SCHEME INFORMATION

DOCUMENT (SID) #KhudPeVishwaas

Offer of Units of Rs. 1/- per unit issued at a premium approximately equal
to the difference between face value and allotment price during the New
Fund Offer Period and at NAV based price during Continuous offer.

GOLD EXCHANGE TRADED FUND

(An Open-Ended Exchange Traded Fund replicating / tracking domestic price of Gold)

(SCHEME CODE TATA/O/O/GET/23/12/0058 )

(Scrip Code: Will be available at the time of listing of the scheme)

Scheme Riskometer Benchmark Riskometer

Domestic Price of Gold
This product is suitable for investors who are seeking*:
• Returns that are in line with the performance of physical gold
in domestic prices, subject to tracking error.
• Investment in gold and gold related instruments.
*Investors should consult their financial advisors if in doubt
about whether the product is suitable for them

(It may be noted that risk-o-meter specified above is based on internal assessment. The same shall be updated as per provision no. 17.4.1.i of SEBI Master Circular on Mutual Fund
dated May 19, 2023, on Product labelling in mutual fund schemes on ongoing basis.)

The particulars of the Scheme have been prepared in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations 1996, (herein after referred
to as SEBI (MF) Regulations) as amended till date, and filed with SEBI, along with a Due Diligence Certificate from the AMC. The units being offered for public subscription
have not been approved or recommended by SEBI nor has SEBI certified the accuracy or adequacy of the Scheme Information Document.
As required, a copy of this Scheme Information Document has been submitted to National Stock Exchange of India Limited (hereinafter referred to as NSE). NSE has given vide its letter
NSE/LIST/5611 dated October 25, 2023, permission to the Mutual Fund to use the Exchange's name in this Scheme Information Document as one of the stock exchanges on which the
Mutual Fund's units are proposed to be listed subject to, the Mutual Fund fulfilling various criteria for listing. The Exchange has scrutinized this Scheme Information Document for its
limited internal purpose of deciding on the matter of granting the aforesaid permission to the Mutual Fund. It is to be distinctly understood that the aforesaid permission given by NSE
should not in any way be deemed or construed that the Scheme Information Document has been cleared or approved by NSE; nor does it in any manner warrant, certify or endorse the
correctness or completeness of any of the contents of this Scheme Information Document; nor does it warrant that the Mutual Fund's units will be listed or will continue to be listed on the
Exchange; nor does it take any responsibility for the financial or other soundness of the Mutual Fund, its sponsors, its management or any scheme of the Mutual Fund.
Every person who desires to apply for or otherwise acquire any units of the Mutual Fund may do so pursuant to independent inquiry, investigation and analysis and shall not have any
claim against the Exchange whatsoever by reason of any loss which may be suffered by such person consequent to or in connection with such subscription /acquisition whether by
reason of anything stated or omitted to be stated herein or any other reason whatsoever. The Scheme Information Document sets forth concisely the information about the scheme that
a prospective investor ought to know before investing. Before investing, investors should also ascertain about any further changes to this Scheme Information Document after the date
of this Document from the Mutual Fund / Investor Service Centres / Website / Distributors or Brokers.
The investors are advised to refer to the Statement of Additional Information (SAI) for details of TATA Mutual Fund, Tax and Legal issues and general information on
www.tatamutualfund.com.

SAI is incorporated by reference (is legally a part of the Scheme Information Document (SID)). For a free copy of the current SAI, please contact your nearest Investor
Service Centre or log on to our website. The Scheme Information Document (SID) should be read in conjunction with the SAI and not in isolation.

This Scheme Information Document is dated 19 December, 2023

New Fund Offer Opens On : 02 January, 2024

New Fund Offer Closes On : 09 January, 2024
Scheme Re-opens On or before : 17 January, 2024

Mutual Fund AMC Trustee

Tata Mutual Fund Tata Asset Management Pvt Ltd. Tata Trustee Co. Pvt Ltd.
1903, B-Wing, Parinee Crescenzo, G-Block, 1903, B-Wing, Parinee Crescenzo, G-Block, 1903, B-Wing, Parinee Crescenzo, G-Block,
BKC, Bandra (East), Mumbai - 400 051 BKC, Bandra (East), Mumbai - 400 051 BKC, Bandra (East), Mumbai - 400 051
CIN: U65990-MH-1994-PTC-077090 CIN: U65991-MH-1995-PTC-087722

1903, B Wing, Parinee Crescenzo, G Block, BKC, Bandra East, Mumbai – 400 051
Call: (022) 6282 7777 (Monday to Saturday 9:00 am to 5:30 pm)
E-mail: [email protected] Website: www.tatamutualfund.com
 SID - Tata Gold Exchange Traded Fund

Tata Gold Exchange Traded Fund

Sr. No. Table of Contents Page No.

HIGHLIGHTS / SUMMARY OF THE SCHEME 03
I. INTRODUCTION
A. Risk Factors 05
B. Requirement of Minimum Investors in the Scheme 08
C. Special Consideration 08
D. Definitions 10
E. Due Diligence by the Asset Management Company 12
II. INFORMATION ABOUT THE SCHEME
A. Type of the Scheme 13
B. Investment Objective of the Scheme 13
C. Asset Allocation and Risk Profile 13
D. Where will the Scheme Invest 16
E. Investment Strategies 16
F. Fundamental Attributes 18
G. Scheme Benchmark 18
H. Fund Manager 19
I. Investment Restrictions 19
J. Performance of the Scheme 20
k. Scheme Portfolio Holdings 20
L. Investment by Board of Directors, Fund Managers and Key Personnel 20
III. UNITS AND OFFER
A. New Fund Offer (NFO) 21
B. Ongoing Offer Details 30
C. Periodic Disclosures 37
D. Computation of Net Asset Value 43
IV. FEES AND EXPENSES
A. New Fund Offer Expenses 43
B. Annual Scheme Recurring Expenses 44
C. Load Structure 45
D. Transaction Charges 46
V. RIGHTS OF UNITHOLDERS 46
PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTIONS OR
VI. INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN TAKEN OR IS IN THE PROCESS 46
OF BEING TAKEN BY ANY REGULAR AUTHORITY

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 SID - Tata Gold Exchange Traded Fund

HIGHLIGHTS / SUMMARY OF THE SCHEME

Name of the Scheme Tata Gold Exchange Traded Fund

Type of Scheme An Open-Ended Exchange Traded Fund replicating / tracking domestic price of Gold

Scheme Code (CSO 07) TATA/O/O/GET/23/12/0058

Scrip Code Will be available at the time of listing of the scheme

Scheme Category Other Schemes- Exchange Traded Fund

Investment Objective The investment objective of the fund is to generate returns that are in line with the performance of physical gold in
domestic prices, subject to tracking error. However, there is no assurance or guarantee that the investment
(CSO 05) objective of the Scheme will be achieved.

Liquidity/Subscription On the Exchange:

The Units of the Scheme will be listed on National Stock Exchange of India Limited (NSE) and/or any other
recognized stock exchanges as may be decided by AMC from time to time. The Units of the Scheme may be
bought or sold on all trading days minimum of 1 (one) unit at prevailing price on such Stock Exchange(s) on such
Stock Exchange(s).

Directly with the Mutual Fund:

The Scheme offers units for subscription / redemption directly with the Mutual Fund in Creation Unit Size
(10,50,000 units and in multiples thereof) to Market Makers (MMs), at intraday NAV prices on all Business Days
during an ongoing offer period.

Direct transaction with AMCs shall be facilitated for investors as per provision no. 3.6.2.1 & 3.6.2.2 of SEBI Master
Circular on Mutual Funds dated May 19, 2023 for subscription for an amounts greater than Rs.25 Crores at intra-
day NAV based on the actual execution price of the underlying portfolio on all Business Days during the ongoing
offer period. Direct transactions shall be in multiple of Creation Unit size. However the said threshold will not be
applicable to subscription made by a) Schemes managed by Employee Provident Fund Organization, India and b)
Recognized Provident Funds, approved gratuity funds and approved superannuation funds under Income tax Act,
1961, until April 30, 2024 or such other timeline as may be specified by SEBI. The subscription by the above-
specified investors shall be in creation unit size.

Dematerialization The units of the Scheme will be available in dematerialized form only. Investors intending to invest in units of the
Scheme are required to have a beneficiary account with the Depository Participant (DP) and will be required to
indicate in the application form the DP’s name, DP ID Number and the beneficiary account number of the applicant
with the DP at the time of purchasing units directly from the Fund on an ongoing basis in the Creation Unit Size.

The units of the Scheme will be issued, traded and settled compulsorily in dematerialized form. (CSO 57)

Transfer of Units Units held in Demat form are freely transferable in accordance with the provisions of SEBI (Depositories and
Participants) Regulations, as may be amended from time to time. (27)

Transfer can be made only in favour of transferees who are capable of holding units and having a Demat Account
(CSO 57). The delivery instructions for transfer of units will have to be lodged with the DP in requisite form as may
be required from time to time and transfer will be affected in accordance with such rules / regulations as may be
in force governing transfer of securities in dematerialized mode.

Benchmark Domestic Price of Gold .

Transparency of operation / The AMC will calculate and disclose the first NAVs within a period of 5 Business Days from the date of allotment
NAV Disclosure of Units of the Scheme. The NAVs will be calculated and disclosed on every Business Day. The AMC will
prominently disclose the NAVs under a separate head on the website of the Fund (www.tatamutualfund.com) and
of the Association of Mutual Funds in India-AMFI (www.amfiindia.com) by 9.00 A.M. on the next Business Day ^.
However, due to the inability to capture the same day valuation of underlying investments, the NAV shall be
disclosed by 11 P.M. of the next business day^.

^ Note: 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 for the delay and explain by when the
Mutual Fund would be able to publish the NAV.

As per provision no. 3.2.7.1 read with provision no. 3.3.6 of SEBI Master Circular on Mutual Funds dated May 19,
2023, iNAV of the scheme i.e. the per unit NAV based on the current market value of its portfolio during the trading
hours of the scheme, will be disclosed on a continuous basis on the Stock Exchange(s), where the units of the
scheme are listed and traded and will be updated based on the latest available data for Gold. Accordingly, iNAV

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 SID - Tata Gold Exchange Traded Fund
disclosed for the scheme may either be static or dynamic depending upon the availability of the underlying price.
In terms of provision no. 8.7 of SEBI Master Circular on Mutual Funds dated May 19, 2023 all direct transactions
in units of ETFs by MMs or other eligible investors with AMCs shall be at intra-day NAV based on the actual
execution price of the underlying portfolio.

The requirement of “cut-off” timing for NAV applicability as prescribed by SEBI from time to time shall not be
applicable for direct transaction with AMCs in ETFs by MMs and other eligible investors.

Tata Mutual Fund will disclose portfolio in user friendly and downloadable spreadsheet format, as on the last day
of the month/half year for all their schemes on its website www.tatamutualfund.com and on the website of AMFI
www.amfiindia.com within 10 days from the close of each month/half year.

Load Entry Load: NIL

Exit Load: NIL

New Fund Offer price (NFO) The units being offered will have a face value of Rs. 1/- each and will be issued at a premium, approximately equal
to the difference between face value and allotment price. The Allotment price for the NFO shall be approximately
equal to 1/10,00,000th of the value of the 1 KG gold price on the date of allotment.

Investment Options/Plan Not Available

Minimum Application Minimum Application Amount during NFO period

amount
Rs. 100/- and in multiples of Re. 1/- thereafter during NFO period.

Investors can switch into the Scheme from the existing Schemes of Tata Mutual Fund (subject to completion of
Lock-in Period, and applicable load if any) during the New Fund Offer Period.

Market Makers (MMs) as per provision no. 3.6.1.1 and Investors as per provision no. 3.6.2.1 & 3.6.2.2 of
SEBI Master Circular on Mutual Funds dated May 19, 2023 may request for allotment of units in Creation
Unit Size during NFO.

On Continuous basis

Subscription / Redemption of Units directly with Mutual Fund:

Market Makers can directly purchase / redeem in Creation Unit Size on any business day.

The Creation Unit size for the scheme shall be 10,50,000 units and in multiples thereof. The Creation Unit size
may be changed by the AMC at their discretion and the notice of the same shall be published on website of Mutual
Fund

Direct transaction with AMCs shall be facilitated for investors as per provision no. 3.6.2.1 & 3.6.2.2 of SEBI Master
Circular on Mutual Funds dated May 19, 2023 for redemption or subscription for an amounts greater than Rs.25
Cr at intra-day NAV based on the actual execution price of the underlying portfolio on all Business Days during the
ongoing offer period. Direct transactions shall be in multiple of Creation Unit size. Such Investors can subscribe /
redeem in Creation Unit size for the scheme in exchange of Portfolio Deposit and Cash Component. However the
said threshold will not be applicable to subscription / redemption made by a) Schemes managed by Employee
Provident Fund Organization, India and b) Recognized Provident Funds, approved gratuity funds and approved
superannuation funds under Income tax Act, 1961, until April 30, 2024 or such other timeline as may be specified
by SEBI. The subscription / redemption by the above-specified investors shall be in creation unit size.

The aforesaid threshold shall not be applicable for MMs (whose names will be available on AMC website).
Subscriptions and Redemption transactions by the MMs shall be in the creation unit size and will be reviewed
periodically.

The requirement of “cut-off” timing for NAV applicability as prescribed by SEBI from time to time shall not be
applicable for direct transaction with AMCs in ETFs by MMs and other eligible investors.

Purchase / Sale of Units on Stock Exchange:

The investors can directly subscribe to the units on a continuous basis on stock exchange where the Scheme will
be listed. Units can be bought and sold in the lots of 1 Unit and in multiple thereof.

Payment of Redemption For direct transactions, the AMC shall dispatch the Redemption proceeds within three working days from the date
Proceeds of redemption or repurchase.. Market Maker can directly redeem from the AMC in ‘Creation Unit Size & direct
transaction with AMCs shall be facilitated for investors as per provision no. 3.6.2.1 & 3.6.2.2 of SEBI Master
Circular on Mutual Funds dated May 19, 2023 for an amounts greater than Rs.25 Cr at intra-day NAV based on
the actual execution price of the underlying portfolio on all Business Days during the ongoing offer period. However
the said threshold will not be applicable to redemption made by a) Schemes managed by Employee Provident
Fund Organization, India and b) Recognized Provident Funds, approved gratuity funds and approved
superannuation funds under Income tax Act, 1961, until April 30, 2024 or such other timeline as may be specified
by SEBI. The redemption by the above-specified investors shall be in creation unit size.

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 SID - Tata Gold Exchange Traded Fund

Other Highlights
⚫ A Mutual Fund – sponsored by Tata Sons Private Limited (TSPL) and Tata Investment Corporation Limited (TICL).
⚫ The Scheme is managed by Tata Asset Management Private Limited (TAMPL).
⚫ Earnings of the Fund is exempt from income tax under Section 10(23D) of the Income Tax Act, 1961.
⚫ Interpretation
For all purposes of this Scheme Information Document (SID), except as otherwise expressly provided or unless the context otherwise requires:
• The terms defined in this SID includes the plural as well as the singular.
• Pronouns having a masculine or feminine gender shall be deemed to include the other.

I. INTRODUCTION

A. RISK FACTORS (CSO 08) (SO 02)

Standard Risk Factors:

• Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
• Investment in Mutual Fund Scheme 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 gold and / or securities in which the scheme invests fluctuates, the value of units of the scheme may
go up or down depending upon the factors affecting the stock market and/or bullion markets.
• Mutual Funds and securities investments are subject to market risks and there can be no assurance and no guarantee that the Scheme will
achieve its objective.
• As with any investment in stocks, shares and securities, the NAV of the Units under this Scheme can go up or down, depending on the factors
and forces affecting the capital markets.
• Past performance of the previous Schemes, the Sponsors or its Group / Affiliates / AMC / Mutual Fund is not indicative of and does not guarantee
the future performance of the Scheme.
• The sponsors are not responsible or liable for any loss resulting from the operations of the scheme beyond the initial contribution of Rs. 1 lakh
made by them towards setting up of the mutual fund.
• Tata Gold Exchange Traded Fund is only the name of the Scheme and does not in any manner indicate either the quality of the Scheme, its
future prospects or the returns. Investors therefore are urged to study the terms of the scheme carefully and consult their Tax and Investment
Advisor before investing in the Scheme.
• Tata Gold Exchange Traded Fund is not guaranteed or assured return scheme.
• In the event of receipt of an inordinately large number of redemption requests or of a restructuring of any of the Scheme’s portfolio, there may
be delays in the redemption of Units.
• Different types of securities/ assets in which the Scheme would invest as given in the SID carry different levels and types of risk. Accordingly,
the Scheme’s risk may increase or decrease depending upon its investment pattern.
• Investment decisions made by the AMC may not always be profitable.

Scheme Specific Risk Factors:

As per provision no. 3.2.7.1 read with provision no. 3.3.10.2 of SEBI Master Circular on Mutual Funds dated May 19, 2023, Market risk due to volatility
in gold prices: The value of the Units relates directly to the value of the underlying gold held by the Scheme and fluctuations in the price of gold could
adversely affect the investment value of the Units. The price of gold may fluctuate due to various factors such as: –
i) Global gold supplies and demand, which is influenced by factors such as forward selling by gold producers, purchases made by gold
producers to unwind gold hedge positions, central bank purchases and sales, and productions and cost levels in major gold producing
countries such as the South Africa, the United States, Australia and China.
ii) Investor’s expectations with respect to the rate of inflation.
iii) Currency exchange rates.
iv) Interest rates
v) Investment and trading activities of commodity funds/hedge funds.
vi) Global or regional political, economic or financial events and situations.

In addition, there is no assurance that gold will maintain its long-term value in terms of purchasing power in the future. In the event that the price of
gold declines, the value of investment in units in which the scheme has invested will, in general, decline proportionately.

There may be certain circumstances that may motivate large scale sales of gold which could decrease the price of gold and adversely affect an
investment in the Units.

Portfolio Concentration Risk: To the extent that the Scheme may concentrate its investments in gold and gold-related instrument(s), the Scheme will
therefore be subject to the risks associated with such concentration.

As per provision no. 3.2.7.1 read with provision no. 3.3.10.3 of SEBI Master Circular on Mutual Funds dated May 19, 2023, Liquidity risks in physical
or derivative markets impairing the ability of the fund to buy and sell Gold: Commodities tend to be more volatile than other instruments. This may
have an impact on liquidity. Liquidity considerations may have a price basis risk. Liquidity risks may arise due to issues related to the supply chain
which affects the availability of Gold. During an undetermined situation, similar to what happened during the pandemic, transportation all over the
world had come to a standstill. Financial markets had experienced extreme volatility and severe losses, and trading in many instruments had been
disrupted. Liquidity for many instruments had been greatly reduced for periods of time, and most commodities were in short supply resulting in illiquid
markets for most commodities including gold. The lack of liquidity in the physical market may also arise due to seasonality of demand and supply or
volatility prices. Lastly, government regulations including change in taxation or duties levied on gold may affect the demand and supply and may affect
the liquidity.

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 SID - Tata Gold Exchange Traded Fund
The Scheme’s gold may be subject to loss, damage, theft or restriction on access. There is a risk that part or all of the Scheme’s gold could be lost,
damaged or stolen. Access to the Scheme’s gold could also be restricted by natural events (such as earthquake) or human actions (such as terrorist
attack). Any of these actions may adversely affect the operations of the scheme and consequently an investment in units.

As per provision no. 3.2.7.1 read with provision no. 3.3.10.4 of SEBI Master Circular on Mutual Funds dated May 19, 2023, Risks associated with
handling, storing and safekeeping of physical gold: Currently, all physical gold procured must follow the LBMA (London Bullion Market Association)
guidelines as per prescribed SEBI guidelines. Risk arises when part or all of the gold held by the Scheme could be lost, stolen or damaged and access
to gold may be restricted due to natural calamities or human actions, loss or damage directly or indirectly occasioned by, happening through or in
consequence of war, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military
or usurped power. Loss due to aridity, humidity, exposure to light or extremes of temperature. Hence, the Custodian maintains insurance in regard to
the business on terms and conditions and the custodian is also responsible for all costs arising from the insurance policies. The custodian taking
delivery on behalf of the AMC needs to ensure the weight, purity, and the source of gold as specified under the LBMA guidelines.

Factors such as the fees and expenses of the Scheme, Corporate Actions, Cash balance, changes to the Underlying benchmark and regulatory
policies may affect scheme/ Fund Managers ability to achieve close correlation with the Underlying benchmark of the Scheme. The Scheme’s returns
may therefore deviate from those of its Underlying benchmark, generally known as “Tracking Error” risk.

The annualized standard deviation of the difference in daily returns between the underlying benchmark and the NAV of the scheme based on past
one year rolling data shall not exceed 2%. In case of unavoidable circumstances in the nature of force majeure, which are beyond the control of the
AMCs, the tracking error may exceed 2% and the same shall be brought to the notice of Trustees with corrective actions taken by the AMC, if any.
Index in existence for a period of less than one year, the annualized standard deviation shall be calculated based on available data. However, Tracking
Error of Index is likely to be low as compared to a normal index fund.

To the extent that some funds may be deployed in Debt/Money Market Operations, the Scheme will be subject to risks relating to such deployment /
operations and may also contribute to tracking errors.

The Scheme is subject to the principal risks described below. Some or all of these risks may adversely affect Scheme’s NAV, trading price, yield, total
return and/or its ability to meet its objectives.

Investment Risks

The price of gold & other securities may go up or down depending on a variety of factors and hence investors may note that AMC/Fund Manager’s
investment decisions may not be always profitable. Although it is intended to generate returns that, before expenses of the Scheme, track the
performance of domestic prices of Gold, subject to tracking error and utilizing debt and money market instruments as a defensive investment strategy.
The price of securities may be affected generally by factors affecting capital markets such as price and volume, volatility in the stock markets, interest
rates, currency exchange rates, foreign investment, changes in Government and Reserve Bank of India policy, taxation, political, economic or other
developments, closure of the Stock Exchanges etc. Investors should understand that the investment pattern indicated, in line with prevailing market
conditions, is only a hypothetical example as all investments involve risk and there is no assurance that the Fund’s investment objective will be
attained or that the Fund may not be in a position to maintain the indicated percentage of investment pattern under exceptional circumstances. There
is no guarantee the investment / dis-investment decision will result into profit.

Market Risk

The Scheme’s NAV will react to the price of the gold in domestic market. The Investor could lose money over short periods due to fluctuation in the
Scheme’s NAV in response to factors such as economic and political developments and changes in interest rates.

Regulatory Risk

Any changes in trading regulations by the stock exchange (s) or SEBI, may affect the trading volume of the units of the scheme. Changes in
government policy in general and changes in tax benefits applicable to Mutual Funds or gold and gold related instruments may impact the returns to
investors in the Scheme.

Liquidity Risk

Trading in units of Tata Gold Exchange Traded Fund on the Exchange may be halted because of market conditions or for reasons that in the view of
the Market Authorities or SEBI, trading in units of the scheme is not advisable. In addition, trading in units of Tata Gold Exchange Traded Fund are
subject to trading halts caused by extraordinary market volatility and pursuant to NSE and SEBI ‘‘circuit filter’’ rules. There can be no assurance that
the requirements of the Market necessary to maintain the listing of units of Tata Gold Exchange Traded Fund will continue to be met or will remain
unchanged. The Trustee, in the general interest of the unit holders of the Scheme offered under this scheme and keeping in view of the unforeseen
circumstances/unusual market conditions, may limit the total number of Units which can be redeemed on any Business Day, subject to SEBI approval.

Settlement Risk

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 as in certain cases, settlement
periods may be extended significantly by unforeseen circumstances. Similarly, the inability to sell securities held in the Schemes portfolio may result,
at times, in potential losses to the Schemes, and there can be a subsequent decline in the value of the securities held in the respective Scheme’s
portfolio.

Risks associated with Debt/Money Markets Instruments

Interest Rate Risk

As with money instruments, changes in interest rate may affect the price of the money market instrument(s) and ultimately Scheme’s net asset value.
Generally, the prices of instruments increase as interest rates decline and decrease as interest rates rise. Prices of long-term securities fluctuate more
in response to such interest rate changes than short-term securities. Indian debt and government securities markets can be volatile leading to the
possibility of price movements up or down in fixed income securities and thereby to possible movements in the NAV.

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 SID - Tata Gold Exchange Traded Fund

Credit Risk

Credit risk or Default risk refers to the risk that an issuer of a fixed income security may default (i.e., the issuer will be unable to make timely principal
and interest payments on the security). Because of this risk corporate debentures are sold at a higher yield above those offered on Government
Securities which are sovereign obligations and free of credit risk. Normally, the value of fixed income securities will fluctuate depending upon the
changes in the perceived level of credit risk as well as any actual event of default. The greater the credit risk, the greater the yield required for someone
to be compensated for the increased risk.

Reinvestment Risk

This risk refers to the difference in the interest rate levels at which cash flows received from the securities in the scheme is reinvested. The additional
income from reinvestment is the “interest on interest” component. The risk is that the rate at which interim cash flows are reinvested may be lower
than that originally assumed.

Risks associated with Derivatives. (CSO 28) (SO 05)

The Scheme may take exposures to Exchange Traded Commodity Derivatives (ETCDs) with gold as underlying.

• Derivative products are leverage instruments and can provide disproportionate gains as well as disproportionate losses to the investors.
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 involved 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.

• Derivative products are specialized instruments that require investment techniques and risk analysis different from those associated with stocks
and bonds. Derivatives require the maintenance of adequate controls to monitor the transactions entered into, the ability to assess the risk that
a derivative add to the portfolio and the ability to forecast price of securities being hedged and interest rate movements correctly. There is a
possibility that a loss may be sustained by the portfolio as a result of the failure of another party (usually referred to as the “counterparty”) to
comply with the terms of the derivatives contract. Other risks in using derivatives include the risk of mis-pricing or improper valuation of derivatives
and the inability of derivatives to correlate perfectly with underlying assets, rates and indices.

• 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”.

Liquidity Risk: While ETCDs that are listed on an exchange carry lower liquidity risk, the ability to sell these contracts is limited by the overall trading
volume on the exchanges. The liquidity of the Schemes investments is inherently restricted by trading volumes of the ETCD contracts in which it
invests. Additionally, change in margin requirements or intervention by government agencies to reduce overall volatility in the underlying commodity
could lead to adverse impact on the liquidity of the ETCD.

Price risk: ETCDs are leveraged instruments hence, a small price movement in the underlying security could have a large impact on their value. Also,
the market for ETCDs is nascent in India hence, arbitrages can occur between the price of the physical commodity and the ETCD, due to a variety of
reasons such as technical issues and volatile movement in the price of the physical good. This can result in mispricing and improper valuation of
investment decisions as it can be difficult to ascertain the amount of the arbitrage.

Settlement risk: ETCDs can be settled either through the exchange or physically. The inability to sell ETCDs held in the Schemes’ portfolio in the
exchanges due to the extraneous factors may impact liquidity and would result in losses, at times, in case of adverse price movement. Wherein the
underlying commodity is physically delivered in order to settle the derivative contract, such settlement could get impacted due to various issues, such
as logistics, Government policy for trading in such commodities.

Listing related risks

Listing the units of the fund does not necessarily guarantee their liquidity and there can be no assurance that an active secondary market for the
units will develop or be maintained. Consequently, the Fund may quote below its face value / NAV.

Trading in Units of the Scheme on the Exchange may be halted because of market conditions or for reasons that in view of Exchange Authorities or
SEBI, trading in Units of the Scheme is not advisable. In addition, trading in Units of the Scheme is subject to trading halts caused by extraordinary
market volatility and pursuant to Exchange and SEBI ‘circuit filter’ rules. There can be no assurance that the requirements of Exchange necessary to
maintain the listing of Units of the Scheme will continue to be met or will remain unchanged. Any changes in trading regulations by the Stock
Exchange(s) or SEBI may inter-alia result in wider premium/ discount to NAV. The Units of the Scheme may trade above or below their NAV. The
NAV of the Scheme will fluctuate with changes in the market value of Scheme’s holdings. The trading prices of Units of the Scheme will fluctuate in
accordance with changes in their NAV as well as market supply and demand for the Units of the Scheme. However, the Units of the Scheme can be
subscribed / redeemed in Creation Unit Size directly with the Fund, which provides efficient arbitrage between the traded prices and the NAV, thereby
reducing the incidence of the units of the Scheme being traded at premium/discounts to NAV. However, any changes in the trading regulations by
NSE/Stock Exchange/SEBI may affect the ability of the market makers to arbitrage resulting into wider premium or discount to NAV. The Units will be
issued in demat form through depositories. The records of the depository are final with respect to the number of Units available to the credit of Unit
holder. Settlement of trades, repurchase of Units by the Mutual Fund will depend upon the confirmations to be received from depository(ies) on which
the Mutual Fund has no control.
The market price of the Units of the Scheme, like any other listed security, is largely dependent on two factors, viz., (1) the intrinsic value of the Unit
(or NAV), and (2) demand and supply of Units in the market. Sizeable demand or supply of the Units in the Exchange may lead to market price of
the Units to quote at premium or discount to NAV.

Risks associated with Segregated Portfolio (45)

Investors holding units of segregated portfolio may not be able to liquidate their holding till the time recovery of money from the issuer. Security
comprises of segregated portfolio may not realise any value.
Listing units of segregated portfolio in recognized stock exchange does not necessarily guarantee their liquidity. There may not be active trading of
units in the stock market. Further the trading price of units on the stock market may be significantly lower than the prevailing NAV.

7
 SID - Tata Gold Exchange Traded Fund

Redemption Risk

Investors may note that even though this is an open-ended scheme, the Scheme would repurchase/redeem Units in Creation Unit Size only. Thus,
unit holdings less than the Creation Unit Size can only be sold through the secondary market on the Stock Exchange where these units are listed,
subject to the rules and regulations of the Exchange.

Risks associated with investing in Securities Segment and Tri-party Repo trade settlement:

The mutual fund is a member of securities segment and Tri-party Repo trade settlement of the Clearing Corporation of India (CCIL). All transactions
of the mutual fund in government securities and in Tri-party Repo trades are settled centrally through the infrastructure and settlement systems
provided by CCIL; thus, reducing the settlement and counterparty risks considerably for transactions in the said segments. The members are required
to contribute an amount as communicated by CCIL from time to time to the default fund maintained by CCIL as a part of the default waterfall (a loss
mitigating measure of CCIL in case of default by any member in settling transactions routed through CCIL). CCIL shall maintain two separate Default
Funds in respect of its Securities Segment, one with a view to meet losses arising out of any default by its members from outright and repo trades
and the other for meeting losses arising out of any default by its members from Triparty Repo trades. The mutual fund is exposed to the extent of its
contribution to the default fund of CCIL, in the event that the contribution of the mutual fund is called upon to absorb settlement/default losses of
another member by CCIL, as a result the scheme may lose an amount equivalent to its contribution to the default fund.

Risk Control & Mitigation Measures (CSO 09):

The Scheme by utilizing a holistic risk management strategy will endeavor to manage risks associated with investing in gold and gold-related
instruments. The risk control process involves identifying & measuring the risk through various risk measurement tools. The Scheme has identified
the following risks of investing in gold and gold-related instruments and designed risk management strategies, which are embedded in the investment
process to manage such risks.

Sr No. Risk & Description Risk mitigation / management strategy

1 Tracking Error:
The performance of the Scheme may not be The Investment Manager would monitor the tracking error of the Scheme on
commensurate with the performance of the underlying an ongoing basis and would seek to minimize tracking error to the maximum
benchmark on any given day or over any given period, extent possible. The investment manager will endeavor to maintain low cash
referred to as tracking error. levels to minimize tracking error.
2 Price risk:
Fluctuations in the price of gold Since the Scheme is passively managed, price risk is inherent and cannot
be mitigated.
3 Liquidity risk:
Inability to buy / sell appropriate quantity of gold The Scheme has to sell gold only to designated bankers / traders who are
authorized to buy gold. Though, there are adequate numbers of players to
whom the Scheme can sell gold the Scheme may have to resort to distress
sale of gold if there is no or low demand for gold to meet its cash needs of
redemption or expenses.
4 Event risk/Custody Risk:
Risk of loss, damage, theft, impurity etc. of gold There is a risk that part or all of the physical gold belonging to the Scheme
could be lost, damaged or stolen. In order to ensure safety, the said gold will
be stored with custodian in its vaults. Gold held by custodian is also insured.
The custodian will insure/cover all such risks.
6 Liquidity or Marketability Risk:
This refers to the ease with which a security can be sold The Scheme may invest in government securities, corporate bonds and
at or near to its valuation yield-to maturity (YTM). money market instruments as specified in asset allocation & where will
scheme invest section. While the liquidity risk for government securities,
money market instruments and short maturity corporate bonds may be low,
it may be high in case of medium to long maturity corporate bonds.
7 Credit Risk:
Credit risk or default risk refers to the risk that an issuer Management’s past track record will also be studied. In order to assess
of a fixed income security may default (i.e., will be financial risk a detailed assessment of the issuer’s financial statements will
unable to make timely principal and interest payments be undertaken to review its ability to undergo stress on cash flows and asset
on the security). Normally, the value of a fixed income quality. A detailed evaluation of accounting policies, off-balance sheet
security will fluctuate depending upon the changes in the exposures, notes, auditors’ comments and disclosure standards will also be
perceived level of credit risk as well as any actual event made to assess the overall financial risk of the potential borrower. In case of
of default. The greater the credit risk, the greater the securitized debt instruments, the Scheme will ensure that these instruments
yield required for someone to be compensated for the are sufficiently backed by assets.
increased risk.

B. REQUIREMENT OF MINIMUM INVESTORS IN THE SCHEME

As per provision no. 6.11 of SEBI Master Circular on Mutual Funds dated May 19, 2023, with respect to minimum number of investors and no single
investor shall account for more than 25% of the corpus of the Scheme are not applicable to exchange traded funds and hence do not apply to Tata
Gold Exchange Traded Fund.

C. SPECIAL CONSIDERATIONS

Investors are urged to study the terms of the SID carefully before investing in this Scheme, and to retain this SID for future reference. 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 or who have been designated as such by the investor. 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.

8
 SID - Tata Gold Exchange Traded Fund
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, on failure to provide required documentation, information, etc. by the unit holder the AMC shall have absolute
discretion to report such suspicious transactions to FIUIND and / or to freeze the folios of the investor(s), reject any application(s) / allotment of units.

Tax Consequences

Redemption by the unit holders due to change in the fundamental attribute (if any, in future) of the scheme or due to any other reason may entail tax
consequences for which the Trustees, AMC, fund their Directors / employees shall not be liable.

Other Business Activities of AMC:

AMC has obtained registration from SEBI vide Registration No. INP000001058 dated September 14, 2004, to act as a Portfolio Manager under SEBI
(Portfolio Managers) Regulations, 1993. AMC has appointed separate Fund Manager(s) for the same and back office is also segregated from Mutual
Fund Back Office.

AMC managing schemes of Tata Alternative Investment Fund (Alternative Investment Fund-Category II & Category III). AMC has appointed separate
Fund Manager(s) for the same and back office is also segregated from Mutual Fund Back Office.

AMC has obtained no objection from SEBI for providing investment advisory service and investment management services to Offshore Funds. These
funds are registered with SEBI as Foreign Portfolio Investors (FPIs). In terms of Regulation 24 (b) (vi) of SEBI (Mutual Funds) Regulations, 1996 there
is no need to appoint separate fund manager for managing these offshore funds.

AMC has also received no objection from SEBI for providing investment management services through its subsidiary company Tata Pension
Management Ltd under regulation 24(2) of SEBI (Mutual Funds) Regulations,1996. Tata Pension Management Limited has set up the pension fund.
Since the investment activities of Pension Funds are managed by a separate company, there is no conflict with investment activities of Tata Mutual
fund.

AMC has implemented necessary controls to avoid conflicts of interest in managing above activities.

All other business activities mentioned above will be explicitly forbidden from the acquisition of any asset out of the assets of the mutual fund scheme
which involves the assumption of any liability which is unlimited or shall not result in encumbrance of the assets of the mutual fund scheme in any
way and also should not affect the net worth requirements of Tata Asset Management Pvt Limited for mutual fund operation.

Disclosure / Disclaimer

To the best of the knowledge and belief of the Directors of the Trustee Company, information contained in this SID is in accordance with the SEBI
Regulations and facts and does not omit anything likely to have a material impact on the importance of such information.

Neither this SID nor the Units have been registered in any jurisdiction. The distribution of this SID in certain jurisdictions may be restricted or subject
to registration requirements and, accordingly, persons who come into possession of this SID are required to inform themselves about, and to observe,
any such restrictions. No persons receiving a copy of this SID or any accompanying application form in any such jurisdiction may treat this SID or
such application form as constituting an invitation to them to subscribe for Units, nor should they in any event use any such application form, unless
in the relevant jurisdiction such an invitation could lawfully be made to them and such application form could lawfully be used without compliance with
any registration or other legal requirements. Accordingly, this SID does not constitute an offer or solicitation to anyone in any jurisdiction in which such
offer or solicitation is not lawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to
make such offer or solicitation. It is the responsibility of any person in possession of this SID and any persons wishing to apply for Units pursuant to
this SID to inform themselves of, and to observe, all applicable laws and Regulations of such relevant jurisdiction.

Prospective investors should review / study this SID carefully and in its entirety and should not construe the contents hereof or regard the summaries
contained herein as advice relating to legal, taxation, or financial / investment matters and are advised to consult their own professional advisor(s) as
to the legal or any other requirements or restrictions relating to the subscription, gifting, acquisition, holding, disposal (sale, transfer, switch or
redemption or conversion into money) of Units and to the treatment of income (if any), capitalisation, capital gains, any distribution, and other tax
consequences relevant to their subscription, acquisition, holding, capitalisation, disposal (sale, transfer, switch, redemption or conversion into money)
of Units within their jurisdiction of nationality, residence, domicile etc. or under the laws of any jurisdiction to which they or any managed funds to be
used to purchase/gift Units are subject, and (also) to determine possible legal, tax, financial or other consequences of subscribing / gifting to,
purchasing or holding Units before making an application for Units.

No person has been authorized to give any information or to make any representations not confirmed in this SID in connection with the New Fund
Offer / Subsequent Offer of Units, and any information or representations not contained herein must not be relied upon as having been authorized by
the Mutual Fund or the Asset Management Company or the Trustee Company. Statements made in this SID are based on the law and practice
currently in force in India and are subject to change therein. Neither the delivery of this SID nor any sale made hereunder shall, under any
circumstances, create any impression that the information herein continues to remain true and is correct as of any time subsequent to the date hereof.
Notwithstanding anything contained in the SID the provisions of SEBI (Mutual Funds) Regulations 1996 and guidelines thereunder shall be applicable.
The Trustee Company would be required to adopt / follow any regulatory changes by SEBI / RBI etc. and /or all circulars / guidelines received from
AMFI from time to time if and from the date as applicable. The Trustee Company in such a case would be obliged to modify / alter any provisions /
terms of the SID during / after the launch of the scheme by following the prescribed procedures in this regard.

9
 SID - Tata Gold Exchange Traded Fund

D. DEFINITIONS & ABBREVIATION

Application Supported by Blocked Amount or ASBA is an application containing an authorization to a Self-

1. ASBA Certified Syndicate Bank (SCSB) to block the application money in the bank account maintained with the
SCSB, for subscribing to an issue.

A day other than

• Saturday and Sunday
• a day on which the National Stock Exchange of India Limited (NSE)and /or Bombay Stock Exchange
“Business Day” Limited(BSE) are closed
2. • a day on which sale and repurchase of units is suspended by the AMC
or “Working Day”
• a day on which normal business could not be transacted due to storms, floods, bandhs, strikes etc.
The AMC reserves the right to declare any day as a Business Day or otherwise at any or all Investor Service
Centres.

3. “Business Hours” Business hours are from 10.00 A.M. to 3.00 P.M. on any Business Day.

4. “BSE’’/ “NSE” The Bombay Stock Exchange Limited / The National Stock Exchange of India Limited

A Calendar Year shall be 12 full English Calendar months commencing from 1st January and ending on 31st
5. “Calendar Year”
December.

6. “Custodian” Orbis Financial Corporation Limited

Cash Component represents the difference between the Applicable NAV of Creation Unit and the market
value of Portfolio Deposit. This difference will represent accrued interest, income earned by the Scheme,
accrued annual charges including management fees and residual cash in the Scheme. In addition, the Cash
Component will include transaction cost as charged by the Custodian/DP and other incidental expenses if any
“Cash and will include the difference between the purchase price/sale price (in case of subscription/ redemption) and
7. closing price of Portfolio Deposit for creation/redemption of the ETF units in Creation Unit Size.
Component”
In case of redemption, the cash component will include exit load, if any.
The Cash Component will vary from time to time and will be decided and announced by the AMC. The Cash
Component will be announced by the Asset Management Company on a daily basis and will be put up on its
website i.e., www.tatamutualfund.com
Creation Unit is a fixed number of units of the Scheme, which is exchanged for a basket of physical gold
called the Portfolio Deposit and a Cash component. For redemption of Units, it is vice versa i.e., fixed
number of units of the Scheme and a cash component are exchanged for Portfolio Deposit.
Creation Unit Size will be 10,50,000 units and in multiples thereof.
Every creation unit shall have a monetary value in Rupee terms equivalent to that day’s portfolio deposit and
cash component.
8. “Creation Unit”
For redemption of Units, it is vice versa i.e. fixed number of Units of the Scheme are exchanged for Portfolio
Deposit and Cash Component, if any.
The Portfolio Deposit and Cash Component will change from time to time and is discussed separately in this
SID.
The Fund may from time to time change the size of the Creation Unit in order to equate it with marketable
lots of the underlying securities.
Depository means a body corporate as defined in the Depositories Act, 1996 (22 of 1996) and includes
9. “Depository”
National Securities Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL).
“Depository
Means a person registered as such under subsection (1A) of section 12 of the Securities and Exchange
10. Participant” or
Board of India Act,1992.
“DP”
“ETF/Exchange
A scheme whose units are listed on the Exchange and can be bought/sold at a price, which may be close to
11. Traded”
the NAV of the scheme.
Fund”
12. “Entry Load” Amount that is paid by the investors at the time of entry / subscription into the scheme.

13. “Exit Load” Amount that is paid by the investors at the time of exit / redemption from the scheme.

14. “Day” Any day as per English Calendar viz. 365 days in a year.
A Financial Year shall be 12 full English Calendar months commencing from 1 st April and ending on 31st
15. “Financial Year”
March.
group” means a group as defined in clause (b) of the Explanation to Section 5 of the Competition Act, 2002
16. “Group”
(12 of 2003)”
Investment Management Agreement dated 9th May 1995, as amended from time to time, between the TTCPL
17. “IMA”
& TAMPL.

10
 SID - Tata Gold Exchange Traded Fund

An investor means any resident or non-resident person whether individual or not (legal entity), who is eligible
to subscribe units under the laws of his/her/their country of incorporation, establishment, citizenship, residence
18. “Investor” or domicile and under the Income Tax Act, 1961 including amendments thereto from time to time and who
has made an application for subscribing units under the Scheme. Under normal circumstances, an Unit holder
shall be deemed to be the investor.

Intra Day NAV is the Value per Unit periodically computed on Business Days based on the intra-day prices
19. “Intra Day NAV” of the portfolio securities traded on stock exchange (NSE or BSE Secondary, in case security not traded on
NSE)

iNAV is an indicative per unit NAV based on the current market value of its portfolio during the trading hours
20. iNAV of an ETF
of the ETF, where the units of these ETFs are listed.
The term market maker refers to a firm or individual who actively quotes two-sided markets in a particular
security, providing bids and offers (known as asks) along with the market size of each. Market makers who
are members of stock exchange may provide liquidity and depth to markets and profit from the difference in
the bid-ask spread.
Currently, the following are the market makers appointed for the Scheme:
21. “Market Maker” 1. RiddhiSiddhi Bullions Ltd.
2. Parshwa Prism Gems and Jewellery Ltd.
3. Abans Broking services Private Ltd.
However, the above Market maker as subject to change at the discretion of AMC. Details of the market makers
will be updated on the website of Tata Mutual Fund from time to time.
(a) In case of winding up of the Fund:
In respect of a Unit, the amount that would be payable to the holder of that Unit on any date if the fund were
to be wound up and its assets distributed on that date (valuing assets and liabilities in accordance with the
“Net Asset Value” normal accounting policies of the Fund, but ignoring net distributable income of the current financial year and
22. winding up expenses).
or “NAV”
(b) Daily for Ongoing Sale/Redemption/ Switch:
In respect of a Unit, the amount that would be payable by/to the investor / holder of that Unit on any Valuation
date by dividing the net assets of the Scheme by the number of outstanding Units on the Valuation date.
Net Assets of the Scheme / Plan at any time shall be the value of the Fund’s total assets less its liabilities
23. “Net Assets”
taking into consideration the accruals and the provisions at that time.

24. “NFO” New Fund Offer

A person resident outside India who is a citizen of India or is a person of Indian origin as per the meaning
“Non- Resident
25. assigned to the term under Foreign Exchange Management (Investment in firm or proprietary concern in
Indian” / NRI
India) Regulations, 2000.

“Permissible Investments made on account of the Unitholders of the Scheme in securities and assets in accordance with
26.
Investments” the SEBI Regulations.
The Portfolio Deposit (predefined basket of securities that represent the underlining Index and announced by
the AMC from time to time) will be gold and will be for 1 kgs & in multiples of 1kgs thereof with fineness of 995
“Portfolio Deposit” or higher parts per thousand (99.5% or higher purity) confirming to London Bullion Market Association (LBMA)
27.
Good Delivery Standards and multiples thereof.
The value of Portfolio Deposit will change due to changes in the prices during the day.
Regulations imply SEBI Regulations and the relevant rules and provisions of the Securities and Exchange
Board of India (Depositories and participants) Regulations 1996, Public Debt Act 1944,the relevant
notifications of the Government of India Ministry of Finance Department of Revenue, (Central Board of Direct
28. “Regulations”
Taxes), the Income Tax Act, 1961,Foreign Exchange Management Act, 1999 as amended from time to time
and shall also include any Circulars, Press Releases or Notifications that may be issued by SEBI or the
Government of India or the Reserve Bank of India from time to time.

A resident means any person resident in India under the Foreign Exchange Management Act, 1999 and under
29. “Resident”
the Income Tax Act, 1961, including amendments thereto from time to time.

30. “Scheme” Tata Gold Exchange Traded Fund

31. “SEBI” Securities & Exchange Board of India established under the Securities & Exchange Board of India Act, 1992.

The Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 as amended from time to
32. “SEBI Regulations” time and shall also include any Mutual Fund Regulations, Circulars, Press Releases, or Notifications that
may be issued by SEBI or the Government of India to regulate the activities and growth of Mutual funds.

Self-Certified Syndicate Banks (SCSB), the lit of banks that have been notified by SEBI to act as a SCSB for
33. “SCSB”
the ASBA process as provided on www.sebi.gov.in

34. “SID” Scheme Information Document

35. “SAI” Statement of Additional Information

11
 SID - Tata Gold Exchange Traded Fund
Tata Asset Management Pvt Limited, the Asset Management Company (AMC), a company within the
36. “TAMPL”
meaning of the Companies Act, 1956 (1 of 1956) and includes its successors and permitted assigns.
Tata Investment Corporation Limited, a sponsor of the TMF and a shareholder of TAMPL, a company within
37. “TICL”
the meaning of the Companies Act, 1913 and includes its successors and permitted assigns.

Tata Mutual Fund, a trust established under a Trust Deed dated 9th May 1995, under the provisions of The
38. “TMF” or “Fund”
Indian Trusts Act, 1882, bearing SEBI registration No. MF/023/95/9.

Total Assets of the Scheme at any time shall be the total value of the Schemes assets taking into
39. “Total Assets”
consideration the accruals.

The Trust Deed of the Mutual Fund dated 9th May 1995, as amended from time to time, made between TSL
40. “Trust Deed”
and TICL as the settlors, and TTCPL as the Trustee.

Tata Sons Private Limited, a sponsor of TMF and a shareholder of TAMPL, a company within the meaning
41. “TSPL”
of the Companies Act, 1913 and includes its successors and permitted assigns.

“TTCPL or Trustee Tata Trustee Company Pvt Limited, a company within the meaning of the Companies Act, 1956 and includes
42.
Company” its successors and permitted assigns.
Tracking error is a measure of the difference in returns from the Scheme and the returns from the index. It is
43. “Tracking Error” computed as the standard deviation of the difference between the daily returns of the underlying benchmark
and the NAV of the Scheme on an annualized basis.
A Unit holder means any resident or non-resident person whether individual or not (legal entity), who is eligible
44. “Unitholder”
to subscribe to the Scheme and who has been allotted Units under the Scheme based on a valid application.

The security representing the interests of the Unitholders in the Scheme. Each Unit represents one undivided
45. “Units” share in the assets of the Scheme as evidenced by any letter/ advice or any other statement / / instrument
issued by TMF.

46. “Year” A Year shall be 12 full English Calendar months.

E. DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY

The following Due Diligence Certificate has been submitted to SEBI:

It is confirmed that:

i. The Draft Scheme Information Document is in accordance with the Securities and Exchange Board of India (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 proposed scheme.

iv. All the intermediaries named in the Scheme Information Document and Statement of Additional Information are registered with SEBI and till
date such registration is valid.

For Tata Asset Management Pvt Limited

Place: Mumbai Padmanabhan Ramanathan

Date: 19th December, 2023 Compliance Officer

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 SID - Tata Gold Exchange Traded Fund

II. INFORMATION ABOUT THE SCHEME

A. TYPE OF THE SCHEME

An open-ended Exchange Traded Fund replicating / tracking domestic price of gold.

B. INVESTMENT OBJECTIVE OF THE SCHEME

The investment objective of the fund is to generate returns that are in line with the performance of physical gold in domestic prices, subject to tracking
error. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.

How the fund is different from other existing schemes of Tata Mutual Fund:
Tata Gold Exchange Traded Fund, an open-ended exchange traded fund is an exchange traded fund and is not a minor modification of any other
existing scheme/ product offered by Tata Mutual Fund. The scheme is a passively managed exchange traded fund. Currently, Tata Mutual Fund has
three Exchange Traded Fund i.e., Tata Nifty 50 Exchange Traded Fund, Tata Nifty Private Bank Exchange Traded Fund and Tata Nifty India Digital
Exchange Traded Fund. All these three schemes track different indices.

Below mentioned is the comparison of this fund with another existing scheme/s in the same category (i.e. Exchange Traded Fund) of Tata Mutual
Fund:

AUM as on No. of Folios

Scheme Name Asset Allocation Pattern Primary Investment Focus 30.11.2023 as on
(Rs. Crores) 30.11.2023
95%-100% in Equity and Equity related Primarily a passively managed
Tata Nifty 50 instruments covered by Nifty 50 index and exchange traded fund mirroring Nifty
Exchange Traded 0-5% in Money Market Instruments 50.
Fund including Tri-Party Repo or any other
552.58 4955
(Earlier known as instrument as may be permitted by SEBI At present we do not have other
Tata Nifty Exchange and units of liquid scheme of Tata Mutual similar scheme.
Traded Fund) Fund
95%-100% in Equity and Equity related Primarily a passively managed
Tata Nifty Private instruments covered by Nifty Private Bank exchange traded fund mirroring Nifty
Bank Exchange index and 0-5% in Money Market Private Bank Index.
Traded Fund Instruments including Tri-Party Repo or 8.18 1957
any other instrument as may be permitted At present we do not have other
by SEBI and units of liquid scheme of Tata similar scheme.
Mutual Fund.
95%-100% in Equity and Equity related Primarily a passively managed
Tata Nifty India instruments which are part of Nifty India exchange traded fund mirroring Nifty
Digital Exchange Digital index and 0-5% in Debt/Money India Digital Index.
Traded Fund Market Instruments including units of 57.88 8556
Mutual Fund. At present we do not have other
similar scheme.

C. ASSET ALLOCATION AND RISK PROFILE (SO 14)

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

Indicative allocations
Risk Profile
(% of total assets)
Instruments
Minimum Maximum Low/Medium/High

Gold (Includes Physical Gold and other Gold related

95 100 High
instruments as permitted by SEBI from time to time) #

Debt & Money Market Instruments including units of

0 5 Medium
Mutual Funds ^

# As per provision no. 3.2.1 of SEBI Master Circular on Mutual Funds dated May 19, 2023, gold related instruments are such instruments having gold
as underlying including but not limited Gold Deposit Scheme (GDS) / Gold Monetisation Scheme (GMS), 2015, Exchange Traded Commodity
Derivatives (ETCDs) & other such instruments as specified by SEBI & applicable from time to time. The cumulative exposure to gold related
instruments i.e. GDS of banks, GMS and ETCD having gold as the underlying shall not exceed 50% of net asset value of the scheme. However,
within the 50% limit, the investment limit for GDS of banks and GMS as part of gold related instrument shall not exceed 20% of net asset value of the
scheme. The unutilized portion of the limit for GDS of banks and GMS can be utilized for ETCD having gold as the underlying. (CSO 19, 20)
Certificates issued in respect of investments made by GETFs in GDS of banks and GMS can be held by the mutual funds in dematerialized or physical
form.
^ A small portion of the net assets will be invested in debt and money market instruments to meet the liquidity requirements of the Scheme.
(CSO 13, 19, 21)The scheme may invest in units of liquid / money market / debt mutual fund schemes of Tata Mutual Fund or in the Scheme(s) of
other mutual funds in conformity with the investment objective/ asset allocation of the Scheme. It may be noted that the margin placed for taking

13
 SID - Tata Gold Exchange Traded Fund
exposure to ETCDs are generally lower than the ETCD exposure limit considered for the purposes of monitoring investment limits and therefore, the
residual cash (i.e. ETCD exposure less placement of margin towards participation in ETCDs) are placed in cash and cash equivalents in the interest
of investors. The said placement in cash and cash equivalents shall not be considered as part of the limit of 0% to 5% allocated towards Debt &
Money Market Instruments including units of Mutual Funds. (CSO 19)
The Margin may be placed in the form of such securities/instruments/deposits as may be permitted/eligible to be placed as margin from the assets of
the Scheme. The securities/instruments/deposits so placed as margin shall be classified under the applicable category of assets for the purposes of
asset allocation.
(CSO 17) The cumulative gross exposure through gold, gold related instruments, debt including money market instruments, exchange traded
commodities derivative positions with gold as underlying, other permitted securities/assets and such other securities/assets as may be permitted by
SEBI & made applicable from time to time should not exceed 100% of the net assets of the scheme. Cash or cash equivalents with residual maturity
of less than 91 days may be treated as not creating any exposure. Cash equivalent means Government Securities, TBills & Repo on Government
Securities. (CSO 14)

As per clause 4 of Seventh Schedule of SEBI (Mutual Funds) Regulations 1996, the scheme may invest in another scheme under the same asset
management company or any other mutual fund without charging any fees, provided that aggregate inter-scheme investment made by all 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 mutual fund.

The Scheme will not invest in (CSO 18)

1. Securitized Debt
2. Debt Instruments with special features (AT1 and AT2 Bonds)
3. Debt instruments having Structured Obligations / Credit Enhancements.
4. Securities Lending & Borrowing , Short selling
5. Overseas securities / ADR / GDR
6. Units of REITs & InvITs
7. Repo in corporate debt securities and corporate reverse repo
8. Credit Default Swap transactions

It may be noted that no prior intimation/indication would be given to investors when the composition/asset allocation pattern under the Scheme
undergo changes within the permitted band as indicated above or for changes due to defensive positioning of the portfolio with a view to protect the
interest of the unitholders on a temporary basis. The investors/unitholders can ascertain details of asset allocation of the Scheme as on the last date
of each month on AMC‟s. website at www.tatamutualfund.com that will display the asset allocation of the Scheme as on the given day.
Investors may note that securities, which endeavor to provide higher returns typically, display higher volatility. Accordingly, the investment portfolio of
the Scheme would reflect moderate to high volatility in its Gold related investments and low to moderate volatility in its debt and money market
investments.
Change in Investment Pattern

Being a passively managed open-ended exchange traded fund, changes in investment pattern are normally not foreseen. However, for short durations
part of the corpus may remain pending for deployment, in cases of extreme market conditions, special events or corporate events. The Fund Manager,
with the intention to protect the interests of the unit holders may change the investment pattern for short term and defensive considerations. (reference
1.14.1.2 of SEBI Master Circular on Mutual Fund dated May 19, 2023). (CSO 23)
Deployment of NFO Proceeds in Triparty Repo or any other instrument as may be permitted by SEBI:
In accordance with provision no. 1.10.3 of SEBI Master Circular on Mutual Fund dated May 19, 2023, the scheme may deploy NFO proceeds, before
closure of NFO period, in ‘The Clearing Corporation of India Ltd.’s (CCIL) TREPS’. AMCs will not charge any investment management and advisory
fees on funds deployed in Triparty repo on Government Securities. The appreciation received from such investments shall be passed on to investors.
Further, in case the minimum subscription amount is not garnered by the scheme’s during the NFO period, the interest earned upon investment of
NFO proceeds in such instruments shall be returned to investors, in proportion of their investments, along-with the refund of the subscription amount.
Overview of Debt Market:

The major players in the Indian Debt Markets are banks, financial institutions, insurance companies and mutual funds. The instruments in the
market can be broadly categorized as those issued by corporate, banks, financial institutions and those issuedby state/central governments.
The risk associated with any investments are – credit risk, interest rate risks and liquidity risk. While corporate papers carry credit risk due to
changing business conditions, government securities are perceived to have zero credit risk. Interest rate risk is present in all debt securities
and depends on a variety of macroeconomic factors. The liquidity risk in corporate securities market is higher compared to those of government
securities. The liquidity risk in corporate securities market is higher compared to those of government securities. Liquidity in the corporate debt
market has been improving due to the entry of more players and due to various measures taken by the regulators to increase the liquidity and
transparency such as introduction of repo in corporate bonds, Credit Default Swaps, compulsory reporting of secondary market OTC transactions
on exchange platforms to name a few. Moreover, the recent successful e introduction of Interest Rate Future in the benchmark 10-year
Government Bond will also likely to increase the depth in the debt market.

The market participants in the corporate debt and gilt markets are banks, financial institutions, mutual funds, corporates, insurance companies,
FIIs, primary dealers and provident funds. The main debt instruments in the market are those issued by Corporates and State/Central
Governments. Corporate papers carry credit risk while government securities are believed to carry no credit risk. The main risks with investments
in debt securities are interest rate risk, credit risk and liquidity risk. Interest rate risk associated with debt instruments depend on the
macroeconomic environment. It includes both market price changes due to change in yields as wellas coupon reinvestment rate risk. Corporate
papers carry higher liquidity risk as compared to gilts due to the depth of the gilt market.

Money Market:

Money market encompasses a wide range of instruments with maturities ranging from one day to a year, issued by Government, Banks and
corporates etc and traded in markets of varying liquidity. The risk associated with any investments are – credit risk, interest rate risk and liquidity

14
 SID - Tata Gold Exchange Traded Fund
risk. However, such risks are lower in case of money market instruments compare to other debt instruments. Further, within the gamut of money
market instruments as available in the market, such risks are very low in case of instruments issued by government. While corporate papers carry
credit risk due to changing business conditions, government securities are perceived to have zero credit risk.

The following table attempts to give a broad overview of the available instruments in the financial markets and their risk return profile. The data
given in the table is based on market conditions around the date of the document and can at best be considered indicative:

Expected Yields Range of Debt Securities

Expected Yields Range (%)

Issuer Instruments Maturity
as on 05.12.2023
GOI T-Bill 91 days 6.92 - 7.02

GOI T-Bill 182 days 7.09 - 7.19

GOI T-Bill 364 days 7.10 - 7.20

GOI Short dated 1-3 yrs 7.19 - 7.29

GOI Long dated 3-5 yrs 7.20 - 7.30

GOI Long dated 5-7 yrs 7.23 - 7.33

Corporate AAA 3-5 yrs 7.75 - 7.85

Corporate AAA 1-3 yrs 7.80 - 7.90

Corporate AA 3-5 yrs 8.39 - 8.49

Corporate AA 1-3 yrs 8.42 - 8.52

Corporate CP 3 months 7.45 - 7.55

Corporate CP 1 year 7.95 - 8.05

Banks CD 3 months 7.30 - 7.40

Banks CD 1 year 7.82 - 7.92

Repo 1-3 days 6.75 - 6.85

INTRODUCTION TO EXCHANGE TRADED FUNDS

An ETF is a passively managed product that provides exposure to an index or a basket of securities with the objective of generating returns as that
of the underlying benchmark, subject to tracking error. The key benefit of an ETF over traditional open-ended index funds is liquidity and availability
of real-time market price on stock exchange. They can be bought and sold on the exchange at prices that are usually close to the indicative intra-day
NAV of the Scheme. ETFs provide investors a fund that tracks the performance of an index with the ability to buy/sell on an intra-day basis. ETFs are
structured in a manner which allows to create new units (called creation units) and redeem outstanding units directly with the fund, thereby ensuring
that ETFs trade close to their actual NAVs.

Other eligible Investors as per provision no. 3.6.2 of SEBI Master Circular on Mutual Fund dated May 19, 2023 / institutions can purchase units by
depositing the underlying securities with the mutual fund/AMC and can redeem by receiving the underlying shares in exchange of units. Units can
also be bought and sold directly on the exchange. ETFs have all the benefits of indexing such as diversification, low cost and transparency. As ETFs
are listed on the exchange, costs of distribution are much lower, and the reach is wider. These savings in cost are passed on to the investors in the
form of lower costs. Furthermore, exchange traded mechanism helps reduce minimal collection, disbursement and other processing charges.

How ETF’s Works:

15
 SID - Tata Gold Exchange Traded Fund

Benefits of ETFs
a. Can be easily bought / sold like any other stock on the exchange through terminals spread across the country.
b. Can be bought / sold anytime during market hours at prices that are expected to be close to actual NAV of the Scheme. Thus, investor invests at
nearly the real-time prices as opposed to end of day prices.
c. Ability to put limit orders.
d. Protects long-term investors from the inflows and outflows of short-term investors. This is because the fund does not bear extra transaction cost
when buying/selling due to frequent subscriptions and redemptions.
e. Flexible as it can be used as a tool for gaining instant exposure to the equity markets, equitizing cash.
g. Tracking error is likely to be low compared to normal index fund due to lower expenses and the unique in-kind redemption and creation process
of units.

D. WHERE WILL THE SCHEME INVEST (CSO 29) (SO 15)

1. Gold and / or Gold related instruments, as specified by SEBI from time to time.

2. Investment in Debt & Money Market Instruments: The Scheme may also invest in Money market instruments, in compliance with Regulations to
meet liquidity requirements. & In conformity with the investment objective/ asset allocation of the Scheme.

Money Market Instruments includes instruments like Commercial Paper, Certificate of Deposit, Treasury Bills and short-term debt instruments etc.
Triparty Repo or any other instrument as may be permitted by SEBI, Reverse Repo in Government Securities and any other Money Market
instruments as may be permitted by SEBI/ RBI from time to time.

3. The scheme may invest in units of liquid / money market / debt mutual fund / schemes of Tata Mutual Fund or in the Scheme(s) of other mutual
funds in conformity with the investment objective/ asset allocation of the Scheme.

E. THE INVESTMENT STRATEGIES (SO 07)

Tata Gold Exchange Traded Fund is a passively managed fund which will employ an investment approach designed to track the performance of
domestic price of Gold.

The Scheme will invest at least 95% of its total assets in the Gold or Gold related instruments. It may hold up to 5% of their total assets in debt or
money market securities.

The expectation is that, over time, the tracking error of the Scheme relative to the performance of the Underlying benchmark will be relatively low.
The Investment Manager would monitor the tracking error of the Scheme on an ongoing basis and would seek to minimize tracking error to the
maximum extent possible.

There can be no assurance or guarantee that the Scheme will achieve any particular level of tracking error relative to the performance of the underlying
benchmark.

Tracking Error (CSO 10) (56)

Tracking error is a measure of the difference in returns from the Scheme and the returns from the underlying benchmark. It is computed as the
standard deviation of the difference between the daily returns of the underlying benchmark and the NAV of the Scheme on an annualized basis.

Tracking error could be the result of a variety of factors including but not limited to:
• Payment of scheme expenses.
• Investment in Debt and money market instruments to meet redemption / other liquidity requirements.
• Disinvestments to meet redemptions, recurring expenses etc.
16
 SID - Tata Gold Exchange Traded Fund
• Execution of large subscription / redemption transaction.
• Levy of margins by exchanges

The AMC would monitor the tracking error of the Scheme on an ongoing basis and would seek to minimize tracking error to the maximum extent
possible. The annualized standard deviation of the difference in daily returns between the underlying benchmark and the NAV of the scheme based
on past one year rolling data shall not exceed 2%.
In case of unavoidable circumstances in the nature of force majeure, which are beyond the control of the AMCs, the tracking error may exceed 2%
and the same shall be brought to the notice of Trustees with corrective actions taken by the AMC, if any. Index in existence for a period of less than
one year, the annualized standard deviation shall be calculated based on available data. However, Tracking Error of Index is likely to be low as
compared to a normal index fund.
There can be no assurance or guarantee that the Scheme will achieve any particular level of tracking error relative to performance of the underlying
benchmark.

Trading in Derivatives by the Scheme

Subject to SEBI (Mutual Fund) Regulations, 1996, exposure to derivative instruments will be restricted to the limit as specified in the para on asset
allocation pattern of the scheme.
A derivative is an instrument whose value is derived from the value of one or more of the underlying assets which can be commodities, precious
metals, bonds, currency, etc.

Exchange Traded Commodity Derivatives (ETCDs):

Commodity derivatives are instruments designed to give exposure to the commodity market. Multi Commodity Exchange provides derivatives for
bullion, base metals, energy, agricultural commodities etc. These contracts have varied maturities. The pricing of a commodity derivative is the function
of the underlying commodity.
Numerical illustration on Exchange Traded Commodity Derivatives (ETCDs):
Commodity Futures trade
Trade Date 20-Dec
Expiry Date 05-Feb
Current market price/ 10 grams 39,000
Lot size in grams 1,000
Lot value / contract value 39,00,000
Margin 5%
Margin Value 1,95,000
Trade / position Buy Commodity
Quantity 1 lot
Buy price per 10 grams 39,000
Sell trade date 25-Jan
Sell price per 10 grams 39,500
Gain/Loss per 10 grams 500

17
 SID - Tata Gold Exchange Traded Fund

➢ Commodity Options Trade

Trade Date 20-Dec

Contract Expiry Date 29-Jan
Corresponding futures contract 05-Feb
Current market price/ 10 grams 39,000
Strike price 39,000
Call Options premium per 10 grams 410
Trade / position Buy strike 39,000 CE
Quantity 1 Kg
Buy price per 10 grams 410
Sell trade date 25-Jan
Futures price on 25-Jan 39,500
39,000 strike CE price on 25-Jan 550
Gain/Loss per 10 grams 140

For detailed risk associated with use of derivatives, please refer paragraph “Scheme Specific risk factors”.

Portfolio Turnover
Being Exchange Traded Fund, the fund Manager will follow passive strategy while investing. Portfolio Turnover refers to the volume of trading that
occurs in a Scheme’s Portfolio during a specified period of time. As the Scheme is open ended and there could be a number of creations/redemptions
taking place through Market Makers / others, it would be difficult to estimate the portfolio turnover of the Scheme with any reasonable accuracy.

F. FUNDAMENTAL ATTRIBUTES (CSO 59) (SO 08)

Following are the Fundamental Attributes of the scheme, in terms of Regulation 18 (15A) of the SEBI (MF) Regulations:

(i) Type of a scheme

An Open-Ended Exchange Traded Fund replicating/tracking domestic price of gold.

(ii) Investment Objective

The investment objective of the fund is to generate returns that are in line with the performance of physical gold in domestic prices, subject to tracking
error. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.

Investment Pattern and Risk Profile:

The tentative portfolio break-up with minimum and maximum asset allocation, while retaining the option to alter the asset allocation for a short-term
period on defensive considerations has been given in paragraph “Asset Allocation Pattern”.

(iii) Terms of Issue

➢ Liquidity provisions such as repurchase/redemption of units-
Tata Gold Exchange Traded Fund shall be listed on the Exchange, subsequent buying or selling by Unit holders can be made from the
secondary market. For details on repurchase/redemption of units please refer section on redemption.

➢ Refer section “IV FEES AND EXPENSES” for aggregate fees and expenses chargeable to the Scheme.

➢ The scheme does not provide any safety net or guarantee, nor does it provide any assurance regarding declaration of income distribution
cum capital withdrawal. There is no guarantee or assurance that the scheme will achieve its’ objective.

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(s) and the Plan(s) / Option(s) thereunder or the trust or fee and expenses payable or any other change which would modify the Scheme(s)
and the Plan(s) / Option(s) thereunder and affect the interests of Unitholders is carried out unless:

i. An addendum to the existing SID shall be issued and displayed on AMC website immediately.

ii. SID shall be revised and updated immediately after completion of duration of the exit option (not less than 30 days from the notice date)

iii. 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.

iv. Trustees shall take comments of the Board before bringing such change(s).

G. SCHEME BENCHMARK (SO 09)

The performance of the scheme shall be benchmarked to the Domestic Price of Gold.

18
 SID - Tata Gold Exchange Traded Fund
Rationale for adoption of benchmark:

Since there is no suitable index available for gold or instruments linked to gold, the performance of the scheme will be benchmarked against the
Domestic Price of Gold.

H. FUND MANAGER (CSO 32, 33) (SO 10)

Total Other Schemes Experience

Name Age Qualification Experience Under His
(in years) Management (Assignments held during last 10 years)

Tapan 35 CFA, MFA 16 Tata Equity From 11 August 2023 onwards till date with Tata Asset Management Pvt. Ltd.
from ICFAI. Savings Fund as Fund Manager reporting to Chief Investment Officer.
Patel *
BBA from
Gujarat Tata Multi Asset
University Opportunities From 27 September 2022 till 10 August 2023 with Tata Asset Management
Fund Pvt. Ltd. Reporting to Head – Commodities Strategy, Research.

From 02 May 2018 to 23 September 2022 with HDFC Securities Limited as

Senior Manager – Research, Reporting to Deputy Head of Research.

From 16 January 2017 to 27 April 2018 with LKP Securities Ltd as Associate
Vice President – Research, Reporting to CEO.

From 29 August 2013 to 13 January 2017 with Kotak Commodity Services

Pvt. Ltd. as Manager (Analyst) – Research, Reporting to Head of Research.

From 01 January 2008 to 20 August 2013 with Edelweiss Comtrade Ltd, as

Associate – Research, Reporting to Head of Research.

* Dedicated Fund Manager for commodities, as per provision no. 3.2.7.1 read with provision no. 3.3.11 of SEBI Master Circular on Mutual Funds
dated May 19, 2023.

I. Restrictions on Investments (as per seventh schedule of SEBI {Mutual Fund} Regulations 1996) (SO 11)

Pursuant to the Regulations and amendments thereto and subject to the Asset allocation pattern, the following investment restrictions are presently
applicable to the Scheme:

1. The funds of gold exchange traded fund shall be invested only in gold or gold related instruments in accordance with its investment objective,
except to the extent necessary to meet the liquidity requirements for honouring repurchases or redemptions, as disclosed in the section of Where
will the Scheme invest;
The scheme shall not invest in unlisted debt instruments including commercial papers (CPs), other than (a) government securities, (b) other
money market instruments and (c) derivative products which are used by mutual funds for hedging.
2. 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 5% of the net assets (considering the scheme shall invest atleast
95% in gold and gold related instruments).
3. Transfers of investments from one scheme to another scheme in the same mutual fund shall be allowed only if: -
(a) such transfers are done at the prevailing market price^ for quoted instruments on spot basis.
Explanation- “spot basis” shall have same meaning as specified by stock exchange for spot transactions.
(b) the securities so transferred shall be in conformity with the investment objective of the scheme to which such transfer has been made.
^Note: SEBI vide , has prescribed the methodology for determination of price to be considered for inter scheme transfers. The AMC shall comply
with the guidelines issued by SEBI vide provision no. 12.30 of SEBI Master Circular on Mutual Fund dated May 19, 2023 and such other
guidelines as may be notified from time to time. (CSO 30)
4. The scheme may invest in another scheme under the same asset management company or any other mutual fund without charging any fees,
provided that aggregate inter scheme investment made by all 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 mutual fund. The AMC shall comply with the guidelines
issued by SEBI as provision no. 12.30 of SEBI Master Circular on Mutual Fund dated May 19, 2023 and such other guidelines as may be notified
from time to time.
5. Every 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 a 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 the SEBI:
Provided further that a mutual fund may enter into derivatives transactions in a recognized stock exchange, subject to the framework specified
by the SEBI.

19
 SID - Tata Gold Exchange Traded Fund
6. The mutual fund shall, get the securities purchased or transferred in the name of the mutual fund on account of the concerned scheme, wherever
investments are intended to be of long-term nature.
7. Pending deployment of funds of a Scheme in terms of investment objective of the scheme, a mutual fund may invest them in short term deposits
of schedule commercial banks, subject to provision no. 12.16 & 4.5.2 of SEBI Master Circular on Mutual Fund dated May 19, 2023 as may be
amended from time to time.
a. The term ‘short term’ for parking of funds shall be treated as a period not exceeding 91 days.
b. Such deposits shall be held in the name of each Scheme.
c. Each Scheme shall not park more than 15% of its net assets in the short-term deposit(s) of all the scheduled commercial banks put together.
However, it may be raised to 20% with the prior approval of the Trustee. Also, 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.
d. Each Scheme shall not park more than 10% of its net assets in short term deposit(s) with any one scheduled commercial bank including its
subsidiaries.
e. Trustees /AMC will ensure that no funds of a scheme is parked in short term deposit of a bank which has invested in that scheme and the
bank in which a scheme has short term deposit do not invest in that scheme until the scheme has short term deposit with such bank.
The above provisions do not apply to term deposits placed as margins for trading in cash and derivative market.
8. The scheme shall not make any investment in any fund of funds scheme.
9. The scheme will not advance any loan for any purpose.
10. The fund shall not borrow except to meet temporary liquidity needs of the mutual funds for the purpose of repurchase/ redemption of units or
payment of interest to the unitholders. Such borrowing shall not exceed more than 20 per cent of the net asset of the scheme and the duration
of such a borrowing shall not exceed a period of six months.
11. Investments by the scheme in gold related instruments i.e. GDS of banks, GMS and ETCD having gold as the underlying shall be subject to the
following investment limits:
The cumulative exposure to gold related instruments i.e. GDS of banks, GMS and ETCD having gold as the underlying shall not exceed 50% of
net asset value of the scheme. However, within the 50% limit, the investment limit for GDS of banks and GMS as part of gold related instrument
shall not exceed 20% of net asset value of the scheme. The unutilized portion of the limit for GDS of banks and GMS can be utilized for ETCD
having gold as the underlying.
These investment limitations / parameters (as expressed / linked to the net asset / net asset value / capital) shall in the ordinary course apply as at
the date of the most recent transaction or commitment to invest, and changes do not have to be effected merely because, owing to appreciations or
depreciations in value, or by reason of the receipt of any rights, bonuses or benefits in the nature of capital or of any scheme of arrangement or for
amalgamation, reconstruction or exchange, or at any repayment or redemption or other reason outside the control of the Fund, any such limits would
thereby be breached. If these limits are exceeded for reasons beyond its control, TAMPL shall adopt as a priority objective the remedying of that
situation, taking due account of the interests of the Unitholders.
In addition, certain investment parameters (like limits on exposure to Sectors, Industries, Companies, etc.) may be adopted internally by TAMPL, and
amended from time to time, to ensure appropriate diversification / security for the Fund. The Trustee / TAMPL may alter the above stated limitations
from time to time, and also to the extent the SEBI (MF) Regulations change, so as to permit the Scheme to make their investments in the full spectrum
of permitted investments in order to achieve their investment objective. As such all investments of the Scheme will be made in accordance with SEBI
(Mutual Funds) Regulations, 1996, including Schedule VII thereof. (SO 13)
Investment by Asset Management Company (CSO 58) (SO 01)
The AMC may invest either directly or indirectly in the Scheme during the NFO Period and on ongoing basis in line with SEBI regulations. However,
the AMC shall not charge any investment management and advisory services fee on such investments in a Scheme.

J. PERFORMANCE OF THE SCHEME

The scheme is a new scheme and does not have any performance track record.

K. SCHEMES PORTFOLIOS HOLDINGS

The scheme is a new scheme and does not have any portfolio holdings.

L. INVESTMENT BY BOARD OF DIRECTORS, FUND MANAGERS AND KEY PERSONNEL

The scheme is a new scheme and hence this disclosure is not applicable.

20
 SID - Tata Gold Exchange Traded Fund

III. UNITS AND OFFER

This section provides details you need to know for investing in the scheme.

A. NEW FUND OFF ER (NFO)

NFO opens on: 02nd January, 2024

NFO closes on: 09th January, 2024

New Fund Offer (NFO) MICR(CTS) cheques will be accepted till the end of business hours up to 08th January, 2024, RTGS & Transfer
Period cheques will be accepted till the end of business hours up to 09th January, 2024. Allotment is subject to realization
of funds. In case funds are not realized before the allotment date then such applications will be rejected.

Any such extension or reduction will be made by issuing notice cum addendum and by following any other
procedure as may be prescribed under SEBI (Mutual Fund) Regulations 1996, circulars, guideline, and any other
directive issued by SEBI from time to time.

The AMC reserves the right to extend the closing date, subject to the condition that the NFO subscription list shall
not be kept open for more than 15 days.

New Fund Offer Price: The units being offered will have a face value of Rs. 1/- each and will be issued at a premium, if any, approximately
equal to the difference between face value and allotment price.
This is the price per unit that
the investors have to pay to The Allotment price for the NFO shall be approximately equal to 1/10,00,000th of the value of the 1 KG gold price
invest during the NFO. on the date of allotment.

Minimum Amount for Minimum Application Amount during NFO period

Application in the NFO of a
scheme Rs. 100/- and in multiples of Re. 1/- thereafter during NFO period.

Investors can switch into the Scheme from the existing Schemes of Tata Mutual Fund (subject to completion of
Lock-in Period, and load if any) during the New Fund Offer Period.

Market Makers (MMs) as per provision no. 3.6.1.1 and Investors as per provision no. 3.6.2.1 & 3.6.2.2 of
SEBI Master Circular on Mutual Funds dated May 19, 2023 may request for allotment of units in Creation
Unit Size during NFO.

On Continuous basis

Subscription / Redemption of Units directly with Mutual Fund:

Market Makers can directly purchase / redeem in Creation Unit Size on any business day.

The Creation Unit size for the scheme shall be 10,50,000 units and in multiples thereof. The Creation Unit size
may be changed by the AMC at their discretion and the notice of the same shall be published on website of Mutual
Fund

Direct transaction with AMCs shall be facilitated for investors as per provision no. 3.6.2.1 & 3.6.2.2 of SEBI Master
Circular on Mutual Funds dated May 19, 2023 for redemption or subscription for an amounts greater than Rs.25
Cr at intra-day NAV based on the actual execution price of the underlying portfolio on all Business Days during the
ongoing offer period. Direct transactions shall be in multiple of Creation Unit size. Such Investors can subscribe /
redeem in Creation Unit size for the scheme in exchange of Portfolio Deposit and Cash Component. However the
said threshold will not be applicable to subscription / redemption made by a) Schemes managed by Employee
Provident Fund Organization, India and b) Recognized Provident Funds, approved gratuity funds and approved
superannuation funds under Income tax Act, 1961, until April 30, 2024 or such other timeline as may be specified
by SEBI. The subscription / redemption by the above-specified investors shall be in creation unit size.

The aforesaid threshold shall not be applicable for MMs (whose names will be available on AMC website).
Subscriptions and Redemption transactions by the MMs shall be in the creation unit size and will be reviewed
periodically.

The requirement of “cut-off” timing for NAV applicability as prescribed by SEBI from time to time shall not be
applicable for direct transaction with AMCs in ETFs by MMs and other eligible investors.

Purchase / Sale of Units on Stock Exchange:

The investors can directly subscribe to the units on a continuous basis on stock exchange where the Scheme will
be listed. Units can be bought and sold in the lots of 1 Unit and in multiple thereof

Minimum Target amount Rs. 5 Crores

This is the minimum amount The AMC may contribute the initial fund for unit creation. Subsequently, the AMC can transfer the units of such
required to operate the ETFs to Market Makers (MM’s) or other eligible investors as per provision no. 3.6.2 of SEBI Master Circular on
scheme and if this is not Mutual Fund dated May 19, 2023, subject to compliance with all applicable provisions for launch of ETFs.
collected during the NFO
period, then all the investors
would be refunded the

21
 SID - Tata Gold Exchange Traded Fund
amount invested without any
return. However, if AMC fails
to refund the amount within
five business days, interest
as specified by SEBI
(currently 15% p.a.) will be
paid to the investors from the
expiry of five business days
from the date of closure of
the subscription period.

Maximum Amount to be No upper limit

raised (if any)

This is the maximum

amount which can be
collected during the NFO
period, as decided by the
AMC.

Investment Options / Plans: Not Available

Allotment Allotment will be made to all applicants in the New Fund Offer provided the applications are complete in all respects
and are in order. Application for issue of Units will not be binding on the Fund and may be rejected on account of
failure to fulfill the requirements as specified in the application form.

Allotment process will be completed not later than 5 business days from the close of NFO and the units will be
credited to the DP account of the applicant as per the details provided in the application form. Any excess amount,
if any, would be refunded to the investor.

The Scheme will determine the allotment price as follows:

Allotment Price for the valid application received during NFO shall be approximately equal to 1/10,00,000th of the
value of the 1 KG gold price on the date of allotment.

All Units would be allotted in whole numbers and no fractional Units will be allotted. Units will be allotted only by
rounding off the units allotted to the lower integer and the balance amount will be refunded to the investor.

The Allotment process during the NFO by way of an illustration is given below:

Sr. No. Particulars Amount (Rs) / Unit

A Minimum Investment Rs. 100

B Domestic price of Gold (1 kg) while creating basket / portfolio Rs. 60,00,000
C Allotment Price (1 / 10,00,000 of Domestic price of Gold (1 kg)) Rs. 6
B / 10,00,000
D No. of Tata Gold ETF Units allotted (rounded off to whole number) 16 Units *
A/C
E Value of units allotted (Rs.) Rs. 96.00
C*D
F Cash refunded (Rs.) Rs. 4.00
A–E

* Units allotted to the lower integer in whole numbers (16). The excess amount i.e. Rs 4.00 will be refunded to the
Investor.

Refund Refund of subscription money to applicants whose applications are invalid for any reason whatsoever, will be
without incurring any liability whatsoever for interest or other sum. The entire amount shall be refunded within a
period of five business days of the closure of the New Fund Offer Period. If, the Fund fails to refund the amount
within 5 business days, interest @15% per annum for delayed period shall be paid by the AMC. Refunds will be
carried out electronically wherever CBS account nos., IFSC codes available or Direct Credit facility is available
with the Bank else through refund orders marked “A/c. Payee Only” drawn in the name of the first applicant.

Who can invest Eligibility for Application

The following persons (subject, wherever relevant to, purchase of Units being permitted under their respective
constitutions and relevant State Regulations) are eligible to apply for the purchase of the Units:
This is an indicative list and
investors are requested to • Adult individuals, either singly or more than one (not exceeding three) on first holder basis or jointly on an
consult their financial advisor either-or survivor/any one basis.
to ascertain whether the
scheme is suitable to their • Parents or other lawful Guardians on behalf of Minors.
risk profile.
• Companies, corporate bodies, public sector undertakings, trusts, wakf boards or endowments, funds,
institutions, associations of persons or bodies of individuals and societies (including Co-operative Societies)

22
 SID - Tata Gold Exchange Traded Fund
registered under the Societies Registration Act, 1860 (so long as the purchase of Units is permitted under their
respective constitutions).

• Mutual Funds (including any Scheme managed by AMC or any Scheme of any other Mutual Fund); (in
accordance with Regulation 44(1) read with Clause 4 of Schedule VII, of the Securities & Exchange Board of
India (Mutual Funds) Regulations, 1996).

• Asset Management Company (AMC); (in accordance with Regulation 25(17) of the Securities & Exchange
Board of India (Mutual Funds) Regulations, 1996).

• Partnership firms, in the name of the partners.

• Hindu Undivided families (HUF) in the sole name of the Karta.

• Financial and Investment Institutions/ Banks.

• Army/ Navy / Air Force, paramilitary Units and other eligible institutions.

• Religious and Charitable Trusts provided these are allowed to invest as per statute and their by-laws.

• Provident / Pension / Gratuity and such other Funds as may be permitted by Government of India or Other
Regulatory Authority in India to invest.

• Non-resident Indians/ persons of Indian origin residing abroad (NRIs) on a full repatriation basis.

• Foreign Portfolio Investor (Foreign Portfolio Investor (FPI) as defined under Regulation 2(1)(h) of Security
Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014.

• International Multilateral Agencies approved by the Government of India.

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

United States of America (US) has introduced chapter no. 4 in the US Internal Revenue Code as a part of the
Hiring Incentives to Restore Employment (HIRE) Act, which was enacted by the US legislature to create
employment opportunities in US. The HIRE Act includes Foreign Account Tax Compliance Act (FATCA), which
now forms a part of the US-IR Code. The regulations for FATCA have undergone revision since 2010 and the final
regulations make the FATCA provisions effective from July 1, 2014.

The objective of FATCA is to detect "US Persons", who evade US taxes by using financial account maintained
outside US. The US persons are defined as those who have either US citizenship or US residency. The FATCA
stipulates reporting on -

i. US taxpayers about certain foreign financial accounts and offshore assets.

ii. Foreign Financial Institutions (FFIs) about financial accounts with them of US taxpayers or foreign
entities in which US taxpayers hold substantial ownership interest.

FFIs (including mutual funds in India) are required to periodically report information on accounts of US persons,
who maintain balances above a threshold. In the event of a default in the reporting of information on accounts of
US taxpayers, a withholding of 30% of the payment made from US sources will be imposed on the recalcitrant
account holders and non-participating Financial Institutions. SEBI has advised that Government of India and US
Government have reached an agreement in substance on the terms of an Inter-Governmental Agreement (IGA) to
implement FATCA and India is now treated as having an IGA in effect from April 11, 2014. Tata Asset Management
Pvt Limited (TAMPL) is classified as a Foreign Financial Institution (FFI) under the FATCA provisions and in
accordance therewith, the AMC would be required to comply with the rules & regulations of FATCA, from time to
time.

In order to ensure compliance with FATCA and other rules / directions / notifications as may be issued by
Government of India or other regulatory authority, Mutual Funds are required to institute a process to identify US
Person investors and report the same.

Applicants are required to refer to the “FATCA information” section in the application and mandatorily fill/sign off
on the same. Applications without this information / declaration being filled/signed off will be deemed as
incomplete and are liable to be rejected. Investors are requested to note that the contents of the information to
be provided/ declaration in the application form may undergo a change on receipt of communication / guidelines
from Government of India or AMFI or SEBI or any other regulatory authority.

Common Reporting Standard (CRS):

On similar lines of FATCA, the Organization of Economic Development (OECD), along with the G 20 countries, of
which India is a member, has released a ‘Standard for Automatic Exchange of Financial Account Information in
Tax matters. In order to combat the problem of offshore tax evasion and avoidance and stashing of unaccounted
money abroad, the G 20 & OECD countries have together developed a common reporting standard (CRS) on
automatic exchange of information(AEOI). On June 3,2015 India has joined the Multilateral Competent Authority
Agreement (MCAA) on AEOI. The CRS on AEOI requires the financial institutions of the ‘source’ jurisdiction to
collect and report information to their tax authorities about account holder’s ‘resident’ in other countries. The
information to be exchanged relates not only to individuals, but also to shell companies and trusts having beneficial
ownership or interest in the ‘resident’ countries.

23
 SID - Tata Gold Exchange Traded Fund
In view of India’s commitment to implement the CRS on AEOI and also the IGA with USA and with a view to provide
information to other countries necessary legislative changes has already been made in Finance Act & by inserting
Rules 114F to 114H and Form 61B to provide a legal basis for the Reporting Financial Institutions (RFIs) for
maintaining and reporting information about the reportable accounts.

Applicants are required to refer to the “FATCA/CRS information” section in the application and mandatorily fill/sign
off on the same. Applications without this information / declaration being filled/signed off will be deemed as
incomplete and are liable to be rejected. Investors are requested to note that the contents of the information to
be provided/ declaration in the application form may undergo a change on receipt of communication / guidelines
from Government of India or AMFI or SEBI or any other regulatory authority.

With the change in guidelines, investors may be called for additional information required by the law. Investors are
requested to keep Mutual Fund updated with change in information already submitted by them with Mutual Fund.
FATCA provisions are relevant not only at on-boarding stage of investor(s)/unit holder(s) but also throughout the
life cycle of investment with the Fund/the AMC. In view of this, Investors should immediately intimate to the
Fund/the AMC, in case of any change in their status with respect to FATCA/CRS related declaration provided by
them previously.

Investors(s)/Unit holder(s) should consult their own tax advisors to understand the implications of FATCA/CRS
provisions /requirements.

With the change in guidelines, investors may be called for additional information required by the law. Investors are
requested to keep Mutual Fund updated with change in information already submitted by them with Mutual Fund.

Applicants who cannot Invest.

• A person who falls within the definition of the term “U.S” Person” under the US Securities Act of 1933 and
corporations or other entities organized under the laws of the U.S.

• A person who is resident of Canada.

• OCB (Overseas Corporate Bodies) as defined under Income Tax Act, 1061 and under Foreign Exchange
Management Act, 1999.

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 than prevailing statutory regulations, if any.

If a person resident of India at the time of subscription becomes a person resident outside India subsequently,
shall have the option to either be paid Redemption value of Units, or continue into the Scheme if he/ she so desires
and is otherwise eligible. However, the person who desires to continue in the Scheme shall not be entitled to any
interest or any compensation during the period it takes for the Fund to record the change in Address and the
Residential Status. Notwithstanding the aforesaid, the Trustee Company reserves the right to close the Unitholder
account and to pay the Redemption value of Units, subsequent to his becoming a person resident outside India,
should the reasons of expediency, cost, interest of Unitholders and other circumstances make it necessary for the
Fund to do so. In such an event, no resident Unitholders who have subsequently become resident outside India
shall have a right to claim the growth in capital and/ or income distribution cum capital withdrawal.

This scheme has not been registered in any country outside India. To ensure compliance with any Laws, Acts,
Enactments, etc. including by way of Circulars, Press Releases, or Notifications of Government of India, the Fund
may require/give verification of identity/any special/additional subscription-related information from /of the
Unitholders (which may result in delay in dealing with the applications, Units, benefits, distribution, etc./giving
subscription details, etc.). Each Unitholder must represent and warrant to the Trustee Company/AMC that, among
other things, he is able to acquire Units without violating applicable laws. The Trustee Company will not knowingly
offer or sell Units to any person to whom such offer or sale would be unlawful or might result in the Fund incurring
any liability or suffering any other pecuniary disadvantages which the Fund might not otherwise incur or suffer.
Units may not be held by any person in breach of the law or requirements of any governmental, statutory authority
including, without limitation, Exchange Control Regulations. The Trustee company may, compulsorily redeem any
Units held directly or beneficially in contravention of these prohibitions. In view of the individual nature of
investment portfolio and its consequences, each Unitholder is advised to consult his/her own professional advisor
concerning possible consequences of purchasing, holding, selling, converting or otherwise disposing of the Units
under the laws of his/her State/country of incorporation, establishment, citizenship, residence or domicile.

Where can you submit the During New Fund Offer period, duly filled application form can be submitted at branch offices of Tata Asset
filled-up applications. Management Pvt Ltd. For the list of branch offices, please refer to the back cover page of this Scheme Information
Document.

Investors can also subscribe during New Fund Offer units from the official website of the AMC
i.e. www.tatamutualfund.com.

Registrar and Transfer Agent Computer Age Management Services Limited (Cams),

Register and Transfer Agent, SEBI registration number INR000002813

Unit: Tata Mutual Fund. 178/10, Kodambakkam High Road, Opp. Hotel Palmgrove, Nungambakkam, Chennai -
600 034. Website: www.camsonline.com Email: [email protected] (Tata Mutual Fund email address), Toll
Free No. (022) 6282 7777.

The Registrar has set up a special Investor service cell for quick redressal of Unitholder grievances (if any). All
correspondence, including change in the name, address, designated bank account number and bank branch
Account Statement, should be addressed to:

24
 SID - Tata Gold Exchange Traded Fund
Computer Age Management Services Limited (CAMS), 178/10, Kodambakkam High Road, Opp. Hotel
Palmgrove, Nungambakkam, Chennai - 600 034.Email: [email protected] (Tata Mutual Fund email address),
Toll Free No. (022) 6282 7777.

How to Apply (CSO 35) KYC is mandatory for investing in the Scheme. Non individual category of investors is required to furnish details
of Ultimate Beneficial Owner(s) (‘UBO’) and submit proof of identity (viz. PAN with photograph or any other
acceptable identity proof prescribed in common KYC form).

During the New Fund Offer Period, Application form (duly completed) along with a underlying security / cheque
(drawn on respective centers) / DD (payable at respective center) can be submitted at the Collection Centers or
Investors Service Centers mentioned in the Scheme Information Document. The refunds will be carried out within
5 days of the closure of NFO or receipt of funds whichever is later, Refunds may be carried out in a phased
manner subject to receipt of fund and reconciliation thereof within the stipulated regulatory timeframes .In case of
NFO devolvement or rejection of application for which the funds are already received by the fund house, the
investors may inform the fund house to allocate the funds for purchase in any other scheme of Tata Mutual Fund.
For ongoing purchase and redemption, applications completed in all respects, must be submitted only at the
Investors Service Centers as mentioned on the back cover page of the respective scheme SID.

Investors an also apply online through various online platforms including www.tatamutualfund.com,

All investment cheques should be current dated.

If there are no authorized Investor Services Centers where the investor resides, the application form duly
completed along with a underlying securities / DD payable at nearest TMF Branch, after deducting bank
charges/commission (not exceeding rate prescribed by State Bank of India) from the amount of investment, may
be given in TMF Branch.

If such bank charges / commission are not deducted by the applicant, then the same may not be reimbursed.
However, in case of application along with local Cheque or Bank Draft payable at / from locations where TMF has
its designated Authorized Investor Service Centres, Bank Draft charges/ commission may have to be borne by the
applicant. In such cases the Trustee Company is entitled to reject or accept any application.

Example:
If an amount of Rs. 10,000/- is being invested in some scheme of TMF by an investor resident in India having no
specified collection centre near his / her residence, the Demand Draft charges that he /she can deduct has been
illustrated below:

The correct amount of payment after

Investment made (Rs.) (say) Demand Draft charges (Rs.)
recovery of demand draft charges (Rs.)

10,000.00 50.00 9950.00

Please note that Stock invests, Cash and postdated Cheques, money orders and postal orders would not be
accepted.
Subscription by NRIs
In terms of Schedule 5 of Notification no. FEMA 20/2000 dated May 3, 2000, RBI has granted general permission
to NRIs to purchase, on a repatriation basis unit of domestic mutual funds. Further, the general permission is also
granted to NRIs to sell the units to the mutual funds for repurchase or for the payment of maturity proceeds,
provided that the units have been purchased in accordance with the conditions set out in the aforesaid notification.
For the purpose of this section, the term “mutual funds” is as referred to in Clause (23D) of Section 10 of Income-
Tax Act 1961. However, NRI investors, if so desired, also have the option to make their investment on a non-
repatriable basis.

Mode of Payment on Repatriation basis

NRIs
In case of NRIs and persons of Indian origin residing abroad, payment may be made by way of Indian Rupee drafts
purchased abroad and payable at Mumbai or by way of cheques drawn on Non-Resident (External) (NRE)
Accounts payable at par at Mumbai. Payments can also be made by means of rupee drafts payable at Mumbai
and purchased out of funds held in NRE / FCNR Accounts.
In case Indian rupee drafts are purchased abroad or from Foreign Currency Accounts or Non-resident Rupee
Accounts an account debit certificate from the Bank issuing the draft confirming the debit shall also be enclosed.

FPI

Subscription by Foreign Portfolio investor (FPI) means a person who satisfies the eligibility criteria prescribed under
regulation 4 and has been registered under Chapter II of SEBI (Foreign Portfolio Investors) Regulations, 2014,
provided that any foreign institutional investor or qualified foreign investor who holds a valid certificate of
registration shall be deemed to be a foreign portfolio investor till the expiry of the block of three years for which
fees have been paid. No person shall buy, sell or otherwise deal in securities as a foreign portfolio investor unless
it has obtained a certificate granted by the designated depository participant on behalf of SEBI.

25
 SID - Tata Gold Exchange Traded Fund
Under SEBI (Foreign Portfolio Investors) Regulations, 2014 FPI (FII/Sub Account of FII/QFI’s) are allowed to invest
in units of schemes floated by domestic mutual funds, whether listed on a recognized stock exchange or not;
subject to compliance of the investment limits and terms and conditions as may be specified by SEBI/RBI.

FPI may pay their subscription amounts either by way of inward remittance through normal banking channels or
out of funds held in Foreign Currency Account or Non-resident Rupee Account maintained with a designated
branch of an authorized dealer with the approval of the RBI subject to the terms and conditions set out in the
aforesaid notification.

Mode of payment on non-Repatriation basis

In case of NRIs/Persons of Indian origin seeking to apply for Units on a non-repatriation basis, payments may be
made by cheques/demand drafts drawn out of Non-Resident Ordinary (NRO) accounts/ Non-Resident Special
Rupee (NRSR) accounts and Non-Resident Non-Repatriable (NRNR) accounts payable at the city where the
Application Form is accepted.

Refunds, interest and other distribution (if any) and maturity proceeds/repurchase price and /or income earned (if
any) will be payable in Indian Rupees only. The maturity proceeds/repurchase value of units issued on repatriation
basis, income earned thereon, net of taxes may be credited to NRE/FCNR account (details of which should be
furnished in the space provided for this purpose in the Application Form) of the non-resident investor or remitted
to the non-resident investor by way of Indian Rupees converted into US dollars or into any other currency, as may
be permitted by the RBI, at the rate of exchange prevailing at the time of remittance and will be dispatched through
Registered Post at the unitholders risk. The Fund will not be liable for any loss on account of exchange fluctuations,
while converting the rupee amount in US dollar or any other currency. Credit of such proceeds to NRE/FCNR
account or remittance thereof may be permitted by authorized dealer only on production of a certificate from the
Fund that the investment was made out of inward remittance or from the Funds held in NRE/FCNR account of the
investor maintained with an authorized dealer in India. However, there is no objection to credit of such proceeds
to NRO/NRSR account of the investor if he so desires.
Subscription by Multilateral Funding Agencies, on full repatriation basis, is subject to approval by the Foreign
Investment Promotion Board.

Uniform process shall be applicable for investments made in the name of minor through a guardian:
In case of application in the name of minor, the minor has to be the first and the sole holder. No joint holder will be
allowed with the Minor as the first or sole holder. The Guardian of the minor should either be a natural guardian
(i.e., father or mother) or a court appointed legal guardian. A copy of birth certificate, passport copy, etc. evidencing
date of birth of the minor and relationship of the guardian with the minor, should be mandatorily attached with the
application. (CSO 37)

i. AMC will follow uniform process ‘in respect of investments made in the name of a minor through a guardian’
by provision no. 17.6 of SEBI Master Circular on Mutual Fund dated May 19, 2023. Further, according to the
SEBI circular no. HO/IMD/POD-II/CIR/P/2023/0069 dated May 12, 2023, payment for investment by any
mode shall be accepted from the bank account of the minor, parent or legal guardian of the minor, or from a
joint account of the minor with parent or legal guardian. For existing folios, the AMCs shall insist upon a
Change of Pay-out Bank mandate before redemption is processed. Irrespective of the source of payment for
subscription, all redemption proceeds shall be credited only in the verified bank account of the minor i.e., the
account the minor may hold with the parent/legal guardian after completing all KYC formalities.

ii. Upon the minor attaining the status of major/attaining 18 years of age, the minor in whose name the
investment was made, shall be required to complete the CKYC process and provide PAN, all the KYC details,
FATCA details, updated bank account details including cancelled original cheque leaf with the name of major
printed over it and by filling up a prescribed attaining Major status available on our website. No further
transactions shall be allowed till the status of the minor is changed to major.

iii. Any instructions registered for Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), Systematic
Withdrawal Plan (SWP) etc. if any, shall be suspended when the minor attains majority, till the status is
changed to major.

iv. The major may update Nomination in favour of an individual.

Restriction on Acceptance of Third-Party Payments for Subscription of units of schemes:

Application with third party cheque / third party bank account will be rejected except following which allowed under
extant regulations / AMFI Guidelines.

a) Payment by Employer on behalf of employee through Payroll deductions. or deductions out of the expense
reimbursements or in lieu of other payments., AMC shall take extra due diligence in terms of ensuring the
authenticity of such arrangements from a fraud prevention & KYC perspective.

Note:
Association of Mutual Funds in India [AMFI] vide its Best Practice Guidelines no 135/BP/23/2011-12 dated 29th
April 2011 has clarified that payment made by a guardian whose name is registered in the records of Mutual Fund
in that folio will not be treated as a Third-Party Payment.
Modes of Payments and Dispatch
AMCs may also use instruments or payment channels such as RTGS, NEFT, IMPS, direct credit, etc. or any other
mode allowed by Reserve Bank of India from time to time, for payments including refunds to unitholders in addition

26
 SID - Tata Gold Exchange Traded Fund
to the cheque, demand draft or IDCW warrants. If IFSC code provided in application form is Null or Incorrect/Invalid
then AMC/RTA reserves the right to update/overwrite/correct the details as per RBI master.

Further, AMCs may also use modes of dispatch such as speed post, courier etc. for payments including refunds
to unitholders in addition to the registered post with acknowledgement due.
In order to prevent frauds and misuse of payment instruments, the investors are mandated to make the payment
instrument (cheque, demand draft, pay order, etc.) favouring either of the following:

a. “XYZ Scheme A/c Permanent Account Number”

b. “XYZ Scheme A/c First Investor Name”
c. “XYZ Scheme A/c Existing folio number “

Investors are urged to follow the order of preference given above while making the payment.
In case of an application for investment accompanied with the Pay-order, Demand Draft, Banker’s cheque, the
following additional documents are required to be submitted:

• A Certificate from the Issuing banker, stating the Account holder’s name, PAN No, Address and the Account
number which has been debited for issue of the instrument.
• The account number mentioned in the certificate should be a registered bank account or the first named
applicant/ investor should be one of the account holders to the bank account debited for issue of such
instruments.
• additionally, if a pre-funded instrument issued by the bank against cash, it shall not be accepted for
investment of Rs 50000/- or more. The investor should submit a certificate (in original) obtained from the
bank giving name address and PAN (if available) of the person who has requested for the payment of
instrument. The said certificate should be duly certified by the Bank Manager with his/her full signature,
name, employee code, bank seal and contact number.

In case payment is made by RTGS, NEFT, Online Bank Transfer, etc., a copy of the instruction to the bank stating
the account number debited must accompany the purchase application.

In case of subscription through net banking, AMC shall endeavor to obtain the details of the bank account debited
from the payment gateway service provider and match the same with the registered pay-in accounts. In case it is
found that the payment is not made from a registered bank account or from an account not belonging to the first
named unit holder, the AMC/R&TA shall reject the transaction with due intimation to the investor.

In case of rejection of the transaction for non-compliances, the amount will be refunded without any interest to the
investor.

Investor may view the common application form/ application form of schemes for detail procedure/ clarification on
the subject.

As recommended by AMFI vide circular no.135/BP/24/2011-12 dated June 17,2011 for payments through net
banking and debit cards, TAMPL shall endeavor to obtain the details of the bank account debited from the payment
gateway service provider and match the same with the registered pay-in accounts. In case it is found that the
payment is not made from a registered bank account or from an account not belonging to the first named unitholder,
the AMC/ R&TA may reject the transaction with due intimation to the investor.

The above broadly covers the various modes of payment for mutual fund subscriptions. The above list is not a
complete list and is only indicative in nature and not exhaustive.

Additional mode of payment through Applications Supported Blocked Amount (ASBA)

In line with provision no. 14.8 & 14.8.4 of SEBI Master Circular on Mutual Fund dated May 19, 2023 all the new
scheme ( NFOs) launched by TMF on or after October 01,2010 shall offer ASBA facility to the investors subscribing
to New Fund Offer ( NFOs) of Tata Mutual Fund Schemes. This facility shall co –exist with the current process,
wherein cheques/demand drafts are used as a mode of payment.
Investors may also apply through the ASBA facility by filling in the ASBA form and submitting the same to their
respective banks, which in turn will block the amount in the account as per the authority contained in the ASBA
form.
Presently ASBA is offered by selected Self Certified Syndicate Banks (SCSBs) which are registered with SEBI for
offering the facility.

Investors are requested to check with their respective banks about the availability of the ASBA facility. For the
complete list of controlling / designated branches of above mentioned SCSB’s, please refer to the websites of
SEBI, BSE and NSE at www.sebi.gov.in, www.bseindia.com and www.nseindia.com.

Being an Exchange Traded Fund, the Units of the Scheme will be listed on the NSE and/or any other stock
exchange within such time as the Exchange may allow or within such time as the Regulations permit. An investor
Listing can buy/sell Units on the Exchange during the trading hours like any other publicly traded stock.

The AMC has proposed to engage/appoint Market Makers for providing liquidity for the Units of the Scheme on
the Stock Exchange(s) so that investors other than Market Makers and other eligible Investors as per provision no.

27
 SID - Tata Gold Exchange Traded Fund
3.6.2 of SEBI Master Circular on Mutual Fund dated May 19, 2023 are able to buy or sell units on the Stock
Exchange(s) using their services.

The AMC may also decide to delist the Units from a particular Exchange in case of need, provided that the Units
are listed on at least one Exchange.

The price of the Units in the market on Exchange will depend on demand and supply and market factors and
forces.

There is no minimum investment amount for investment through Exchange, although Units are dealt in minimum
in lot of 1 and in multiple thereof.

Special Products / facilities Facility for purchasing of the units of the scheme during NFO through order routing platform on BSE and
available during the NFO NSE

The scheme will be admitted on the order routing platform of Bombay Stock Exchange Limited ("BSE") and
National Stock Exchange of India Limited ("NSE"). Under this facility investors can submit the application for
subscription and redemption of units of the scheme though the Stock Exchange platform. This facility is pursuant
to guidelines issued by SEBI vide provision no. 16.2 of SEBI Master Circular on Mutual Fund dated May 19, 2023,
and the Stock Exchanges viz. BSE & NSE or any other authorized exchanges from time to time.

Provision no. 16.2.7 & 16.2.10 of SEBI Master Circular on Mutual Fund dated May 19, 2023, had permitted mutual
fund distributors to use recognized stock exchanges' infrastructure to purchase and redeem mutual fund units
directly from Mutual Fund / Asset Management Companies. Subsequently, SEBI vide provision no. 16.2.6 of SEBI
Master Circular on Mutual Fund dated May 19, 2023, allowed SEBI Registered Investment Advisors (RIAs) to use
infrastructure of the recognized stock exchanges to purchase and redeem mutual fund units directly from Mutual
Fund/ Asset Management Companies on behalf of their clients, including direct plans. Currently, Investors can
directly access infrastructure of the recognized stock exchanges to purchase and redeem mutual fund units directly
from Mutual Fund/ Asset Management Companies.

Investors availing of this facility shall be allotted units in accordance with the SEBI guidelines issued from time to
time and the records of the Depository Participant shall be considered as final for such unitholders. The
transactions carried out on the above platform(s) shall be subject to such guidelines as may be issued by the
respective stock exchanges and also SEBI (MF) Regulations and circulars/guidelines issued thereunder from time
to time.

The Scheme does not offer Systematic Investment Plans, Systematic Transfer Plans or Systematic Withdrawal
Plans.

The policy regarding reissue The Scheme does not propose to reissue redeemed units. The number of Units held by the Unit holder in his
of repurchased units, Beneficiary (Demat) account will stand reduced by the number of Units redeemed.
including the maximum
extent, the manner of
reissue, the entity (the
scheme or the AMC)
involved in the same.

Restrictions, if any, on the 2. The units issued in demat (electronic) form are transferable in accordance with the provisions of SEBI
right to freely retain or (Depositories and Participants) Regulations, as may be amended from time to time.
dispose of units being
offered. 3. Transfer would be only in favor of transferees who are capable of holding units and having a demat account.
The Fund will not be bound to recognize any other transfer.

4. The delivery instructions for transfer of units will have to be lodged with the DP in the requisite form as may be
required from time to time and transfer will be affected in accordance with such rules/regulations as may be in
force governing transfer of securities in dematerialized mode.

5. The Asset Management Company (AMC) may, in the general interest of all Unit holders of the Scheme, keeping
in view the unforeseen circumstances/unsure conditions, limit the total number of Units which may be redeemed
on any Business Day. Restrictions may be imposed under the following circumstances that leads to a systemic
crisis or event that severely constricts market liquidity or the efficient functioning of markets. a) Liquidity issues
- When markets at large become illiquid affecting almost all securities rather than any issuer specific security.
b) Market failures, exchange closures - When markets are affected by unexpected events which impact the
functioning of exchanges or the regular course of transactions. Such unexpected events could also be related
to political, economic, military, monetary or other emergencies. c) Operational issues - When exceptional
circumstances are caused by force majeure, unpredictable operational problems and technical failures (e.g., a
black out). Under the aforesaid circumstances, the AMC / Trustee may restrict redemption for a specified period
of time not exceeding 10 working days in any 90 days period. Any imposition of restriction on redemption / switch
of units would require specific approval of Board of AMCs and Trustees and the same should be informed to
SEBI immediately. Unitholders should note that the following provisions shall be applicable when redemption
requests are placed during such restricted period. i) No redemption requests upto Rs. 2 lakhs shall be subject
to such restriction and ii) Where redemption requests are above Rs. 2 lakhs, AMCs shall redeem the first Rs. 2
lakhs without such restriction and remaining part over and above Rs. 2 lakhs shall be subject to such restriction.

28
 SID - Tata Gold Exchange Traded Fund
6. The units held in demat mode can be pledged and hypothecated as per the provisions of Depositories Act, 1996
and Depositories Rules and Regulations.

As per provision no. 14.4.4 of SEBI Master Circular on Mutual Fund dated May 19, 2023, all the units of a
mutual fund scheme held in Demat form will be freely transferable.

Bank Account Details It shall be mandatory for the Unitholders to mention their bank account numbers in the applications/requests for
redemptions. Unitholders are requested to give the full particulars of their Bank Account i.e., nature and number
(CSO 61) (SO 19) of account, name, Account Number, Nine digit MICR code No. (For Electronic Credit Facility), IFSC code for NEFT
a 11-digit number, branch address of the bank at the appropriate space in the application form.

Uniform Procedure for Change of Bank Details (COB) and Change of Address (COA)

In order to protect the interest of the investors and mitigate the risks arising due to of increasingly fraudulent
attempts by external elements by changing the address and/or bank details of the genuine investor, uniform
process for carrying out change of bank and change of address is recommended by NISM committee.

Tata Mutual Fund (TMF) has adopted the following process for Change of Bank Mandate (COB) and Change of
Address (COA) in line with the AMFI circular no. 135/BP/17/10-11 dated October 22, 2010, and 135/BP/26/11-12
dated March 21, 2012.

A. Documents required for Change of Bank Mandate (COB)

1. Transaction slip/Request letter from investor

And
2. Proof of New Bank Mandate :
Original of any one of the following documents or originals should be produced for verification or copy
should be attested by the Bank:
• Cancelled original cheque of the new bank mandate with first unit holder name and bank account number
printed on the face of the cheque.
OR
• Self-attested copy of not older than 3 months bank statement containing the first unit holder name and
bank account number
OR
• Bank passbook with current entries not older than 3 months containing the first unit holder name and
bank account number.
OR
• Original Bank Letter on the letter head containing the first unit holder name and bank account number
duly signed by branch manager/authorized personnel with name, employee code and bank seal.
And
3. Proof of Existing Bank Mandate:
Original of any one of the following documents or copy should be attested by the Bank or originals
should be produced for verification:
• Cancelled original cheque with first unit holder name and bank account number printed on the face of
the cheque.
OR
• Original bank account statement / Passbook containing the first unit holder name and bank account
number.
OR
• Original letter issued by the bank on the letter head confirming the bank account holder name with the
account details, duly signed by the Branch Manager with name, employee code and bank seal.
OR
• In case such bank account is already closed, an original letter on the letter head of such bank duly signed
by the Branch Manager with name, employee code and bank seal, confirming the closure of said
account.

Important:

Unitholders may note that minimum 10 days prior notice is required for change/updation of bank account details. In
case prior notice for change of bank account details is not provided atleast 10 days prior to the date of redemption
then the payment of redemption proceeds may be paid out to the existing bank account.

For unit holder where the units are held in demat, please ensure that the bank account details linked with the demat
account is updated. Maturity payment would be made as per the bank account details as provided by the
Depository Participant.

B. Documents required for Change of Address (COA)

KYC not complied Folios/Clients:

1. Transaction slip/Request letter from investor

And
2. Proof of New Address (as per KYC guidelines)
And
3. Proof of Identity: Only PAN card copy if PAN is updated in the folio, or PAN/ other proof of identity
((as per KYC guidelines) if PAN is not updated in the folio.

Unitholders may note that copies of all the documents submitted should be self-attested and accompanied by
originals for verification. In case the original of any document is not produced for verification, then the copies should
29
 SID - Tata Gold Exchange Traded Fund
be properly attested / verified by entities authorized for attesting/verification of the documents as per extant KYC
guidelines.

II) Restriction on Acceptance of Third-Party Payments for Subscription of units of schemes of Tata Mutual
Fund: In pursuance to Best Practice Guidelines issued by Association of Mutual Funds in India [AMFI] Vide
Circular No.135/BP/16/10 dated August 16th 2010 for acceptance of Third party cheques, Tata Asset Management
Pvt Ltd has decided not to accept subscriptions with Third-Party cheques, For details kindly refer Statement of
Additional Information (SAI).

Official Points of Acceptance Tata Mutual Fund has entered into an agreement with MF Utilities India Private Limited (“MFUI”), a “Category II -
of Transaction through MF Registrar to an Issue” under SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993, for usage
utility & M Central during of MF Utility (“MFU”) - a shared services initiative of various asset management companies, which acts as a
NFO transaction aggregator for transacting in multiple schemes of various mutual funds with a single form and a single
payment instrument. Accordingly, all the authorized Point of Sales (POS) and website/mobile application of MFUI
(available currently and also updated from time to time) shall be eligible to be considered as ‘official points of
acceptance’ for all financial and non-financial transactions in the schemes of Tata Mutual Fund either physically or
electronically. The list of POS of MFUI is published on the website of MFUI at www.mfuindia.com.

Investors are requested to note that MFUI will allot a Common Account Number (“CAN”) i.e., a single reference
number for all investments in the mutual fund industry for transacting in multiple schemes of various mutual funds
through MFU and to map existing folios, if any. Investors can create a CAN by submitting the CAN Registration
Form and necessary documents at the POS. The AMC and/or its Registrar and Transfer Agent shall provide
necessary details to MFUI as may be needed for providing the required services to investors/distributors through
MFU. Investors are requested to visit the website of MFUI i.e., www.mfuindia.com to download the relevant forms.

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

Tata Mutual Fund has also entered into an agreement with MF Central. MF Central is the investor services hub
conceived by CAMS & KFintech, it provides convenience to transact across all folios of an investor. MF Central
has been appointed as Official point of Acceptance for Tata Mutual Fund Schemes also will be act as official point
of acceptance for Tata Mutual Fund schemes and investors can transact across all folios of the Investor.

MF Central will be Official Point of Acceptance of transaction.

Cash Investments Cash Investments in the Scheme Pursuant to provision no. 16.7 of SEBI Master Circular on Mutual Fund dated
May 19, 2023, it is permitted to accept cash transactions to the extent of Rs. 50,000/- subject to compliance with
Prevention of Money Laundering Act, 2002 and Rules framed there under and the SEBI Circular(s) on Anti Money
Laundering (AML) and other applicable AML rules, regulations and guidelines. Provided that the limit shall be
applicable per investor for investments done in a financial year across all schemes of the Mutual Fund, subject to
sufficient systems and procedures in place for such acceptance. However, any form of repayment by way of
redemption, etc. with respect to such cash investment shall be paid only through banking channel.

Tata Asset Management Private Limited is in process of implementing adequate systems and controls to accept
Cash Investment in the Scheme. Information in this regard will be provided to Investors as and when the facility is
made available.

B. ONGOING OFFER DETAILS

Ongoing Offer Period The Scheme will reopen for subscriptions /redemptions, within 5 business days from the date of allotment.

This is the date from which

the scheme will reopen for
subscriptions/redemptions
after the closure of the
NFO period.

Ongoing price for On The Exchange:

subscription (purchase)
(from other As the units of the Scheme are proposed to be listed on NSE, the investor can buy units on an ongoing basis on
schemes/plans of the the capital market segment of NSE at the traded prices in a minimum size of 1 unit and in multiples thereof.
mutual fund) by investors.
All categories of Investors may purchase the units through secondary market on any trading day.

Directly with the Fund:

This is the price you need
Market Makers shall transact with mutual fund in the Creation Size.
to pay for purchase
Direct transaction with AMCs shall be facilitated for investors only for transactions as per provision no. 3.6.2 of SEBI
Master Circular on Mutual Fund dated May 19, 2023 & as specified from time to time for redemption or subscription.
The aforesaid threshold shall not be applicable for MMs (whose names will be available on AMC website).
Subscriptions and Redemption transactions by the MMs shall be in the creation unit size and will be reviewed
periodically.

The requirement of “cut-off” timing for NAV applicability as prescribed by SEBI from time to time shall not be
applicable for direct transaction with AMCs in ETFs by MMs and other eligible investors.
30
 SID - Tata Gold Exchange Traded Fund

The Fund may also allow Cash subscription of Units of the Scheme in Creation Unit Size by other eligible Investors
as per provision no. 3.6.2 of SEBI Master Circular on Mutual Fund dated May 19, 2023 / Market Makers.

Purchase request for Creation Unit shall be made by such Investors to the Fund/AMC where upon the Fund/ AMC
will arrange to buy the underlying portfolio Securities on behalf of the Investor. The Portfolio Deposit and Cash
Component will be exchanged for the Units of the Scheme in Creation Unit Size.

‘Creation Unit’ is fixed number of units of the Scheme, which is exchanged for a basket of shares underlying the
Index called the Portfolio Deposit and a Cash Component. Creation Unit Size fixed for this scheme is 10,50,000 units
and in multiples thereof.

The number of units of the Scheme that investors can create is 10,50,000 units and in multiples thereof in exchange
of the Portfolio Deposit and Cash Component.

The Portfolio Deposit and Cash Component are defined as follows: -

Portfolio Deposit: This is a pre-defined basket of physical gold and will be defined and announced by the Fund on
daily basis and can change from time to time.

Cash Component for Creating in Creation Unit Size:

Cash Component represents the difference between the Applicable NAV of Creation Unit and the market value of
Portfolio Deposit. This difference will represent accrued interest, income earned by the Scheme, accrued annual
charges including management fees and residual cash in the Scheme. In addition, the Cash Component will include
transaction cost as charged by the Custodian/DP and other incidental expenses if any and will include the difference
between the purchase price/sale price (in case of subscription/ redemption) and closing price of Portfolio Deposit for
creation/redemption of the ETF units in Creation Unit Size.

The Cash Component for creation will vary from time to time and will be decided and announced by the AMC on its
website and other data providers.

AMC / Trustees reserve the right to change the size of Creation of units in order to equate it with marketable lot of
the underlying instrument.

Note:

a. Investors will also bear transactions charges associated with buying / selling / delivery of physical gold such as
transportation charges, brokerage, charges for purity / quality verification, statutory levies, etc.

b. Goods & Services Tax (GST), Tax Deducted at source (TDS), Tax Collected at source (TCS), stamp duty shall
be as applicable from time to time.

c. Transaction charges payable by the investor are per creation request and will be as determined by the AMC at the
time of transaction.

d. The Scheme may allow switches in ‘Creation Unit’ Size and in multiples thereof by Large Investors / Market Makers
based on the Portfolio Deposit / equivalent amount of cash and Cash Component as defined by the Scheme for that
respective Business Day.

e. The units are proposed to be listed on NSE to provide liquidity through secondary market. All categories of
Investors may purchase the units through secondary market on any trading day.

f. Details of the market makers will be updated on the website of Tata Mutual Fund from time to time..

Market Making Framework

a. As mandated by SEBI, AMC will appoint at least two Market Makers (MMs), to provide continuous liquidity from
Stock Exchange platform. The name of the MMs will be disclosed on the website of the AMC.

b. Tata AMC will facilitate in-kind creation and redemption of units of ETFs by MMs on a best effort basis.

c. Incentives, if any, shall be charged to the scheme withing the maximum permissible TER limit.

d. The principles of incentive structure to MM (as and when decided) will be disclosed on www.tatamutualfund.com

e. Incentives, if any, to market maker will be linked to performance of the market maker in terms of generating liquidity
in units of ETFs.

Market Making Settlement Process

In order to make the market making process less capital intensive, SEBI has allowed net settlement between cash
leg of transactions in units of ETF by the MM and consequent transaction in underlying basket by the ETF. Under
this mechanism, ETFs are allowed to buy and sell their own units without forming the part of asset allocation.

Allotment Allotment will be made to all applicants provided the applications are complete in all respects and are in order.
Application for issue of Units will not be binding on the Fund and may be rejected on account of failure to fulfill the
requirements as specified in the application form.

The units will be credited to the DP account of the applicant as per the details provided in the application form.

31
 SID - Tata Gold Exchange Traded Fund

Ongoing price for On the Exchange:

redemption (sale) /
repurchase / by investors. As the Scheme would be listed on NSE, the investor can sell units on an ongoing basis on the NSE at the traded
prices in multiples of 1 unit and in multiple thereof.

Directly with the fund:

This is the price you will
receive for Direct redemption transactions with AMCs shall be facilitated for investors only for transactions limit as specified by
redemptions/switch outs. SEBI from time to time. Such redemption shall be in multiple of Creation Unit Size.

The aforesaid threshold shall not be applicable for Market Makers (MMs) (whose names will be available on AMC
website). Redemption transactions by the MMs shall be in the creation unit size and will be reviewed periodically.
Example: If the applicable
NAV is Rs. 10, exit load is The requirement of “cut-off” timing for NAV applicability as prescribed by SEBI from time to time shall not be
1% then redemption price applicable for direct transaction with AMCs in ETFs by MMs and other eligible investors.
will be:
The Market Makers would transfer the requisite number of units of the Scheme equaling the creation unit to the
Rs. 10* (1-0.01) = Rs. Fund’s designated DP account and Cash component to be paid to the AMC /Custodian. On confirmation of the same,
9.90 the AMC will transfer the Portfolio Deposit to the investor’s DP account and pay the Cash Component, if applicable.

On receipt of cash redemption request in creation unit size or multiple thereof, the AMC may arrange to sell the gold
on behalf of the Market Maker / Large Investor and pass on the credit to the Market Maker / Large Investor. All
incidental charges including transaction costs for such purchase / redemptions will be borne by the investors. The
AMC may levy fees / load / charges to be announced from time to time, for this facility.

The Fund may from time to time change the size of the Creation Unit in order to equate it with marketable lots of the
underlying instruments.

Investors can directly approach the AMC for redemption of units of ETFs, for transaction limit as specified by SEBI
from time to time without any exit load, in case of the following scenarios (Exceptional Circumstances):
i. Traded price (closing price) of the ETF units is at discount of more than 1% to the day end NAV for 7 continuous
trading days, or
ii. No quotes for such ETFs are available on stock exchange(s) for 3 consecutive trading days, or
iii. Total bid size on the exchange is less than half of creation units’ size daily, averaged over a period of 7
consecutive trading days.
iv. In case of the above scenarios, applications received from investors for redemption upto 3 pm on any trading
day, shall be processed by the AMC at the closing NAV of the day.

The above instances will be tracked by on a continuous basis and in case if any of the above-mentioned scenario
arises, the same will be disclosed on the website of Tata AMC.

Market Makers (MMs) In order to make the market making process less capital intensive, SEBI has allowed net
settlement between cash leg of transactions in units of ETF by the MM and consequent transaction in underlying
basket by the ETF.

Under this mechanism, ETFs are allowed to buy and sell their own units without forming the part of asset allocation.

Other Considerations:

(a) As mandated by SEBI, AMC will appoint at least two Market Makers (MMs), to provide continuous liquidity from
Stock Exchange platform.

(b) Tata AMC will facilitate in-kind creation and redemption of units of ETFs by MMs on a best effort basis.

(c) Incentives, if any, shall be charged to the scheme withing the maximum permissible TER limit.

(d) The principles of incentive structure to MM (as and when decided) will be disclosed on
https://www.tatamutualfund.com/

(e) Incentives, if any, to market maker will be linked to performance of the market maker in terms of generating
liquidity in units of ETFs.

Determination of incentive for Market maker:

It will be determined based on any or all of the below mentioned criteria:

I. volume carried out by market maker on the exchange as compared to total volume of respective ETFs on
exchange.
II. Spread between the two-way quote (bid ask spread)
Incentive may be fixed monthly compensation or performance-based or transaction based.
Incentives to market maker shall be at the discretion of the AMC & to be decided between the AMC and the MM
which may be variable in nature or fixed amount adhering to maximum permissible limit of TER.

Incentives, if any, will be payable to MM subject to MM fulfilling its obligations and responsibilities.

32
 SID - Tata Gold Exchange Traded Fund

The role of market makers (MMs) is to offer liquidity of the units of the scheme on the Stock Exchange where the
units are listed. MM’s may offer to buy and sell quotes (bid and ask quotes) on the exchanges such that buy and sell
orders get executed in the market subject to price compatibility. Market Maker(s) may for the purpose of creating
liquidity subscribe or redeem the units of the scheme directly with the Mutual Fund.

Details of the market makers will be updated on the website of Tata Mutual Fund from time to time.

The AMC reserves right to appoint / remove any Market Makers (MM’s).

Cut off timing for The requirement of “cut-off” timing for NAV applicability as prescribed by SEBI from time to time shall not be
redemptions (sale) and applicable for direct transaction with AMC in the Scheme by MMs and other eligible investors in Creation Unit Size.
switch outs (to other
schemes / plans of the For Redemption transaction in less than Creation Unit Size in the exceptional circumstances mentioned in
mutual fund) by investor. clause 'Ongoing price for redemption (sale) / repurchase / by investors.’

The following cut-off timings shall be observed by the Mutual Fund

This is the time before 1. where the application received upto 3.00 pm – closing NAV of the day of receipt of application; and
which your application
(complete in all respects) 2. an application received after 3.00 pm – closing NAV of the next business day.
should reach the official
The Scheme is proposed to be listed and traded on the NSE or other stock exchange, the provisions of cut off time
points of acceptance.
(3 P.M.) is not applicable for secondary market transactions but will be subject to the trading time/restrictions for
purchase/sale of units as per the rules and regulations prescribed by the stock exchanges on which they are listed.

Settlement of purchase / sale of Units of the Scheme on NSE and/or any other stock exchange:

Buying/Selling of Units of the Scheme on NSE and/or any other stock exchange is just like buying/selling any other
normal listed security. If an investor has bought Units, an investor has to pay the purchase amount to the broker/sub-
broker such that the amount paid is realised before the funds pay-in day of the settlement cycle on the Stock
Exchange(s). If an investor has sold Units, an investor has to deliver the Units to the broker/sub broker before the
securities pay in day of the settlement cycle on the Stock Exchange(s). The Units (in the case of Units bought) and
the funds (in the case of Units sold) are paid out to the broker on the pay-out day of the settlement cycle on the Stock
Exchange(s). The Stock Exchange(s) regulations stipulate that the trading member should pay the money or Units
to the investor within 24 hours of the pay-out.

If an investor has bought Units, he should give standing instructions for ‘Delivery-In’ to his /her/its DP for accepting
Units in his/her/its beneficiary account. An investor should give the details of his/her beneficiary account and the DP-
ID of his/her/its DP to his/ her/its trading member. The trading member will transfer the Units directly to his/her/ its
beneficiary account on receipt of the same from NSE’s and/or any other stock exchange’s Clearing Corporation.

An investor who has sold Units should instruct his/her/its Depository Participant (DP) to give ‘Delivery Out’ instructions
to transfer the Units from his/her/its beneficiary account to the Pool Account of his/her/its trading member through
whom he/she/it have sold the Units. The details of the Pool A/C (CMBP-ID) of his/her trading member to which the
Units are to be transferred, Unit quantity etc. should be mentioned in the Delivery Out instructions given by him/her
to the DP. The instructions should be given well before the prescribed securities pay-in day. SEBI has advised that
the Delivery Out instructions should be given at least 24 hours prior to the cut-off time for the prescribed securities
pay-in to avoid any rejection of instructions due to data entry errors, network problems, etc.

Rolling Settlement

As per the SEBI’s circular dated March 4, 2003 to depositaries & custodian, the rolling settlement on T+2 basis for
all trades has commenced from April 1, 2003, onwards.

The pay-in and pay-out days for funds and securities are prescribed as per the Settlement Cycle. A typical Settlement
Cycle of Rolling Settlement is given below:

T The day on which the transaction is executed by a trading member

T+1 Confirmation of all trades including custodial trades.

T+1 Processing and downloading of obligation files to brokers/custodians.

T+1 Pay-in of funds and securities.

T+2 Pay out of funds and securities.

While calculating the days from the Trading Day (Day T), weekend days (i.e. Saturday and Sundays) and bank
holidays are not taken into consideration.

Where can the The applications for redemption and switch out can be submitted at the Official Point of Acceptance. Please refer to
applications for the back cover page for details.
redemption and switch out
be submitted? New / Existing investors can also subscribe during the NFO units from the official website of the AMC i.e.,
www.tatamutualfund.com.

33
 SID - Tata Gold Exchange Traded Fund

Minimum amount for On Continuous basis

Purchase, Redemption
and switch Subscription / Redemption of Units directly with Mutual Fund:

Market Makers can directly purchase / redeem in Creation Unit Size on any business day.

Direct transaction with AMCs shall be facilitated for investors as per provision no. 3.6.2.1 & 3.6.2.2 of SEBI Master
Circular on Mutual Funds dated May 19, 2023 for redemption or subscription for an amounts greater than Rs.25 Cr
at intra-day NAV based on the actual execution price of the underlying portfolio on all Business Days during the
ongoing offer period. Direct transactions shall be in multiple of Creation Unit size. Such Investors can subscribe /
redeem in Creation Unit size for the scheme in exchange of Portfolio Deposit and Cash Component. However the
said threshold will not be applicable to subscription / redemption made by a) Schemes managed by Employee
Provident Fund Organization, India and b) Recognized Provident Funds, approved gratuity funds and approved
superannuation funds under Income tax Act, 1961, until April 30, 2024 or such other timeline as may be specified by
SEBI. The subscription / redemption by the above-specified investors shall be in creation unit size.

The aforesaid threshold shall not be applicable for MMs (whose names will be available on AMC website).
Subscriptions and Redemption transactions by the MMs shall be in the creation unit size and will be reviewed
periodically.

The requirement of “cut-off” timing for NAV applicability as prescribed by SEBI from time to time shall not be
applicable for direct transaction with AMCs in ETFs by MMs and other eligible investors.

Purchase / Sale of Units on Stock Exchange:

There is no minimum investment, although Units are purchased /sold in round lots of 1 Unit on stock exchange.

Maximum amount for There is no upper limit of redemption. However, redemption amount shall be as specified by SEBI from time to time
redemption and switch- and shall in the size Creation Unit Size.
outs
The Asset Management Company (AMC) may, in the general interest of all Unit holders of the Scheme, keeping in
view the unforeseen circumstances/unsure conditions, limit the total number of Units which may be redeemed on any
Business Day. Restrictions may be imposed under the following circumstances that leads to a systemic crisis or
event that severely constricts market liquidity or the efficient functioning of markets.

a) Liquidity issues - When markets at large become illiquid affecting almost all securities rather than any issuer
specific security.

b) Market failures, exchange closures - When markets are affected by unexpected events which impact the
functioning of exchanges or the regular course of transactions. Such unexpected events could also be related to
political, economic, military, monetary or other emergencies.

c) Operational issues - When exceptional circumstances are caused by force majeure, unpredictable operational
problems and technical failures (e.g., a black out). Under the aforesaid circumstances, the AMC / Trustee may restrict
redemption for a specified period of time not exceeding 10 working days in any 90 days period. Any imposition of
restriction on redemption / switch of units would require specific approval of Board of AMCs and Trustees and the
same should be informed to SEBI immediately. Unitholders should note that the following provisions shall be
applicable when redemption requests are placed during such restricted period.

i) No redemption requests upto Rs. 2 lakhs shall be subject to such restriction and

ii) Where redemption requests are above Rs. 2 lakhs, AMCs shall redeem the first Rs. 2 lakhs without such
restriction and remaining part over and above Rs. 2 lakhs shall be subject to such restriction.

Redemption transaction as mentioned above, shall be allowed only during the exceptional circumstances mentioned
in clause ‘Ongoing price for redemption (sale) / repurchase / by investors.

Minimum balance to be There is no minimum balance requirement for the scheme. (CSO 36) (50)
maintained and
consequences of non-
maintenance.

Special Products available The Scheme does not offer Systematic Investment Plans, Systematic Transfer Plans or Systematic Withdrawal Plans.

On acceptance of the application for subscription, an allotment confirmation specifying the number of units will be
Accounts Statements sent to the Unit holders either by way of an email and/or SMS at their registered e-mail address and/or mobile number
as the case may be.
(CSO 60) (SO 18)
As the Units of the Scheme are in demat, the holding statement issued by the Depository Participant would be
deemed to be adequate compliance with requirements of SEBI regarding dispatch of statements of account.

Consolidated Account Statement (32)

A single Consolidated Account Statement (CAS) on basis of PAN (PAN of the first holder & pattern of holding, in
case of multiple holding) will be dispatched to unitholders having Mutual Fund investments & holding Demat accounts
by Depositories as per the specified timeline specified by board at the end of the month in which transaction (the
word ‘transaction’ shall include all financial transactions in demat accounts/ Mutual Fund folios of the investor) takes
place.

34
 SID - Tata Gold Exchange Traded Fund

The transfer of redemption or repurchase proceeds to the unitholders shall be made within three working days from
the date of redemption or repurchase.

The redemption cheque will be issued in the name of the first unitholder.
Redemption
For units held in Demat form

Unitholders should submit their valid redemption request to their Depository Participant (DP). The redemption
proceeds will be credited to the bank account of the Unitholder, as per the bank account details recorded with the
DP/ received in the feed file through electronic modes or by forwarding a Cheque / Draft.

Delay in payment of The transfer of redemption or repurchase proceeds to the unitholders shall be made within three working days from
redemption / repurchase the date of redemption or repurchase. In case of failure to despatch redemption proceeds within three working days,
the AMC shall be liable to pay interest to the Unit Holders at such rate as may be specified by SEBI for the period of
such delay (presently @ 15% per annum). The above timelines are subject to the list of exceptional circumstance as
specified below and by SEBI or AMFI from time to time.

Sr. Exceptional Circumstances Additional Time allowed

No.
1 Payment of redemption proceeds through Additional 2 working days.
physical instruments (cheque / DD) where
electronic fund transfer is not possible (such as
old / non-Core Banking account / IFSC non-
available records / IMPS failed records for
reasons like name mismatch*, technical error /
Investor Bank not participating in Electronic Fund
transfers or failure of electronic credit for any
reason which are at the bank’s end.

*Name mismatch typically occurs where the bank

account is held jointly, but the 1st holder in MF
Folio may not be first holder in the bank account
or the investor’s name in MF folio and his/her
bank account may not be exactly identical e.g.,
MF folio is held by A+B, but the bank account is
in the name of B +A; OR the name as per bank
a/c & MF folio are recorded a bit differently e.g.,

(i) Given Name + Middle Name + Surname

(ii) Given Name + Surname
(iii) Surname + Given Name etc.

Note: When payment is made through cheque /

DD, the investor’s bank account details registered
with the RTA shall be printed on the cheque/DD,
so that the amount is paid only through the
investor’s bank account to mitigate the risk of
fraudulent encashment.

2 Redemption in case of funds where payout Additional 1 working day after receiving
schedule of underlying instruments/ funds is proceeds from underlying instruments/
different e.g., Domestic Fund of Funds, Overseas schemes for electronic payouts.
funds, Overseas FOF scheme, wherein the
redemption proceeds can be paid after 1 day of {For physical payouts, i.e., issuance and
payout schedule. dispatch of cheque/ DD, additional days as per
(i) above would also be allowed, after receiving
proceeds from underlying instruments/
schemes}.

For example, in case of Domestic FoFs, where

funds are received on T+3 days, timeline
applicable would be.
a) T+4 days for electronic payment; and
b) T+6 days physical payout.

3 On such days, where it is a bank holiday in some Additional 1 working day following the bank
or all the states, but a business day for the stock holiday(s) in the State where the investor has
exchanges. bank account

4 Exceptional circumstances such a sudden In all such exceptional situations, the timelines
declaration of a business day as a holiday (as it prescribed in provision no. 14.1 & 14.2 of SEBI
happened on the day the famous singer Lata Master Circular on Mutual Fund dated May 19,
Mangeshkar passed away) or as a non-business 2023 shall be counted from the date the
day due to any unexpected reason / Force situation becomes normal.
Majeure events.

35
 SID - Tata Gold Exchange Traded Fund
5 In all such cases where a request for Change of In all such cases, the AMCs / RTAs can make
Bank account has been received just prior to the redemption payment after the cooling off
(upto 10 days prior) OR simultaneously with period of 10 days from the date of receipt of
redemption request. COBM.

The redemption transaction shall be processed

as per the applicable NAV on the basis time
stamp.

The credit may either be given in the existing

bank account or the new bank account post due
diligence within 1 working day after cooling off
period.

6 Need for additional due diligence in instances Additional 3 working days

such as Transmission reported in one fund, but
not in the current fund, proceedings by Income
Tax authorities, Folio under lock/bank lien etc.

How will the Scheme work?

The Scheme offers units for subscription / redemption directly with the Mutual Fund in Creation Unit Size to Market Makers (MMs) & for investors as
per provision no. 3.6.2.1 & 3.6.2.2 of SEBI Master Circular on Mutual Funds dated May 19, 2023 for an amount greater than Rs.25 Cr during the
ongoing offer period. Direct transactions shall be in multiple of Creation Unit size. However the said threshold will not be applicable to subscription /
redemption made by a) Schemes managed by Employee Provident Fund Organization, India and b) Recognized Provident Funds, approved gratuity
funds and approved superannuation funds under Income tax Act, 1961, until April 30, 2024 or such other timeline as may be specified by SEBI. The
subscription / redemption by the above-specified investors shall be in creation unit size.

1. Example of computation of Cash Component for Subscription of Units:

Sr. No. Particulars Amount (Rs) / Unit

A Number of Units subscribed in Creation Unit Size 10,50,000

B Applicable NAV (assumed) per unit for subscription through portfolio deposit Rs. 6.00
C Value of 1 Creation Unit Size (including cash component) (A * B) Rs. 63,00,000
D Previous day closing price (1/10,00,000th of 1 KG gold price) Rs. 5.95
E Portfolio deposit (weight of gold bars) investor brings in 1 kg
F Value of Portfolio Deposit (gold bar of 1 kg) (D * 10,00,000) Rs. 59,50,000
H Cash Component receivable from / (payable to) investor Rs. 3,50,000

2. Example of computation of Cash Component for Redemption of Units:

Sr. No. Particulars Amount (Rs) / Unit

A Number of Units redeemed in Creation Unit Size 10,50,000

B Applicable NAV (assumed) per unit for redemption through portfolio deposit Rs. 6.00
C Value of 1 Creation Unit Size (including cash component) (A * B) Rs. 63,00,000
D Previous day closing price (1/10,00,000th of 1 KG gold price) Rs. 5.95
E Portfolio deposit (weight of gold bars) to be given back to investor 1 kg
F Value of Portfolio Deposit (gold bar of 1 kg) (D * 10,00,000) Rs. 59,50,000
G Cash Component payable to / (receivable from) investor (C - F) Rs. 3,50,000

• Please note that the above tables are given for illustration purposes only.
• Some assumptions have been made with respect to prices of gold and NAV of the Scheme for the sake of portfolio deposit.
• The price of gold does not reflect the current prices of gold.
• The above creation unit is for 10,50,000 units of Tata Gold Exchange Traded Fund.
• Cash component is an indicative amount and will be collected/paid as applicable on the date of purchase/redemption.
• Investor will also pay transaction charges incidental to the unit creation transactions and will be as determined by the AMC at the time of transaction.
• In case of creation subscription / redemption, investors will also bear transactions charges associated with buying / selling / delivery of physical
gold such as transportation charges, brokerage, charges for purity / quality verification, statutory levies, etc.
• Goods & Services Tax (GST), Tax Deducted at source (TDS), Tax Collected at source (TCS), stamp duty shall be as applicable from time to time.

36
 SID - Tata Gold Exchange Traded Fund

C. PERIODIC DISCLOSURES

Net Asset NAV Information (SO 17)

Value
The AMC will calculate and disclose the first NAVs within a period of 5 Business Days from the date of allotment of Units of the
(CSO 40) Scheme. The NAVs will be calculated and disclosed on every Business Day. The AMC will prominently disclose the NAVs under
a separate head on the website of the Fund (www.tatamutualfund.com) and of the Association of Mutual Funds in India-AMFI
(www.amfiindia.com) by 9.00 A.M. on the next Business Day ^. However, due to the inability to capture the same day valuation of
underlying investments, the NAV shall be disclosed by 11 P.M. of the next business day^. (CSO 41)
This is the
value per unit ^ Note: If the NAVs are not available before the commencement of Business Hours on the following day due to any reason, the
of the Mutual Fund shall issue a press release giving reasons for the delay and explain by when the Mutual Fund would be able to publish
scheme on a the NAV.
particular
day. You can Investor may write to AMC for availing facility of receiving the latest NAVs through SMS.
ascertain the
value of your For transactions by Market Maker / other eligible Investors as per provision no. 3.6.2 of SEBI Master Circular on Mutual Fund dated
investments May 19, 2023, referring to the provision no. 8.7 of SEBI Master Circular on Mutual Fund dated May 19, 2023, directly with the
by multiplying AMCs, intra-day NAV, based on the executed price at which the securities representing the physical gold is purchased / sold shall
the NAV with be applicable.
your unit
balance. Disclosure of indicative Net Asset Value (iNAV)

As per provision no. 3.2.7.1 read with provision no. 3.3.6 of SEBI Master Circular on Mutual Funds dated May 19, 2023, iNAV of
the scheme i.e. the per unit NAV based on the current market value of its portfolio during the trading hours of the scheme, will be
disclosed on a continuous basis on the Stock Exchange(s), where the units of the scheme are listed and traded and will be updated
based on the latest available data for Gold. Accordingly, iNAV disclosed for the scheme may either be static or dynamic depending
upon the availability of the underlying price.

Illustration of Calculation of Sale & Repurchase Price:

Assumed NAV Rs. 11.00 per unit

Entry Load: NIL
Exit Load 1%
Sale Price = NAV + (Entry Load (%) * NAV)
Sale Price = 11 + (0% * 11)
Sale Price = 11 + 0
Sale Price = Rs. 11/-
Repurchase Price
Repurchase Price = NAV – (exit load (%) * NAV)
Repurchase Price = 11 – (1%*11)
Repurchase Price = 11 – 0.11
Repurchase Price = Rs.10.89

In the event NAV cannot be calculated and / or published, such as because of the suspension of RBI Clearing, Bank strikes, during
the existence of a state of emergency and / or a breakdown in communications, the Board of Trustees may temporarily suspend
determination and / or publication of the NAV of the Units.

While determining the price of the units, the fund will ensure that the repurchase price is not lower than 95 per cent of the Net
Asset Value. (CSO 47)

Portfolio Portfolio Disclosure: (42)

Disclosures
/ Half Yearly Tata Mutual Fund will disclose portfolio (along with ISIN) in user friendly and downloadable spreadsheet format, as on the last day
Financial of the month/half year for all their schemes on its website www.tatamutualfund.com and on the website of AMFI
Results www.amfiindia.com within 10 days from the close of each month/half year. Disclosure of risk-o-meter of scheme, benchmark and
portfolio details to the investors will be disclosed as mandated by provision no. 5.16 & 5.17 of SEBI Master Circular on Mutual
Fund dated May 19, 2023.

This is a list of In case of unitholders whose email addresses are registered, Tata Mutual Fund will send via email both the monthly and half yearly
securities statement of scheme portfolio within 10 days from the close of each month /half year respectively.
where the
corpus of the Tata Mutual Fund will publish an advertisement every half-year, in the all India edition of at least two daily newspapers, one each
scheme is in English and Hindi, disclosing the hosting of the half yearly statement of the schemes portfolio on the AMC’s website
currently www.tatamutualfund.com and on the website of AMFI (www.amfiindia.com). Tata Mutual Fund will provide physical copy of the
invested. The statement of scheme portfolio without any cost, on specific request received from a unitholder.
market value
of these Unaudited Financial Results:
investments Tata Mutual Fund/ Tata Asset Management Pvt Ltd shall within one month from the close of each half year, that is on 31st March
is also stated & on 30th September, host a soft copy of its unaudited financial results on its website in the format specified in Twelfth Schedule
in portfolio of SEBI (Mutual Funds) Regulations 1996.
disclosures.
Tata Mutual Fund / Tata Asset Management Pvt Ltd shall publish an advertisement disclosing the hosting of such financial results
on their website, in atleast one English daily newspaper having nationwide circulation & in a newspaper having wide circulation
published in the language of the region where the Head Office of the fund is situated.

37
 SID - Tata Gold Exchange Traded Fund
Annual report or Abridged Summary, in the format prescribed by SEBI, will be hosted on AMC’s website www.tatamutualfund.com
Annual
and on the website of AMFI www.amfiindia.com.
Report
The scheme wise annual report or an abridged summary thereof, in the format prescribed, shall be sent by way of e-mail to the
(31) investor’s registered e-mail address not later than four months from the date of closure of the relevant accounts year.
Investors who have not registered their email id, will have an option of receiving a physical copy of the Annual Report or Abridged
Summary thereof.
Tata Mutual Fund will provide a physical copy of the abridged summary of the Annual Report, without charging any cost, on
specific request received from a unitholder. Physical copies of the report will also be available to the unitholders at the registered
offices at all times.

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

Creation of In case of credit event at issuer level and to deal with liquidity risk, the scheme may create segregated portfolio of debt and money
Segregated market instruments in compliance with the provision no. 4.4 of SEBI Master Circular on Mutual Fund dated May 19, 2023
Portfolio Creation of segregated portfolio shall be subject to guidelines specified by SEBI from time to time and includes the following:
(CSO 53)
(45) 1) Segregated portfolio may be created, in case of a credit event at issuer level i.e., downgrade in credit rating by a SEBI
registered Credit Rating Agency (CRA), as under:
a) Downgrade of a debt or money market instrument to ‘below investment grade’, or
b) Subsequent downgrades of the said instruments from ‘below investment grade’, or
c) Similar such downgrades of a loan rating
2) Creation of segregated portfolio is optional and is at the discretion of the AMC.
3) In case of unrated debt and money market instruments by the scheme of an issuer that does not have any outstanding rated
debt or money market instruments, segregated portfolio may be created only in case of actual default of either the interest or
principal amount. In case of default of unrated debt or money market instruments of an issuer, TAMPL(AMC) will inform AMFI
immediately about the actual default by the issuer. Pursuant to dissemination of information by AMFI about actual default,
AMC may segregate the portfolio of debt and money market instruments.
4) In case, debt schemes which have investment in debt investments having special features is to be written off or converted to
equity pursuant to any approval, the date of said proposal may be treated as trigger date. However, in case the instruments
are written off or converted to equity without proposal, the date of write off or conversion of debt instrument to equity may be
treated as trigger date.
Process for Creation of Segregated Portfolio
1) On the date of credit event, TAMPL(AMC) shall decide on creation of segregated portfolio. Once AMC decides to segregate
portfolio, it should:
a) seek approval of trustees prior to creation of the segregated portfolio.
b) immediately issue a press release disclosing its intention to segregate such debt and money market instrument and its
impact on the investors. The mutual fund should also disclose that the segregation shall be subject to trustee approval.
Additionally, the said press release shall be prominently disclosed on the website of the AMC.
c) ensure that till the time the trustee approval is received, which in no case shall exceed 1 business day from the day of
credit event, the subscription and redemption in the scheme shall be suspended for processing with respect to creation
of units and payment on redemptions.
2) Once trustee approval is received by the AMC:
a) Segregated portfolio will be effective from the day of credit event
b) AMC shall issue a press release immediately with all relevant information pertaining to the segregated portfolio. The said
information shall also be submitted to SEBI.
c) An e-mail or SMS should be sent to all unit holders of the concerned scheme.
d) The NAV of both segregated and main portfolios shall be disclosed from the day of the credit event.
e) All existing investors in the scheme as on the day of the credit event shall be allotted equal number of units in the
segregated portfolio as held in the main portfolio.
f) No redemption and subscription will be allowed in the segregated portfolio. However, upon recovery of any money from
segregated portfolio, it should be immediately distributed to the investors in proportion to their holding in the segregated
portfolio.
g) AMC should enable listing of units of segregated portfolio on the recognized stock exchange within 10 working days of
creation of segregated portfolio and also enable transfer of such units on receipt of transfer requests
h) Investors redeeming their units will get redemption proceeds based on the NAV of main portfolio and will continue to
hold the units of segregated portfolio.
3) If the trustees do not approve the proposal to segregate portfolio, AMC should issue a press release immediately
informing investors of the same.

38
 SID - Tata Gold Exchange Traded Fund
4) In case trustees do not approve the proposal of segregated portfolio, subscription and redemption applications will be
processed based on the NAV of total portfolio
TER for the Segregated Portfolio
1) AMC shall not charge investment and advisory fees on the segregated portfolio. However, TER (excluding the investment
and advisory fees) can be charged, on a pro-rata basis only upon recovery of the investments in segregated portfolio.
2) The TER so levied shall not exceed the simple average of such expenses (excluding the investment and advisory fees)
charged on daily basis on the main portfolio (in % terms) during the period for which the segregated portfolio was in
existence.in addition to the TER mentioned above, the legal charges related to recovery of the investments of the segregated
portfolio may be charged to the segregated portfolio as mentioned below.
3) The legal charges related to recovery of the investments of the segregated portfolio may be charged to the segregated
portfolio in proportion to the amount of recovery. However, the same shall be within the maximum TER limit as applicable to
the main portfolio. The legal charges in excess of the TER limits, if any, shall be borne by the AMC.
4) The costs related to segregated portfolio shall in no case be charged to the main portfolio.
Explanations:
1) The term ‘segregated portfolio’ shall mean a portfolio, comprising of debt or money market instrument affected by a credit
event, that has been segregated in a mutual fund scheme.
2) The term ‘main portfolio’ shall mean the scheme portfolio excluding the segregated portfolio.
3) The term ‘total portfolio’ shall mean the scheme portfolio including the securities affected by the credit event.

Illustration of Segregated Portfolio

Portfolio Date 31-March -2024
Downgrade Event Date 31-March-2024
Downgrade Security 7.65% C Ltd from AA+ to B
Valuation Marked Down 25%

Mr. X is holding 1000 Units of the Scheme, amounting to (1000*15.0573) Rs.15057.30

Portfolio Before Segregation of portfolio

Market
Type of % Of
Price Value
Security Rating the Qty Net
Per Unit (Rs. in
Security Assets
Lacs)
7.80% A FINANCE
LTD CRISIL AAA NCD 3200000 102.812 3289.98 21.850

7.70 % B LTD CRISIL AAA NCD 3230000 98.5139 3182.00 21.133

7.65 % C Ltd CRISIL B* NCD 3200000 73.843 2362.97 15.693

7.00 % D Ltd ICRA A1+ CP 3200000 98.3641 3147.65 20.904

7.65 % E LTD CRISIL AA NCD 3000000 98.6757 2960.27 19.660

Cash / Cash Equivalents 114.47 0.760

Net Assets 15057.34
Unit Capital (no of units) 1000.00
NAV (Rs.) 15.0573

* Marked down by 25% on the date of credit event. Before Mark down, let us assume the security
was valued at Rs.98.4570 per unit. On the date of credit event i.e., on 31st March 2022, NCD of C
Ltd (7.65%) will be segregated as separate portfolio.

Main Portfolio as on 31st March 2024

Market
Type of % Of
Price Value
Security Rating the Qty Net
Per Unit (Rs. in
Security Assets
Lacs)

7.80% A FINANCE LTD CRISIL AAA NCD 3200000 102.812 3289.98 21.850

7.70 % B LTD CRISIL AAA NCD 3230000 98.5139 3182.00 21.133

7.00% D Ltd ICRA A1+ CP 3200000 98.3641 3147.65 20.904

7.65 %E LTD CRISIL AA NCD 3000000 98.6757 2960.27 19.660

Cash / Cash Equivalents 114.47 0.760

39
 SID - Tata Gold Exchange Traded Fund
Net
Assets 12694.37

Unit Capital (no of units) 1000.00

NAV(Rs.) 12.6944

Segregated Portfolio as on 31st March 2024

Price Market
Type of the % Of Net
Security Rating Qty Per Value (Rs.
Security Assets
Unit in Lacs)

7.65 % C Ltd CRISIL B* NCD 3200000 73.843 2362.97 15.693

Unit Capital (no of units) 1000.00
NAV(Rs) 2.3630

* Marked down by 25% on the date of credit event. Before Mark down, let us assume the security was valued
at Rs.98.4570 per unit. On the date of credit event i.e., on 31st March 2022, NCD of C Ltd (7.65%) will be
segregated as separate portfolio.

Value of Holding of Mr. X after creation of Segregated Portfolio

Main
Segregated Portfolio Total Value (Rs.)
Portfolio
No of units 1000 1000
NAV 2.3630 12.6944
Total value (Rs.) 2362.97 12694.33 15057.30

Monitoring by Trustees:
In order to ensure timely recovery of investments of the segregated portfolio, trustees shall ensure that:

• The AMC puts in sincere efforts to recover the investments of the segregated portfolio.

• Upon recovery of money, whether partial or full, it shall be immediately distributed to the investors in proportion to their holding
in the segregated portfolio. Any recovery of amount of the security in the segregated portfolio even after the write off shall be
distributed to the investors of the segregated portfolio.

• An Action Taken Report (ATR) on the efforts made by the AMC to recover the investments of the segregated portfolio shall
be placed in every Trustee meeting till the investments are fully recovered/written-off.

• Trustees will monitor the compliance of the provision no. 4.4 of SEBI Master Circular on Mutual Fund dated May 19, 2023in
respect of creation of segregated portfolio and disclosure in this respect shall be made in Half-Yearly Trustee reports filed with
SEBI.

In order to avoid misuse of segregated portfolio, Trustees shall ensure to have a mechanism in place to negatively impact the
performance of Fund Managers, Chief Investment Officers (CIOs), etc. involved in the investment process of securities under
the segregated portfolio. The new mechanism shall mirror the existing mechanism for performance incentives of the AMC,
including the claw back of such amount to the segregated portfolio of the Scheme.

Disclosures:
1) A Statement of Holding indicating the units held by the investors in the segregated portfolio along with the NAV of both
segregated portfolio and main portfolio as on the day of credit event shall be communicated within 5 working days of creation
of the segregated portfolio.
2) AMC will make necessary disclosures as mandated by SEBI, in statement of account, monthly / half yearly portfolio
statements, Key Information Memorandum (KIM), SID, Scheme Advertisements, Scheme Performance data, AMC Website and
at other places as may be specified.
3)The NAV of the segregated portfolio shall be declared on daily basis.
4) The information regarding number of segregated portfolio created in the scheme will appear predominantly under the name
of the scheme at all relevant places such as SID, KIM cum application form, advertisement, AMC & AMFI website.
5)The scheme performance required to be disclosed in case of segregated portfolio will include the impact of creation of
segregated portfolio. The scheme performance will clearly reflect the fall in NAV to the extent of the portfolio segregated due to
the credit event and said NAV and any recovery will also be disclosed as footnote to the scheme performance.
6) The above disclosures (No 4 & 5) will be carried out for a period of at least 3 years after the investments in segregated
portfolio are fully recovered/ written-off.
7) Investors will be duly informed about the recovery proceedings and TAMPL may provide status update at the time of recovery
and also at the time of writing -off of the segregated securities.

40
 SID - Tata Gold Exchange Traded Fund
Additional The Funds shall disclose the following on monthly basis:
Disclosure
Norms i. Name and exposure to top 7 issuers and stocks respectively as a percentage of NAV of the scheme
ii. Name and exposure to top 7 groups as a percentage of NAV of the scheme.
iii. Name and exposure to top 4 sectors as a percentage of NAV of the scheme.
Change in constituents of the index, if any, will be disclosed on the website on the day of change.
As per provision no. 3.2.7.1 read with provision no. 3.3.9 & 3.6.3 of SEBI Master Circular on Mutual Funds dated May 19, 2023,
the scheme will comply with the provision of Tracking Error & Tracking Difference as specified below: (CSO 39)

Tracking Error (56)

The annualized standard deviation of the difference in daily returns between the underlying benchmark and the NAV of the
ETFs/Index Funds based on past one year rolling data shall not exceed 2%. In case of unavoidable circumstances in the nature
of force majeure, which are beyond the control of the AMCs, the tracking error may exceed 2% and the same shall be brought to
the notice of Trustees with corrective actions taken by the AMC, if any.

ETFs in existence for a period of less than one year, the annualized standard deviation shall be calculated based on available
data.

As per provision no. 3.2.7.1 read with provision no. 3.3.10 of SEBI Master Circular on Mutual Funds dated May 19, 2023, the
Funds, shall disclose the tracking error based on past one year rolling data, on a daily basis, on the website of Tata Mutual Fund
and AMFI

Tracking Difference (56)

As per provision no. 3.2.7.1 read with provision no. 3.3.10 of SEBI Master Circular on Mutual Funds dated May 19, 2023, along
with tracking error, tracking difference i.e., the annualized difference of daily returns between the index and the NAV of the
ETF/Index Fund shall be disclosed on the website of Tata Mutual Fund and AMFI, on a monthly basis, for tenures 1 year, 3 year,
5 year, 10 year and since the date of allotment of units.
As per SEBI guidelines, based on the internal assessment of the Scheme Characteristics or model portfolio, Mutual Funds shall
Risk O Meter assign risk level for schemes at the time of launch of scheme/New Fund Offer.
& Scheme
Summary The current Risk O Meter of the scheme is based on the internal assessment.
Document
Risk-o-meter shall be evaluated on a monthly basis and AMC shall disclose the Risk-o-meter along with portfolio disclosure for all
(CSO 38) schemes on the website and on AMFI website within 10 days from the close of each month. Any change in risk-o-meter shall be
communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of the schemes.

Mutual Funds shall disclose the risk level of schemes as on March 31 of every year, along with number of times the risk level has
changed over the year, on their website and AMFI website. Mutual Funds shall also publish scheme wise changes in Risk-o-meter
in scheme wise Annual Reports and Abridged summary.

As per provision no. 1.2 of SEBI Master Circular on Mutual Fund dated May 19, 2023 & SEBI letter SEBI/ HO/ OW/ IMD-II/ DOF3/
P/ 39700/ 2021 dated December 28, 2021 w.r.t advisory to introduce a Scheme Summary Document & further to AMFI letter
AMFI/17/SEBI/134/2021-22 March 21, 2022, AMCs shall upload the scheme summary document on AMFI Portal.

Associate
Please refer to Statement of Additional Information (SAI).
Transactions

Investor The AMC has designated an Investor Relations Officer to look into investor grievances regarding deficiencies, if any, in the services
services provided by the Registrars or the Investor Service Centres.

Name of the Investor Relations Officer:

Ms. Kashmira Kalwachwala

Tata Asset Management Pvt Ltd. (Investment Manager for Tata Mutual Fund) 1903 B Wing Parinee Crescenzo G Block BKC
Bandra East, Mumbai – 400 051. Call: (022) 6282 7777 (Monday to Saturday 9:00 am to 5:30 pm), Fax: 22613782, Email:
[email protected], Website: www.tatamutualfund.com

Email: [email protected]

The AMC will have the discretion to change the Investor Relations’ Officer depending on operational necessities and in
the overall interest of the fund.

41
 SID - Tata Gold Exchange Traded Fund
Taxation
As per provision no. 3.2.7.1 read with provision no. 3.3.10.5 of SEBI Master Circular on Mutual Funds dated May 19, 2023, the applicable tax provisions
are as under:
The information is provided for general information only. However, in view of the individual nature of the implications, each investor is advised to
consult his or her own tax advisors with respect to the specific amount of tax and other implications arising out of his or her participation in the
Schemes.
The Finance Act, 2020 abolished income distribution tax and instead introduced taxing of income from mutual fund units in the hands of the unit holders.

Type of Investor Withholding taxrate

Resident 10%*
NRI 20%** or rate as per applicable tax treaty*** (whichever
is lower)

* Tax not deductible if dividend income in respect of units of a mutual fund is below Rs. 5,000 in a financial year.
** The base tax is to be further increased by surcharge at the rate of:
▪ 37% on base tax where income or aggregate of such income exceeds Rs. 5 crore;
▪ 25% where income or aggregate of such income exceeds Rs. 2 crore but does not exceed Rs. 5 crore;
▪ 15% where income or aggregate of such income exceeds Rs. 1 crore but does not exceed Rs. 2 crore; and
▪ 10% where income or aggregate of such income exceeds Rs. 50 lakhs but does not exceed Rs. 1 crore
In case investor is falling under ‘New Regime’, the rate of surcharge not to exceed 25%.
Further, “Health and Education Cess” is to be levied at 4% on aggregate of base tax and surcharge.
*** The income distributed by mutual fund to unitholders is unlikely to fall within the definition of dividend under the tax treaty. Given this and the
language of the newly inserted proviso to section 196A, claiming tax treaty benefit in respect of income distributed by mutual fund to unitholders for
withholding tax purpose may not be possible.
As per the Explanation to Section 112A of Income Tax Act 1961, an equity-oriented fund is defined as a fund whose inventible funds are invested in
equity shares of domestic companies listed on a recognised stock exchange to the extent of atleast 65% or more of the total proceeds of such fund.
The percentage of equity shareholding of the fund shall be computed with reference to the annual average of the monthly average of the opening and
closing figures.
This scheme not been an equity-oriented scheme as stated above, will fall under “Other than Equity Oriented Funds or Non-Equity-Oriented Funds”.

Tax on Capital Gains ( Payable by the Investors)

Rate of Capital Gain Tax
Individual/ HUF $ Domestic Company @ NRI $ (including
withholding tax rate
for NRI)
Short Term Capital Gain
As per relevant Slab of Total
( Units held for 36 months orless) 30%/25%^^/22%^^^/15%^^^^ 30%^
Income chargeable to Tax
(Including specified mutual fund schemes –
Note 1)
Long Term Capital Gain (Units held for 20% 20% Listed - 20%
more than 36 months) (Not applicable for Unlisted - 10%**
specified mutual fund schemes – Note 1)

Note 1 – As per Finance Act, 2023, capital gains from transfer of units of “specified mutual fund schemes” acquired on or after 1 st April 2023 are
treated as short term capital gains taxable at applicable slab rates as provided above irrespective of the period of holding of such mutual fund units. For
this purpose, “specified mutual fund” means mutual fund where not more than 35 per cent of its total proceeds is invested in the equity shares of
domestic companies.

$Surcharge to be levied at:

□ 37% on base tax where specified income** exceeds Rs. 5 crore;

□ 25% where specified income** exceeds Rs. 2 crore but does not exceed Rs. 5 crore;
□ 15% where total income exceeds Rs. 1 crore but does not exceed Rs. 2 crore; and
□ 10% where total income exceeds Rs. 50 lakhs but does not exceed Rs. 1 crore.

In case total income includes income by way of dividend on shares and short-term capital gains on units of equity oriented mutual fund schemes and
long-term capital gains on mutual fund schemes, the rate of surcharge on the said type of income not to exceed 15%. In case investor is falling under
‘New Regime’, the rate of surcharge not to exceed 25%.

**Specified income – Total income excluding income by way of dividend on shares and short-term capital gains on units of equity oriented mutual
fund schemes and long-term capital gains on mutual fund schemes.

Further, Health and Education Cess to be levied at the rate of 4% on aggregate of base tax and surcharge.

@ Surcharge at 7% on base tax is applicable where total income of domestic corporate unit holders exceeds Rs 1 crore but does not exceed 10
crores and at 12% where total income exceeds 10 crores. However, surcharge at flat rate of 10 percent to be levied on base tax for the companies
opting for lower rate of tax of 22%/15%. Further, “Health and Education Cess” to be levied at therate of 4% on aggregate of base tax and
surcharge.

** Without indexation.
^ Assuming the investor falls into highest tax bracket.
42
 SID - Tata Gold Exchange Traded Fund
^^ If total turnover or gross receipts in the financial year 2021-22 does not exceed Rs. 400 crores.
^^^ This lower rate is optional and subject to fulfillment of certain conditions as provided in section 115BAA.
^^^^ This lower rate is optional for companies engaged in manufacturing business (set-up & registered on or after 1 October 2019) subject to fulfillment
of certain conditions as provided in section 115BAB.

Further, the domestic companies are subject to minimum alternate tax (except for those who opt for lower rate of tax of 22%/15%) not specified
in above tax rates.

As per section 139AA of the Income tax Act, 1961 (‘the Act’) read with rule 114AAA of the Income-tax Rules, 1962, in the case of a resident person,
whose PAN has become inoperative due to non linking of PAN with Aadhaar, it shall be deemed that he has not furnished the PAN and tax could
be withheld at a higher rate of 20% as per section 206AA of the Act. For linking PAN with Aadhaar after 31 March 2022, fees Rs. 500 till 30 June
2022 and Rs. 1,000 thereafter has been prescribed.

All are required investors to ensure linking of their PAN with Aadhaar number for continual and smooth transactions in securities market and to avoid
consequences of non-compliance, as such accounts would be considered non-KYC compliant, and there could be restrictions on securities and
other transactions until the PAN and Aadhaar are linked.

Short term/ long term capital gain tax (along with applicable Surcharge and Health and Education Cess) will be deducted at the time of redemption of
units in case of NRI investors.

As per section 206AB, tax to be deducted at twice the applicable rate in case of payments to specified person (except non-resident not having
permanent establishment in India or person who is not required to furnish the return of income as notified by the Central Government) who has not
furnished the return of income for the assessment year relevant to previous year immediately preceding the financial year in which tax is required to
be deducted:
• For which time limit for filing return has expired; and
• The aggregate of tax deducted at source or tax collected at source in his case is Rs. 50,000 or more in the said previous year.
Additionally, if provisions of section 206AA are also applicable then tax to be deducted at higher of the two rates provided i.e. rate as per section
206AB or section 206AA.

Wherever applicable, Tax Deducted at Source, Tax Collected at Source & GST related provisions on ETFs, gold & gold related instruments shall
apply as per the Act, Rules & Regulations from time to time.

Stamp Duty

With effect from 1st July 2020 a stamp duty @ 0.005% of the transaction value would be levied on mutual fund investment transactions. Accordingly
at the time of subscription / switch in investor will pay applicable stamp duty in addition to the cash component.

If any tax liability arising post redemption on account of change in tax treatment with respect to Capital Gain Tax, by the tax authorities, shall be solely
borne by the investors and not by the AMC or Trustee Company.
For further details on taxation please refer the clause on taxation in SAI.

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

D. COMPUTATION OF NAV (CSO 42)

Net Asset Value (“NAV”) of the Units shall be determined daily as of the close of each Business Day on which the National Stock Exchange (NSE) is
open.
NAV shall be calculated in accordance with the following formula:

Market Value of Scheme’s Investments + Accrued Income + Receivables + Other Assets - Accrued Expenses - Payables - Other Liabilities
NAV= _______________________________________________________________________________________________________________
Number of Units Outstanding

The computation of Net Asset Value, valuation of Assets*, computation of applicable Net Asset Value (related price) for ongoing Sale, Redemption,
Switch and their frequency of disclosure shall be based upon a formula in accordance with the Regulations and as amended from time to time including
by way of Circulars, Press Releases, or Notifications issued by SEBI or the Government of India to regulate the activities and growth of Mutual Funds.
The NAVs of the fund shall be rounded off upto four decimals.

The valuation of investments shall be based on the principles of fair valuation specified in Schedule VIII of the SEBI (Mutual Funds) Regulations, 1996
and guidelines issued by SEBI /AMFI from time to time. * Please refer Para V. of SAI on ‘Investment valuation norms for securities & other assets for
details. (34)
IV. FEES AND EXPENSES

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.

In accordance with the provision of SEBI , the NFO expenses shall be borne by the AMC.

43
 SID - Tata Gold Exchange Traded Fund

B. ANNUAL SCHEME RECURRING EXPENSES (36) (44)

A. Fees & Expenses:

The maximum recurring expense of the Scheme is estimated below:

Ref Expenses Head

% Of Daily Net Assets

Investment Management and Advisory Fees

Trustee fee
Audit fees
Custodian fees
RTA Fees
Listing Fees / Index Licensing Fees
Marketing & Selling expense incl. agent commission

Cost related to investor communications

Cost of fund transfer from location to location

Cost of providing account statements and income distribution

redemption cheques and warrants
Upto 1.00%
Costs of statutory Advertisements
Cost towards investor education & awareness (at least 1 bps)
(CSO 43) (55)
Brokerage & transaction cost over and above 12 bps and 5 bps for
cash and derivative market trades resp.
Goods & Services tax on expenses other than investment and
advisory fees
Goods & Services tax on brokerage and transaction cost

Incentive, if any to Market Makers

Other Expenses ^

(a) Maximum total expense ratio (TER) permissible under Upto 1.00%*
Regulation 52 (6) (c) (i) and (6) (a)
(b) Additional expenses for gross new inflows from specified cities 0.30%^
(CSO 46)

^ Any other expenses which are directly attributable to the Scheme, may be charged with approval of the Trustee within the overall limits as specified
in the Regulations except those expenses which are specifically prohibited.
* Excluding Goods & Services Tax on investment and advisory fees
The total expense ratio of the scheme including the investment and advisory fees shall not exceed 1.00 per cent of the daily net assets.
The above expenses are fungible within the overall maximum limit prescribed under SEBI (Mutual Funds) Regulations, 1996, which means there will
be no internal sub-limits on expenses and AMC is free to allocate them within the overall TER.
In terms of Regulation 52(1) of SEBI (Mutual Funds) Regulations, 1996, 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 paid from the scheme only within the regulatory limits and
not from the books of AMC, its associate, sponsor, trustees or any other entity through any route in terms of SEBI circulars, subject to the clarifications
provided by SEBI to AMFI vide letter dated February 21, 2019 on implementation of provision no. 10.1.12 of SEBI Master Circular on Mutual Fund
dated May 19, 2023 on Total Expense Ratio (TER) and performance disclosure for Mutual Fund.

^ Expenses not exceeding of 0.30 per cent of daily net assets, if the new inflows from such cities as specified by SEBI from time to time are at least:
(i) 30 per cent of gross new inflows in the scheme, or.
(ii) 15 per cent of the average assets under management (year to date) of the scheme, whichever is higher:
Provided that if inflows from such cities is less than the higher of sub-clause (i) or sub- clause (ii), such expenses on daily net assets of the
scheme shall be charged on proportionate basis:
Provided further that expenses charged under this clause shall be utilised for distribution expenses incurred for bringing inflows from such
cities:
Provided further that amount incurred as expense on account of inflows from such cities shall be credited back to the scheme in case the
said inflows are redeemed within a period of one year from the date of investment.
44
 SID - Tata Gold Exchange Traded Fund
Additional TER can be charged based on inflows only from retail investors (i. e other than corporates and institutions) from B 30 cities
defined as per provision no. 10.1.3 of SEBI Master Circular on Mutual Fund dated May 19, 2023.Retail Investor means transaction from
individual investors where inflow is upto Rs. 2,00,000/- per transaction.

Notes:

1) Brokerage & transaction costs (including tax) which are incurred for the purpose of execution of trade may be capitalised to the extent of 12bps
and 5bps for cash market transactions and derivatives transactions respectively. GST on brokerage and transaction cost paid for execution of
trades shall be within the limit prescribed under regulation 52 of the SEBI (Mutual Funds) Regulations, 1996. Any payment towards brokerage
and transaction cost, over and above the said 12 bps and 5bps for cash market transactions and derivatives transactions respectively may be
charged to the scheme within the maximum limit of Total Expense Ratio (TER) as prescribed under regulation 52 of the SEBI (Mutual Funds)
Regulations, 1996.
2) AMC shall annually set apart atleast 1 basis point on daily net assets for investor’s education and awareness initiatives.
3) Incentives, if any, to Market Makers shall be charged to the scheme within the maximum permissible limit of TER.
4) The fund shall update the current expense ratios on the website( www.tatamutualfund.com) at least three working days prior to the effective date
of the change. The exact web link for TER is http://www.tatamutualfund.com/our-funds/total-expense-ratio.
5) Illustration of impact of expense ratio on scheme return: (CSO 44) (38)

Particulars Amount
Amount Invested (Rs) 10,000
Gross Returns-assumed 15%
Closing NAV before expenses (Rs.) 11500
Expenses (Rs)
• Expenses Other than Distribution
175
expenses
0
• Distribution Expenses
Total NAV after charging expenses (Rs) 11,325
Net returns to investor 13.25%

C. LOAD STRUCTURE (CSO 47)

A 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. As per provision no. 10.4.1.a of SEBI Master Circular on Mutual Fund dated May 19, 2023, there shall be no
entry load for all Mutual Fund schemes. Applicable tax on exit load, if any, shall be paid out of the exit load proceeds and exit load net of tax, if any,
shall be credited to the scheme.
The Load Structure of the Scheme is given hereunder:

Load chargeable
Type of Load
(as %age of NAV)
Entry Load NIL
Exit Load NIL.

Unitholders can directly approach the AMC for redemption of units of ETFs, for threshold transaction limit as specified by SEBI from time to time
without any exit load, in case of the following scenarios:

i. Traded price (closing price) of the ETF units is at discount of more than 1% to the day end NAV for 7 continuous trading days, or
ii. No quotes for such ETFs are available on stock exchange(s) for 3 consecutive trading days, or
iii. Total bid size on the exchange is less than half of creation units’ size daily, averaged over a period of 7 consecutive trading days.

In case of the above scenarios, applications received from unitholders for redemption up to 3.00 p.m. on any trading day, shall be processed by the
AMC at the closing NAV of the day of receipt of application within the above cut-off time, such instances shall be tracked by AMC on an ongoing basis
and in case if any of the above mentioned scenario arises the same shall be disclosed on the website of the AMC.

The investor is requested to check the prevailing load structure of the scheme before investing.

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

The AMC reserves the right to change/modify exit load, depending upon the circumstances prevailing at any given time. However, any change in the
load structure will be applicable on prospective investment only. At the time of changing the load structure, the AMC will adopt the following measures:
(SO 16)
• The addendum detailing the changes may be attached to Scheme Information Documents and Key Information Memorandum. The addendum
may be circulated to all the distributors/brokers so that same can be attached to all Scheme Information Documents and Key information
memoranda already in stock.
• The investor is requested to check the prevailing load structure of the scheme before investing. For any change in load structure arrangement
may be made to display the addendum in the Scheme Information Document in the form of a notice in all the investor service centers and
distributor/ brokers’ office.
• The introduction of the exit load along with the details may be stamped in the acknowledgement slip issued to the investors on submission of
the application form and may also be disclosed in the statement of accounts issued after the introduction of such load.
• A public notice shall be given in respect of such changed in one English daily newspaper having nationwide circulation as well as in a newspaper
publishes in the language of region where the Head office of Mutual Fund is situated.

45
 SID - Tata Gold Exchange Traded Fund

D. TRANSACTION CHARGES (30)

Pursuant to provision no. 10.5 of SEBI Master Circular on Mutual Fund dated May 19, 2023, transaction charge per subscription of Rs.10, 000/- and
above be allowed to be paid to the distributors of the Tata Mutual Fund Schemes. The transaction charge shall be subject to the following:
1. There shall be no transaction charges on direct investments.
2. For existing investors in a Mutual Fund, the distributor may be paid Rs.100/- as transaction charge per subscription of Rs.10, 000/- and above.
3. For first time investor in Mutual Funds, the distributor may be paid Rs.150/- as transaction charge for subscription of Rs.10, 000/- and above.
4. The transaction charge shall be deducted by the AMC from the subscription amount and paid to the distributor and the balance amount shall
be invested.
5. The statement of account shall clearly state that the net investment as gross subscription less transaction charge and give the number of
units allotted against the net investment.
6. There shall be no transaction charge on subscription below Rs. 10,000/-.
7. There shall be no transaction charge on transactions other than purchases/ subscriptions relating to fresh/additional purchase.
The transaction charges would be deducted only in respect of those transactions where the concern distributor has opted for opt in for levying
transaction charge. In case distributor has chosen ’Opt Out’ of charging the transaction charge, no transaction charge would be deducted from
transactions registered.
It may further be noted that distributors shall have also the option to either opt in or opt out of levying transaction charge based on type of the product.

V. RIGHTS OF UNITHOLDERS
Please refer to SAI 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 (CSO 48) (SO 20)

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. -NIL
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
The contents of the Scheme Information Document including figures, data, yields, etc. have been checked and are factually correct.

Notwithstanding anything contained in this Scheme Information Document, the provisions of the SEBI (Mutual Funds) Regulations, 1996
and circulars issued from time to time will prevail. (CSO 63) (SO 22)

The Trustees have ensured that the Tata Gold Exchange Traded Fund approved by them is a new product offered by Tata Mutual Fund and is not a
minor modification of any existing scheme / fund / product. The Scheme under this Scheme Information Document was approved by the Trustees on
31st July, 2023 and is being filed with SEBI. (CSO 65) (SO 25)

By order
Board of Directors
Tata Asset Management Pvt Limited.

Place: Mumbai
Date: 19th December, 2023 Authorized Signatory

46
Investor Service Centres - AMC OFFICES Call Free : (022) 6282 7777 (Monday to Saturday 9:00 am to 5:30 pm)

West Zone:
Aurangabad: Plot No 66, Bhagya Nagar, Near S T Office, Kranti Chowk Police Station to Employment Office Road, Aurangabad - 431001.
Tel: (0240) 2351591/90. Ahmedabad: 402, ‘Megha House’, Mithakhali - Law Garden Road, Netaji Marg, Ahmedabad - 380 006. Tel.: 079
- 26466080 / 40076949. Bhopal: MF-12, Block-A, Mansarovar Complex, Near Habibganj Railway Station, Bhopal - 462 016. Tel.: 0755 -
2574198 / 4209752. Borivali: Shop No. 1 and 2, Ground Floor, Ganjawalla Residency, Ganjawalla Lane, Borivali West, Mumbai - 400092.
Tel.: 022- 28945923 / 8655421234. Goa: F- 4, 1st Floor, Edcon Tower, Next to Hotel Salida Del Sol, Near Apple Corner, Menezes Braganza
Road, Panaji - Goa - 403 001. Tel.: 7888051135, Fax: 0832-2422135. Gurgaon: Unit No. 209, 2nd Floor, Vipul Agora Mall, Sector 28, M. G.
Road, Gurgaon - 122 001. Indore: 204, D.M. Tower, Race Course Road, Near Zanjeerwala Chourha, Indore - 452 003. Tel.: 0731-4201806,
Fax 0731-4201807. Jabalpur: Office No. 4, 1178, Napier Town, Home Science College Road, Jabalpur - 482 001(M.P.). Tel.: 0761-4074263
Kolhapur: Gemstone Building, Ground Floor, Opposite Parikh Pool North Side, Near Central Bus Stand, Kolhapur - 416001, Maharashtra.
Mumbai: Mulla House, Ground Floor, 51, M. G. Road, Near Flora Fountain, Mumbai - 400 001. Tel: 022- 66505243 / 66505201, Fax: 022-
66315194. Nagpur: 104, Shivaji Complex, Near Times of India, Dharampeth, WHC Road, Nagpur - 440 010, Tel.: 0712 - 6630425 / 6502885.
Nashik: 5, Samriddhi Residency, Opp Hotel City Pride, Tilakwadi, Nashik - 422 002. Tel.: (0253) 2959098, Fax: 0253-2579098. Navsari: Shop
No.1, Swiss Cottage, Ashanagar Main Road, Navsari - 396 445. Tel: 02637 - 281991. Pune: Kohinoor B-Zone, Shop no. 110, 1st Floor, Old
Mumbai-Pune Highway, Near Pimple Petroleum, Above Maharashtra Electronics, Pimpri, Pune - 411 017. Tel.: 020-41204949 / 950. Rajkot:
402, The Imperia, Opp. Shastri Maidan, Limda Chowk, Rajkot - 360 001. Tel: (0281) 2964848 / 849 Surat: G-18, Ground Floor, ITC Building,
Near Majuragate, Ring Road, Surat – 395 002. Tel.: 0261 - 4012140, Fax: 0261-2470326. Thane: Shop No. 9, Konark Tower, Ghantali Devi
Road, Thane (West) - 400 602. Tel.: 022 – 25300912. Vadodara: Emerald One, 314, 3rd Floor, Jetalpur Main Road, Before Jetalpur Bridge,
Jetalpur, Vadodara - 390 007. Tel.: (0265) 2991037, Fax: 0265-6641999.
East Zone:
Bhubaneswar: Room-309, 3rd Floor, Janpath Tower, Ashok Nagar, Bhubaneswar - 751009. Tel.: 0674 -2533818/ 7064678888. Dhanbad:
Shriram Plaza, 2nd Floor, Room No.202 (B), Bank More, Jharkhand, Dhanbad - 826 001. Tel.: 0326-2300304 / 9234302478. Durgapur: 8C,
8th Floor, Pushpanjali, C-71/A, Saheed Khudiram Sarani, City Centre, Durgapur - 713 216. Tel: (0343) 2544463/65. Guwahati: Jain Complex,
4th Floor, Beside Axis Bank, G. S. Road, Guwahati - 781005. Tel: (0361) 2343084. Jamshedpur: Voltas House, Mezzanine Floor, Main Road
Bistupur, Jamshedpur - 831001. Tel.: 0657-2321302 / 363 / 6576911. Kolkata: Apeejay House, Ground Floor, 15, Park Street, Kolkata -
700016. Tel.: (033) 44063300/3301/3331/3319. Fax: 033-4406 3315. Patna: 301, 3rd Floor, Grand Plaza, Frazer Road, Patna - 800 001.
Tel.: (0612) 2216994. Raipur: Shop No. S-10, 2nd Floor, Raheja Tower, Near Fafadhi Chowk, Jail Road, Raipur (Chhattisgarh) 492001. Tel.:
0771-4040069 / 6537340. Ranchi: 406 - A, 4th Floor, Satya Ganga Arcade, Sarjana Chowk, Lalji Hirji Road, Ranchi - 834001. Tel.: 0651-
2210226 / 8235050200.
North Zone:
Ajmer: 02 Floor, Agra Gate Circle, P. R. Marg, Behind Chandak Eye Hospital, Ajmer - 305 001. Tel: (0145) 2625316. Agra: Unit No. 2, 1st
Floor, Block No. 54, Prateek Tower Commercial Complex, Sanjay Place, Agra| - 282002. Tel.:- 0562-2525195. Allahabad: Shop No. 10, Upper
Ground Floor, Vashistha Vinayak Tower, Tashkand Marg, Civil Lines, Allahabad -211 001. Tel.:- 0532-2260974. Amritsar: Mezzanine Floor,
S.C.O – 25, B Block, District Shopping Complex, Ranjit Avenue, Amritsar – 143 001. Tel.: 0183-5011181/5011190. Chandigarh: SCO - 2473-
74, 1st Floor, Sector- 22C, Chandigarh - 160 022. Tel.: 0172-5037205/5087322, Fax: 0172 - 2603770. Dehradun: Shop No. 19, Ground
Floor, Shree Radha Palace, 78, Rajpur Road, Dehradun – 248 001, Uttarakhand. Tel.: 0135-2740877 / 2741877. Gorakhpur: Shop No. 4,
Cross Road Mall, First Floor, A.D. Chowk, Bank Road, Gorakhpur - 273001 (UP). Tel: (0551) 4051010, Mob: 91 8924951944. Jalandhar: Shop
No.32, 5th Floor, City Square Building, Near Kesar Petrol Pump, Jalandhar - 144 001, Tel.: 0181 - 5001024/25. Jaipur: Office Number 52-53,
1 Floor, Laxmi Complex, Subhash Marg, M.I. Road Corner, C Scheme, Jaipur - 302 001. Tel.: 0141 - 5105177 / 78 / 2389387, Fax: 5105178.
Jodhpur: 840, Sanskriti Plaza, Mezzanine Floor, Opp. HDFC Bank, 9th Chopasani Road, Sardarpura, Jodhpur - 342003. Tel: (0291) 2631257.
Kanpur: 4th Floor, Office No. 412 - 413, KAN Chambers, 14 / 113, Civil Lines, Kanpur - 208 001. Tel.: 0512-2306065 / 6066, Fax: 0512 -
2306065. Lucknow: 11 B & 12, Ground Floor, Saran Chamber II, Vikramaditya Marg, 5 Park Road, Lucknow - 226001. Tel: (0522) 4001731
/ 4308904 Ludhiana: Cabin No. 201, 2nd. Floor, SCO 18, Opp Ludhiana Stock Exchange, Feroze Gandhi Market, Ludhiana - 141 001. Tel.:
0161-5089667 / 668, Fax: 0161-2413498. Meerut: G-13, Rama Plaza, Near Bachha Park, Western Kutchery Road, Meerut (U.P.) – 250 001.
Tel.: 0121-4035585. Moradabad: Ground Floor, Near Hotel Rajmahal, Civil Lines, Moradabad – 244 001, Tel.: 0591-2410667. New Delhi: Flat
No. 506 - 507, Kailash Building, 26, Kasturba Gandhi Marg, Connaught Place, New Delhi - 110001. Tel.: 011-66324101/102/103/104/105,
Fax: 011-66303202. Udaipur: 222/16, First Floor, Mumal Tower, Above IDBI Bank, Saheli Marg, Udaipur- 313001. Tel: (0294) 2429371 /
7230029371, Fax: 011-66303202. Varanasi: D-64/127, 2nd Floor, C-H Arihant Complex, Sigra, Varanasi - 221010 Tel.: 0542-2222179 /
2221822.
South Zone:
Bengaluru: 91, Springboard Business Hub Private Ltd. Gopala Krishna Complex, 45/3, Residency Road, MG Road, Shanthala Nagar, Ashok
Nagar, Bengaluru, Karnataka 560025. Tel.: 080 45570100. Fax: 080-22370512. Chennai: 3rd Floor, Sri Bala Vinayagar Square, No.2, North
Boag Road, Near AGS Complex, T Nagar, Chennai - 600 017. Tel.: 044 - 48641878 / 48631868 / 48676454. Fax: 044-43546313. Cochin:
2nd Floor, Ajay Vihar, Near Hotel Avenue Regent, M. G. Road, Cochin - 682 016. Tel.: 0484-4865813 / 814 / 815. Fax: 0484 - 2377581.
Coimbatore: Tulsi Chambers, 195-F, Ground Floor, West T V Swamy Road, R S Puram, Coimbatore – 641002. Tel.: 0422-4365635, Fax:
2546585. Hyderabad: 1st Floor, Nerella House, Nagarjuna Hills, Above Kotak Mahindra Bank, Punjagutta, Hyderabad - 500082. Tel.: 040-
67308989 / 8901 / 8902. Fax: 040-67308990. Hubli: No 19 & 20, 1st Floor, Eureka Junction, T B Road, Hubli – 580029. Tel.: 0836 - 4251510
Fax: 4251510. Kottayam: CSI Ascention Square, Logos Junction, Collectorate P. O., Kottayam - 686 002. Tel.: 0481 2568450. Mangalore:
Essel Towers, 1st Floor, Bunts Hostel Circle, Above UTI Bank, Mangalore - 575 003. Tel.: 0824 - 4260308. Madurai: 1st Floor, Old No.
11B, Opp. Sethupathy Higher Secondary School, North Veli Street, Madurai – 625 001. Tel.: 0452-4246315 Fax: 0452-4246315. Mysore:
CH-16, 1st Floor, Prashanth Plaza, 4th Main, 5th Cross, Saraswathipuram, Mysore - 570009. Tel.: 0821 - 4246676 Fax: 4246676. Salem:
Kandaswarna Shopping Mall, First Floor, 1/194/4, Saradha College Main Road, Fairlands, Salem - 636016, Tamil Nadu. Tel: (0427) 4042028.
Thrissur: 4th Floor, Pathayappura Buildings, Round South, Thrissur - 680 001. Tel.: 0487 - 2423330. Trivandrum: Ground Floor, Sai Kripa
Building, TC-1956/3, Ganapthi Temple Road, Vazhuthacaud, Trivandrum – 695 014. Tel.: 0471 - 4851431. Trichy: C-53/4, Sky Tower, 4th
Floor, 5th Cross, Thillai Nagar, North East, Trichy - 620018. Tel.: (0431) 4024060. Vijaywada: D No: 38-8-42, Plot No - 303, White House
Complex, 3rd Floor, M G Road, Vijayawada - 520010, Tel: (0891) 2503292. Visakhapatnam: Door No: 47-15-13/35, Navaratna Jewel Square,
Shop No. 7, 3rd Floor, Near Khajana to Jyothi Book Depot Station Road, Dwarakanagar, Visakhapatnam - 530016, Tel: (0891) 2503292.
Dec. 2023
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