yearly in advance, for a maximum period of three years subject to guidelines provided by SEBI, as
amended from time to time. The upfront trail commission shall be paid from the books of the AMC and
amortized on daily basis to the Scheme over the period for which the payment has been made.

83 Invesco India Contra Fund

*** Goods & Services Tax on investment and advisory fees will be in addition to maximum limit as
mentioned above.

The expenses to the Scheme can be charged as Investment Management and Advisory Fees under
Regulation 52 (2) and the various sub-heads of recurring expenses mentioned under Regulation 52 (4) of
SEBI (MF) Regulations. Thus, there shall be no internal sub-limits within the expense ratio for expense
heads mentioned under Regulation 52 (2) and (4) respectively. Further, the additional expenses under
Regulation 52(6A)(c) may be incurred either towards investment & advisory fees and/or towards other
expense heads as stated above.

The purpose of the above table is to assist the investor in understanding various costs and expenses that
an investor in the Scheme will bear directly or indirectly. These estimates have been made in good faith
as per the information available with AMC based on past experience and are subject to change inter-se.
The total recurring expenses that can be charged to the Scheme will be subject to limits prescribed from
time to time under the SEBI (MF) Regulations.

Annual recurring expenses of the Scheme, (including the investment and advisory fees without any sub-
limit) as a % of daily net assets will be subject to following limit:

First Rs. Next Rs. Next Rs. Next Rs. Next Rs. Next Rs. 40,000 Balance
500 250 1,250 3,000 5,000 Crores Crores
Crores Crores Crores Crores
2.25% 2.00% 1.75% 1.60% 1.50% TER reduction of 1.05%
0.05% for every
increase of Rs.
5,000 crores or part
thereof

In addition to TER within the limits specified under regulation 52 (6) of the Regulations, the AMC may
charge expenses not exceeding 0.05% of daily net assets of the scheme as permitted under Regulation 52
(6A) (c), towards investment & advisory fees as specified under regulation 52(2) of the Regulations
and/or towards recurring expenses as specified under 52(4) of the Regulations. However, such
additional expenses will not be charged if exit load is not levied / not applicable to the Scheme.

Additional Distribution Expenses in case of new inflows from specified cities

In addition to total expenses ratio (TER) as specified above, the AMC will charge expenses not
exceeding 0.30% of daily net assets if the new inflows in the scheme from such cities, as specified by
SEBI from time to time, are at least:
(i) 30% of gross new inflows in the scheme, or;
(ii) 15% of the average assets under management (year to date) of the scheme,

whichever is higher.

In case, inflows from such cities is less than the higher of (i) or (ii) of above, such expenses on daily net
assets of scheme will be charged on proportionate basis in accordance with SEBI Circular vide reference
no. CIR/IMD/DF/21/2012 dated September 13, 2012.

The additional expenses on account of inflows from such cities charged will be credited back to the
scheme in case the said inflows are redeemed within a period of one year from the date of investment.

The additional expenses charged in case of inflows from such cities will be utilized for distribution
expenses incurred for bringing inflows from such cities.

The additional TER in terms of Regulation 52(6A)(b) of SEBI (Mutual Funds) Regulations, 1996 shall
be charged upto 30 basis points on daily net assets of the scheme based on inflows only from retail
investors beyond Top 30 cities (B 30 cities). Inflows of amount upto Rs. 2,00,000 per transaction by
individual investors shall be considered as inflows from retail investors. Top 30 cities shall mean top 30
cities based on Association of Mutual Funds in India (AMFI) data on ‘AUM by Geography –
Consolidated Data for Mutual Fund Industry’ as at the end of the previous financial year. .

84 Invesco India Contra Fund

The additional commission for B 30 cities shall be paid as trail only.

Brokerage and Transaction Cost

In addition to limits specified in regulation 52 (6) of the Regulations, brokerage and transaction costs
incurred for the purpose of execution of trade not exceeding 0.12% of value of trade in case of cash
market transaction and 0.05% of value of trade in case of derivative transactions (inclusive of Goods &
Services Tax) will be capitalised.

Any payment towards brokerage and transaction cost for execution of trade, over and above the said limit
of 0.12% for cash market transactions and 0.05% for derivatives transactions may be charged to the
scheme within the maximum limit of TER as prescribed under regulation 52 of the Regulations.

The total expenses of the Scheme including the Investment Management and Advisory Fee shall not
exceed the limits stated in Regulation 52 of the SEBI (MF) Regulations.

All Scheme related expenses including commission paid to distributors, by whatever name it may be
called and in whatever manner it may be paid, shall necessarily be paid from the Scheme only within the
regulatory limits and not from the books of the AMC, its Associate, Sponsor, Trustee or any other entity
through any route. However, expenses that are very small in value but high in volume may be paid out of
AMC’s books at actuals or not exceeding 2 bps of respective Scheme AUM, whichever is lower. A list of
such miscellaneous expenses will be as provided by AMFI in consultation with SEBI.

The Fund will update the current expense ratios on its website atleast three working days prior to the
effective date of the change. The investors can refer to https://www.invescomutualfund.com/about-
us?tab=Statutory for Total Expense Ratio (TER) details.

Additionally, the Fund will disclose the Total Expense Ratio (TER) of the Scheme on daily basis on the
website of AMFI (www.amfiindia.com).

Further, any change in the base TER (i.e. TER excluding additional expenses provided in Regulation 52
(6A) (b) and 52 (6A) (c) of SEBI (Mutual Funds) Regulations, 1996 and Goods & Services Tax on
investment and advisory fees) in comparison to previous base TER charged to the Scheme / Plan shall be
communicated to investors of the Scheme / Plan through notice via email or SMS and will be uploaded
on the website (https://www.invescomutualfund.com/about-us?tab=Statutory) at least three working days
prior to effecting such change.

C. LOAD STRUCTURE

Load is an amount which is paid by the investor to subscribe to the Units or to redeem the Units from the
Scheme. Load amounts are variable and are subject to change from time to time. For the current
applicable structure, please refer to the website of the AMC (www.invescomutualfund.com) or you may
call at 1800 209 0007 (toll-free) / +91-22-6731 0000 or you can contact your distributor.

For Lump sum Purchases and investments through Systematic Investment Plan (SIP), Systematic
Transfer Plan (STP) and IDCW Transfer Plan:

Entry Nil
Load
In terms of SEBI Circular No. SEBI/IMD/CIR No. 4/168230/09 dated June 30, 2009, no entry
load will be charged on purchase / additional purchase / switch-in.

The upfront commission, if any, on investment made by the investor shall be paid by the
investor directly to the Distributor, based on his assessment of various factors including the
service rendered by the Distributor.
Exit For each purchase of units through Lumpsum / switch-in / Systematic Investment Plan (SIP) and
Load^ Systematic Transfer Plan (STP), exit load will be as follows:
 if units are redeemed/switched out within 1 year from the date of allotment:
• if upto 10% of units allotted are redeemed/switched out - Nil
• any redemption / switch-out of units in excess of 10% of units allotted - 1%.

85 Invesco India Contra Fund

  if units are redeemed/switched out after 1 year from the date of allotment, no exit load
is payable.

In case of each purchases of units through IDCW Transfer Plan:

• an exit load of 1% is payable if units are redeemed/ switched-out on or before 1

year from the date of allotment.
• no exit load is payable if units are redeemed/ switched-out after 1 year from the
date of allotment.

 Switch between the Plans under the Scheme: Nil

• No Entry/Exit Load will be levied on Units issued on IDCW reinvested.

• No Entry/Exit Load will be levied on Units issued as bonus units.
• A switch-out or a withdrawal under SWP may also attract an Exit Load like any Redemption.

Load Structure in the Transferee Scheme (target scheme) prevailing at the time of submission of STP
application (whether for fresh enrolment or extension) will be applicable for all the investments through
STP specified in the SID of the Scheme.

^Exit Load charged, if any, will be credited back to the Scheme, net of Goods & Services Tax.

The investor is requested to check the prevailing load structure of the Scheme before investing. Investors
may refer to the current applicable Load structure by referring to the SID on the AMC website or by
calling at 1800 209 0007 (toll-free) / +91-22-6731 0000.

For any change in Load structure, the AMC will issue an addendum and display it on the AMC
Website/Investor Service Centres.

Under the Scheme, the AMC reserves the right to change / modify the Load structure if it so deems fit in
the interest of smooth and efficient functioning of the Mutual Fund. The AMC reserves the right to
introduce / modify the Load depending upon the circumstances prevailing at that time subject to
maximum limits as prescribed under the SEBI Regulations. The Load may also be changed from time to
time.

However, the Mutual Fund will ensure that the Redemption / Repurchase Price shall not be lower than
95% of the Applicable NAV.

Any imposition or enhancement of Load in future shall be applicable on prospective investments only. At
the time of changing the Load Structure:

1. The addendum detailing the changes will be attached to SID and Key Information
Memorandum. The addendum may be circulated to all the distributors / brokers so that the same
can be attached to all Scheme Information Documents and Key Information Memorandum
already in stock.
2. The addendum will be displayed on the website of the Fund and arrangements will be made to
display the addendum in the form of a notice in all the Investor Service Centres and distributors
/ brokers office.
3. The introduction of the exit load along with the details will be stamped in the acknowledgement
slip issued to the investors on submission of the application form and will also be disclosed in
the accounts statement issued after the introduction of such load.
4. A public notice shall be given in respect of such changes in one English daily newspaper having
nationwide circulation as well as in a newspaper published in the language of region where the
Head Office of the Mutual Fund is situated.
5. Any other measure which the Mutual Fund may consider necessary.

D. WAIVER OF LOAD FOR DIRECT APPLICATIONS

Not Applicable

86 Invesco India Contra Fund

E. TRANSACTION CHARGES

In terms of SEBI circular no. IMD/ DF/ 13/ 2011 dated August 22, 2011, a transaction charge, as follows,
is payable to distributors who have opted to receive transaction charge*:

i. For existing investor in a Mutual Fund: `100/- per subscription of `10,000/- and above;
ii. For first time investor in Mutual Funds: `150/- per subscription of `10,000/- and above.

*Distributors shall also have the option to either opt in or opt out of levying transaction charge based on
type of the product.

In case of investment through systematic investment plan (SIPs), the transaction charge shall be
applicable only if the total commitment through SIP (i.e. amount of each SIP installment X total number
of SIP installments) amounts to ` 10,000/- and above. In such cases, the transaction charge shall be
recovered in 3-4 installments, as may be decided by the AMC

However, there will be no transaction charge on:

i. Subscription of less than ` 10,000/-; or
ii. Transactions other than purchases / subscriptions relating to new inflows; or
iii. Direct subscription (subscription not routed through distributor); or
iv. Subscription routed through distributor who has chosen to ‘Opt-out’ of charging of transaction
charge; or
v. Transaction routed through Stock Exchange(s).

The transaction charge, if any, will be deducted by AMC from subscription amount and shall be paid to
distributor. The balance subscription amount, after deducting applicable transaction charges, will be
invested.

It is clarified that upfront commission to distributor will continue to be paid by the investor directly to
distributor by a separate cheque.

Calculation of transaction charge and balance subscription amount in case of subscription routed through
distributor is explained as follows:
(In INR)
For existing investors in a Mutual Fund For first time investor in Mutual Funds
Subscription
Transaction Balance Subscription Transaction Balance Subscription
Amount (A)
charge (B) Amount (A-B) charge (C) Amount (A-C)
10,000 100 9,900 150 9,850
9,999 Nil 9,999 Nil 9,999
10,00,000 100 9,99,900 150 9,99,850

Note: Balance subscription amount will be invested and Units will be allotted at applicable NAV per unit
for the balance subscription amount on an on-going basis.

F. STAMP DUTY

Pursuant to Part I of Chapter IV of Notification dated February 21, 2019 issued by Legislative
Department, Ministry of Law and Justice, Government of India on the Finance Act, 2019 read with
subsequent Notification No. S.O. 1226 (E) and G.S.R. 226(E) dated March 30, 2020 issued by
Department of Revenue, Ministry of Finance, Government of India, a stamp duty @ 0.005% of the
Transaction Value will be levied on applicable mutual fund transactions i.e. purchases (including switch-
in, IDCW reinvestment etc.). Accordingly, pursuant to levy of stamp duty, the number of units allotted
on purchase, switch-in, installment of Systematic Investment Plan, Systematic Transfer Plan and
reinvestment of IDCW to the unitholders will be lower to that extent. The stamp duty will be arrived at
using inclusive method of calculation. For applying stamp duty, Transaction Value will be calculated
after deducting transaction charges and such other charges as may be applicable from time to time. The
calculation of stamp duty is explained as follows:

87 Invesco India Contra Fund

If an investor subscribes units for Rs.1,00,000/- through a distributor and transaction charges payable to
distributor are Rs.100/-, then stamp duty will be calculated as follows:

Transaction Value = Subscription Amount - Transaction Charges (i.e. 1,00,000-100) = 99,900/-

Stamp Duty = (Transaction Value / 100.005) * 0.005

= (99,900/100.005) * 0.005
= 4.99

Accordingly, the amount of stamp duty of Rs. 4.99 will be deducted from the transaction value and for
the balance amount, units will be allotted at applicable NAV.

V. RIGHTS OF UNIT HOLDERS

Please refer to Statement of Additional Information for details.

VI. PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF

INSPECTIONS OR INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN
TAKEN OR IS IN THE PROCESS OF BEING TAKEN BY ANY REGULATORY
AUTHORITY

This section shall contain the details of penalties, pending litigation, and action taken by SEBI
and other regulatory and Govt. Agencies.

1. All disclosures regarding penalties and action(s) taken against foreign Sponsor(s) may be
limited to the jurisdiction of the country where the principal activities (in terms of income
/ revenue) of the Sponsor(s) are carried out or where the headquarters of the Sponsor(s) is
situated. Further, only top 10 monetary penalties during the last three years shall be
disclosed.

Nil

2. In case of Indian Sponsor(s), details of all monetary penalties imposed and/ or action taken
during the last three years or pending with any financial regulatory body or governmental
authority, against Sponsor(s) and/ or the AMC and/ or the Board of Trustees /Trustee
Company; for irregularities or for violations in the financial services sector, or for defaults
with respect to shareholders or debenture holders and depositors, or for economic
offences, or for violation of securities law. Details of settlement, if any, arrived at with the
aforesaid authorities during the last three years shall also be disclosed.

Nil

3. Details of all enforcement actions taken by SEBI in the last three years and/ or pending
with SEBI for the violation of SEBI Act, 1992 and Rules and Regulations framed there
under including debarment and/ or suspension and/ or cancellation and/ or imposition of
monetary penalty/adjudication/enquiry proceedings, if any, to which the Sponsor(s) and/
or the AMC and/ or the Board of Trustees /Trustee Company and/ or any of the directors
and/ or key personnel (especially the fund managers) of the AMC and Trustee Company
were/ are a party. The details of the violation shall also be disclosed.

Nil

4. Any pending material civil or criminal litigation incidental to the business of the Mutual
Fund to which the Sponsor(s) and/ or the AMC and/ or the Board of Trustees /Trustee
Company and/ or any of the directors and/ or key personnel are a party should also be
disclosed separately.

Invesco Asset Management (India) Private Limited in its capacity as the Investment Manager
for Invesco India Credit Risk Fund, which had invested in 150 secured Non-Convertible
Debentures (“NCDs”) of face value of Rs. 10,00,000.00 each issued by Sintex Industries

88 Invesco India Contra Fund

 Limited (‘Sintex’), filed a petition against Sintex before the Hon’ble Adjudicating Authority,
National Company Law Tribunal, Ahmedabad Bench (“Adjudicating authority”) under
section 7 of the Insolvency and Bankruptcy Code, 2016 (“Code”) read with Rule 4 of the
Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking reliefs
under Section 7(5) and Section 13(1)(a)(b)(c) of the Code as Sintex defaulted on payment of
principal & interest. The Hon’ble Adjudicating Authority has admitted the petition vide its order
dated April 06, 2021.

5. Any deficiency in the systems and operations of the Sponsor(s) and/ or the AMC and/ or
the Board of Trustees/Trustee Company which SEBI has specifically advised to be
disclosed in the SID, or which has been notified by any other regulatory agency, shall be
disclosed.

Nil

Notes:
1. Any amendments / replacement / re-enactment of SEBI (MF) Regulations subsequent to the date
of the Scheme Information Document shall prevail over those specified in this Scheme
Information Document.
2. The Scheme under this Scheme Information Document was approved by the Trustee at its Board
meeting held on July 27, 2006.
3. The Scheme Information Document is an updated version of the same in line with the current
laws / regulations and other developments.
4. Notwithstanding anything contained in this Scheme Information Document, the provisions
of the SEBI (Mutual Funds) Regulations, 1996 and the guidelines there under shall be
applicable.

For and on behalf of the Board of Directors of

Invesco Asset Management (India) Pvt. Ltd.
(Investment Manager to Invesco Mutual Fund)

Sd/-
Place: Mumbai Saurabh Nanavati
Dated: October 30, 2021 Chief Executive Officer

89 Invesco India Contra Fund

A. OFFICIAL POINTS OF ACCEPTANCE OF TRANSACTION
INVESCO ASSET MANAGEMENT (INDIA) PRIVATE LIMITED - Ongoing basis
 Ahmedabad: 303/A, Raindroop Building, C. G. Road, Ahmedabad - 380 006. Tel. No.: 079 –66521550.  Bengaluru: Building, Acharya Jagdish Chandra Bose Road, Kolkata - 700 020. Tel : 033-40639115. Lucknow: 304, 3rd Floor,
S-317, 319 & 321, 3rd Floor, South Block, Manipal Centre, 47, Dickenson Road, Bangalore - 560042. Tel No.: 080 – SKY HI Chamber, Park Road, Hazratganj, Lucknow - 226 001, U.P Tel No - 0522-4000841/4000149.  Ludhiana: Room
42941000.  Chandigarh: S.C.O. 2471 - 72, 2nd Floor,Sector 22C, Himalaya Marg, Chandigarh - 160 022. Tel. No.: No. 604, 6th Floor, SCO - 18, Feroze Gandhi Market, Ludhiana - 141 001. Tel. No.: 09041002258.  Mumbai ( H.O.):
0769 - 6001369.  Chennai: Door#2, 2nd Floor, Sun Plaza, #39 G.N.Chetty Road, Near Kamarajar Arangam, Chennai 2101-A, A Wing, 21st Floor, Marathon Futurex, N.M. Joshi Marg, Lower Parel, Mumbai - 400013. Tel. No. 022 67310000
– 600006. Tel. No. 9043000628.  Delhi: 710, 711 & 712 Prakashdeep Building, 7th Floor, Tolstoy Marg, NewDelhi  Panaji: Advani Business Centre Office No. CU2, Neelkamal Arcade, Atmaram Borkar Road, Above Federal Bank,
- 110001. Tel. No.: 011 43789000.  Hyderabad: 2nd Floor, S.B. Towers, H.No.6-3-354, Road No.1, Banjara Hills, Panaji - 403 001. Tel No:0832-6650402.  Patna: No. 304, Hariniwas Complex, Dak Banglow Road, Patna - 800001.
Landmark: Punjagutta X Road, Beside Himalaya Book Store, Hyderabad-500034. Tel. No.: 9030015457.  Indore: Tel. No.: 09264457840.  Pune: Shop No. 11, B Wing, Shreenath Plaza, FC Road, Dyaneshwar Paduka Chowk, Pune
Room No. 216, 2nd Floor, Starlit Tower, Y. N. Road, Indore -452 001. Tel. No.: 7415000281.  Jaipur: 204, 2nd Floor, - 411 005. Tel No.: 020 – 41291015.  Vadodara: Upper Ground Floor No -06, Concard Complex, Above Deepak
‘Brij Anukampa’ Ashok Marg, C-Scheme, Jaipur - 302 001. Tel. No.: 07737000761.  Kanpur: 1st Floor, KAN Chambers, Garments, Near Kabir Kitchen Restaurant, Alkapuri Vadodara - 390007. Tel. No.: 0265 - 2338446.
14/113 Civil Lines, Kanpur - 208 001. Tel. No.: 9044051658.  Kolkata: Room No. 7E, 235/2A, 7th Floor, Millennium
B. LIST OF INVESTOR SERVICE CENTRES OF KFIN TECHNOLOGIES PVT. LTD., REGISTRAR & TRANSFER AGENTS OF INVESCO MUTUAL FUND (ONGOING BASIS) THESE WILL BE
IN ADDITION TO THE EXISTING OFFICIAL POINTS OF ACCEPTANCE OF INVESCO ASSET MANAGEMENT (INDIA) PRIVATE LIMITED
 Agartala: OLS, RMS Chowmuhani, Mantri Bari Road, 1st Floor Near, Traffic Point, Tripura West, Agartala - 799 001. Tel. Mankammathota, KarimNagar, Telangana, Andhra Pradesh - 505001. Tel. No.: 0878-2244773  Karnal 18/369, Char
No.: 0381-2317519  Agra House No. 17/2/4, 2nd Floor, Deepak Wasan Plaza, Behind Hotel Holiday INN, Sanjay Place, Agra, Chaman, Kunjpura Road, Behind Miglani Hospital, Karnal - 132001. Tel. No.: 0184 2252524
Uttar Pradesh - 282 002. Tel No.: 7518801801  Ahmedabad O ffice No. 401, 4th Floor, ABC-I, Off. C.G. Road, Navrangpura,  Karur No 88/11, BB plaza, NRMP street, NRMP street, K S Mess Back side, Karur - 639 002. Tel No.: 04324-241755
Ahmedabad, Gujarat - 380006. Tel. No.: 9081903021  Ajmer 302, 3rd Floor, Ajmer Auto Building, Opposite City Power  Kharagpur SBI Building, Malancha Road, Holding No 254/220, Ward No.16, PO Kharagpur, PS - Kharagpur, Dist -
House, Jaipur Road, Ajmer - 305001. Tel. No.: 0145 5120725  Akola Yamuna Tarang Complex, Shop No 30, Ground Floor, Paschim Medinipur, West Bengal, Kharagpur - 721 301. Tel No.: 3222253380  Kolhapur 605/1/4 E Ward, Shahupuri 2nd
N.H. No- 06, Murtizapur Road, Opp Radhakrishna Talkies, Akola - 444004. Tel. No.: 0724 2451874  Aligarh SEBTI Complex Lane, Laxmi Niwas, Near Sultane Chambers, Kolhapur - 416001. Tel. No.: 0231 2653656  Kolkata Apeejay House (Beside
Centre Point, in the city of Aligarh, Uttar Pradesh, Aligarh - 202 001. Tel No.:7518801802  Allahabad “Meena Bazar” 2nd Park Hotel), 15 Park Street, C Block, 3rd Floor, Kolkata - 700016. Tel. No.: 033 66285900  Kollam Ground Floora
Floor, 10 S.P. Marg Civil Lines, Subhash Chauraha, Prayagraj, Uttar Pradesh - 211 001. Tel No.:- 7518801803  Alwar Office Narayanan, Shopping Complex, Kausthubhsree Block, Kadapakada Kollam - 691 008. Tel No.: 0474-2747055  Kota D-8,
Number 137, First Floor, Jai Complex Road No – 2, Alwar, Rajasthan - 301001. Tel. No.: 0144-2335550 / 0144-2335551 Shri Ram Complex, Opposite Multi Purpose School, Gumanpur, Kota - 324 007. Tel No.: 0744-5100964  Kottayam 1st
 Ambala 6349, 2nd Floor, Nicholson Road, Adjacent Kos Hospital Ambala Cant. Ambala, Haryana, Ambala -133 001. Tel Floor Csiascension Square, Railway Station Road, Collectorate P O, Kottayam - 686002. Tel. No.: 0481 2300868  Kurnool
No.:7518801804  Amravati Shop No. 21, 2nd Floor, Gulshan Tower, Near Panchsheel Talkies, Jaistambh Square, Amravati Shop No:47, 2nd Floor, S komda Shoping mall, Kurnool - 518 001. Tel No.: 08518-228550  Lucknow Ist Floor, A. A.
- 444601. Tel. No.: 0721 2569198  Amritsar SCO 5, 2nd Floor, District Shopping Complex, Ranjit Avenue, Amritsar - 143 Complex, Thaper House, 5 Park Road, Hazratganj, Lucknow - 226001. Tel. No.: 7518801830  Ludhiana Sco - 122, 2nd
001. Tel No.: 0183-5158158  Anand B-42 Vaibhav Commercial Center, Nr Tvs Down Town Shrow Room, Grid Char Rasta, Floor, Above HDFC MF, Feroze Gandhi Market, Ludhiana, Punjab, Ludhiana - 141 001. Tel No.: 0161-4670278  Madurai No.
Anand - 380001. Tel. No.: 9662020623  Ananthapur Plot No: 12-313, Balaji Towers, Suryanagar, Ananthapur Village, G-16/17, AR Plaza, 1st floor, North Veli Street, Madurai - 625 001. Tel No.:- 0452-2605856  Malda Ram Krishna Pally,
Ananthapur Dist, Andhra Pradesh, Ananthapur - 515 001. Tel No.: 8554244449  Asansol 112/N, G. T. Road, Bhanga Pachil, Ground Floor, English Bazar, Malda, West Bengal, Malda - 732 101. Tel no.:03512-223763  Mandi House No. 99/11, 3rd
G.T. Road, Paschim Bardhaman, West Bengal - Asansol - 713303. Tel. No.: 0341-2220077  Aurangabad Ramkunj Niwas, Floor, Opposite GSS Boy School, School Bazar, in the city of Mandi, Himachal Pradesh, Mandi - 175 001. Tel No.:7518801833
Railway Station Road, Near Osmanpura Circle, Aurangabad - 431005. Tel. No.: 0240 2343414  Azamgarh House No. 290,  Mangalore Mahendra Arcade Opp. Court Road, Karangal Padi, Mangalore - 575003. Tel. No.: 0824 2496289
Ground Floor, Civil lines, Near Sahara Office, in the city of Azamgarh, Uttar Pradesh, Azamgarh - 276 001. Tel  Margoa 2nd Floor, Dalal Commercial Complex,Opp. Hari Mandir, Pajifond, Margao - 403601. Tel. No.: 0832 2731823
No.:7518801805  Balasore 1-B. 1st Floor, Kalinga Hotel Lane, Baleshwar, Baleshwar Sadar, Orissa, Balasore - 756 001. Tel  Mathura Shop No. 9, Ground Floor, Vihari Lal Plaza, Opposite Brijwasi Centrum, Near New Bus Stand, in the city of
No.:06782-2605033  Bangalore No 35, Puttanna Road, Basavanagudi, Bangalore - 560 004. Tel No.: 080-26602852 Mathura,Uttar Pradesh, Mathura - 281 001. Tel No.:7518801834  Meerut H No 5, Purva Eran, Opp. Syndicate Bank, Hapur
 Bankura Plot nos. 80/1/A, Natunchati Mahalla, 3rd floor, Ward no-24, Opposite P.C Chandra, Bankura Town, Bankura - Road, Meerut, Uttar Pradesh, Meerut - 250 001. Tel No.:7518801835  Mehsana FF-21, Someshwar Shopping Mall,
722101. Tel. No.: 9434480586  Bareilly 54 - Civil Lines, Ayub Khan Chauraha Bareilly, Uttar Pradesh - 243001. Tel. No.: Modhera Char Rasta, Mehsana - 384002. Tel. No.: 02762-242950  Mirzapur Ground Floor, Triveni Campus, Ratan Ganj,
7518801806  Baroda 203, Corner Point, Jetalpur Road, Baroda - 390007. Tel. No.: 0265 2353506  Begusarai C/o Dr Mirzapur - 231 001. Tel No.: 7518801836  Moga 1st Floor, Dutt Road, Mandir Wali Gali, Civil Lines, Barat Ghar, Moga -
Hazari Prasad Sahu, Ward No 13, Behind Alka Cinema, Begusarai, Bihar, Bihar - 851 117. Tel No.: 7518801807  Belgaum 142001. Tel. No.: 01636 230792  Moradabad Chadha Complex, G. M. D. Road, Near Tadi Khana, Chowk, in the city of
Premises No 101 CTS NO 1893, Shree Guru Darshani Tower, Anandwadi, Hindwadi, Belgaum - 590 011. Tel No.:- 0831- Moradabad, Uttar Pradesh, Moradabad - 244 001. Tel No.:7518801837  Morena House No. HIG 959, Near Court, Front of
4213717  Bellary Shree Gayathri Towers, No. 4, 1st floor, K.H.B. Colony, Gopalswamy Mudaliar Road, Gandhi Nagar, Bellary Dr. Lal Lab, Old Housing Board Colony, Morena, Madhya Pradesh, Morena - 476 001. Tel No.:7518801838  Mumbai
- 583103. Tel. No.: 0839 - 2254750  Berhampur (Or) Opp. Divya Nandan Kalyan Mandap, 3rd Lane Dharam Nagar,Near Gomati Smuti, Ground Floor, Jambli Gully, Near Railway Station, Borivali (West), Mumbai - 400 092. Tel. No.: 022
Lohiya Motor, Berhampur (Or), Orissa. Tel. No.: 0680-2228106  Bhagalpur 2nd Floor, Chandralok Complex, Ghantaghar, 28916319  Mumbai 24/B, Raja Bahadur Compound, Ambalal Doshi Marg, Behind Bse Bldg, Fort - 400001. Tel. No.: 022
Radha Rani Sinha Road, Bhagalpur - 812001. Tel. No.: 7518801808  Bharuch 123 Nexus business Hub, Near Gangotri Hotel, 66235353  Mumbai Shop No.1 Ground Floor, Dipti Jyothi Co-operative Housing Society, Near MTNL Office P M Road, Vile
B/s Rajeshwari Petroleum, Makampur Road, Bharuch - 392 001. Tel No.: 9081903042  Bhatinda 2nd Floor,, MCB -Z-3- Parle East, Mumbai - 400 056. Tel No.: (022) 26100967  Muzaffarpur 1st Floor Saroj Complex, Diwam Road, Near Kalyani
01043 Goniana Road Opposite Nippon India Mf, Gt Road, Near Hanuman Chowk, Bhatinda - 151 001. Tel No.:- 0164- Chowk, Muzaffarpur, Bihar, Muzaffarpur - 842 001. Tel No.:7518801839  Mysore No. 2924, 2nd Floor, 1st Main, 5th Cross
5006725  Bhavnagar 303, Sterling Point, Waghawadi Road, Bhavnagar – 364001. Tel. No.: 02783 003149  Bhilai Office Saraswathi Puram, Mysore - 570 009. Tel. No.: 0821-2438006  Nadiad 311-3rd Floor City Center, Near Paras Circle
No. 2, 1st Floor, Plot No. 9/6, Nehru Nagar [East], Bhilai, Chhattisgarh - 490 020. Tel. No.: 0788-2289499  Bhilwara Office Nadiad, State - Gujarat, Nadiad - 387 001. Tel No.: 2682563245  Nagerkoil 45, East Car Street, 1st Floor, Nagercoil -
No. 14 B, Prem Bhawan, Pur Road, Gandhi Nagar, Near Canara Bank, Bhilwara - 311 001. Tel No.:- 01482-244720  Bhopal 629001. Tel. No.: 04652 233552  Nagpur Plot No. 2, Block No. B / 1 & 2, Shree Apartment, Khare Town, Mata Mandir Road,
Gurukripa Plaza, Plot No. 48A, Opposite City Hospital, zone-2, M P Nagar, Bhopal - 462 011. Tel No.: 0755-4092712 Dharampeth, Nagpur Maharashtra - 440 010. Tel. No.: 0712-2533040  Nanded Shop No.4, Santakripa Market, G G Road,
 Bhubaneswar A/181, Back Side Of Shivam Honda Show Room, Saheed Nagar, Bhubaneswar - 751007. Tel. No.: 0674 Opp. Bank Of India, Nanded - 431601. Tel. No.: 02462 237885  Nasik S-9, Second Floor, Suyojit Sankul, Sharanpur Road,
2548981  Bikaner 70-71, 2nd Floor, Dr. Chahar Building , Panchsati Circle, Sadul Ganj, Bikaner - 334003. Tel. No.: 0151 Nasik - 422 002 Tel. No.: 0253-6608999  Navsari 103, 1st Floor, Landmark Mall Near Sayaji Library Navsari - 396445. Tel.
2200014  Bilaspur Anandam Plaza; Shop No.306, 3rd Floor, Vyapar Vihar Main Road, Bilaspur, Chhatisgarh, Bilaspur - 495 No.: 9081903040  New Delhi 305 New Delhi House, 27 Barakhamba Road, New Delhi - 110001. Tel. No.: 011 43681700
001. Tel No.: 07752-470070  Bokaro B-1, 1st Floor, City Centre, Sector- 4, Near Sona Chandi Jwellars, Bokaro - 827004. Tel.  Noida F - 21, Sector - 18, in the city of Noida, Noida, Uttar Pradesh, Noida - 201 301. Tel No.:7518801840  Palghat No:
No.: 7542979444  Burdwan Anima Bhavan 1st Floor, Holding No. 42, Sreepally G. T. Road, Burdwan - 713 103. Tel No.:- 20 & 21 , Metro Complex H.P.O.Road Palakkad, H.P.O.Road, Palakkad - 678001. Tel. No.: 9895968533  Panaji H. No: T-9,
0342-2665140  Calicut 2nd Floor, Manimuriyil Centre, Bank Road, Kasaba Village, Calicut, State: Kerala, Calicut - 673 001. T-10, Affran plaza, 3rd Floor, Near Don Bosco High School, Panjim - 403 001. Tel No.: 0832-2426874  Panipat 3rd Floor
Tel No.: 4954022480  Chandigarh 1st Floor, SCO 2469-70, Sec. 22-C, Chandigarh, Chandigarh - 160 022. Tel No.: 0172- Preet Tower, Behind Akash Institute, GT Road, Panipat, Haryana, Panipat - 132 103. Tel.No.: 7518801841  Pathankot 2nd
5101342  Chennai F-11, Akshaya Plaza, 1st Floor, 108, Adhithanar Salai, Egmore, Opp. Chief Metropolitan Court, Chennai Floor, Sahni Arcade Complex, Adj. Indra Colony Gate Railway Road, Pathankot - 145001. Tel. No.: 0186 5080188/
- 600002. Tel. No.: 044 42028512  Cochin Ali Arcade, 1st Floor, Kizhavana Road, Panampilly Nagar, Near Atlantis Junction, 9988164770  Patiala B- 17/423 Opp. Modi College, Lower Mall, Patiala - 147 001. Tel No.:- 0175-5004349  Patna 3A, 3rd
Cochin - 682036. Tel. No.: 0484 - 4025059  Coimbatore 3rd Floor, Jaya Enclave, 1057 Avinashi Road, Coimbatore - Floor Anand Tower, Exhibition Road, Opp. ICICI Bank, Patna - 800001. Tel. No.: 0612 4323066  Pondicherry No 122(10b),
641018. Tel. No.: 0422 4388011  Cuttack Shop No-45, 2nd Floor, Netaji Subas Bose Arcade, (Big Bazar Building) Adjacent Muthumariamman Koil Street, Pondicherry - 605 001. Tel No.: 0413-45490253  Pune Office # 207-210, 2nd Floor, Kamla
to, Reliance Trends, Dargha Bazar, Cuttack - 753 001. Tel No.: 0671-2203077  Darbhanga Jaya Complex, 2nd Floor, Above Arcade, JM Road. Opposite, Balgandharva, Shivaji Nagar, Pune - 411 005. Tel No.: 020-66210449  Raipur Office No S-13,
Furniture Planet, Donar Chowk, Darbhanga - 846003. Tel. No.: 7518801809  Davangere D. No 162/6, 1st Floor, 3rd Main, P Second Floor, Reheja Tower, Fafadih Chowk, Jail Road, Raipur (C.G.) - 492001. Tel. No.: 0771-4912611.  Rajahmundry D.
J Extension, Davangere taluk, Davangere Mandal, Karnataka, Davangere - 577 002. Tel No.: 0819-2258714  Dehradun No.6-1-4,Rangachary Street, T.Nagar, Near Axis Bank Street, Rajahmundry, Andhra Pradesh - 533101. Tel. No.: 0883-
Shop No-809/799 , Street No-2 A, Rajendra Nagar, Near Sheesha Lounge, Kaulagarh Road, Dehradun - 248 001. Tel. No.:- 2434468  Rajkot 302, Metro Plaza, Near Moti Tanki Chowky,Rajkot - 360001. Tel. No.: 9081903025  Ranchi Room No
7518801810  Deoria K. K. Plaza, Above Apurwa Sweets, Civil Lines Road, in the city of Deoria, Uttar Pradesh, Deoria - 274 307, 3rd Floor, Commerce Tower, Beside Mahabir Tower, Ranchi - 834001. Tel. No.: 0651 2331320  Rewa Shop No. 2,
001. Tel No.:7518801811  Dhanbad 208 New Market, 2nd Floor, Bank More, Dhanbad - 826001. Tel. No.: 9264445981 Shree Sai Anmol Complex, Ground Floor Opp Teerth Memorial Hospital, Rewa - 486 001. Tel No.: 7518801843  Rohtak
 Dhule Ground Floor, Ideal Laundry, Lane No 4, Khol Galli, Near Muthoot Finance, Opp. Bhavasar General Store, Dhule - Shop No 14, Ground Floor, Ashoka Plaza, Delhi Road, in the city of Rohtak, Haryana, Rohtak - 124 001. Tel No.:7518801844
424001. Tel. No.: 02562 282823  Durgapur MWAV-16, Bengal Ambuja, 2nd Floor, City Centre, Distt. Burdwan, Durgapur-16,  Roorkee Shree Ashadeep Complex, 16, Civil Lines, Near Income Tax Office, Roorkee - 247667. Tel. No.: 7518801845
Durgapur - 713216. Tel. No.: 0343 6512111  Eluru D.No. 23A-7-72/73, K K S Plaza, Munukutla Vari Street, Opp. Andhra  Rourkela 2nd Floor, Main Road Udit Nagar, Sundargarh, Rourekla - 769 012. Tel No.: 0661-2500005  Sagar 2nd floor,
Hospitals, R R Peta, West Godavari Dist., Eluru - 534 002. Tel. No.: 08812 227851  Erode Address No 38/1, Sathy Road, Above Shiva Kanch Mandir, 5 Civil Lines, Sagar - 470002. Tel. No.: 07582 402404  Salem No.6, NS Complex, Omalur
(VCTV Main Road), Sorna Krishna Complex, Ground Floor, Erode, Tamil Nadu, Erode - 638 003. Tel No.:0424-4021212 main road, Salem, Tamil Nadu - 636016. Tel. No.: 0427-4020300.  Sambalpur 1st Floor; Shop No. 219 Sahej Plaza, Gole
 Faridabad A-2B, 3rd Floor, Neelam Bata Road, Peer ki Mazar, Nehru Groundnit, Faridabad - 121001. Tel. No.: 7518801812 bazar; Sambalpur - 768 001. Tel No.: 06632533437  Satna 1st Floor, Gopal Complex, Near Bus Stand, Rewa Road, Satna
 Ferozpur The Mall Road, Chawla Bulding, Ist Floor, Opp. Centrail Jail, Near Hanuman Mandir, Ferozepur - 152002. Tel. No.: - 485 001. Tel No.: 7518801847  Shillong Annex Mani Bhawan, Lower Thana Road, Near R K M Lp School, Shillong -
01632 241814  Gandhidham Shop # 12, Shree Ambica Arcade, Plot # 300, Ward 12, Opp. CG High School, Near HDFC Bank, 793001. Tel. No.: 0364 2506106  Shimla 1st Floor, Hills View Complex, Near Tara Hall, Shimla, Himachal Pradesh -
Gandhidham - 370201. Tel. No.: 9081903027  Gandhinagar 123, 1st Floor, Megh Malhar Complex, Opp. Vijay Petrol Pump, 171002. Tel. No.: 7518801849  Shimoga Jayarama Nilaya, 2nd Corss, Mission Compound, Shimoga - 577 201. Tel No.:-
Sector – 11, Gandhinagar - 382011. Tel. No.: 079 23244955  Gaya Property No. 711045129, Ground Floor Hotel Skylark, 08182 295491.  Shivpuri Near Hotel Vanasthali, In Front of Sawarkar Park, A. B. Road, in the city of Shivpuri, Madhya
Swaraipuri Road, Gaya - 823 001. Tel No.: 0631-2220065  Ghaziabad FF - 31, Konark Building, Rajnagar, Ghaziabad, Uttar Pradesh, Shivpuri - 473 551. Tel No.:7518801850  Sikar First Floor, Super Tower, Behind Ram Mandir Near Taparya
Pradesh, Ghaziabad - 201 003. Tel No.: 7518801813  Ghazipur House No. 148/19, Mahua Bagh, in the city of Ghazipur, Uttar Bagichi, Sikar - 332001. Tel. No.: 01572 250398  Silchar N.N. Dutta Road, Chowchakra Complex, Premtala, Silchar -
Pradesh, Ghazipur - 233 001. Tel No.:7518801814  Gonda House No. 782, Shiv Sadan, ITI Road, Near Raghukul Vidya Peeth, 788001. Tel. No.: 03842 261714  Siliguri 2nd Floor, Nanak Complex, Sevoke Road, West Bengal, Siliguri - 734 001. Tel No.:
Civil Lines, Gonda, Uttar Pradesh - 271001 Tel No.: 7518801815  Gorakhpur Shop No 8 & 9, 4th Floor, Cross Road The Mall, (0353) 2522579  Sitapur 12/12 Surya Complex, Station Road, Sitapur - 261 001. Tel No.: 7518801851  Solan Disha
Bank Road, Gorakhpur - 273 001. Tel No.:- 7518801816  Guntur 2nd Shatter, 1st Floor. House no. 6-14-48, 14/2 Lane, Complex, 1st Floor, Above Axis Bank, Rajgarh Road, in the city of Solan, Himachal Pradesh, Solan - 173 212. Tel
Arundal Pet, Guntur, Andhra Pradesh, Guntur - 522 002. Tel No.: (0863) 2339094  Gurgaon 2nd Floor, Vipul Agora, M. G. No.:7518801852  Solapur Block No 06, Vaman Nagar, Opp. D-Mart, Jule Solapur, Solapur - 413004. Tel. No.: 0217
Road, Gurgaon - 122001. Tel. No.: 7518801817  Guwahati 1st Floor, Bajrangbali Building, Near Bora Service Station, GS 2300021  Sonepat 2nd Floor, DP Tower, Model Town, Near Subhash Chowk, Sonepat, Haryana, Sonepat - 131 001. Tel
Road, Guwahati, Assam - 781007. Tel. No.: 8811036746  Gwalior City Centre, Near Axis Bank, Gwalior - 474 011. Tel No.: No.:7518801853  Sri Ganganagar Address Shop No. 5, Opposite Bihani Petrol Pump, Near Baba Ramdev Mandir, NH – 15,
7518801818  Haldwani Shop No. 5, KMVN Shopping Complex, Haldwani, Uttarakhand, Uttaranchal - 263139. Tel. No.: Sri Ganganagar, Rajasthan, Sri Ganganagar - 335 001. Tel No.:0154-2470177  Srikakulam D No 4-4-97, First Floor, Behind
7518801819  Haridwar Shop No. - 13,1st Floor, Bhatia Complex Near Jamuna Palace, Haridwar - 249 410. Tel No.: Sri Vijayaganapathi Temple, Pedda Relli Veedhi, Palakonda Road , Srikakulam 532001 Tel. No.: 08942229925  Sultanpur
7518801820  Hassan Hemadri Arcade, 2nd Main Road, Salgame Road, Near Brahmins Boys Hostel, Hassan - 573 201. Tel 1st Floor, Ramashanker Market, Civil Line, in the city of Sultanpur, Uttar Pradesh, Sultanpur - 228 001. Tel No.:7518801854
No.:- 08172 262065.  Hissar Shop No. 20, Ground Floor, R D City Centre, Railway Road, in the city of Hissar, Haryana,  Surat State Building, Near Udhna Darwaja, Ring Road, Surat, Gujarat - 395002. Tel. No.: 9081903041  Thane Room No.
Hissar - 125 001. Tel No.:7518801821  Hoshiarpur The Mall Complex Unit No. SF-6, 2nd Floor, Opp. Kapila Hospital, Sutheri 302, 3rd Floor, Ganga Prasad, Near RBL Bank Ltd., Ram Maruti Cross Road, Naupada, Thane West, Mumbai - 400 602.
Road, Hoshiarpur - 146 001. Tel No.: 01882-500325  Hubli R R Mahalaxmi Mansion, Above Indusind Bank, 2nd Floor, Desai  Tirunelveli 55/18, Jeney Building, S N Road, Near Aravind Eye Hospital, Tirunelveli - 627001. Tel. No.: 0462 4001416
Cross, Pinto Road, Hubli - 580 029. Tel No.: 0836-2252444  Hyderabad (Banjara Hills) Selenium Plot No: 31 & 32, Tower B,  Tirupathi H.No:10-13-425, 1st Floor, Tilak Road, Opp: Sridevi Complex, Tirupathi - 517501. Tel. No.: 0877 2255797
Survey No.115/22 115/24 115/25, Financial District Gachibowli Nanakramguda, Serilimgampally Mandal, Hyderabad –  Tiruvalla 2nd Floor, Erinjery Complex, Ramanchira, Opp. Axis Bank, Thiruvalla - 689107. Tel. No.: 04862-211209
500032. Tel. No.: 040-33215122  Hyderabad No:303, Vamsee Estates, Opp. Bigbazaar, Ameerpet - 500 016. Tel No.:  Thrissur 4th Floor, Crown Tower, Shakthan Nagar, Opp. Head Post Office, Thrissur - 680 001. Tel No.: 9074053268
040-44857874 / 75 / 76  Indore 101 Diamond Trade Center, Opp:- Swamy Vivekananda School, Above Khurana Bakery,  Trichy No 23C/1 E V R road, Near Vekkaliamman Kalyana Mandapam, Putthur, Trichy,Tamil Nadu, Trichy - 620 017. Tel
Indore - 452 001. Tel. No.:- 0731 4218902 / 4266828.  Jabalpur 2nd Floor, 290/1 (615-New), Near Bhavartal Garden, No.:0431-4020227  Trivandrum Marvel Tower, 1st Floor, Ura-42 (Uppalam Road Residence Association), Statue,
Jabalpur Madhya Pradesh - 482 001. Tel. No.: 0761-4923301  Jaipur Office Number 101, 1st Floor, Okay Plus Tower, Next to Trivandrum - 695 001. Tel. No.:- 0471 – 2725728.  Tuticorin 4 - B, A34 - A37, Mangalmal Mani Nagar, Opp. Rajaji Park,
Kalyan Jewellers, Government Hostel Circle, Ajmer road, Jaipur, Rajasthan, Jaipur - 320 001. Tel No.:01414167715/17 Palayamkottai Road, Tuticorin - 628003. Tel. No.: 0461 2334603  Udaipur Shop No. 202, 2nd Floor business, center, 1C
 Jalandhar Office No 7, 3rd Floor, City Square building, EH197 Civil Lines, Jalandhar - 144 001. Tel No.: 0181-5094410 Madhuvan, Opp G P O Chetak Circle, Udaipur - 313 001. Tel No.: 0294-2429370  Ujjain 101 Aashta Tower, 13/1 Dhanwantri
 Jalgaon 269, Jaee Vishwa, 1st Floor, Baliram Peth, Above United Bank Of India, Near Kishor Agencies, Jalgaon - 425001. Marg, Freeganj, Ujjain - 456010. Tel. No.: 0734 4250007  Valsad 406 Dreamland Arcade, Opp Jade Blue , Tithal Road,
Tel. No.: 9421521406  Jammu 1D/D Extension 2, Valmiki Chowk, Gandhi Nagar, Jammu, Jammu & Kashmir - 180004. Tel. Valsad, Gujarat, Valsad - 396 001. Tel No.:02632-258481  Vapi A-8, First Floor, Solitaire Business Centre, Opp. DCB Bank,
No.: 0191-2951822  Jamnagar 131 Madhav Plazza, Opp SBI Bank, Nr Lal Bunglow, Jamnagar - 361 008. Tel No.: 0288 GIDC Char Rasta, Silvassa Road, Vapi - 396191. Tel. No.: 9081903028  Varanasi D-64/132, 2nd Floor, KA Mauza,
3065810  Jamshedpur Madhukunj, 3rd Floor, Q Road, Sakchi, Bistupur, East Singhbhum, Jharkhand, Jamshedpur - 831 Shivpurwa, Settlement Plot No 478, Pargana -Dehat Amanat, Mohalla Sigra, Varanasi,Uttar Pradesh, Varanasi - 221 010.
001. Tel No.: (0657) 6655003/ 6655004/ 6655005/ 6655006/ 6655007  Jhansi 1st Floor, Puja Tower, Near 48 Chambers, Tel No.:7518801855  Vashi Vashi Plaza, Shop no. 324, C Wing, 1st Floor, Sector 17, Vashi Mumbai - 400705. Tel. No.: 022-
ELITE Crossing, in the city of Jhansi, Uttar Pradesh, Jhansi - 284 001. Tel No.:7518801823  Jodhpur Shop No. 6, Ground 27802684  Vellore No 2/19, 1st Floor, Vellore City Centre, Anna Salai, Vellore - 632 001. Tel No.:- 0416 4200381
Floor, Gang Tower, Opposite Arora Moter, Service Centre, Near Bombay Moter Circle, Jodhpur - 342 003. Tel No.:  Vijayawada HNo. 26-23, 1st Floor, Sundaramma street, Gandhi Nagar, Krishna, Vijayawada - 520 010. Tel No.: 0866 -
7737014590  Junagadh Shop No. 201, 2nd Floor, V-ARCADE Complex, Near Vanzari Chowk, M.G. Road, Junagadh - 362 6604040/39/32  Visakhapatnam Door No : 48-10-40, Ground Floor, Surya Ratna Arcade, Srinagar, Opp Road to Lalitha
001. Tel No.:- 0285-2652220  Kalaburagi H No 2-231, Krishna Complex, 2nd floor, Opp. Muncipal Corporation Office, Jeweler Showroom, Beside Taj Hotel Ladge, Visakhapatnam - 530 016. Tel No.: 0891-2714125 Warangal Shop No 22,
Jagat, Station Main Road, Kalaburagi, State - Karnataka, Kalaburagi - 585 105. Tel No.: 08472 252503  Kannur 2nd Floor, Ground Floor Warangal City Center,15-1-237, Mulugu Road Junction, Warangal, State - Telangana, Warangal - 506 002. Tel
Global Village, Bank Road, Kannur - 670 001. Tel No.: 0497-2764190  Kanpur 15/46, B, Ground Floor, Opp. Muir Mills, Civil No.: (0870) 2441513  Yamunanagar B-V, 185/A, 2nd Floor, Jagadri Road, Near DAV Girls College, (UCO Bank Building)
Lines, Kanpur - 208001. Tel. No.: 7518801824  Karimnagar 2nd Shetter, HNo. 7-2-607, Sri Matha Complex, Pyara Chowk, Yamunanagar, Haryana - 135001. Tel. No.: 7518801857
C. Please refer our website www.invescomutualfund.com or visit mfuindia.com for Point of Services (“POS”) locations of MF Utilities India Private Limited (“MFU”) or
visit https://mfcentral.com which are Official Points of Acceptance (OPAs) for ongoing transactions.
Invesco Asset Management (India) Private Limited
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