Issue of Canara Robeco Interval Scheme Units of Face Value of Rs.

10/- each

Canara Robeco Interval Scheme

A Debt Oriented Interval Scheme

Asset Management Company Registrar

Canara Robeco Asset Management Services Ltd. Computer Age Management Services Pvt. Ltd.
Construction House, 4th Floor, 5, 178/10 K. H. Road, Opp. Palmgroove
Walchand Hirachand Marg, Hotel Nungambakkam Chennai 600 034
Ballard Estate, Mumbai - 400 001. Tel No. (044) 39115574, 39115583
Tel. No. (022) 22621371, 66585000 - 5010, Email: enq_@camsonline.com
Fax : 6658 5011/12/13
E-Mail ID : crmf@@cananararobeco.com

This Offer Document sets forth concisely the information about the Canara Robeco Interval Scheme that a prospective investor
should know before investing. The Scheme particulars have been prepared in accordance with the Securities and Exchange Board of
India (Mutual Funds) Regulations, 1996, as amended till date, and filed with SEBI. The Offer Document will remain effective till a
material change occurs and thereafter changes will be filed with SEBI and circulated to the unit holders.

The units being offered for public subscription have not been approved or disapproved by the Securities and Exchange Board of India
nor has Securities and Exchange Board of India certified the accuracy or adequacy of this Offer Document.

The investors are required to read the terms of Offer carefully before investing. Investors are advised to retain the Offer Document for
future reference. The unit holder may also ascertain about any further changes including the Load Structure, after the date of Offer
Document from the Fund or its Sales Offices (Investor Relations Centres) / Distributors / Brokers.

Application forms are available at the Offices of Canara Robeco Asset Management Company Ltd., Agents of Canara Robeco Mutual
Fund and Stock Exchange Brokers

Application forms are available at the Offices of Canara Robeco Asset Management Company Ltd., Agents of Canara Robeco
Mutual Fund and Stock Exchange Brokers

Canara Robeco Mutual Fund

Investment Manager : Canara Robeco Asset Management Co. Ltd.
Construction House, 4th Floor, 5, Walchand Hirachand Marg, Ballard Estate, Mumbai 400 001
Tel.: 6658 5000 - 5010, 6658 5086 Fax: 6658 5012 / 13 www.canararobeco.com
Canara Robeco Interval Scheme
Table of contents

Item no. Index page no.

1. Salient Features of the Scheme............................................................................................ 1

2. Definitions.......................................................................................................................... 2

3. Risk Factors ........................................................................................................................ 3

4. Constitution of the Fund...................................................................................................... 5

5. Management of the Fund.................................................................................................... 7

6. Past Schemes ..................................................................................................................... 9

7. Investment Objectives & Policies ........................................................................................ 10

8. Units on offer...................................................................................................................... 16

9. Sale of units........................................................................................................................ 17

10. Returns & Distribution ........................................................................................................ 19

11. Expenses ............................................................................................................................ 20

12. Redemption or Repurchase ................................................................................................. 21

13. Winding up of the Scheme .................................................................................................. 22

14. Tax Provisions..................................................................................................................... 22

15. Net Asset Value and Valuation of Securities.......................................................................... 23

16. Accounting Policies & Standards.......................................................................................... 24

17. Other Terms ....................................................................................................................... 25

18. Investor's Rights and Services .............................................................................................. 25

19. Investor Grievances and Redressal ....................................................................................... 25

20. Penalties and Pending Litigation.......................................................................................... 25

21. Due Diligence by the AMC................................................................................................... 26

Canara Robeco Interval Scheme
1. Salient features of the Scheme Application for subscription / switch-in of units will be accepted only on / during the
defined Specified Transaction Date / Period without entry load.
Name of the Scheme : Canara Robeco Interval Scheme Application for redemption and switch-out are accepted on / during the defined
Type / Category Specified Transaction Date / Period without exit load. However, redemption / switch-
out applications accepted on all other business days are subject to applicable exit
Debt Oriented Interval Scheme comprising of three plans as under : load.
Plan No. of Series In case the Specified Transaction Date / Period happens to be a non-business day, the
Monthly Interval Scheme 1 immediate next business day shall be construed as the Specified Transaction Date /
Period.
Quarterly Interval Scheme 1
Trustees reserve the right to change / alter the Specified Transaction Date / Period
Annual Interval Scheme 1 depending upon the prevailing market conditions and to protect the interest of the
The Fund proposes to launch the Monthly Interval Plan and Quarterly Plan on 21st investors.
January, 2008. Note : The exact date of Specified Transaction Date / Period would depend upon the
date of allotment of the units after the closure of the NFO which in turn would
The New Fund Offer (NFO) of the Monthly and Quarterly Plans opens for subscription depend upon the date of launch of the NFO. The Specified Date/ Period would be
on 21st January, 2008 and closes on 23rd January, 2008. The allotment of units mentioned in the Key Information Memorandum at the time of launch of the NFO.
under the respective plans will be made on 24th January, 2008.
Applicable NAV for Sale of units
The Specified Transaction Period would be 24th of every month for Monthly Interval
Investments under each scheme shall be accepted only on Specified Transaction Date
Plan and 24th of every Quarter (24th April, 24th July, 24th October and 24th Jan'09
/ Period.
and so on) for Quarterly Interval Plan.
a) For applications received up to 3 p.m. along with instruments payable at par at
The New Fund Offer of Annual Plan (covered under this offer document) will be the place of receipt, closing NAV of the same day on which the application is
notified by issuing an addendum / public notice /press release. The relevant Key received shall be applicable.
Information Memorandum and application will be issued at the time of opening of
NFO of the Annual Plan. b) For applications received after 3 p.m. along with instruments payable at par at
the place of receipt, closing NAV of the next business day shall be applicable
Investment Objective provided next business day is declared as Specified Transaction Day. Otherwise
To generate returns and growth of capital by investing in Central and State Govt. the application shall not be accepted for subscription / the amount shall be
securities and other fixed income / debt securities normally maturing within the refunded.
maturity of interval plan to insulate the portfolio from interest rate volatility. Applicable NAV for repurchase of units
Asset Allocation For applications received upto 3.00 p.m. on Specified Redemption Date/Period, same
day's closing NAV shall be applicable without exit load. For applications received after
Instruments % of Investible Risk 3.00 pm. on Specified Redemption Date/Period, closing NAV of the next business day
Funds Profile shall be applicable subject to exit load.
Debt Securities including securitised debt having 100% Medium to For applications received upto 3.00 p.m. on all other business days, same day's
rating above AA or equivalent, Central / State low closing NAV shall be applicable subject to exit load. For applications received after
Govt. Securities and Money Market Instruments 3.00 pm, closing NAV of the next business day shall be applicable subject to exit load.
Plan / Option Liquidity : Liquidity by way of repurchase facility through Investor Relation Centers
(Sales Offices) & R & T Agents .
Under each plan there will be following Options:
Switch-over
1) Retail Plan Switch-over option to the investors within the Fund to/ from other open ended
a) Growth Option b) Dividend Option scheme(s) or to/from new scheme(s) that may be launched from time. Switch out
2) Institutional Plan from the Scheme on any business day, other than the Specified Transaction Date /
a) Growth Option b) Dividend Option Period, will attract applicable exit load. Switch-in to the Scheme only on Specified
Transaction Date / Period will be allowed without entry load.
Minimum Investment
Entry Load / Switch in Load : Nil
Retail Plan : Rs. 5000.00 and thereafter in multiples of Re. 1.00
Exit Load /Switch Out load
Institutional Plan : Rs. 5000000.00 and thereafter Re. 1.00
Monthly Interval Plan :
Minimum Redemption Amount
Nil if redeemed on / during Specified Transaction Date / Period
The minimum redemption amount for the Canara Robeco Interval Scheme is Rs. 0.10% if redeemed at anytime other than Specified Transaction Date / Period
1000.00 and in multiples of Re. 1.00 thereafter
Quarterly Interval Plan
NAV Nil if redeemed on / during Specified Transaction Date / Period
NAV / Repurchase price will be announced on a daily basis, except Saturdays / 0.30% if redeemed at anytime other than Specified Transaction Date / Period
Sundays / Non business days / Public Holidays and during book closure period.
Annual Interval Plan
Specified Transaction Period Nil if redeemed on / during Specified Transaction Date / Period
The Specified Transaction Period is the specified date(s)/ period on / during which 1.00% if redeemed at anytime other than Specified Transaction Date / Period
subscription / redemption /s switches will be made in the Scheme without any load.
The Specified Transaction Day will be once a month / once a quarter / once a year as CDSC : Nil
the case may be under the Monthly/Quarterly/Annual Interval Scheme respectively. Benchmark Index
The Specified Transaction Period would be different for Monthly / Quarter / Annual Monthly Interval Scheme - Crisil Liquid Fund Index
Interval Scheme and would be generally for one day of every month / quarter / year Quarterly Interval Scheme - Crisil Liquid Fund Index
and shall commence after the expiry of one of Month / Quarter / Year from the date Annual Interval Scheme - Composite Short Term Bond Fund Index
of allotment. New Fund Offer Expenses
Such Specified Transaction Period shall be fixed after expiry of :
New Fund Offer expenses will be borne by the Investment Manager.
a) One month from the date of allotment after the closure of the NFO in the case of
Monthly Interval Scheme Scheme Recurring Expenses
b) One Quarter from the date of allotment after the closure of the NFO in the case The Annual Scheme Recurring Expenses of the Scheme is capped at 1% and 0.75%
of Quarterly Interval Scheme under Retail Plan and Institutional Plan respectively.
c) One Year from the date of allotment after the closure of the NFO in the case of
Annual Interval Scheme

1
Canara Robeco Interval Scheme
2. Definition
In this Offer Document, the following words and expressions shall have the meaning
specified herein, unless the context otherwise requires :
Acceptance Date
“Acceptance Date” means the date on which the Trustees or their authorised agent,
as the case may be, after being satisfied that the application is in order, accept the
same.
AMC or Asset Management Company or Investment Manager
AMC means Canara Robeco Asset Management Company Ltd. (CR AMC), a company
formed and registered under the Companies Act, 1956 (1 of 1956) and approved as
such by SEBI to act as an Investment Manager to Canara Robeco Mutual Fund
(CRMF).
AMC Fees
Investment Management fee charged by the AMC to the Scheme.
Applicable NAV
The NAV calculated for the Business Day on which Sale and Repurchase requests
received by the Investment Manager or its authorised agents.
Applicant
“Applicant” means a person who applies for allotment of units of Canara Robeco
Interval Scheme in pursuance of this Offer Document.
Allotment Date
The date on which the units of Canara Robeco Interval Scheme are allotted to the
successful applicants from time to time and includes allotment made pursuant to the
New Fund Offer.
Auditors
Auditors appointed, from time to time, to audit the accounts of Canara Robeco
Interval Scheme
Business Day
A day not being:
(1) A Saturday or Sunday; or
(2) A day on which Banks in Mumbai or the Reserve Bank of India are closed, or
(3) A day on which there is no RBI clearing/settlement of securities; or
(4) A day on which both the Stock Exchanges, Mumbai and the National Stock
Exchange of India Limited are closed, whether or not the banks in Mumbai are
open; or
(5) A day on which Purchase and Redemption of units are suspended or a book
closure period is announced by the Trustee / AMC; or
(6) A day on which normal business cannot be transacted due to storms, floods,
bandhs, strikes or such other events as the AMC may specify from time to time.
Provided that the days when the banks in any location where the AMC's branch
offices are located, are closed due to a local holiday, such days will be treated as non
Business Days at such branches for the purposes of accepting fresh subscriptions.
However, if the branch offices in such locations is open on such local holidays, then
redemption and switch requests will be accepted at those branches, provided it is a
Business Day for the Scheme on an overall basis.
Notwithstanding the above, the AMC reserves the right to change the definition of
Business Day and to declare any day as a Business Day or otherwise at any or all
branch offices.
Canara Bank
Canara Bank, a corporate body constituted under the provisions of the Banking
Companies (Acquisition and Transfer of Undertaking) Act, 1970 and having its
registered office at 112, J. C. Road, Bangalore, 560002.
CBLO
Collateralised Borrowing and Lending Obligations is a Money Market Instrument,
approved by RBI (developed by Clearing Corporation of India Ltd). CBLO is a
discounted instrument issued in an electronic book entry form for maturity ranging
from one day to one year.
CDSC
2
Contingent Deferred Sales Charge (CDSC) is a charge imposed when the units are
redeemed with in 4 years from the date of allotment. The SEBI Regulations mandate
the maximum amount that can be charged in each year.
Custodian
The custodian to Canara Robeco Interval Scheme appointed from time to time.
The Fund
Canara Robeco Mutual Fund (CRMF), a Trust constituted under the Indian Trust Act,
1882 and registered with SEBI as Mutual Fund.
MMI
Money Market Instruments include Commercial Papers, Commercial Bills, Treasury
Bills, Government Securities, having an un-expired maturity up to one year, Call or
Notice Money, Certificate of Deposit, usance Bills and any other like instruments as
specified by the Reserve Bank of India / SEBI, from time to time.
MIBOR
Mumbai Inter-bank Offered Rate
Gilt/Govt. Securities
Central Govt. Securities as defined in Section 2 of the Public Debt Act, 1944 (18 of
1944) and Government Securities created and issued by the State Govt. under the
said Act
Interest Rate Risk
Uncertainty of future market values and of the size of future income caused by
fluctuations in the general level of interest rates.
Interval Scheme
The Scheme that is open for sale or redemption during specified date or specified /
pre-determined intervals.
NAV
The term Net Asset Value (NAV) appearing in this Offer Document means the NAV per
unit of Canara Robeco Interval Scheme
New Fund Offer(NFO)
New Fund Offer means offer of units during the initial offer period.
New Fund Offer Period
The dates on or the period during which the initial subscription to the units of Canara
Robeco Interval Scheme under every series was made as specified in the terms of
offer, subject to early closure or extension, as may be announced. The new fund offer
period for every series shall, however, be of a minimum of 3 days and a maximum of
30 days from the date of opening of the new fund offer.
Offer Document
This Offer Document, offering units of Canara Robeco Interval Scheme to applicants
for subscription.
Person
The word “person” shall include a body corporate, group of individuals, trusts and
other association of persons whether incorporated or not.
RBI
Reserve Bank of India, established under the Reserve Bank of India Act 1934, as
amended from time to time.
Repo
Sale of Govt. Securities with simultaneous agreement to repurchase them at a later
date
Reverse Repo
Purchase of Govt. Securities with a simultaneous agreement to sell them at a later
date.
Robeco Groep N. V.
Robeco Groep N.V. (Robeco) is wholly owned by Rabobank Nederland and is one of
the Sponsors of The Fund.
Registrar & Transfer Agent
The Registrar & Transfer Agent to Canara Robeco Interval Scheme appointed from
time to time.
Canara Robeco Interval Scheme
Settlor
Settlor means Canara Bank who settled and constituted the Fund.
Sponsor(s)
Sponsors means any person(s) who, acting alone or in combination with another
body corporate, establishes a Mutual Fund.
Statement of Account
A non-transferable statement indicating the number of units held by the investor on a
particular date.
Switch Over
Simultaneous applications by a unit holder for repurchase / redemption of units held
by him under one of the Schemes (or a plan under the same Scheme) of Canara
Robeco Mutual Fund with authorisation to the Investment Manager to apply the
repurchase/redemption proceeds, for the purchase of fresh/additional units of
another Scheme (or under another plan of the Scheme of which he is a unit holder) of
Canara Robeco Mutual Fund, which is open for subscription at the time when the
applications are made.
Stock Exchange
Stock Exchange means a Stock Exchange which is for the time being, recognised
under the Securities Contracts (Regulation) Act,1956 (42 of 1956).
SEBI
Securities & Exchange Board of India established under the Securities and Exchange
Board of India Act, 1992, as amended from time to time.
The Scheme
Scheme means Canara Robeco Interval Scheme
Trustees
Trustees means Canara Bank in its Capacity as Principal Trustee and other Trustees
appointed from time to time and include a Trustee Company, if incorporated and the
Directors of such Trustee Company.
Trust Deed
Principal Trust Deed dated 26th September 2007 as amended or restated from time
to time.
The Regulations
Securities & Exchange Board of India (Mutual Funds) Regulations, 1996, as amended
from time to time.
Unit Capital
The aggregate face value of the units issued and outstanding (including fractional
units) under Canara Robeco Interval Scheme
Unit
One undivided share of a unit holder in the assets of Canara Robeco Interval Scheme
Unit holder
A person holding units of Canara Robeco Interval Scheme and includes a person who
has opted to switch over his investment(s), wholly or partially, from another Scheme
or Schemes of the Canara Robeco Mutual Fund to Canara Robeco Interval Scheme in
accordance with the terms of this Offer Document.
Winding up
Winding up of Canara Robeco Interval Scheme under clause 13 of this Offer
Document.
The expressions not defined here shall carry the same meaning, assigned to them in
the Offer Document.
3. Risk Factors
Standard Risk Factors
i. Mutual Funds, like securities investments, are subject to market risks and there
can be no assurance that the Scheme's objectives will be achieved.
ii. As with any investment in securities, the NAV of Units issued under the Scheme
can go up or down depending on the factors and forces affecting Capital / Debt /
Money Markets.
iii. The past performance of the Mutual Fund Schemes managed by the Sponsors
and their affiliates/associates is not necessarily indicative of the future
performance of the Scheme.
iv. The Performance of the Sponsors i.e., CANARA BANK and ROBECO GROEP
N.V.has no bearing on the expected performance of Canara Robeco Mutual Fund
or any of its Schemes.
v. Canara Bank and Robeco Groep N. V., being the Sponsors, are not responsible or
liable for any loss or shortfall resulting from the operations of any Scheme of
Canara Robeco Mutual Fund, beyond the initial contribution made by Canara
Bank of an amount of Rs.10 lakhs towards setting up of the Canara Robeco
Mutual Fund.
Vi. Canara Robeco Interval Scheme is only the name of the Scheme and does not in
any manner indicate either the quality of the Scheme, its future prospects or
returns.
The Mutual Fund is defending and / or has filed cases in the Special Court constituted
under the Special Court (Trial of Offences Relating to Transactions in Securities) Act,
1992 for the claims arising out of scam related transactions. The Fund has taken
necessary steps as legally advised.
Writ Petitions have been filed before the Hon'ble Bombay High Court & Hon'ble
Calcutta High Court, for direction to prohibit Canara Robeco Mutual Fund from
converting the close ended Cantriple+ Scheme into open ended and for direction
regarding payment of three times the original investment.
A criminal complaint was filed by Mr. Dilip Cheriwal before the First Class Judicial
Magistrate, Patna against Canara Robeco Mutual Fund and four of the then Trustees
respectively in Cantriple+ Scheme. A petition filed by one Seth Sagarmal Bagrodia
Charitable Trust against Canara Robeco Mutual Fund and others in Cantriple+
Scheme is also pending before MRTP, New Delhi. These cases are being defended as
legally advised.
Cases are also pending before various Consumer Fora claiming three times the
investment in Cantriple+ Scheme. The cases are at various stages of hearing. The
Fund has taken necessary steps as legally advised.
There are about 32 consumer complaints (including appeals) filed by various parties
against the Fund in respect of the various schemes floated by the Fund, which are
pending. About 40 consumer complaints (including appeals) filed by various parties
against GIC Mutual Fund/GICAMC in respect of the various schemes floated by GIC
Mutual Fund, which are pending. Pursuant to take over of all the GIC Mutual Fund
Schemes by Canara Robeco Mutual Fund with effect from 15.10.2005, the said cases
are being defended by the Fund as legally advised.
In respect of the cases mentioned above, the Fund / Investment Manager will abide
by the final outcome of the case.
Please also refer clause on 'Penalties and Pending Litigation' mentioned elsewhere in
the Offer Document.
Scheme Specific Risk Factors and Considerations
Price-Risk or Interest-Rate Risk : Fixed income securities such as bonds, debentures
and money market instruments run price-risk or interest-rate risk. Generally, when
interest rate rise, prices of existing fixed income securities fall and when interest rates
drop, such prices increase. The extent of fall or rise in the prices is a function of the
existing coupon, days to maturity and the increase or decrease in the level of interest
rates.
Credit Risk : In simple terms this risk means that the issuer of a debenture/bond or a
money market instrument may default on interest payment or even in paying back
the principal amount on maturity. Even where no default occurs, the price of the
security may go down because the credit rating of an issuer goes down. It must,
however, be noted that where the Scheme has invested in Government securities,
there is no credit risk to that extent.
Reinvestment Risk : Investments in fixed income securities may carry reinvestment
risk as interest rates prevailing on the interest or maturity due dates may differ from
the original coupon of the bond. Consequently, the proceeds may get invested at a
lower rate.
Different types of securities in which the Scheme would invest as given in the offer
document carry different levels and types of risk. Accordingly the Scheme's risk may
increase or decrease depending upon its investment pattern e.g. corporate bonds
carries a higher amount of risk than Government securities. Further even among
corporate bonds, bonds which are AA rated are comparatively more risky than bonds
which are AAA rated.
Each plan under the scheme may invest up to 50% of the net asset of the respective
3
Canara Robeco Interval Scheme
plan in domestic securitised debt assets. These assets would be in the nature of
Mortgage Backed Securities (MBS) and Asset Backed Securities (ABS) with underlying
pool of assets and receivables like Housing loans, Auto loans and Corporate loans.
The Fund intends to invest only in securitised instruments rated at least AA (SO) or its
equivalent by a recognised credit rating agency. The securitised debt assets and the
underlying asset classes like Housing loans, Auto loans and Corporate loans have the
following risk factors:
Risk associated with Mortgage Backed Securities (MBS) - Housing Loans
Prepayment Risk : The Fund may receive payment of monthly payouts earlier than
scheduled. Prepayments shorten the life of the instrument to an extent that cannot
be fully predicted. The rate of prepayments may be influenced by a variety of
economic, social and other factors.
Credit Risk : Delinquencies may happen which would reduce the principal amount.
Typically MBS structures come with credit enhancement in variety of forms. If
delinquencies are higher than the amount available in the credit enhancement facility
then the monthly payouts to the Fund would reduce. Historically, it has been
observed that housing loans have lower default rates as compared to other forms of
credit.
Liquidity Risk : Historically the secondary market volume of securitised papers has
been limited. This could limit the ability of the Fund to resell them. Secondary market
trades could be at a discount or premium depending upon the prevailing interest
rates.
Conversion Risk : Conversion of loans from fixed rates to floating rate loans and vice
versa could leadto a change in the expected cash flows from the loans.
Risk associated with Asset Backed Securities (ABS)-Auto loans
Prepayment Risk : The Fund may receive payment of monthly payouts earlier than
scheduled. Prepayments shorten the life of the instrument to an extent that cannot
be fully predicted. The rate of prepayments may be influenced by a variety of
economic, social and other factors. Prepayment in auto loans is lower than housing
loans as the shorter tenor of auto loans makes it economically unattractive to prepay
after considering the prepayment charges.
Credit Risk : Delinquencies may happen which would reduce the principal amount.
Typically ABS structures come with credit enhancement in variety of forms. If
delinquencies are higher than the amount available in the credit enhancement facility
then the monthly payouts to the Fund would reduce. Typically auto loans carry higher
risk than MBS as the value retention of the underlying asset is higher in MBS as
compared to the underlying asset of ABS.
Liquidity Risk : Historically the secondary market volume of securitised papers has
been limited. This could limit the ability of the Fund to resell them. Secondary market
trades could be at a discount or premium depending upon the prevailing interest
rates.
Risk associated with Asset Backed Securities (ABS) - Corporate loans
Credit Risk : The Fund has an exposure to the borrower/borrowers and servicing of
the instrument depends on the credit risk of the borrower. The value of the
instrument would fluctuate depending upon the changes in the perceived level of
credit risk as well as any actual default.
Prepayment Risk : The borrower may prepay the receivables prior to their respective
due dates. This may result in a change in the yield and tenor for the Fund.
Limited Liquidity and Price Risk : Historically the secondary market volume of
securitised papers has been limited. This could limit the ability of the Fund to resell
them. Secondary market trades could be at a discount or premium depending upon
the prevailing interest rates.
Derivatives Risk:
As and when the Scheme trades in the derivatives market, there are risk factors and
issues concerning the use of derivatives that investors should understand. Derivative
products are specialized instruments that require investment techniques and risk
analysis different from those associated with stocks and bonds. The use of a derivative
requires an understanding not only of the underlying instrument but also of the
derivative itself. Derivatives require the maintenance of adequate controls to monitor
the transactions entered into, the ability to assess the risk that a derivative adds to
the portfolio and the ability to forecast price or interest rate movements correctly.
There is a possibility that loss may be sustained by the portfolio as a result of the
failure of another party (usually referred as the "counter party") to comply with the
terms of the derivatives contract. Other risk in using derivatives include the risk of
4
mispricing or improper valuation of derivatives and the inability of derivatives to
correlate perfectly with underlying assets, rates and indices.
Derivatives can be highly leveraged instruments. Even a small price movement in the
underlying security could have a large impact on the value of derivatives. Derivatives
can provide disproportionate gains as well as disproportionate losses to the investor.
Execution of such strategies depends upon the ability of the Fund Manager to identify
such opportunities. Identification and execution of the strategies to be pursued by the
Fund Manager involve uncertainty and decision of Fund Manager may not always be
profitable. No assurance can be given that the Fund Manager will be able to identify
or execute such strategies.
The risk associated with the use of derivatives is different from the risks associated
with investing directly in securities and other traditional investments.
Trading in derivatives has the following risks:
a. An exposure to derivatives in excess of the hedging requirements can lead to
losses.
b. An exposure to derivatives can also limit the profits from a genuine investment
transaction.
c. Efficiency of a derivative market depends on the development of a liquid and
efficient market for the underlying securities.
Risk factors associated with minimum of 20 investors and 25% of corpus
As per the SEBI Circular No. SEBI/IMD/Cir No. 10/22701/03 dated 12.12.2003 and
SEBI/IMD/Cir No. 1/42529/05 dated 14.06.2005, each Scheme should have a
minimum of 20 investors and no single investor should account for more than 25% of
the corpus of such scheme. In case of non-fulfilment with either of the above two
conditions, the scheme shall be wound up by following the guidelines prescribed by
SEBI and the unit holding of the investors would be redeemed at applicable NAV.
Applicability of these guidelines shall be at the portfolio level within the Scheme
In case of New Fund Offering, a three months time period or the end of succeeding
calendar quarter, whichever is earlier, from the close of the New Fund Offering (NFO)
will be available to balance and to ensure compliance with these two conditions. After
the NFO, on an ongoing basis, in each subsequent calendar quarter thereafter, on an
average basis, the scheme should meet with both these conditions.
To determine the breach of the 25% limit by an investor, the average net assets of the
scheme would be calculated daily. At the end of the quarter, the average of daily
holding by each such investor is computed to determine whether that investor has
breached the 25% limit over the quarter. In case of breach, a rebalancing period of
one month would be allowed and thereafter the investor who is in breach of the rule
shall be given 15 days notice to redeem his exposure over the 25% limit. Failure on
the part of the said investor to redeem his exposure over the 25% limit within the
aforesaid 15 days would lead to automatic redemption by the Mutual Fund on the
applicable Net Asset Value on the 15th day of the notice period.
As the plans in the Scheme would be available for redemption / fresh subscription
every month / quarter / year (intervals), the Fund shall ensure that the Scheme
complies with the above regulations with regard to minimum number of investors
each time the Scheme / plan open for fresh subscription.
Other risks
The liquidity of the Scheme's investments inherently restricted by trading volumes
and settlement periods. In the event of an inordinately large number of redemptions
or of a restructuring of the Scheme's investment portfolio, there may be delays in the
redemption of units. Please refer to the section on "Right to limit repurchases" and
"Suspension of sales/repurchase/switching options of the units" in this document.
The value of the Scheme investments may be affected by factors affecting capital
markets generally, such as price and volume volatility in the stock markets, interest
rates, currency exchange rates, foreign investments, changes in government policy,
political, economic or other developments and closure of the stock exchanges.
The NAV of the Scheme will be sensitive to changes in Interest /Bank / Prime Lending
Rates. In case of investment in Money Market Instruments and in Central / State Govt.
Securities by the Scheme, an increase in the Interest / Bank / Prime Lending Rates will
impact the market value of existing investments leading to decrease in the Scheme's
NAV.
Debt securities are subject to the risk of an issuer's inability to meet principal and
interest payments on the obligations (Credit Risk). Debt securities may also be subject
to price volatility due to such factors as interest sensitivity, market perception or
creditworthiness of the issuer and general market liquidity (Market Risk). While it is
Canara Robeco Interval Scheme
the intention of the Investment Manager to invest primarily in highly rated debt Income Distributions for the year/ period :
securities, the Scheme may from time to time invest in higher yielding, lower rated
securities but not below investment grade and also in un-rated securities subject to 2004-2005 2005-2006 2006-2007 01.04.2007
provisions and restrictions laid down by SEBI, which would enhance the degree of risk. [%] [%] [%] to
Scheme Name 31.12.2007
Changes in Government Policy in general and changes in tax benefits applicable to [%]
mutual funds may impact the returns to investors in the Scheme.
Canara Robeco Balance 17.50 15.00@
The NAV of the scheme may be affected by the changes in the general market Canara Robeco Equity Tax Saver 25.00 40.00 60.00
conditions, factors and forces affecting capital market in particular, level of interest
rates, various market related factors, settlement periods and transfer procedures. Canara Robeco Expo 30.00 25.00 25.00 50.00
Canara Robeco CIGO 7.00 7.00@ 13.00@ 14.00@
A Unit Holder may invest in the schemes and acquire a substantial portion of the
scheme units. The repurchase of units by the Unit Holder may have an adverse impact Canara Robeco Gilt 12.25 12.25 12.25
on the units of the schemes, because the timing of such repurchase may impact the Canara Roebco Gilt (PGS) 1.25 2.25@ 6.00@
ability of other Unit holders to repurchase their units.
Canara Robeco Equity Diversified 20.00 25.00 30.00
The tax benefits described in this Offer Document are as available under the present Canara Robeco Emerging Equities 20.00 30.00
taxation laws and are available subject to relevant conditions. The information given
is included only for general purpose and is based on advice received by the AMC Canara Robeco Floating Rate 4.00@
regarding the law and practice currently in force in India and the Investors should be Canara Robeco Nifty Index 75.00
aware that the relevant fiscal rules or their interpretation may change. As is the case
Canara Robeco Infrastructure 20.00
with any investment, there can be no guarantee that the tax position or the proposed
tax position prevailing at the time of an investment in the Scheme will endure Canara Robeco Liquid 4.0150*
indefinitely. In view of the individual nature of tax consequences, each Investor is
advised to consult his/her own professional tax advisor. * From 01.04.2004 to 31.05.2004 @ Pre-tax
The Investment Manager perceives such situations to be exceptional in nature. Canara Robeco Liquid Income Distribution - (Daily Dividend Reinvestment Option)
From 01.06.2004 To 31.12.2007:
The AMC, may consider the overall level of risk of the portfolio, invest in lower rated /
Period Retail Plan (%) Institutional Plan (%)
un-rated securities, offering higher yields as well as zero coupon securities that offer
attractive yields. This may increase the absolute risk of the portfolio. 01.06.04 to 08.07.04 3.9405 4.1023
Any disruption in the normal functioning of the Debt market or extreme illiquidity in Ind. & HUF Others Ind. & HUF Others
any one of the Scheme's securities, may affect the ability of the Fund Manager to buy 09.07.04 to 31.03.05 4.1950753 3.9230213 4.3010356 4.0221093
or sell freely in the market. In the event of a large number of repurchase requests, the
01.04.05 to 31.03.06 4.9965 4.6522 4.9850 4.6416
time taken by the Scheme for repurchase may become significant.
01.04.06 to 31.03.07 6.0528 5.6368 6.0563 5.6401
It may be noted that no prior intimation/indication would be given to investors when
the composition / asset allocation pattern of the Scheme undergo changes within the 01.04.07 to 31.12.2007 5.7932 5.8004
permitted band as mentioned in this document. (Weekly Dividend Reinvestment) (Annualised)
In the event of substantial investment by the Sponsors and its associates in the Period Institutional Plan (%)
scheme of the Mutual Fund, redemption of units by these entities may have an
impact on the performance of the Scheme. Ind. & HUF Others
12.04.05 to 31.03.06 4.9350187 4.5940195
Investors should study this Offer Document carefully in its entirety and should not
construe the contents hereof as advice relating to legal, taxation, investment or any 01.04.06 to 31.03.07 5.9087 5.5026
other matters. Investors may, if they wish, consult their legal, tax, investment and 01.04.07 to 31.12.2007 5.6809
other professional advisors to determine possible legal, tax, financial or other
considerations of subscribing to or redeeming Units, before making a decision to Canara Robeco Floating Rate Income Distribution (Annualised)
invest/redeem Units.Canara Robeco Mutual Fund will not be responsible for any loss (Daily Dividend Reinvestment)
of tax benefits in the event of winding up of the Scheme or for any amendment in tax Period Short Term Plan (%)
laws that may affect the tax benefits available under the Scheme. The tax benefits are Ind. & HUF Others
based on the present laws and rules in force.
01.12.06 TO 31.03.07 7.2068 6.7115
4. Constitution of the fund 01.04.07 to 31.12.2007 6.10603

The Fund was set up by Canara Bank, pursuant to the approvals received by the Fund
from the Government of India, Ministry of Finance, New Delhi by letter No. D. O. No
F.1/65/SE/87 dated 15th December 1987 for making investments in equity and other
securities. The Securities & Exchange Board of India has also granted registration
under Registration No.MF/004/93/4 dt.19/10/1993 & 09.10.2007. The Fund has
also been recognized under section 10(23D) of Income-Tax Act, 1961 under
Notification No.SO/1064/E dated 18th November, 1988 issued by Central Board of
Direct Taxes, Department of Revenue, Ministry of Finance, Government of India.
Canara Bank and Robeco Groep N.V are the joint Sponsors of the Fund.
a) Objectives of Canara Robeco Mutual Fund
i. The basic objective of Canara Robeco Mutual Fund is to channelise the savings
from a wide section of people and to provide them returns by way of annual
income distribution/capital appreciation by investment in Capital/Debt Markets
and to provide liquidity.
b) Sponsors
i) Canara Bank
Canara Bank, established in 1906, is a leading nationalised bank operating in India
and abroad, through its network of branches in India and offices in London, Moscow,
Hong Kong and managing exchange companies in UAE. The Bank is known for its
innovative, visionary and forward thinking policies in the banking sector. Canara Bank
is rated AAA (Triple A) by CRISIL, the Indian subsidiary of Standard & Poor's. In
addition to the three Regional Rural Banks including Pragathi Gramin Bank, Shreyas
Gramin Bank and South Malabar Gramin Bank, the Bank has the following companies
as subsidiaries.
Canfin Homes Ltd., Canara Robeco Asset Management Company Ltd., Gilt Securities
Trading Corporation Ltd, Canbank Factors Ltd. Canbank Financial Services Ltd.,
Canbank Venture Capital Fund Ltd. & Canbank Computer Services Ltd.

ii. The performance of Canara Robeco Mutual Fund Schemes for the financial years The Bank's owned funds stood at Rs. 8111.12 crores as on 30.09.2007. The capital
2004-2005, 2005-2006, 2006-2007 and from 01.04.2007 to 31.12.2007 in adequacy ratio of the Bank, as on 30.09.2007 was 13.89 % as against 9% stipulated
terms of income distribution is furnished below : by the RBI. Financial performance of Canara Bank is given below:

5
Canara Robeco Interval Scheme
(Rs. in Crores) Mr. K. K. Rai Director :
Year Ended 31st March 2005 2006 2007 30.09.07 S-3, Perody Nest, 542, SRS Nagar Techno Electric and Engineering Co. Ltd.
Bilekahalli, Bannerghatta Road ISMT Ltd. (Nominee Director ICICI Bank)
Total Deposits 95682.00 116803.00 142381.00 145193.00 Bangalore 560 076 Ramsarup Lohh Udyog Ltd.
Total Advances 61129.00 79426.00 98506.00 95344.00 (Independent Trustee) U.B.Engineering Ltd.

Number of Branches 2508 2532 2578 2578 Mr. Raj Kumar Aggarwal Director :
Total Income 9115.80 10027.00 12815.00 7814.73 Senior Partner Lord Krishna Bank Ltd.
M/s. Raj K. Aggarwal & Associates BOB Capital Markets Ltd.
Operating Profit 2585.33 2549.00 2912.00 1262.38 Chartered Accountants
Profit after Tax 1109.51 1343.22 1420.81 642.12 3072/41, Gola Market, Darya Ganj
New Delhi 110 002
Equity Capital 410.00 410.00 410.00 410.00
(Independent Trustee)
Reserve 5582.04 6608.86 7701.12 7701.12
Mr. R. K. Madhukar
Net-worth 5992.04 7018.86 8111.12 8111.12 General Manager
Earning per Share (in Rs.) 27.06 32.76 34.65 15.66 Canara Bank, Head Office, 112, J. C.
Road, Bangalore 560 002
Book Value (in Rs.) 146.15 171.19 197.83 197.83 (Associate Trustee)
Dividend Paid (%) 55 66 70 – Mr. Geert C.M.W Embrechts Chief Operating Officer & Managing
141/142, Maker Tower L Director:
ii) ROBECO GROEP N V. Cuffe Parade, Mumbai 400 005 Rabo India Finance Ltd.
Robeco Groep N.V. (Robeco) is wholly owned by Rabobank Nederland. Rabobank, (Associate Trustee) Managing Director:
with a AAA credit rating enjoys an award winning sustainability rating. Rabobank Rabo India Securities P Ltd.
Group offers a wide range of financial services. Robeco is positioned as the Rabobank Member:
Group's centre of competence for its asset management business. Robeco has been The Council of E U Chamber in India
engaged in global asset management for over 75 years and over these years has
gained specialized investment capabilities in the major asset classes of equity, fixed Apart from the Associate Trustees listed above, none of the other Trustees is or has
income, money market as well as in structured and alternative investments including been, during the last three years, an associate of the Sponsors or the AMC
hedge funds and private equity. d) Duties and obligations of the Trustees and Substantial Provisions of Trust Deed
Robeco has investment operations in The Netherlands, France, United States and has The duties, responsibilities and functions of the Board of Trustees of the Canara
as an extensive marketing and sales network throughout the world. Rabobank Robeco Mutual Fund are contained in the Principal Trust Deed dated 31st January,
Nederland and Robeco has numerous subsidiaries across the world and Robeco's 1990 as also in the Supplemental Trust Deeds executed from time to time. The rights
subsidiaries include Robeco Institutional Asset Management B.V, Robeco Direct N.V, and obligations of the Trustees are also governed by the Securities and Exchange
Robeco Fund Management B.V and Robeco Investment Management Inc. Board of India (Mutual Funds) Regulations, 1996 as amended todate. They are briefly
As of the 31st December, 2006, Robeco's total/aggregated assets under stated as under :
management were 141.90 billion EUR or approximately INR 7, 87,119 Crores. Robeco a. The Trustees shall ensure that the transactions entered into by the AMC are in
provides investment products and services to around 700 institutional clients and 1.5 accordance with the SEBI Regulations and the Scheme objectives.
million investors around the World.
b. The Trustees shall ensure that the AMC has been managing the Mutual Fund
Robeco India Holding B.V., is a wholly owned subsidiary of Robeco International Schemes independently of other activities and have taken adequate steps to
Holding B.V., which is a wholly owned subsidiary of Robeco Groep N.V. For investment ensure that the interest of investors of one Scheme are not being compromised
through Robeco India Holding B.V., Robeco has furnished the necessary guarantee to with those of any other Scheme or of the activities of the AMC.
stand behind and be responsible for the obligations of Robeco India Holding B.V.,
under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 c. The Trustees shall take steps to ensure that the transactions of the Mutual Fund
as also under the joint venture documentation concluded in this regard. are in accordance with the provisions of the Trust Deed.
Financial performance of Robeco Groep N.V. d. The Trustees shall be responsible for the calculation of any income due to be paid
to the Mutual Fund and also for any income received in the Mutual Fund for the
(Rs. in Crores) holders of the units of any Scheme in accordance with these regulations and the
Trust Deed.
Year Ended 31st December 2004 2005 2006
e. The Trustees shall ensure that there is no conflict of interest between the manner
Total income 3128.92 3524.94 3674.82 of deployment of its net worth by the AMC and the interest of the unit holders.
Profit after tax 747.74 860.29 1078.69 General Due Diligence :
Equity Capital 6389.55 5770.67 6112.79 i. The Trustees shall be discerning in the appointment of the Directors on the Board
Reserves 2935.53 4072.66 5521.55 of the AMC.
Net worth 3263.69 4212.91 5557.08 ii. The Trustees shall review the desirability of continuance of the AMC, if substantial
irregularities are observed in any of the Schemes and shall not allow the AMC to
Earnings per share 33.63 35.86 49.55
float new schemes.
Book value per share 143.84 185.68 244.92
iii. The Trustee shall ensure that the trust property is properly protected, held and
Dividend Paid (%) 39% Nil Nil administered by proper persons and by a proper number of such persons.
c) Board of Trustees iv. The Trustee shall ensure that all service providers are holding appropriate
The Board of Trustees comprises the following eminent personalities: registrations from the Board of concerned regulatory authority.
v. The Trustees shall arrange for test checks of service contracts.
Name Current Directorships vi. The Trustees shall immediately report to SEBI of any special developments in the
Mr. Ashok Pradhan (Chairman) Shree Adya Katyayani Shakti Mandir Trust Mutual Fund.
D 1, Upasna, 1, Hailey Road (Elected Trustee) Specific Due Diligence :
New Delhi 110 001
(Independent Trustee) The Trustees shall :
i. obtain internal audit reports at regular intervals from independent auditors

6
Canara Robeco Interval Scheme
appointed by the Trustees. Cangrowth Plus and Can D' Mat Schemes were merged with Canfortune' 94 Scheme
with effect from 20th March, 2007. (Now renamed as Canara Robeco Fortune'94).
ii. obtain compliance certificates at regular intervals from the AMC.
iii. hold meeting of trustees more frequently. 5. Management of the Fund
iv. consider the reports of the independent auditor and compliance reports of AMC
at the meetings of the Trustees for appropriate action. a) Asset Management Company

v. maintain records of the decisions of the Trustees at their meetings and of the The AMC has been set up in accordance with the Securities and Exchange Board of
minutes of the meetings. India (Mutual Funds) Regulations, 1996. An Investment Management Agreement has
been signed between the Fund and the AMC on 16th June, 1993 (as amended from
vi. prescribe and adhere to a code of ethics by the Trustees, AMC and its personnel. time to time) whereby the AMC is empowered to manage the affairs of the Fund and
vii. communicate in writing to the AMC of the deficiencies and checking on the manage its various schemes.
rectification of deficiencies in the working.
Pursuant to the joint venture documents signed between Canara Bank and Robeco
f. The Trustees shall ensure that no change in the fundamental attributes of any Groep N. V, on 26.09.2007, Robeco India Holding B. V. acquired 49% stake in the
Scheme or the trust or fees and expenses payable or any other changes which AMC. Canara Bank retained the remaining 51%. Consequent to this, the Fund was
would modify the Scheme and affects the interest of unit holders, shall be carried renamed as Canara Robeco Mutual Fund and the AMC as Canara Robeco Asset
out unless : Management Company Ltd. The Schemes of the Fund have accordingly been
i. a written communication about the proposed change is sent to each unit renamed to reflect the joint venture.
holder and an advertisement is given in one English daily newspaper having The AMC is also the Sub-Investment Manager in respect of Canbank (Offshore) Fund.
nation-wide circulation as well as in a newspaper published in the language Controls and safeguards as suggested by SEBI vide letter No. IIMARP/3219/94 dt.
of the region where the Head Office of the Mutual Fund is situated; in 27.05.1994 for managing the Offshore Fund is being adhered to and there is no
respect of open ended Schemes ; and conflict of interest in managing the Schemes of the Fund and Canbank (Offshore)
ii. the unit holders are given an option to exit at the prevailing NAV without Fund.
any exit load.
The Fund has launched 30 Schemes since its inception. The Fund acquired four
No amendment to the Trust deed will be carried out without the prior approval of the schemes from GIC Mutual Fund on 15.10.2005. Out of these, 16 Schemes have been
SEBI and Unit holders' approval will be obtained where amendments affect their fully redeemed / terminated / merged so far. Currently the Fund has 18 Schemes
interest. The procedure for obtaining approval of the unit holders, wherever which are being managed by the Investment Manager. As on 31.12.2007, the total
necessary, will be in accordance with the Regulations / Circulars or as may be corpus was Rs. 1894.78 crores and total net assets stood at Rs. 2703.14 crores.
prescribed by SEBI.
b) Board of Directors
The Board of Trustees meets at regular intervals, at which reports pertaining to the
performance of the Schemes / compliance with statutory requirements / Trustees' The Board of Directors of the AMC comprises the following eminent personalities:
orders are placed. Apart from the said reports, the AMC also submits reports and
information called for by the Trustees.
Mr. M. B. N. Rao ( Chairman) Chairman & Managing Director
In terms of the Third Schedule to the Regulations, a meeting of the Trustees is (Associate Director) Canara Bank
required to be held at least once in every two months and six such meetings are Head Office, 112 J C Road
required to be held in a year. Bangalore 560 002
The Board of Trustees have met 6 times during 2004-2005 and 6 times during 2005 Mr. M. V. Shenoy General Manager
2006, 7 times during 2006-2007 and 6 times from 01.04.2007 to 31.12.2007. (Associate Director) Treasury & International Wing
Canara Bank
Trusteeship Fees: The Trustees shall be entitled to charge a trusteeship fee of 0.05% 7th Floor, Maker Chambers III
of the Net Assets of the Scheme, to meet the expenses and contingencies. However, Nariman Point, Mumbai 400 021
currently, Trustees shall not levy the fee for this Scheme.
Mr. Franciscus L. Kusse Managing Director (International Affairs)
Transfer Of Gic Schemes (Associate Director) Robeco Groep N.V.
Pursuant to the Deed of Transfer dated 16.09.2005, GIC Mutual Fund (GICMF) 120, Coolsingel, 3011, Rotterdam A G.
Trustees in their capacity as trustees for the Transferred GIC Mutual Fund Schemes The Netherlands,
conveyed and transferred unto the Fund all legal ownership and right, title and Mr. Constant T. L. Korthout Managing Director (Chief Financial Officer)
interest in the corpus comprising investments, cash and other assets together with (Associate Director) Robeco Groep N.V.
liabilities and obligations (hereinafter referred to as the said “Transferred GIC Mutual 120, Coolsingel, 3011, Rotterdam A G.
Fund Corpus”) forming part of Transferred GICMF Schemes and in any wise belonging The Netherlands
or pertaining to or usually held, owned or possessed by GICMF Trustees in the name Dr. Navinchandra K. Thingalaya 53, Garden Manor
and style of GICMF in respect of the Transferred GICMF Schemes and to hold the same (Independent Director) S. B. Road, Lady Hill
in trust for and for the benefit of the unit holders as the beneficial owners thereof. Mangalore - 575 006
SEBI vide its letter No. IMD/MHS/47185/2005 dated 17.08.2005 has conveyed its 'No Mr. Pankaj Jain Partner, M/s.Khandelwal Jain & Co.
Objection' to the proposal for take over of the schemes of GICMF by the Fund. (Independent Director) Chartered Accountants
6 - B Pil Court, 111, M K Road
Accordingly, the Fund have assumed the trusteeship, management and Churchgate, Mumbai 400 020
administration of the following schemes of GICMF w.e.f. 15.10.2005 with the AMC as Mr. Arvind Sethi 02 GFA Laburnum Court Green
the asset management company for the following schemes of GIC Mutual Fund. (Independent Director) Sector 28, Sushant Lok
Redeemed Schemes Gurgaon 122 002, Haryana.
GIC Rise 91, GIC Rise II, GIC Big Value, GIC Suraksha 96, GIC Growth Plus, GIC Taxsavers Mr. Naveen Kumar Kshatriya 51, Hill Park, A.G. Bell Marg
Growth Plan, GIC Taxsaver'95. (Independent Director) Malabar Hill, Mumbai 400 006.
Ms. Maria J .W. Klerkx Robeco Groep N.V
Open ended Schemes : Upon takeover of the under mentioned four schemes by Alternate to Associate Director, Coolsingel,120
CRMF, the schemes are renamed as under: Mr C.T.L. Korthout NL 3011AG, Rotterdam.
Schemes under GIC MF New Names under The Fund
Apart from the associate directors listed above, none of the other Director(s) is or has
GIC Balanced Fund Canbalance II ( Canara Robeco Balance II) been, during the last three years, an associate of the Sponsors.
GIC Fortune '94 Canfortune '94 ( Canara Robeco Fortune’94)
c) AMC Fees :
GIC Growth Plus II Cangrowth Plus
GIC D'Mat Can D' Mat For management of Canara Robeco Interval Scheme, the Investment Manager is

7
Canara Robeco Interval Scheme
entitled to charge a fee not exceeding 1.25% of the average weekly net assets of 8 Mr. U. R. Rao 54 B.com., L.L.B. Total Experience of 35 years of
Scheme. However, the Investment Manager may change the same within the overall Sr. Vice President CAIIB which first 18 years with Canara
limits prescribed by SEBI (MF) Regulation. In future, the Investment Manager may Bank and last 17 years with AMC in
modify the fee within the limits specified in the Regulations and disclosed in the Offer Research, Marketing, Primary
Document of the Scheme. Market, Dealing and Fund
Management
For Canara Robeco Interval Scheme, the total annual scheme recurring expenses is
9. Ms. Trupti Vyas 31 C.S, L.L.B. 5 years of experience in financial
capped at 1.00% and 0.75% of the weekly average net assets of the Scheme for Retail
Compliance Officer sector. C.S. Management Trainee
Plan and Institutional Plan respectively.
in Infrastructure Leasing &
d) Fund Manager: Financial Services Limited (IL&FS)
(July 2001 October 2002),
Sri A. K. Rao, B. Sc., MBA, LLB(Gen), CAIIB(I)
Associate Editor in Lexsite.com Ltd.
Experience : A decade of experience in various facets of commercial and development (January 2003 January 2004),
banking. Joined the Fund in 1992 and worked in fund management and research. He Deputy manager Compliance in
is currently the fund manager of Canara Robeco Liquid , Canara Robeco Liquid Plus , Benchmark Asset Management
Canara Robeco Fixed Maturity Plan and Canara Robeco Floating Rate Schemes. Co. Pvt. Ltd. (April 2004
December 2004), Company
The AMC will have the discretion to change the Manager depending on the
Secretary & Compliance Officer ,
operational requirement.
DBS Cholamandalam Asset
e) Compliance Officer : Management Ltd. (January 2005
December 2007).
Smt.Trupti Vyas
Canara Robeco Asset Management Company Ltd. g) The composition of the Research Department is as under:
Construction House, 4th Floor,
5 Walchand Hirachand Marg, Sr. Name and Designation Age QualificationTotal experience and assignments
Ballard Estate, Mumbai - 400 001 No. during the last 10 years.
f) Key Employees of the AMC 1 Mr. U. R. Rao 54 B.Com., Total Experience of 35 years of
Head of Research L.L.B., CAIIBwhich first 18 years with Canara bank
The day to day operations of the Investment Manager is managed by the following and last 17 years with AMC in
key personnel: Research, Marketing, Primary Market
Dealing and Fund Management.
Sr. Name and Designation Age Qualification Total experience and assignments 2 Ms. Hemangi V. Sista 39 B.Sc., MMS Total experience – 15 years
No. during the last 10 years. Research Analyst including 14 years in equity research
1 Mr. Rajnish Narula 48 B. Com., 25 years of experience in financial with the AMC.
Chief Executive Officer M.B.A.(USA) sector. Senior Management
positions in ANZ Grindlays Bank h) Registrar :
and Standard Chartered Bank The Registrar & Transfer Agents work will be handled by:
(Oct. 1982 to Sept. 2003). Chief
Executive Officer, Alliance Capital Computer Age Management Services Pvt. Ltd.
(Sept.2003 – Dec.2005). Chief 178/10 K. H. Road, Opp. Palmgroove
Executive Officer, DBS - Chola Hotel Nungambakkam, Chennai 600 034
Asset Management. (Jun. 2006
Tel No. (044) 39115574, 39115583, Email: enq_@camsonline.com
to Jul. 2007)
2 Mr. Paul J. M. Vrancken 33 B. Com., 11 years experience in financial The above Registrar is registered with SEBI vide Regn No. INR0000003621 dated
Chief Operating Officer CMA,CFM sector. Till May 2001 as Senior 31.05.2001
Advisor, Arthur Anderson The Registrar & Transfer Agents have adequate capacity to discharge responsibilities
Corporate Finance, Amsterdam. with regard to processing of applications and despatching of Statement of Account to
Vice President, Strategy and M & the unit holders within the time limit prescribed in the Regulations and also has
A, Robeco Greop N V, Rotterdam sufficient capacity to handle investor complaints.
from Jun. 2001 till date The Trustees reserve the right to change the R&T Agents, as may be required from
3. Mr. Sanjay Santhanam 40 B.Tech, PGDM 16.5 years of which 2 years in time to time, to ensure high service standards required for the Scheme.
Head Sales & Marketing (IIM, Bangalore)Lintas India Ltd. 4 years in I) Custodian :
Contact Advertising, 3 years in
ANZ Grindlays Bank and 7.5 years HDFC Bank Ltd., Sandoz House, Dr. Annie Besant Road, Worli, Mumbai 400 018 has
in Sundaram BNP Paribas Mutual been appointed as the Custodian to the Scheme. The Custodian is registered with
Fund. SEBI under Registration No.IN/CUS/001 dated 2nd February, 1998. The Trustees have
4 Mr. S. Santhanam 53 B.Sc., CAIIB 35 years : 23 years in Commercial entered into an agreement with the Custodian dated 7th May, 1997.
Executive Vice President Banking and 12 years in The salient features of the above Agreements are as under:
Investment Banking a. Provide post trading and custodial services to the Mutual Fund
5 Mr. S. L. Manjrekar 60 B.A.(Hons.), 38 years in legal, secretarial, b. Ensure benefits due on the holding are received
Sr. Vice President L.L.B., ACS general management,
administration and compliance, of c. Provide management information and other reports as required by the
which the last 15 years, with the Investment Manager
AMC. d. Maintain confidentiality of the information.
6 Mr. S. R. Ramaraj 48 M.Sc., CAIIB 22 years : 6 years in investment e. Be responsible for the loss and damage to the assets of the Scheme due to the
Sr. Vice President Grad. CWA, banking and the last 16 years, with negligence on its part or on the part of its approved agents.
the AMC in debt management and f. Segregate assets of the schemes.
Systems.
g. Not to assign, transfer, hypothecate, pledge, lend, use or otherwise dispose of
7 Mr. V. Ramesh Nayak 54 B.Com., CAIIB 32 years : 16 years in commercial the assets or property, except pursuant to instructions from the
Sr. Vice President banking (forex) and last 16 years, Trustee/Investment Manager or under express provisions of the Agreement.
with the AMC in fund
management, research, dealing h. Not to deal on its own account, in securities purchased or sold by the Mutual
and marketing. Fund, without making adequate disclosure to SEBI, the Trustee, and the
Investment Manager.

8
Canara Robeco Interval Scheme
i. The Custodian will be entitled for his remuneration as per the agreement. Daily Dividend Reinvestment (Annualised
However, the Trustees, if required, may consider appointing any other custodian who Period Short Term Plan (%)
is registered with SEBI.
Ind. & HUF Others
j) Auditors to the Schemes :
01.12.06 TO 31.03.07 7.2068 6.7115
M/s. Chokshi & Chokshi, Chartered Accountants, having their Office at 101/102,
Kshamalaya 1st Floor, 37, Sir V. Thackersey Marg, Mumbai 400 020 will be the 01.04.07 to 31.12.2007 6.10603
Auditors to the Scheme. The Trustees shall review the appointment of Auditors at The condensed financial information of Floater Scheme is as under
such intervals as may be deemed fit. The AMC reserves the right to change the
Auditors at any time with the approval of the Trustees and the Board of Directors of 04.03.05 01.04.05 01.04.06 01.04.07
the AMC. Date of Allotment - 04.03.2005 to to to to
31.03.05 31.03.06 31.03.07 30.09.07
6. Past Schemes Net Asset Value at the beginning –
04.03.2005 (Rs. per unit)
Canara Robeco Emerging Equities (Emerging Scheme), an open ended equity
Scheme was launched on 11.02.2005 which collected Rs. 57.30 crore, during the Income Option 10 10.0489 10.2551 11.0317
NFO. The units under NFO were allotted on 11.03.2005. Out of the total new fund Growth Option 10 10.0489 10.6629 11.4703
offer expenses of Rs 181,19,532.00, expenses of Rs.1,55,49,219.00 were borne by Weekly Dividend Reinvestment -- -- 10.26 10.2724
Emerging Scheme and expenses of Rs.25,70,313.00 were borne by the Asset Daily Dividend Reinvestment -- -- -- 10.261
Management Company. The Net Assets of Emerging Scheme as on 31.12.2007 was Net Income per unit (Rs.) 0.125 0.5107 0.9588 0.62
Rs. 220.45 crores and declared dividend of 50% so far. The condensed financial Income Distribution (Re. Per unit)
information of Emerging Scheme is as under: Income Option -- 0.3508 -- --
Individual & HUF 0.3267 -- --
11.03.05 01.04.05 01.04.06 01.04.07 Other
Date of Allotment - 11.03.2005 to to to to Weekly dividend reinvestment option
31.03.05 31.03.06 31.03.07 30.09.07 Individual & HUF 0.346591 0.64635 0.315059
Net Asset Value at the beginning – Other 0.32277 0.601927
11.03.2005(Rs. per unit) Daily dividend reinvestment option
Income Option 10 9.62 13.95 12.38 (since 02.12.2006)
Growth Option 10 9.62 15.94 14.52 Individual & HUF -- 0.245122 0.311007
Bonus Option 10 9.62 15.94 14.52 Other – 0.228275
Net Income per unit (Rs.) -0.39 7.21 1.86 2.21 Transfer to Reserves (Rs. In crores)
Income Distribution (Rs. Per unit) -- 2 -- 3 Short Term Plan – Dividend 0.13 0.5 0.03 --
Transfer to Reserves (Rs. In crores) Short Term Plan – Weekly Dividend 3.32 -2.57 --
Income Option -1.33 4.26 0.97 0 Short Term Plan – Daily Dividend - 6.36 0.68
Growth Option -0.78 2.94 0.2 0.85 Short Term Plan – Growth Option 8.5 30.45 12.18
Bonus Option 0 0.02 0.002 0.01 Net Asset Value at the end of the
Net Asset Value at the end of the Year / period (Rs. Per unit)
year / period(Rs. Per unit) Income Option 10.0489 10.2551 11.0317 11.4682
Income Option 9.62 13.59 12.38 12.54 Growth Option 10.0489 10.6629 11.4703 11.9242
Growth Option 9.62 15.94 14.52 14.71 Weekly Dividend -- 10.26 10.2724 10.2666
Bonus Option 9.62 15.94 14.52 14.71 Daily Dividend – -- 10.261 10.2602
Absolute Return (*) / CAGR Absolute Return (*) /CAGR
Canara robeco Emerging Equities Canara Robeco Floating Rate
Scheme (3.80)* 55.64 19.94 31.99 Scheme 0.49* 6.2 6.81 7.12
BSE 200 (Benchmark Index) (5.91)* 49.86 29.08 38.57 Crisil Liquid Fund Index
Net Asset at the end of period (Benchmark Index) 0.34 4.84 5.58 6.07
(Rs. in crores) 53.54 18.89 14.09 17.98 Net Asset at the end of period
Ratio of Recurring Expenses to (Rs. in crores) 79.28 305.56 603.07 674.48
Net Assets (%) 2.37 2.5 2.33 1.25 Ratio of Recurring Expenses to
Income Plan Growth Plan Bonus Plan Net Assets (%) 0.75 0.47 0.5 0.25
Net Asset Value as on 30.09.2007 p.u 17.73 25.72 21.53
Income Plan Growth Plan Weekly Daily
Annualised Compounded Return as on
Dividend Dividend
31.12.2007( %) 40.00 40.00 38.70 Reinvestment Reinvestment
Benchmark BSE 200 45.77 45.77 45.77 Net Asset Value as on
Past performance may or may not be sustained in future. 31.12.2007p.u 11.6987 12.1665 10.2701 10.2600
Canara Robeco Floating Rate (Floater Scheme), an open ended debt scheme was Annualised Compounded
launched on 08.02.2005. which collected Rs.307.00 crore, during the NFO. The Return as on 31.12.07 ( %) 7.20 7.20 5.97 5.67
units under NFO were allotted on 04.03.2005. The entire new fund offer expenses of
Rs.6,18,692.00 were borne by Asset Management Company. The Net Assets of Benchmark Crisil Liquid
Floater Scheme as on 31.12.2007 was Rs.609.15 crores and declared 4% (Pre-tax) Fund Index -- -- -- –
maiden dividend in Income Plan under Short Term Plan. Floater Scheme has also Past performance may or may not be sustained in future.
declared dividend under its Weekly/ Daily Dividend Reinvestment Option as under:
Weekly Dividend Reinvestment (Annualised) Canara Robeco Multicap, (Multicap Scheme) a close ended equity scheme was
launched on 05.12.2006 which collected Rs. 219.98 crores, during the NFO. The units
Period Short Term Plan (%)
under NFO were allotted on 02.02.2007. The entire new fund offer expenses of Rs.
Ind. & HUF Others
8,41,07,537.52 were borne by Multicap Scheme. The Net Assets of the Scheme as on
01.04.05 to 31.03.06 5.4800 5.1034
31.12.2007 was Rs. 226.97 crores. The condensed financial information of Multicap
01.04.06 to 31.03.07 5.8991
Scheme is as under:
01.04.07 to 31.12.2007 6.19.7

9
Canara Robeco Interval Scheme
02.02.07 01.04.07 investments that may be permitted by SEBI from time to time.
Date of Allotment - 02.02.2007 to to 2. The unit holders who claim the redemption amount during the period of three
31.03.07 30.09.07 years from the due date shall be paid at the prevailing Net Asset Value.
Net Asset Value at the beginning - 02.02.2007(Rs.per unit)
3. After a period of 3 years, such amounts can be transferred to pool account and
Income Option 10 9.68
the unit holders can claim the amount at NAV prevailing at the end of third year.
Growth Option 10 9.68
Net Income per unit (Rs.) -0.33 0.88 4. The income earned on such funds after completion of 3 years may be utilized for
Income Distribution (Re. Per unit) -- -- the purpose of investor education.
Transfer from Reserves (Rs. In crores) 5. The management fee charged the AMC for managing such unclaimed amounts
Income Option -4.92 9.52 shall not exceed 0.50% of the average weekly net assets.
Growth Option -2.27 4.51 In terms of the above circular, the Fund reminds the investors about the position of
Net Asset Value at the end of the year / period (Rs.Per unit) unclaimed redemption/dividends through individual communication periodically.
Income Option 9.68 12.78
Growth Option 9.68 12.78 The Fund reminds the investors of unclaimed Redemption and unclaimed dividend
amount through newsletters and other communications, regularly.
Absolute Return (*)
Canara Robeco Multicap Scheme -3.2 32.02 The Investors who have not received / encashed the dividends distributed by the
BSE 200 (Benchmark Index) -9.9 36.11 Schemes, may write to the respective registrars, duly furnishing the Name of the
Net Asset at the end of period (Rs. in crores) 213.01 216.11 Scheme, Folio Nos. and the details of dividends not received.
Ratio of Recurring Expenses to Net Assets (%) 1.81 0.89
7. Investment Objectives and Policies
Income Plan Growth Plan
a) The Scheme:
Net Asset Value as on 31.12.07 p.u 15.65 15.65
Canara Robeco Mutual Fund proposes to launch Canara Robeco Interval Scheme with
Absolute Annualised Absolute Return as on 31.12.07 ( %)(*) 56.50 56.50 the objective of inviting subscriptions from Individual investors, Corporates,
Benchmark BSE 200 53.76 53.76 Institutions, Trusts etc. The fundamental attributes and salient features of the Scheme
Past performance may or may not be sustained in future. are set out below for the purpose of inviting subscriptions to the Scheme. The Offer
Document was approved by the Board of Trustees of the Fund on 22.06.2007.
(*)Absolute return is given as the Scheme is in existence for less than one year.
In compliance of SEBI Circular No. SEBI/IMD/CIR No. 5/70559/06 dt. 30.06.2006,
Canara Robeco Fixed Maturity Plan (SERIES 13 M SR I) (FMP Scheme) a close ended the Trustees have ensured that the Canara Robeco Interval Scheme, a debt oriented
fixed maturity debt scheme was launched on 16.03.2007which collected Rs. 119.79 interval scheme approved is a new product offered by the Fund and is not a minor
crores, during the NFO. The units under NFO were allotted on 30.03.2007. The entire modification of the existing scheme.
new fund offer expenses of Rs. 13,29,077.00 were borne by the AMC. The Net Assets Fundamental Attributes
of the FMP Scheme as on 31.12.2007 was Rs. 126.18 crores. The condensed financial b) Type, Nature & Duration of the Scheme:
information of the FMP Scheme is as under: A Debt Oriented Interval Scheme comprising of three Schemes namely, Monthly
Interval Scheme, Quarterly Interval Scheme and Annual Interval Scheme.
30.03.07 01.04.07 The Fund proposes to launch one series under each scheme.
Date of Allotment - 30.03.2007 to to
31.03.07 30.09.07 The Trustees reserve the right to change the frequency of launching a scheme or not
Net Asset Value at the beginning- 30.03.2007 (Rs. per unit) to launch a scheme by issuing an addendum and public notice/ press release in this
Income Option 10 10.0171 regard.
Growth Option 10 10.0171 c) Objective of the Scheme:
Net Income per unit (Rs.) 0.0124 0.54
To generate returns and growth of capital by investing in Central and State Govt.
Income Distribution (Re. Per unit) – -- securities and other fixed income / debt securities normally maturing within the
Transfer to Reserves (Rs. In crores) maturity of interval plan to insulate the portfolio from interest rate volatility.
Income Option 0 0.09
Growth Option 0.14 6.23 d) Asset Allocation :
Net Asset Value at the end of the year / period(Rs. Per unit) The Asset Allocation pattern of the Scheme under normal circumstances would be as
Income Option 10.0171 10.627 under:
Growth Option 10.0171 106270
Absolute Return (*) INSTRUMENTS % of Investible Funds Risk
Canara Robeco Fixed Maturity Plan Series 13 M SR I 0.17 6.09 (indicative) Profile
Crisil Composite Bond Fund Index (Benchmark Index) N A ** 4.46 Debt Securities including securitised 100% Medium
Net Asset at the end of period (Rs. in crores) 120 125.14 debt having rating above AA or to low
Ratio of Recurring Expenses to Net Assets (%) 0.4 0.2 equivalent, Central / State Govt.
Securities and Money Market Instruments
(*)Absolute return is given as the Scheme is in existence for less than one year.
Investment by the Scheme in securitized debt is limited to domestic securitized debt
Income Plan Growth Plan and shall not exceed 50% the net assets at the time of investment.

Net Asset Value as on 31.12.2007 p.u 10.9113
Annualised Absolute Return as on 31.12.2007 ( %) 9.11
Benchmark Crisil Composite Bond Fund Index 7.14
Disclosure - Unclaimed Redemption and Dividend Amounts
As per circular No. MFD/CIR/9/120/2000, dated November 24, 2000 issued by SEBI,
the unclaimed redemption and dividend amounts shall be deployed by the Fund as
under:
10.9113 Investment by the Scheme in derivative instruments (Interest Rate Swaps (IRS) and
Forward Rate Agreements (FRA) shall not exceed 30% of the net assets of the Scheme
9.11 as on the date of such investments.
7.14
Pending deployment of the funds of the Scheme in securities pursuant to investment
objectives of the Scheme, such funds may be invested in short term deposits of
scheduled commercial banks or in call deposits and other money market instruments
in accordance with SEBI Circular no. SEBI/IMD/CIR No.1/91171/07 dated 16th April,
2007.

1. The Fund may deploy the unclaimed Redemption and Dividend amounts in Call Investors are advised to note that, variation in the above asset allocation may go
Money Market or Money Market instruments or such other instruments / beyond the maximum limit specified under each class upto 100% and may go below

10
Canara Robeco Interval Scheme
the minimum specified limit under each class upto 0% in the circumstances from 1 year to 25 years whereas the maturity period of the Corporate Debt varies
mentioned below : from 1 year to 10 years. Securities may be listed or unlisted. The current yields
and liquidity in various securities are as under :
Investment Pattern and changes :
The above investment pattern is indicative and may be changed by the Investment Issuer Instrument Maturity Annualised Liquidity
Manager for defensive considerations and in accordance with change in Regulations Yields* (in %)
from time to time, under the following circumstances :
GOI Treasury Bill 91 days 7.05 High
1. During extreme volatility / ill-liquidity in the capital market/securities market.
GOI Treasury Bill 364 days 7.62 High
2. In case of natural calamity, strikes, riots, bandhs etc., affecting the valuation of
GOI Short 1 Year 7.66 High
security.
GOI Medium 3 Years 7.69 High
3. Declaration of war or occurrence of insurgency, or any other serious or sustained
financial, political or industrial emergency or disturbance, resulting in liquidity GOI Long 5 Years 7.67 High
crunch.
GOI Long 5 - 10 Years 7.79 High
4. During the time the Scheme receives bulk repurchase and/or bulk investment.
Corporates Taxable Bonds 1 year 9.10 Medium
A review will be made as and when such variation takes place, and, if the variation is (AAA)
beyond 10%, the reasons thereof will be recorded. The variation from the stated asset
Corporates Taxable Bonds 3 Years 9.13 Low to Medium
allocation will be constantly monitored and such variation will be brought down to
(AAA)
the specified asset allocation levels as soon as the normalcy is restored. A report of
such variations will be made to the Board of the AMC and the Trustees on a regular Corporates Taxable Bonds 5 Years 9.15 Low to Medium
basis. (AAA)
e. Capital Market : Corporates CP (P1+) 3 Months 8.10 Medium to High
CBLO On Demand 6.35% to 7.75% High
This brief on the securities market is intended to inform the investors the details such
as type of securities, risk profiles, likely yield and liquidity of the instruments available * As at 31.12..2007 The yields are likely to vary depending on market conditions.
in the market.
iv. In the case of investment in debt instruments, the Fund adheres to the general
This section covers monitoring exposure of the Scheme to a particular class of prudential investment guidelines such as promoters' track record, credit rating
security. awarded to the instrument by the reputed credit rating agencies, security
Debt Instruments - include Govt. of India securities (zero coupon or coupon bearing offered, duration of the debt instruments, purpose for which the finance is being
Bonds), State Govt. Bonds, Bonds issued by local Govt, Govt. Agencies and other raised and the sector/ line of business of the company etc., keeping in mind the
statutory bodies (with or without Govt. Guarantee), Bonds of Public Sector general trend and their growth prospects for the industry in general and
Undertakings, Debentures issued by public / private sector undertakings, Financial company in particular during the period of repayment of the debt etc.
Institutions with or without ratings, Securitised Debt, Usance Bills and other domestic v. The AMC aims to identify the securities, which gives superior levels of yield at
instruments either listed or unlisted having a maturity of more than 365 days. lower levels of risks. With the aim to minimise the risk associated with the debt
Money Market Instruments - include Commercial Papers, Commercial Bills, Treasury securities particularly the credit risk, the Fund manager and the debt research
Bills, Government Securities having an un-expired maturity up to one year, Call or department thoroughly evaluate the proposal before taking investment decision.
Notice Money, Certificate of Deposit, Usance Bills and any other like instruments as vi. The Scheme aims to diversify the risk associated with the investment in Govt.
specified by the Reserve Bank of India / SEBI, from time to time. securities by investing in actively traded liquid securities with different coupon
The Scheme proposes to invest in Collateralised Borrowing Lending Obligation rates and maturities. The Scheme aims to maximise the portfolio return by
(CBLO), Repos Treasury Bills, MIBOR Instruments, CPs, CDs and Govt. Securities actively churning the securities of different maturities by keeping constant track
having un-expired maturity up to one year. These securities may be listed or unlisted. on the market and encash on the opportunities that present themselves from
The current yields under various securities are as under : time to time on account of interest rate movement due to Govt. policy,
borrowing programmes of the Govt., RBI open market operations and the money
Issuer Instrument Maturity Annualised Liquidity market situation in the country etc.
Yields* (in %) Investment in Securitized Debt :
GOI Treasury Bill 91 days 7.05 High Securitised Debt is a financial instrument (bond) whose interest and principal
GOI Treasury Bill 364 days 7.62 High payments are backed by an underlying cash flow from another asset. Asset
Securitisation is a process whereby commercial or consumer credits are packaged and
GOI Short Term One Year 7.66 High sold in the form of financial instruments. A typical process of asset securitisation
Corporates CP/CD (P1+) Three Months 8.10 Medium to High involves sale of specific receivables to a Special Purpose Vehicle (SPV) set up in the
form of a trust or a company. The SPV in turn issues financial instruments (promissory
CBLO On Demand 6.35 to 7.75% High notes, participation certificates or other debt instruments) also referred to as
“Securitised Debt” to the investors evidencing the beneficial ownership of the
* As at 31.12.2007. The yields are likely to vary depending on market conditions. investors in the receivables.
Debt and Money Market Investment in “Securitized Debt” includes investment in Asset Backed Receivables and
i. The market for debt instruments in India is estimated at over Rs. 6,50,000 Future Flow Receivables. Such Securitized Debts are asset classes like, personal
crores. A major part of the debt market consists of GOI Securities. vehicle receivables, commercial vehicle receivables, mortgage backed receivables i.e
housing finance receivables, lease receivables and corporate/consumer loan
ii. Govt. securities market is the largest market and the most liquid market in India. receivables.
With the support and the priority given by the Govt., It is believed that Govt
securities market is likely to witness stupendous growth during the coming days The Scheme intends to invest in any or all classes of these securitized assets which
as Central and the State Govt. are required to raise large sums of money from are rated not below the investment grade.
the market to meet revenue and capital expenditure. Banks, Financial Following are the risk perceived under each of the underlying assets of the
Institutions, Provident Funds and Insurance Companies are required by various “Securitized Debt”
statutes to invest a portion of these funds in Govt. securities and are big investors
in the market. 1) Loss due to default and/or payment delay on receivables.,
iii. Besides Govt. Securities, Debt markets currently comprise the following 2) Risk due to possible prepayments.
instruments: Corporate Debentures, PSU Bonds, Fixed Coupon Bonds, Floating 3) Limited loss cover, Delinquency and credit risk.
Rate Bonds, Zero Coupon Bonds, Promissory Notes, Commercial Paper,
Certificate of Deposit and Securitised Debt. The maturity of GOI Securities vary 4) Originator/Collection Agent Risk.

11
Canara Robeco Interval Scheme
5) Bankruptcy of the Originator and
6) Co-mingling of funds.
These risks are being minimized by investing in rated securitized debt (rating being
assigned by an approved credit rating agency) and limiting the Scheme exposure to
50% of the net assets of the Scheme.
Investment Focus and strategy :
The Scheme will invest in debt securities in order to generate consistent superior risk
adjusted returns as per the investment objectives of the scheme.
The Schemes may invest a portion of the portfolio in Money Market Instruments to
meet the repurchase requirements. The remaining investment will be made in
securities of varying maturity. However, the maturity of the portfolio will normally be
in line with the maturity period of the respective plans in the series.
The Scheme shall take into account the following parameters while decisions for
investments are taken
Liquidity of securities, rating, maturity profile, company's growth prospects, quality of
the security, and prevailing interest rate scenario. The Scheme will also take into
account risk management tools like modified duration, VAR and convexity for efficient
management of the Scheme investments.
The Scheme may also use various derivatives and hedging products from time to time
as would be available and permitted by SEBI in an attempt to protect the value of the
portfolio and enhance the Unit holder's interest.
The Scheme may invest in other interval schemes managed by the AMC or such
schemes managed by any other mutual funds, provided it is in conformity with the
investment objectives of the Scheme and in terms of the prevailing Regulations.
In addition, the Investment Manager will monitor the macro economic conditions,
including the political, economic environment and factors affecting liquidity and
interest rates. The Investment Manager would use this analysis to assess the likely
direction of interest rates and position the portfolio appropriately to take advantage
of the same.
Apart from investment restrictions under the Regulations, the Fund does not
presently intend to follow any internal norms vis-a-vis limiting exposure to a particular
security or sector etc. However, the Fund may consider imposing any restrictions
depending on the changes in the investment environment from time to time.
f) Procedure followed for investment decision:
The procedure followed for investment decisions is as under:
The daily recommendations of the Fund Managers of the Schemes to buy or sell
various securities, after giving due regard to the liquidity requirements of the
respective schemes and their investment objective, will be placed (along with
relevant information including research report from Research Department supported
by justifications) before the Market Operation Committee (MOC). The MOC headed by
the Chief Executive Officer of the AMC and consists of Chief Operating Officer,
Executives in charge of Equity, Debt & Money Market, two senior level executives (Sr
Vice President/Vice President). The MOC considers the recommendations and records
the buy or sell decisions in writing. The decisions will be noted by the Chief Executive
Officer and in his absence by the Chief Operating Officer. The executives in charge of
Equity, Debt & Money Market of the AMC shall be responsible for
investment/disinvestment decisions in their respective segments.
Reporting System to the Board: Monthly reports on Market Operation i.e. covering
equity and debt transactions are placed before the Board containing appropriate
information with regard to buying and selling of securities.
The corpus of the Canara Robeco Interval Scheme under its various plans/options will
be invested in securities mentioned above. It is proposed to compare the
performance with the respective benchmark indices by the AMC on a monthly basis
and place before the Board of Directors/Trustees on a quarterly basis for review
g) Benchmark Index :
As approved by the Board of Directors/Trustees the Schemes have currently selected
the following indices as benchmark indices for the Scheme
Monthly Interval Scheme - Crisil Liquid Fund Index
Quarterly Interval Scheme - Crisil Liquid Fund Index
Annual Interval Scheme - Composite Short Term Bond Fund Index
The Investment Manager may revise the same to a more appropriate benchmark
index, if any, as and when formulated by competent agencies. AMC may give its
comments/perception on comparison of returns and benchmarks, if desired.
12
h) Investment Plans/Options : Canara Robeco Interval Scheme provides two Plans
1) Retail Plan 2) Institutional Plan
Under Retail and Institutional Plan the following options are also provided for the
benefit of investors:
1) Growth Option 2) Dividend Option
n Growth Option: Under this Option, the surplus earned by the Scheme will remain
in the Scheme and will be reflected in the Net Asset Value.
n Dividend Option: Under this option, the Scheme proposes to distribute surplus, if
any, by way of Dividend as may be decided by the Trustees from time to time.
n Dividend Reinvestment: Under this Option, the Scheme proposes to
distribute surplus, if any, by way of Dividend, as may be decided by the
Trustees from time to time. Such dividend declared by the Trustees will be
reinvested in the Scheme by way of units of the Scheme. The dividend
reinvestment option shall be available to the investors during the specified
transaction period only.
n Dividend Payout: Under this Option, the Scheme proposes to distribute
surplus, if any, by way of Dividend, as may be decided by the Trustees from
time to time. Such dividend declared by the Trustees will be distributed to
the investors. .
Dividend Reinvestment
The Trustees reserve the right to declare periodical dividend / income distribution.
Such dividends declared shall be reinvested in the Scheme without being distributed
amongst the investors. The dividend so receivable by them shall be invested in the
Scheme by way of additional units and the dividend due and payable to the unit
holders will be compulsorily and without any further act by the unit holders reinvested
in the Scheme.
The dividends so reinvested shall be constructive payment of dividends to the unit
holders and constructive receipt of the same amount from each unit holder, for
reinvestment in units.
On reinvestment of dividends, the number of units to the credit of unit holder will
increase to the extent of the dividend reinvested divided by the first 'Ex-income
Distribution NAV' on the day of reinvestment as explained above. There shall,
however, be no entry load on the dividends so reinvested. The dividend reinvestment
option shall be available to the investors during the specified transaction period only.
Default Option: In case the investor fails to specify their preference, it would be
construed that the investor has opted for Growth Option.
i) Other Terms of Issue :
The nature and duration of the Scheme, provision for repurchase, Schemes' expenses
and fees, are stated elsewhere in the Offer Document.
The Trustees shall ensure that no change in The Fundamental attributes of any
Scheme or the trust or fees and expenses payable or any other change which would
modify the Scheme and affects the interest of unit holders, shall be carried out unless
i. a written communication about the proposed change is sent to each Unit Holder
and an advertisement is given in one English daily newspaper having nation-wide
circulation as well as in a newspaper published in the language of the region
where the Head Office of the Mutual Fund is situated; and
ii. the unit holders are given an option to exit at the prevailing Net Asset Value
without any exit load.
j) Liquidity Management:
Cash surplus/balance of any of the funds will be deployed in Reverse Repo / other
money market instruments / Collateralised Borrowing and Lending Obligations
(CBLO) and bank deposits, pending deployment of funds as per investment objective
of the Fund. The scheme may also keep a portion in cash or near cash in meeting the
expenses of the Scheme.
k) Portfolio Turnover Policy :
Purchase and Sale of securities attract transaction costs of the nature of brokerage,
stamp duty, custodian transaction charges etc. The portfolio turnover is essential to
regularly explore trading opportunities to optimise returns for the Scheme and
enable portfolio restructuring when required.
The Scheme will manage its portfolio taking into account the associated risks (such as
interest / liquidity / redemption etc.) perceived / expected, so as to minimise the risks
by using adequate risk management techniques. The portfolio turnover policy will be
aimed at maximising the returns/growth.In terms of the objective of the scheme, the
investments are made in securities having an unexpired maturity in line with the
Canara Robeco Interval Scheme
maturity period of the plans. Hence the portfolio turnover will depend upon the
outflow on account of any redemptions and also the volatility of interest rates and the
scheme aims to maintain a low portfolio turnover ratio.
Pursuant to Schedule IX read with Regulation 50 of the SEBI (Mutual Funds)
Regulations, 1996, the cost of investments acquired or purchased shall include all
such costs incurred for effecting the transaction while the sale proceeds of investment
sold or redeemed shall be net of all such costs incurred for effecting the sale
transactions and shall form part of the purchase or the sale value of investments.
l) Underwriting :
The Schemes may take up underwriting of other issues subject to the relevant SEBI
Regulations and as may be permitted by the Board of Directors of the Investment
Manager.
Regulation 46 of SEBI (Mutual Funds) Regulations,1996, states that :
“Mutual Funds may enter into underwriting agreement after obtaining a certificate of
registration in terms of the SEBI (underwriters) rules and SEBI (underwriters)
Regulations, 1993, authorising it to carry on activities as underwriters.
i. For the purpose of these Regulations, the underwriting obligation will be
deemed as if the investments are made in such securities.
ii. The capital adequacy norms for the purpose of underwriting shall be the net
assets of the Scheme. Provided that the underwriting obligation of a Mutual
Fund shall not at any time exceed the total value of net assets of the Scheme”.
m) Hedging and Derivatives :
SEBI vide its circular noMFD/CIR/011/061/2000 dated February1, 2000 permitted
mutual funds to participate in derivatives trading subject to the observance of
guidelines issued by SEBI. The Fund has to comply with the prescribed disclosure
requirements. As part of the fund management process, the AMC may use the
derivative instruments such as index futures, stock futures and option contracts,
warrants convertible securities, swap agreements or any other derivative instruments
that are permissible or may be permissible in future under applicable regulations and
such investments shall be in accordance with the investment objectives of the
Scheme.
Trading in derivatives has following risks:
An exposure to derivatives in excess of the hedging requirements can lead to losses.
An exposure to derivatives can also limit the profits from a genuine investment
transaction.
Efficiency of a derivative market depends on the development of a liquid and efficient
market for underlying securities.
Thus, derivatives are highly leveraged instruments. Even a small price movement in
the underlying security could have a large impact on their value. Also, the market for
derivative instruments is nascent in India.
Any loss on derivatives transaction I sought to be prevented by taking exposure to
derivatives only for the purpose of hedging and not for speculative purposes such an
exposure will be backed by assets in the form of cash or securities adequate to meet
the cost of derivative trading and loss, if any, due to unfavourable movements in the
market. There will be no investment in derivatives based on equity or equity index.
The investment in derivatives will be based only on derivatives related to debt such as
interest rate derivates.
Valuation of Derivative Products
Traded derivatives shall be valued at market price in conformity with the stipulations
of sub clauses (i) to (v) of clause 1 of the Eighth Schedule to the Securities and
Exchange Board of India (Mutual Funds) Regulations, 1996 and as per Circular
MFD/CIR/011/061/2000 dated 01.02.2000.
Valuation of untraded derivatives shall be done in accordance with the valuation
method for untraded investments prescribed in sub clauses (i) and (ii) of clause 2 of
the Eighth Schedule to the Securities and Exchange Board of India (Mutual Funds)
Regulations, 1996 and as per Circular MFD/CIR/011/061/2000 dated 01.02.2000.
Exposure to Derivatives
The Scheme shall use derivatives as risk management tools for hedging and portfolio
balancing. Therefore derivatives may be used to hedge upto 30% of Scheme's net
assets, in order to protect the interests of the Unit Holders under the scheme.
Losses may arise as a result of using derivatives, but these are likely to be
compensated by the gains on the underlying cash instruments held by the Scheme.
The Scheme will not assume any leverage exposure to derivatives.
Debt / Debt Related Derivatives
The Scheme may use derivatives in accordance with SEBI Regulations. RBI has issued
guidelines on Interest Rate Swaps (IRS) and Forward Rate Agreements (FRA) on July
7, 1999. These products were introduced for developing the nation's Debt Market.
Interest Rates Swaps (IRS)
All swaps are financial contracts, which involve exchange (swap) of a set of payments
receivable by one party for another set of payments receivable by another party,
usually through an intermediary. An IRS can be defined as a contract between two
parties (Counter Parties) to exchange, on particular dates in the future, one series of
cash flows (fixed interest) for another series of cash flows (variable or floating
interest) in the same currency and on the same principal for an agreed period of time.
The exchange of cash flows need not occur on the same date.
Forward Rate Agreements (FRA)
A FRA is an agreement between two counter parties to pay or to receive the
difference between an agreed fixed rate (the FRA rate) and the interest rate
prevailing on a stipulated future date, based on a notional amount, for an agreed
period. In short, in a FRA, interest rate is fixed now for a future period. The special
feature of FRAs is that the only payment is the difference between the FRA rate and
the Reference rate and hence are single settlement contracts. As in the case of IRS,
notional amounts are not exchanged.
The Scheme will use derivative instruments for the purpose of hedging and portfolio
balancing. Hedging does not mean maximisation of returns but only reduction of
systematic or market risk inherent in the investment.
Basic Structure of a Interest Rate Swap
An interest rate swap is an agreement between two parties to exchange future
payment streams based on a notional amount. Only the interest on the notional
amount is swapped, and principal amount is never exchanged.
In a typical interest rate swap, one party agrees to pay a fixed rate over the term of
the agreement and to receive a variable or floating rate of interest. The counterparty
receives a stream of fixed rate payments at regular intervals as described in the
agreement and pays the floating rate of interest.
Illustration :
Fixed interest rate : 10% p.a.
Variable Interest Rate : Over-Night MIBOR (variable)
Notional Principal : Rs.10 crore
Period of Agreement : 1 year
Interest Frequency : Semi-annual
Suppose six month period from the value date of swap to the first payment date is
182 days and the daily compounded over-night MIBOR is say 8% p.a. on that date, the
interest streams are as follows :
Fixed Rate Payment :
Rs.10,00,00,000.00 x 182 x 10 / 365 x 100 = Rs.49,86,301.36
Variable Rate :
Rs.10,00,00,000.00 x 182 x 8 / 365 x 100 = Rs.39,89,041.09
In the above example, the fixed rate payer will pay the variable rate payer a net
amount of Rs.9,97,260.27 (Rs.49,86,301.36 - 39,89,041.09).
Likewise the second and final payment will depend upon the variable NSE MIBOR for
the remaining 183 days and the interest stream of fixed rate for the said period, the
difference of which, will be settled between the parties at the expiry of the contract.
The above example illustrates the benefits and risks of using derivatives for hedging
and optimising the investment portfolio. Swaps have its own drawbacks like credit
risk, settlement risk. However, these risks are substantially reduced as the amount
involved is interest streams and not principal.
Risk associated with Derivatives trading:
As and when the Scheme trades in the derivatives markets, there are risk factors and
issues concerning the use of derivatives. Derivative products are specialised
instruments that require investment techniques and risk analyses different from those
associated with stocks. The use of a derivative requires understanding of the
underlying instrument as well as that of the derivative itself. Derivatives require the
maintenance of adequate controls to monitor the transactions entered into, the
ability to assess risk that a derivative adds to the portfolio and the ability to forecast
price movements correctly. There is the possibility that a loss may be sustained by the
portfolio as a result of failure of another party (usually referred to as the “counter
party”) to comply with the terms of the derivatives contract. Other risks associated
13
Canara Robeco Interval Scheme
with trading in derivatives include the risks of mispricing or improper valuation of other bank(s) or from any other sources as may be decided by the Investment
derivatives and inability of derivatives to correlate perfectly with underlying assets, Manager. The loans may be without collateral or may consider using a part of
indices. the Scheme's assets as collateral with the prior approval of the Board of Directors
of the Investment Manager and the Board of Trustees of the fund.
The Scheme will use derivative instruments for the purpose of hedging and portfolio
balancing. Hedging does not mean maximisation of returns but only reduction of Potential Risk of Loss to the Investment Manager / Canara Robeco Interval
systematic or market risk inherent in the investment. Scheme unit holders:
n) Restrictions: The borrowing by the Scheme will not involve any potential loss to the
Investment Manager or to the unit holders. However, it will involve a certain cost
The Scheme shall follow further prudential norms as specified in SEBI (Mutual Fund) on account of interest paid on borrowing at market rates as may be negotiated
Regulations, 1996, as amended from time to time, as follows: with the concerned lender. In any case, the Scheme may resort to borrowings
1. The Scheme shall buy and sell securities on the basis of deliveries and shall in all only if the possible benefit from borrowings exceed the cost of immediate
cases of purchases, take delivery of relative securities and in all cases of sale, liquidation of its assets for meeting redemption / repurchase needs.
deliver the securities and shall in no case put itself in a position whereby it has to The amount borrowed by Canara Robeco Mutual Fund, for all its schemes, for the
make short sale or carry forward transaction or engage in badla finance. years 2004-05 was Rs. 26 crores, 2005-06 was Rs. 59.3 crores, 2006-07 was Rs.
Provided that mutual funds shall enter into derivatives transactions in a 1020.04 crores. The borrowings for the period from 01.04.2007-20.06.2007
recognised stock exchange for the purpose of hedging and portfolio balancing, in was Rs. 64.69 crores.
accordance with the guidelines issued by SEBI.
8. Inter-Scheme Transfers : Transfer of investments from / to Schemes covered
2. The securities purchased by The Fund shall be got transferred in the name of the under this offer document to another scheme(s) of the Fund will be made only if
Mutual Fund on account of the concerned Scheme, wherever investments are
a. Such transfers are done at the prevailing market price for quoted
intended to be of long term nature.
instruments on spot basis (spot basis having the same meaning as specified
3. Aggregate value of “illiquid Securities” of the Scheme, which are defined as non- by the Stock Exchange for the spot transactions).
traded, thinly traded and unlisted, shall not exceed 15% of the total assets of the b. The securities so transferred shall be in conformity with the investment
Scheme and any illiquid securities held above 15% of the total assets shall be objective of the Scheme to which such transfer has been made.
valued in the manner as specified in the guidelines issued by the Board (SEBI).
c. As per the accounting policies approved by the Trustees / under the
The Funds raised under the Scheme shall be invested only in transferable Regulations.
securities as per Regulation 44(1) read with Seventh Schedule to the SEBI
(Mutual Funds) Regulations, 1996. 9. Other Disclosures :
4. The Scheme shall not invest more than 15% of its NAV in debt instruments issued a. As on 31.12.2007, The Fund under all its schemes has not invested more
by a single issuer which are rated not below investment grade by a credit rating than 10% of the paid up capital of a Company carrying voting rights.
agency authorised to carry out such activity under the Act. Such investment limit b. Investment by any Company, more than 5% of the net asset value of a
may be extended to 20% of the NAV of the scheme with the prior approval of the scheme (as on 31.12.07) and the investment made by that scheme or by any
Board of Trustees and the Board of Asset Management Company, provided that other scheme of the Mutual Fund in that company or its subsidiaries has
such limit shall not be applicable for investments in Government Securities and been brought to the notice of the trustees by the AMC which indicate the
Money Market Instruments. names of companies / schemes in which such investments have been made
provided the latter investment has been made within one year of the date of
Provided further that investment within such limit can be made in mortgage
the former investment calculated on either side. As on 31.12.2007, the
backed securitised debt which are rated not below investment grade by a credit
details of such investments are as under :
rating agency registered with SEBI.
5. The Scheme shall not invest more than 10% of its NAV in unrated debt Company Schemes in Schemes Aggregate Outstanding
instruments issued by a single issuer and the total investment in such which has which which has of amount as at
instruments shall not exceed 25% of NAV of the Scheme. All such investments invested companies invested invested in 31.12.2007
shall be made with the prior approval of the Board of Trustees and the Board of have invested in the company in at market
Asset Management Company. more than company during Value
The above restrictions are applicable for all debentures irrespective of any 5% of the in 01/01/2007
residual maturity period (above or below one year). Net Assets Column (1) to 31.12.2007
[Rs. in lakhs] [Rs. in lakhs]
6. Investment in other Schemes : The investment by this Scheme in other Mutual
Fund Schemes will be in accordance with Regulation 44(1) read with Clause 4 of 1 2 3 4 5
the VII Schedule to the SEBI (Mutual Funds) Regulations, 1996 according to Canara Bank Canara Robeco Canara Robeco 20000 Nil
which : Floating ** Liquid **
Canara Robeco * Canara Robeco 5000 Nil
“A scheme may invest in another scheme under the same AMC or any other Multicap Floating Rate **
mutual fund without charging any fees, provided that aggregate inter-scheme Canara Robeco 2500 Nil
investment made by all schemes under the same management or in schemes Fmp 13m **
under the management of any other AMC shall not exceed 5% of the Net Asset Canara Robeco 21.39 Nil
Value of the Mutual Fund”. Balance Ii *
In order to be consistent with the Scheme's objectives, such an investment may Canara Robeco 21.49 Nil
only be made in another scheme carrying the same terms/ features of Canara Eq. Diversified*
Robeco Interval Scheme. No investment management fees will be charged by the IDBI Canara Robeco Canara Robeco 176.44 175.51
Investment Manager on such investments. Liquid** Multicap *
ITC Canara Robeco Canara Robeco Nil 127.37
7. Borrowings by the Scheme : The Scheme may borrow upto 20% of the net assets
Liquid ** Balance Ii*
managed for a maximum tenure of six months for the purpose of meeting
Canara Robeco Canara Robeco 42.25 59.5
outflows on account of repurchase/redemption or income distribution.
Floating Rate** Equity Taxsaver*
In terms of Regulation 44(2) of SEBI (Mutual Funds) Regulations, 1996 : Canara Robeco 116.75 152.28
Fortune 94 *
“The Mutual Fund shall not borrow except to meet temporary liquidity needs of
Canara Robeco 7.28 13.89
the Mutual Fund for the purpose of repurchase, redemption of units or payment
Nifty *
of dividend / interest to the unit holders. Further as per Regulations, the Fund
Canara Robeco 80.42 223.26
shall not borrow more than 20% of the Net Assets of the respective schemes and
Balance *
the duration of such borrowing shall not exceed a period of 6 months”.
Canara Robeco 359.35 242.77
If the Scheme decides to borrow, it may borrow either from Canara Bank or any Multicap*

14
Canara Robeco Interval Scheme
Canara Robeco 63.2 63.2 Canara Robeco 2.95 Nil
Expo * Expo *
Global Trade Canara Robeco Canara Robeco 64500 Nil Canara Robeco 7.75 Nil
Fin (p) Ltd. Floating** Liquid ** Fortune *
Canara Robeco Canara Robeco 132200 Nil Cangrowth Plus * 1.28 Nil
Liquid ** Floating Rate** Canara Robeco 9.68 Nil
Canara Robeco Canara Robeco 5000 Nil Infrastructure *
Liquid Plus** Liquid Plus ** Canara Robeco 24.66 Nil
Canara Robeco 2000 Nil Multicap*
Multicap * Canara Robeco 2.11 Nil
Crompton Canara Robeco Canara Robeco 1500 Nil Eq.taxsaver *
Greaves Liquid Plus** Liquid** Canara Robeco 6.87 Nil
Canara Robeco 1500 Nil Balance *
Floating Rate ** Corporation Canara Robeco Canara Robeco 2500 Nil
Canara Robeco 1500 Nil Bank Liquid** Liquid**
Liquid Plus ** Canara Robeco Canara Robeco 5000 Nil
Canara Robeco Nil 73.1 Liquid Plus ** Floating Rate**
Infrastructure * Canara Robeco 1800 Nil
Sesa Goa Ltd. Canara Robeco Canara Robeco Nil 37.07 Fmp 13m **
Fmp 13m** Eq.div.* Canara Robeco 2500 Nil
Canara Robeco 723.58 549.03 Fmp 3m **
Infrastructure * Canara Robeco 2100 Nil
Canara Robeco Nil 22.25 Liquid Plus **
Equity Taxsaver * UCO Bank Canara Robeco Canara Robeco 10900 Nil
Canara Robeco 174.6 Nil Liquid** Liquid **
Multicap* Canara Robeco Canara Robeco 15463 Nil
State Bank Of Canara Robeco Canara Robeco 2500 Nil Floating Rate** Floating Rate**
Bikaner & Jaipur Floating** Floating** Canara Robeco Canara Robeco 7500 Nil
Canara Robeco Canara Robeco 2500 Nil Liquid Plus ** Liquid Plus **
Liquid ** Liquid Plus ** Canfmp 1m Sr 1 ** 2000 Nil
Maruti Suzuki Canara Robeco Canara Robeco 83.23 173.42 Canara Robeco 86.61 86.61
India Ltd. Floating Rate** Balance Ii * Multicap **
Canara Robeco Canara Robeco 3.29 5.6 Indian Canara Robeco Canara Robeco 77.99 Nil
Fmp 13m** Nifty Index * Petrochemicals Fmp 3m** Balance Ii *
Canara Robeco Canara Robeco Nil 93.05 Corporation Ltd. Canara Robeco 1.18 Nil
Liquid Plus** Expo * Nifty Index *
Canara Robeco 164.4 164.4 Canara Robeco 77.93 Nil
Multicap* Infrastructure *
Indusind Bank Canara Robeco Canara Robeco 6200 Nil Canara Robeco 433.82 Nil
Liquid** Liquid** Multicap*
Canara Robeco 8800 4750 Canara Robeco 77.83 Nil
Floating** Balance *
Canara Robeco 2500 Nil Tata Consultancy Canara Robeco Canara Robeco 87.38 117.19
Liquid Plus ** Services Ltd. Liquid** Balance Ii *
Canara Robeco 26.81 Nil Canara Robeco Nil 70.33
Multicap* Eq.div*
Hindustan National Canara Robeco Canara Robeco 13700 Nil Canara Robeco Nil 29.46
Glass & Ind Ltd Fmp 13m** Floating Rate** Expo *
Canara Robeco 7300 Nil Canara Robeco 49.44 Nil
Liquid** Fortune *
Canara Robeco 2000 Nil Canara Robeco 13.51 24.5
Multicap* Nifty Index *
SREI Canara Robeco Canara Robeco 38100 Nil Canara Robeco 324.04 194.42
Infrastructure Ltd. Liquid Plus** Floating Rate** Multicap *
Canara Robeco 18900 Nil United Canara Robeco Canara Robeco 1500 Nil
Liquid ** Shippers Ltd. Liquid Plus** Floating Rate**
Canara Robeco 5300 Nil Canara Robeco Canara Robeco 2000 987
Liquid Plus** Fmp 1m Srii** Liquid **
Canara Robeco 3350 Nil Punjab Canara Robeco Canara Robeco 2500 Nil
Fmp 3m** National Bank Liquid ** Floating Rate**
Indian Bank Canara Robeco Canara Robeco 5000 24.19 Canara Robeco 2500 Nil
Liquid ** Liquid ** Liquid **
Canara Robeco Canara Robeco 7500 Nil Canara Robeco 2500 2324
Liquid Plus ** Floating Rate** Liquid Plus **
Canara Robeco 2500 Nil Canara Robeco 108.22 Nil
Liquid Plus** Balance Ii*
Canara Robeco 9.68 Nil Canara Robeco 108.24 Nil
Balance Ii* Multicap *
Canara Robeco 1.02 Nil Canara Robeco 2.14 3.41
Cigo* Nifty Index *
Candemat* 0.5 Nil Electrosteel Canara Robeco Canara Robeco 10000 Nil
Canara Robeco 10.64 Nil Casting Ltd Liquid ** Liquid **
Equity Diversified* Canara Robeco 6500 Nil
Canara Robeco 1.81 Nil Floating Rate**
Emerging*

15
Canara Robeco Interval Scheme
Canara Robeco 1000 Nil * Equity Shares. ** Debt Instruments / Certificate of Deposits.
Liquid Plus **
11. Underwriting Obligations with respect to issues of associates companies of
State Bank Canara Robeco Canara Robeco 490 458
sponsors : As on date, the Fund has no underwriting obligations.
Of Hyderabad Liquid ** Floating Rate **
Canara Robeco Canara Robeco 2500 Nil 12. Subscription in Issues lead managed by the Sponsors or its associates during
Floating Rate ** Liquid ** 2005-06 & 2006-07
Canara Robeco 2010 1881 Name of Amount Outstanding Role of
Liquid Plus ** the company Invested as on 31.12.2007 Sponsor
GMR Canara Robeco Canara Robeco 18.8 Nil (Rs in Lacs) (Rs in Lacs) (Canara Bank)
Infrastructure Floating Rate ** Cigo *
Canara Robeco Canara Robeco 123.54 Nil Gokuldas Exports Ltd. 27.62,500.00 Nil Co-Manager
Liquid Plus ** Eq. Div * PBA Infrastructure Ltd 30,00,000.00 Nil Lead Manager
Canara Robeco 131.55 Nil Beeyu Overseas Ltd. 2,29,026.00 Nil Lead Manager
Infra * GVK Power & Infra. Ltd. 1,92,71,150.00 Nil Co-Manager
Canara Robeco 169.09 Nil GMR Infrastructure Ltd. 1,37,04,390.00 Nil Co-Manager
Multicap *
Bharati Canara Robeco Canara Robeco 86.44 86.44 Pyramid Saimira Theatre Ltd. 74000.00 NIL Lead Manager
Airtel Ltd Liquid Plus ** Balance Ii * Raj Television Network Ltd. 51,40,000.00 16,31,000.00 Co-Manager
Canara Robeco 14.88 26.04 Indowind Energy Ltd. 1950000.00 Nil Co-Book running
Nifty Index * Lead Manager
Canara Robeco 74.68 173.4
The brokerage/charges paid to subsidiary/associates of the Sponsors, during the past
Infra *
three years is as under :
Canar Robeco 446.95 354.72
Multicap * (Rs in Lacs)
Canara Robeco 37.8 37.8 Paid to 2004-05 2005-06 2006-07 01.04.07 Nature of
Eq. Taxsaver * To Transaction
Associated Canara Robeco Canara Robeco Nil 43.37 31.12.07
Cement Liquid ** Balance Ii * Canara Bank 13.74 155.97 217.36 96.16 Brokerage
Companies Ltd Canara Robeco 36.1 Nil Canara Bank 10.88 9.20 15.85 3.21 Bank
Fortune * Charges
Canara Robeco 2.52 4.21 Canbank Computer 61.39 26.25 30.29 56.71 R&T
Nifty Index * Services Ltd. Charges
Canara Robeco 244.53 351.42 Including
Infra * OPE and
Canara Robeco 707.15 292.93 Other
Multicap * Charges
* Equity Shares. ** Debt Instrument/ Certificate of Deposits. Canara Robeco Asset 864.26 1070.46 1353.97 1159.83 AMC Fee
10. Investments in Associates or Group Companies of the Sponsors : Management
The AMC may utilise the services of its Sponsors or the Sponsors' Subsidiaries / Company Ltd.
Associates or any other associates (within the meaning of the SEBI Regulations) BOB Capital 0.02 Brokerage
in case such company (including its employees and relatives) is in a position to Market Ltd.*
provide the requisite services to the AMC. The AMC will conduct its business with
* the disclosure has been made as one of the trustees of the Fund is also a
the aforesaid companies (including their employees or relatives) on commercial
Director on the board of the above entity.
terms as permissible under the SEBI Regulations. The AMC may also utilise the
services of any of the subsidiaries of the Sponsors to be established at a later The Investment Manager may from time to time for conducting the normal
date in case such subsidiaries are in a position to provide requisite services. business, utilise the services of any of the associates / subsidiaries of the
The AMC shall conduct its business with these Subsidiaries / Associates of the Sponsors. The Investment Manager may also utilise the services of any of the
Sponsors on commercial terms and on arms length basis and at the prevailing subsidiaries of the Sponsors to be established at a later date in case such
market rate. The prevailing market rate is the extent permitted under the subsidiaries are in a position to provide requisite services to the Investment
regulations determined after an evaluation of the competitiveness of the pricing Manager.
offered by the Associates / Subsidiaries of the Sponsors and the services to be
The Investment Manager shall conduct its business with these subsidiaries /
provided by them. The AMC may also utilise the services of Canara Bank/ Robeco
associates of the Sponsors on commercial terms and on arms length basis and at
Groep N .V for marketing / distribution of applications and agency commission at
the then prevailing market rates / prices to the extent permitted under the
a rate not exceeding the rate of commission being paid to other intermediaries.
regulations, after an evaluation of the competitiveness of the pricing offered by
In accordance with SEBI (Mutual Fund) Regulation, 1996, the Scheme shall not
the associates / subsidiaries of the Sponsors and the services to be provided by
make any investment in :
them. The Investment Manager may also utilise the services of Canara Bank for
a. any unlisted security of an associate or group company of the Sponsors ; or
marketing / distribution of applications and agency commission at a rate not
b. any security issued by way of private placement by an associate or group
exceeding the rate of commission being paid to other agents for the Scheme will
company of the Sponsors ; or
be paid for such services.
c. the listed securities of group companies of the Sponsors which is in excess of
25% of the Net Assets. 13. AMC's Investments in the Scheme :
During the period 01.01.2007 to 31.12.2007 the following investments were
The Investment Manager may invest in the Scheme, on an ongoing basis, the
made in the securities of the Associate Companies in the terms of the Scheme's
maximum limit of such investment would be 25% of the net assets of the
objectives and because of attractive valuations:
Scheme at the time of investment. Such investments will be in conformity with
Name of Scheme Aggregate Aggregate % to Net the Regulation 24(3) of the SEBI (Mutual Fund) Regulations, 1996. The AMC shall
Security and Name cost of Market Value Assets not be entitled to charge any fee on its investment in that scheme.
Type acquisition Outstanding
[Rs. In lakhs] [Rs. In Lakhs] 8. Units On Offer
As on
Canara Bank Canara Robeco Liquid ** 20000 Nil -- a. Scheme details :
Canara Robeco Floating Rate ** 5000 Nil -- Canara Robeco Interval Scheme is a Debt Oriented Interval Scheme. The Scheme
Canara Robeco Fmp 13m ** 2500 Nil -- provides for launch of one series of each of Monthly, Quarterly and Annual Schemes.
Canara Robeco Balance II * 21.39 Nil -- Each of these Schemes will be launched separately under three different new fund
Canara Robeco Eq. Diversified* 21.49 Nil – offers and will have separate portfolio. For each of these schemes, there will be a

16
Canara Robeco Interval Scheme
choice of two plans namely, Retail Plan and Institutional Plan. Further, the investors g) Allotment :
have the choice of two options under each scheme / plan namely Growth Option and
Allotment of the Units to the eligible applicants under the Scheme who comply with
Dividend Payout Option.
the terms of the schemes:
The launch of New Fund Offer under each Scheme shall be intimated by issue of
Allotment of units will be made to all the applicants provided the applications are
notice / addendum to this effect and will be published in the news papers/ issue of
complete in all respects. [Fractional units will be allotted up to four decimals].
Press Release as per the Regulations.
However, acceptance of application and allotment of units / fractional units will be at
The Trustees reserve the right to change the frequency of launching any Scheme or the absolute discretion of the Trustees and the application can be rejected without
not to launch a particular Scheme without any notice in this regard. assigning any reason whatsoever.
Initial Issue price of the Unit Rs.10.00 per unit Investors will be issued with a Statement of Account evidencing allotment of units
Schemes Monthly Interval Scheme and such statement will be despatched within 30 working days from the date of
Quarterly Interval Scheme allotment after the closure of the New Fund Offer.
Annual Interval Scheme h) Date of Commencement of the New Fund Offer and Date of Closure (including
Plans 1) Retail Plan 2) Institutional Plan earliest closure, if any) - please refer Salient Features

Options a) Growth Option b) Dividend Option i) Transferability / Transmission:

Minimum Investment during New Fund 1) Retail Plan : Rs. 5,000.00
Offer and for subscription during Specified 2) Institutional Plan :
( Interval ) Date / Period Rs. 50,00,000.00 and Re 1.00
thereafter under each plan
Initial Issue Expenses Initial Issue Expenses will be borne by
the Asset Management Company.
Initial Minimum Corpus Rupees 2.00 Crs (Under each Scheme )
Maximum Amount for subscription No upper limit. However, Trustees
reserve the right to accept or reject any
application.
The Fund proposes to launch the Monthly Interval Plan and Quarterly Plan on 21st
January, 2008.
The New Fund Offer (NFO) of the Monthly and Quarterly Plans opens for subscription
on 21st January, 2008 and closes on 23rd January, 2008. The allotment of units
under the respective plans will be made on 24th January, 2008.
The Specified Transaction Period would be 24th of every month for Monthly Interval
Plan and 24th of every Quarter (24th April, 24th July, 24th October and 24th Jan'09
and so on) for Quarterly Interval Plan.
The New Fund Offer of Annual Plan (covered under this offer document) will be
notified by issuing an addendum / public notice /press release. The relevant Key
Information Memorandum and application will be issued at the time of opening of
NFO of the Annual Plan.
b) Retention of over subscription:
The Scheme seeks to raise a minimum of Rs.2.00 Crs out of the New Fund Offer
(NFO). Any amount in excess of this will be retained by the Scheme.
c) Refund of Application Money during NFO :
In case of failure to mobilise the minimum amount of Rupees Two Crores, Canara
Robeco Mutual Fund and the Investment Manager will refund the application money
/ excess application money, to the applicants in accordance with regulation 35 (2) of
SEBI (Mutual Funds) 1996, within a period of 6 weeks from the date of closure of
subscription list, by Registered AD and by cheque or demand draft marked “A/C
payee” to the applicants. In the event of failure to refund the amounts within the said
period of six weeks, the Investment Manager will be liable to pay interest to the
applicant at a rate of 15% p.a. on the expiry of six weeks from the date of closure of
subscription list.
d) Date of opening of subscription list : please refer Salient Features
e) Period for which subscription is open : please refer Salient Features
New Fund Offer under each Scheme will be open for a maximum period of 30 days
from the commencement of banking hours of the date of opening. The Investment
Manager may extend or reduce the period of the New Fund Offer, by giving a Press
Release, within the limits prescribed by SEBI. However, the Fund may temporarily
suspend acceptance of fresh applications at any time.
f) Listing :
As the scheme provides for repurchase of the units on the specified dates without any
exit load and such facility is provided on an ongoing basis, subject to exit load, the
units of the Scheme are not proposed to be listed on any Stock Exchanges. However,
The Fund may at its sole discretion list the units of the scheme on one or more stock
exchanges at a later date.
As repurchase facility is provided under the Scheme, the transfer facility is redundant.
However, if a transferee becomes a holder of the units by operation of Law or on
enforcement of a pledge or due to the death, insolvency or winding up of the affairs
of the sole holder or the survivors of the joint holder, then the Trustee shall,
subsequent to production of such evidence to which in their opinion is sufficient,
proceed to effect the transfer if the intended transferee is otherwise eligible to hold
the units. Further, if either the mutual fund or the Asset Management Company incur
any loss whatsoever arising out of any litigation or harm that it may suffer in relation
to the transmission, they will be entitled to be indemnified absolutely from the
deceased unit holder's estate.
9. Sale Of Units
How to Apply
a. During the New Fund Offer :
Applications complete in all respects together with necessary remittance may be
submitted at the offices of the Investment Manager or such collecting centres as may
be designated by the Investment Manager.
Payment will be accepted through a cheque or demand draft payable at the centre
where the application is lodged and drawn in favour of “CANARA ROBECO MUTUAL
FUND” and crossed 'A/c Payee only'. Investors at places other than the Investor
Relations Centres of Investment Manager or at designated centres, are requested to
make payment by demand draft. In case of payment by demand draft, actual DD
charges, will be absorbed by the Investment Manager.
The number of units allotted will be the amount invested divided by the sale price
applicable for the day on which applications are accepted by the Investment
Manager, rounded off to the four decimals place. Such allotment will be for a
minimum amount prescribed. Applications received by post will be deemed to have
been submitted on the date of receipt at the office of the Investment Manager and
the applicable rate will be the rate prevailing on the date of receipt of underlying
instrument accompanying such application. In case of payment by bank drafts, the
amount of investment and bank charges shall be clearly mentioned by the applicant
in the application. The Scheme will allot units to the extent of amount remitted by
way of demand draft plus bank charges incurred by the applicant, duly absorbing the
bank charges.
The Statement of Account for the units allotted under “New Fund Offer” will be
despatched to the Unit holders within 30 working days from the date of allotment.
Allotment of units will be at the absolute discretion of the Trustees and the
applications can be rejected without assigning any reason whatsoever.
b. Ongoing basis:
Investments / Switch-in under each scheme shall be accepted only on Specified
Transaction Date / Period without any load.
Such Specified Transaction Period shall be fixed after expiry of :
a) One month from the date of allotment after the closure of the NFO in the case of
Monthly Interval Scheme
b) One Quarter from the date of allotment after the closure of the NFO in the case
of Quarterly Interval Scheme
c) One Year from the date of allotment after the closure of the NFO in the case of
Annual Interval Scheme
In case the Specified Transaction Date / Period happen to be a non-business day, the
immediate next business day shall be construed as the Specified Transaction Date /

17
Canara Robeco Interval Scheme
period.
Trustees reserve the right to change / alter the Specified Transaction Period
depending upon the prevailing market conditions and to protect the interest of the
investors.
Note : The exact date of Specified Transaction Date / Period would depend upon the
date of allotment of the units after the closure of the NFO which in turn would
depend upon the date of launch of the NFO. The Specified Date/ Period would be
mentioned in the Key Information Memorandum at the time of launch of the NFO.
Applications complete in all respects together with underlying instruments payable at
the place of receipt may be submitted at the offices of the Investment Manager or
such collecting centres as may be designated by the Investment Manager.
The number of units allotted will be the amount invested divided by the sale price
applicable for the day on which applications are accepted by the Investment
Manager, rounded off to four decimals. Such allotment will be for a minimum
amount prescribed.
In case of payment by bank drafts, the amount of investment and bank charges shall
be clearly mentioned by the applicant in the application. The Scheme will allot units
to the extent of amount remitted by way of demand draft plus bank charges incurred
by the applicant, duly absorbing the bank charges.
The Statement of Account for the units allotted under “Ongoing basis” will be
despatched to the unit holders within 10 days from the date of allotment.
The Sale price of units will be NAV plus a sales charge, if any, as decided by the
Investment Manager, from time to time to meet the expenses of sale.
However the Investment Manager may periodically review the sale price and reserves
the right to lower or waive the sales charge for a particular period in a year. Such
modifications shall be announced periodically along with the NAV / sale price. At any
time, the spread between the selling and repurchase price will not be more than 5%
of the sale price.
Allotment of units will be at the absolute discretion of the Trustees and the
applications can be rejected without assigning any reason whatsoever.
c) Joint Applications :
In the event of joint application, applicant shall specify the 'mode of holding' as
'Jointly' or 'Anyone or Survivor'. If specified as 'Jointly', redemption/additional
purchase/switch and all other requests shall be signed by all the joint holders.
However, if the holding is specified as 'Anyone or Survivor', any one of the Unit
holders will be entitled to make redemption/additional purchase/switch and other
requests, without the need for all the Unit holders to sign. If the mode of holding is
not specified, it shall be deemed that the holding is on 'Joint' basis.
However, in the event of joint holding, the first-named holder shall receive the
accounts statement, all notices and correspondence with respect to the account as
well as the proceeds of redemption or dividends or other distributions.
d) Applicable NAV for sale of Units
a) For applications received up to 3 p.m. along with instruments payable at par at
the place of receipt, closing NAV of the same day on which the application is
received shall be applicable.
b) For applications received after 3 p.m. along with instruments payable at par at
the place of receipt, closing NAV of the next business day shall be applicable
provided next business day is declared as Specified Transaction Day. Otherwise
the application shall not be accepted for subscription / the amount shall be
refunded.
Calculation of Sale Price: The sales load will be charged as a percentage of Net Assets
Value (NAV) i.e. applicable load as a percentage of NAV will be added to NAV to
calculate sale price. The formula for calculation of Sale Price would be :
Sale Price = Applicable NAV x (1+Sales Load, if any)
e.g. if the applicable NAV is Rs.10.00 and sales / entry load is 2%, then the Sales Price
will be Rs.10.2000.
e) Minimum amount of subscription per application :
Rs. 5,000.00 under Retail Plan
Rs. 50,00,000.00 under Institutional Plan and in multiples of Re. 1.00 thereafter
under each Plan
f) Maximum amount of subscription :
No upper limit. However, the Trustees reserve the right to accept or reject any
application.
18
g) Who can Apply :
1. Adult Individual(s) and also minor(s) through their parent/guardian. (Application
of minors jointly with adults not allowed).
2. Adult Individual(s) jointly not exceeding three, on first holder or survivor/s
basis.
3. Hindu Undivided Family (HUF)
4. Partnership Firms, Trade bodies, Association of persons (either Registered or
unregistered).
5. A Company as defined in the Companies Act,1956, Public Sector Undertakings.
6. A Body Corporate established by or under any law in force in India.
7. A Co-operative Society registered under any law relating to Co-operative
Societies in India.
8. A Religious or Charitable Trust / Wakfs or a Society established under the
relevant laws and authorised to invest in Mutual Fund Schemes.
9. FIIs registered with SEBI.
10. Banks and Financial Institutions.
11. Pension Funds/Pension Fund Managers.
12. Non Resident Indians (NRIs) and Persons of Indian Origin (PIOs) on repatriation
/ non-repatriation basis.
13. Army, Air Force, Navy and other para-military units and bodies created by such
institutions. Scientific and Industrial Research Organisations.
14. Multilateral Funding Agencies / Body Corporates incorporated outside India with
the permission of Government of India / Reserve Bank of India
15. Other schemes of Canara Robeco Mutual Fund subject to the conditions and
limits prescribed under SEBI Regulations.
16. Any other category of investors that may be permitted by the Trustees as per
the Indian laws in future.
Applications by NRIs and PIOs :
a. Repatriation Basis : In terms of Schedule 5 of Notification No. FEMA/20/2000 dt.
May 03, 2000, the RBI has granted a general permission to mutual funds, as
referred to in Clause (23D) of Section 10 of the Act to issue and repurchase units
of their schemes which are approved by SEBI, to / from NRIs / PIOs subject to
conditions set out in the aforesaid notification. Further, general permission is
also granted to send such units to NRIs / PIOs to their place of residence or
location as the case may be.
NRI application on a repatriation basis will be made by submitting payment by
demand drafts purchased from / cheques drawn on FCNR / NRE Bank accounts
payable at a city where Investor Relations Centres of Investment Manager or its
authorised agents are located. Such applicants would have to subsequently
arrange to provide a debit certificate from their bankers confirming that the
amount has been paid by debiting the NRE / FCNR account.
b. Non-Repatriation Basis : In case of NRIs / PIOs seeking to apply for units on a
non-repatriation basis, payments may be made by cheques drawn on / draft
drawn out of NRO / NRSR accounts.
h) Bank Account Details /PAN :
Subscription for units under the Scheme shall not be accepted in cash.
As per SEBI guidelines it is mandatory for investors in Mutual Funds to state their Bank
account details in their applications and in redemption requests. The applicant/s shall
provide these details in the space provided in the application form. This measure is
intended to avoid fraud / misuse or theft of dividend / repurchase / redemption
warrants in transit. Applications not containing the details are considered invalid and
liable to be rejected. Any retention of redemption requests/proceeds for want of
Bank Mandate shall not attract penal interest provisions.
Submission of PAN Mandatory
It is mandatory from January 01, 2008, for all applicant (s) (including resident and
non-resident investors), guardians (in case of minors) and power of attorney holders
to provide PAN, along with a certified copy the PAN card for all transactions in units
of the schemes of Canara Robeco Mutual Fund irrespective of the amount of
transaction.
I) Prevention Of Money Laundering
Prevention of Money Laundering Act, 2002 (hereinafter referred to as “Act”) came
Canara Robeco Interval Scheme
into effect from July 1, 2005 vide Notification No.GSR 436(E) dated July 1, 2005
issued by Department of Revenue, Ministry of Finance, Government of India. Further,
SEBI vide its circular reference number ISD/CIR/RR/AML/1/06 dated January 18, 2006
mandated that all intermediaries including Mutual Funds should formulate and
implement a proper policy framework as per the guidelines on anti money laundering
measures and also to adopt a Know Your Customer (KYC) policy. The intermediaries
may, according to their requirements specify additional disclosures to be made by
clients for the purpose of identifying, monitoring and reporting incidents of money
laundering and suspicious transactions undertaken by clients. SEBI also issued
another circular reference no.ISD/CIR/RR/AML/2/06 dated March 20, 2006 advising
all intermediaries to take necessary steps to ensure compliance with the requirement
of section 12 of the Act inter-alia maintenance and preservation of records and
reporting of information relating to cash and suspicious transactions to Financial
Intelligence Unit-India (FIU-IND), New Delhi.
The investor(s) should ensure that the amount invested in the Scheme is through
legitimate sources only and does not involve and is not designated for the purpose of
any contravention or evasion of the provisions of the Income Tax Act, Prevention of
Money Laundering Act, Prevention of Corruption Act and/or any other applicable law
in force and also any laws enacted by the Government of India from time to time or
any rules, regulations, notifications or directions issued thereunder.
To ensure appropriate identification of the investor(s) under its KYC policy and with a
view to monitor transactions for the prevention of money laundering, Canara Robeco
Asset Management Company Limited ( “the AMC”)/Canara Robeco Mutual Fund
(“the Mutual Fund”) reserves the right to seek information, record investor's
telephonic calls and/or obtain and retain documentation for establishing the identity
of the investor, proof of residence, source of funds, etc. It may re-verify identity and
obtain any incomplete or additional information for this purpose.
The investor(s) and their attorney, if any, shall produce reliable, independent source
documents such as photographs, certified copies of ration card/passport/driving
license/PAN card, etc. and/or such documents or produce such information as may
be required from time to time for verification of the identity, residential address and
financial information of the investor(s) by the AMC/Mutual Fund. If the investor(s) or
the person making payment on behalf of the investor(s), refuses/fails to provide the
required documents/information within the period specified in the communication(s)
sent by the AMC to the investor(s) then the AMC, after applying appropriate due
diligence measures, believes that the transaction is suspicious in nature within the
purview of the Act and SEBI circulars issued from time to time and/or on account of
deficiencies in the documentation, shall have absolute discretion to report suspicious
transaction to FIU-IND and/or to freeze the folios of the investor(s), reject any
application(s)/allotment of units and effect mandatory redemption of unit holdings
of the investor(s) at the applicable NAV subject to payment of exit load, if any, in
terms of the said communication sent by the AMC to the investor(s) in this regard.
The KYC documentation shall also be mandatorily complied with by the holders
entering the Register of Members by virtue of operation of law e.g. transmission, etc.
The Mutual Fund, the AMC and their Trustees, Directors, employees and agents shall
not be liable in any manner for any claims arising whatsoever on account of freezing
the folios/rejection of any application/allotment of units or mandatory redemption of
units due to non-compliance with the provisions of the Act, SEBI circular(s) and KYC
policy and/or where the AMC believes that transaction is suspicious in nature within
the purview of the Act and SEBI circular(s) and reporting the same to FIU-IND.
Know Your Customer (KYC) Formalities
From 2nd February, 2008, it is mandatory to comply with 'Know Your Customer'
(KYC) norms in respect of the applications for investment of Rs. 50,000/- and above
for all the investor / applicants including NRI, guardians (in case of minors) and
power of attorney holders.
All investors including guardians and power of attorney holders need to complete
'Know Your Customer' (KYC) formalities through CVL (CDSL Ventures Ltd.) by
completing a KYC application form along with photograph, PAN card and proof of
address for individuals, or corporate documents for bodies corporate, in accordance
with the Prevention of Money-Laundering Act, 2002 (PMLA), Rules issued thereunder
and the guidelines / circulars issued by SEBI thereto.
The Fund tied up with M/s CVL to increase reach and convenience of the investors.
Applications for KYC along with PAN may be submitted at any "Point of Service" of
CVL. All documents must be submitted in original along with a self-attested copy. The
original will be returned across the counter after verification. Investors may also
submit notarized copies of the requisite documents.
Investors will receive an acknowledgement which needs to be submitted to the Fund
along with a list of folio numbers, as evidence of having completed these two
important regulatory requirements.
As a majority of Mutual Funds have tied up with CVL. Investors need to complete
these formalities ONCE across all such participating mutual funds.
If investors have previously completed KYC formalities via CVL, they may submit a
copy of KYC acknowledgement to the Fund along with a list of folio numbers for
verification and update.
All investments in Canara Robeco Mutual Fund need to comply with the PAN and KYC
requirements as noted above.
j) How to Switch :
Unit holders will have the option to switch all or part of their investment from one
Scheme to any of the other Scheme(s) under this Offer Document which is available
for investment at that time. To effect a switch, unit holder must provide clear
instructions. A request for a switch may be specified either in terms of amount or in
terms of the number of units of the Scheme for which the switch is sought. Such
instructions may be submitted in writing on any Business Day at any of the Investor
Relations Centres or Office of the Registrar. An Account Statement reflecting the new
holdings will be despatched to the unit holders.
The switch will be effected by redeeming units from the Scheme in which the units are
held and investing the net proceeds in the other Scheme(s), subject to the minimum
balance and lock-in-period, if any, applicable for the respective Scheme(s).
The price at which the units will be switched out of and into the Scheme(s), will be
based on the Applicable NAV of the relevant Scheme(s) and considering any prevalent
exit / entry loads or a combination thereof for switches.
However no switch-in of investments is permissible into Canara Robeco Interval
Scheme after the closure of the new fund offer except on the specified transaction
date / period of the concerned series.
k) Suspension of Repurchase of Units :
The repurchase of units may be suspended temporarily or indefinitely under the
following circumstances as enumerated below :
n When one or more of the Stock Exchanges / Debt / Money Markets, which
provides basis for valuation for a substantial portion of assets of the Schemes is
closed or otherwise for ordinary holidays or trading is restricted.
n During the periods of extreme volatility in the stock market/debt/money market,
which in the opinion of the Investment Manager, is prejudicial to the interest of
the investors.
n A complete breakdown in the means of communication used for valuation of
investment of the Schemes, or dislocation of business in the major financial
markets and as a result value of securities cannot be correctly calculated.
n In case of natural calamity, strikes, riots, bandhs etc.
n In the event of any major disaster that affects the functioning of the Investment
Manager or the Registrar.
n Declaration of war or occurrence of insurgency, or any other serious or sustained
financial, political or industrial emergency or disturbance.
n If SEBI, by order, so directs.
Before suspending the repurchase, approval will be obtained from the Board of AMC
and Board of Trustees duly informing the details of circumstances and justification.
The same will also be informed to SEBI in advance.
10. Returns and distribution
The Scheme may distribute, surplus if any, by way of dividend/ fully paid bonus units,
as may be decided by the Trustees from time to time. If there is no distributable
surplus or surplus amount is too small for distribution, in the opinion of the Trustees,
the Dividend/Bonus declaration may not take place. The dividend so declared shall be
compulsorily reinvested in the Scheme.
The Scheme is not assuring or guaranteeing any dividend or returns.
Income distribution, if declared, warrants will be issued within 30 days from the date
of declaration of income distribution or such period that may be stipulated from time
to time. The income distribution will be paid out of the net surplus of the Scheme, to
those unit holders whose names appear in the register of unit holders on the date to
be notified for the purpose.
Dividend Reinvestment
The units holders have the option to reinvest the dividend declared by the Scheme.
Such unit holders opting to reinvest the dividend receivable by them shall invest in
additional units of the Scheme. Upon exercising such option, the dividend due and
payable to the unit holders will be compulsorily and without any further act by the
unit holders reinvested in the Scheme.
19
Canara Robeco Interval Scheme
The dividends so reinvested shall be constructive payment of dividends to the unit
holders and constructive receipt of the same amount from each unit holder, for
reinvestment in units.
On reinvestment of dividends, the number of units to the credit of unit holder will
increase to the extent of the dividend reinvested divided by the first 'Ex-income
Distribution NAV' on the day of reinvestment as explained above. There shall,
however, be no entry load on the dividends so reinvested.
11. Epenses
a) Under SEBI Regulations, the Fund is entitled to levy, Contingent Deferred Sale
Charge (CDSC) to the Unit holders exiting from the Scheme within four years of
purchase. The CDSC is aimed to allow the AMC to recover expenses incurred for
promoting the Scheme which otherwise the Unit holders may have borne, if it had
been a load scheme. In a no load scheme the Trustees reserve the right to levy the
CDSC structure if they so deem fit in the interest of efficient running of the Fund. If the
Trustees choose to change the CDSC structure, subscription made by the Unit holders
prior to such date will attract CDSC applicable prior to such changes.
The Scheme intends to charge the following Loads :
Load % of NAV
ENTRY Nil
CDSC Nil
EXIT Load/Switch out load Monthly Interval Plan :
Nil if redeemed on / during Specified
Transaction Date / Period
0.10% if redeemed at anytime other than
Specified Transaction Date / Period
Quarterly Interval Plan
Nil if redeemed on / during Specified
Transaction Date / Period
0.30% if redeemed at anytime other than
Specified Transaction Date / Period
Annual Interval Plan
Nil if redeemed on / during Specified
Transaction Date / Period
1.00% if redeemed at anytime other than
Specified Transaction Date / Period
The AMC reserves the right to change/modify load structure depending upon the
circumstances prevailing at any given time. However, any change in the load
structure shall be applicable on prospective investments only.
The repurchase load and the switch-over load may be revised by the Investment
Manager at any time up to a maximum of 7% of NAV. In any case imposition or
enhancement of load shall be applicable to prospective investments after the date
specified
All loads including CDSC shall be credited to the Scheme. Such loads may be
maintained in a separate account and may utilised towards meeting the selling and
distribution expenses. Any surplus in this account may be credited to the Scheme,
wherever felt appropriate by the AMC. The introduction or imposition of the Exit Load
/ CDSC along with the details will be disclosed in the Statement of Account issued.
In accordance with SEBI (MF) Regulations, 1996, the repurchase price will not be
lower than 95% of the NAV and the sale price will not be higher than 105% of the
NAV, and that the difference between the repurchase price and the sale price shall
not exceed 5% calculated on the sale price.
The investors will be advised of the change in the load structure by the AMC through
an Addendum attached to the Offer Document as well as a press release or an
advertisement in the newspaper. Such addendum will be sent along with the
newsletter to the investors periodically. The AMC will also inform the Investor Relation
Centre/Distributors/Brokers/Intermediaries etc. of any change in the load structure.
The latest modification in the load structure whether by way of Exit Load or CDSC will
be stamped in the acknowledgment slip issued to the investor on submission of the
application form and will also be disclosed in the Statement of Accounts issued after
introduction of such load / CDSC.
b) New Fund Offer Expenses :
i. The initial issue expenses associated with the launch of this scheme will be borne
20
by the Investment Manager. Therefore the entire amount received during New
Fund Offer period will be invested.
ii. Initial Issue Expenses of past schemes (Schemes launched during the last one
Fiscal )
The Fund launched Canara Robeco Multicap Scheme, a close ended Equity Scheme on
05.12.2006 and had incurred a total new fund offer expenses of Rs. 8,41,07,537.52.
The entire new fund offer expenses were borne by the Scheme and will be amortised
over a period of five year form the date of allotment.
The Fund launched Canara Robeco Fixed Maturity Plan 13M Series I, a close ended
Debt Scheme on 16.03.2007 and had incurred a total new fund offer expenses of Rs.
13,29,077/-. The entire new fund offer expenses were borne by the AMC.
The Fund launched Canara Robeco Fixed Maturity Plan 3M Series I, a close ended
Debt Scheme on 03.05.2007 and had incurred a total new fund offer expenses of
Rs.12,49,207.00. The entire new fund offer expenses were borne by the AMC.
The Fund launched Canara Robeco Fixed Maturity Plan 1M Series I, a close ended
Debt Scheme on 11.06.2007 and had incurred a total new fund offer expenses of Rs.
2,38,140.25. The entire new fund offer expenses were borne by the AMC
c) Annual Scheme Recurring Expenses :
As per the Regulations, the investment management fee and total annual scheme
recurring expenses chargeable to the Scheme are as under:
Limits Permissible under the Regulations for investment management fee:
i. Not exceeding 1.25% of the average daily net assets of the Scheme outstanding
in each accounting year, as long as the net assets do not exceed Rs. 100 Crs.,
and 1.00% of the amount in excess of Rs. 100 Crs., where net assets so
calculated exceed Rs. 100 Crs.,
ii. Additional management fee not exceeding 1% of the daily average net assets
outstanding in each financial year for units allotted on No Load basis. However,
this additional management fee to be charged is subject to the limits for total
expenses prescribed under 52 (6) of the Regulations.
Such additional management fee shall only be charged till the actual initial issue
expenses borne by the AMC, linked to the maximum extent of 6% of the initial
mobilisation, are recovered.
Limits Permissible under the Regulations for total annual scheme recurring expenses:
i. 2.25% on the first Rs. 100 cr. of average daily net assets.
ii. 2.00% on the next Rs. 300 cr. of average daily net assets
iii. 1.75% on the next Rs. 300 cr. of the average daily net assets
iv. 1.50% on the balance of the average daily net assets
However, the AMC has estimated the expenses as % of average daily net assets on a
per annum basis is as follows :
Category of expenses Retail Institutional
Plan Plan
Investment management fee to be charged by the AMC. 0.35 0.35
Trustee Fee 0.05 0.05
Custodian fee 0.05 0.05
Fees for Services of Registrar 0.05 0.05
Brokerage & Transaction cost 0.05 0.05
Marketing & Selling expenses, including agents
commission 0.30 0.20
Other expenses, directly attributable to the Scheme 0.15 0.00
Total 1.00 0.75
The purpose of the table is to assist the investor in understanding the various costs
and expenses that an investor in the Scheme will bear directly or indirectly. Any
expenses incurred in excess of the above overall limits will be borne by the
Investment Manager.
These estimates have been made in good faith as per the information available to the
AMC at the time of preparation of this Offer Document and are subject to change
inter se. The total expenses may be more than as specified in the table above.
However, as per the Regulations, the total recurring expenses that can be charged to
the scheme shall be subject of the applicable guidelines.
Canara Robeco Interval Scheme
It may be noted that the total scheme recurring expenses are limited to 1.00% and
0.75% of the daily average net assets of the Scheme for Institutional Plan and Retail
Plan respectively. As such the Scheme shall meet all the expenses including
management fee with these limits.
12. Redemption or Repurchase
Specified Transaction Date / Period : The Scheme being an interval scheme, provides
for Specified Transaction Dates / Period / during which subscription / redemption /
switches may be made in the Scheme without any load. The Specified Transaction
Date / Period for each Scheme is as under :
Monthly Interval Scheme Once every month
Quarterly Interval Scheme Once every quarter
Annual Interval Scheme Once every year
The Specified Transaction Period shall be open for one day for subscription /
redemption / switch out / switch in without any load.
Such specified transaction period will be fixed for one day every month in the case of
monthly interval scheme, one day every quarter for quarterly interval scheme and
one day every year in the case annual interval scheme.
Such Specified Transaction Period shall be fixed after expiry of :
a) One month from the date of allotment after the closure of the NFO in the case of
Monthly Interval Scheme
b) One Quarter from the date of allotment after the closure of the NFO in the case
of Quarterly Interval Scheme
c) One Year from the date of allotment after the closure of the NFO in the case of
Annual Interval Scheme
In case the Specified Transaction Date / Period happen to be a non-business day, the
immediate next business day shall be construed as the Specified Transaction Date /
Period.
Note : The exact date of Specified Transaction Date / Period would depend upon the
date of allotment of the units after the closure of the NFO which in turn would
depend upon the date of launch of the NFO. The Specified date/period will be
mentioned in the Offer Document at the time of launching the Scheme.
a) How to Repurchase:
Repurchase facility under the Scheme shall commence after a maximum period of 30
days of the closure of the New Fund Offer and thereafter the facility will be available
on Specified Transaction Date / Period as mentioned above without exit load and
also on all other business days with applicable exit load.
The minimum redemption amount for the Canara Robeco Interval Scheme is Rs.
1000.00 and in multiples of Re. 1.00 thereafter
The repurchase requests can be made on the forms available at the Investor Relation
Centres / Investor Services Centres of the Registrar or by submitting the duly
discharged Statement of Account to the above entities.
b. Applicable NAV for Repurchase of Units :
For applications received upto 3.00 p.m. on Specified Redemption date/period, same
day's closing NAV shall be applicable without exit load. For applications received after
3.00 pm. on Specified Redemption date/period, closing NAV of the next business day
shall be applicable subject to exit load.
For applications received upto 3.00 p.m. on all other business days, same day's
closing NAV shall be applicable subject to exit load. For applications received after
3.00 pm, closing NAV of the next business day shall be applicable subject to exit load.
The repurchase requests can be made on the forms available at the Investor Relation
Centres or by submitting the duly discharged Statement of Account.
Calculation of Repurchase Price : The exit load will be subtracted as a percentage of
Net Assets Value (NAV) i.e. applicable load as a percentage of NAV will be subtracted
from NAV to calculate Repurchase Price. The formula for calculation of Repurchase
Price would be :
Repurchase Price = Applicable NAV x (1-Exit Load, if any)
e.g. if the applicable NAV is Rs.10.00 and repurchase / exit load is 2%, then the
Repurchase Price will be Rs.9.8000.
If units are held jointly, redemption/ repurchase requests shall be signed by all the
joint holders and the proceeds of the repurchase/redemption will be paid to the first
holder. In the event of the death of the first named holder, survivor/s will have to
make the repurchase/redemption requests, duly signed by him/them along with the
attested copy of the death certificates and the proceeds of the
repurchase/redemption will be paid to him/them.
However, if the unit holding is specified as 'Anyone or Survivor', any one of the Unit
Holders will be entitled to make redemption/repurchase requests, without the need
for the other unit holders to sign.
Unit holder may either request for mailing of the redemption proceeds to his/her
address or collection of the same from the Investor Relations Centre, where it was
deposited for repurchase.
The repurchase warrant along with Statement of Account, under normal
circumstances, will be despatched within the statutory time limit of 10 working days
from the date of the receipt of the repurchase / redemption requests.
Name of the centres where redemption can be effected is furnished on the last page
of this document.
c) Right to Limit Repurchase :
In management of the Scheme, any disruption in the normal functioning of the
markets for Call Money Market or extreme illiquidity in any of the investments held by
the Scheme may affect the ability of the fund manager to buy or sell freely in the
market. The Scheme strives to maintain an adequate and desirable level of liquidity.
In the event of a large number of repurchase requests, the time taken by the Scheme
for the repurchase may become significant.
d) Nomination Facility :
The Scheme offer the facility of nomination in terms of Regulation 29A of SEBI
(Mutual Funds) Regulations.
The terms and conditions are as follows :
1. The nomination can be made only by individuals applying for/holding units on
their own behalf on sole or joint basis. Where the units are held by more than
one person, the joint Unit holders may together nominate person (s) in whom
all the rights in the units shall vest in the event of death of all the joint Unit
holders.
2. Non-individuals including Society, Trust (Other than a Religious or Charitable
Trust), Body Corporate, Partnership Firms, Karta of HUF, Holder of Power of
Attorney are not eligible to nominate.
3. A minor can be nominated and in that event, the guardian shall also sign the
Nomination Form besides furnishing his/her name and address. A nomination
can also be in favour of Central Government, a Local Authority, any person
designated by virtue of his office or a religious or charitable trust.
4. A Non-Resident Indian can be nominated subject to the Exchange Control
Regulations in force in the country, from time to time.
5. Multiple nominations are permitted i..e more than one person can be nominated
per folio covering the entire unit holding in such folio.
6. The nomination once made in respect of a given folio would automatically
extend to the units further acquired in the same folio. Similarly, if all the units in
a folio are transferred/ repurchase/ redeemed from such folio, Nomination
made in respect of such folio will automatically stand cancelled.
7. Nomination can be revoked/changed by submitting fresh Nomination Form,
upon receipt of which the earlier nomination will stand cancelled.
The cancellation of nomination can be made only by those individuals who hold
units on their own behalf on sole or joint basis and who made the original
Nomination.
8. On cancellation of the nomination, the AMC/the Fund shall not be under any
obligation to pay the value of the units or transfer the units in favour of the
Nominee.
9. Transfer of units in favour of a nominee or payment of the value of units to
nominee shall be a valid discharge by the AMC/The Fund against the legal
heir(s).
10. A valid Nomination, once made, will override a Will or other testamentary
document(s) executed by the deceased Unit holder(s) and the Fund will not
entertain any claim from any person other that the registered nominee.
11. Nomination forms received by the Fund will be scrutinised and the Nomination
will be registered if the Form is found complete in all respects. For all valid
nominations received, the Fund will allot a registration number and
communicate the same to the Unit holder(s) concerned, who shall quote such
number in all future correspondence.
21
Canara Robeco Interval Scheme
12. For units held in electronic form, the Nomination shall be recorded with the
respective Depository Participant. The Fund/AMC may not accept any
Nomination in respect of such units.
Applicant(s)/Unit Holders(s) desirous of availing Nomination facility may use the
Nomination Form provided in the Application Form or may obtain Nomination
Form together with instructions/guidelines from R&T Agents/Investor Relation
Centres.
e) Electronic Clearing System (ECS) :
Reserve Bank of India (RBI) has implemented an ECS for direct credit of moneys to
investors at certain pre-designated centres. Under this system, the AMC proposes to
provide the details of individual investors' accounts to RBI along with the amount to
be credited to each account. RBI or its designated affiliate handles the actual process
of crediting the investors' account.
ECS is also a safe and convenient way for investors to receive the repurchase
proceeds. The centres where ECS payments can be made and the number of days
taken to credit the amount are subject to the rules governing ECS, as amended from
time to time, and the technology in place to administer the system.
Investors who desire to have repurchase proceeds paid through ECS should complete
an ECS mandate form, along with the minimum required information. If the investor
desires to change the account where the repurchase proceeds should be credited,
then the investor can submit a fresh mandate giving the new account particulars
either to the AMC at any of its designated offices.
The AMC will make the best endeavour to comply with the requirements of RBI or the
participating banks to effect a smooth credit of funds under the ECS. The actual
process, thereafter, would be in the hands of the bank implementing the ECS
mechanism in each centre.
f) Direct Credits :
Some banks have reached a level of technology implementation whereby they are in
a position to credit the proceeds to the account of the account holders electronically.
For the investors who have an account with such banks the AMC will, in consultation
with the bank and under advice to unit-holders, directly credit the repurchase amount
to the account of the investors based on the account details provided by the investors,
against proper mandate / authorisation.
The investor has a choice of changing his option about the method of receiving the
repurchase proceeds, if he/she so desires. For this purpose, the investor has to
communicate the change in details to the AMC or to its Investor Relations Centres.
The Fund/AMC or its Sponsors do not take any responsibility or liability if there are
delays in crediting the repurchase proceeds amount to the account of the Unit holder,
consequent to failure of the ECS / Direct Credit mechanism or if the payment
instructions given by the Fund/AMC are not duly complied with. Further, the
Fund/AMC will also not be liable or responsible if wrong credits are effected by the
ECS / Direct Credit system, save and except to the extent that if such wrong credit has
resulted due to the wrong information given by the Fund/AMC.
The Trustees / Investment Manager retain the rights to provide / withdraw the
facilities of Electronic Clearing System and / or Direct Credit and there is no
commitment on the Fund / Investment Manager to offer such facility.
13. Winding up of the scheme
Regulation 39(2) of SEBI (Mutual Funds) Regulations, 1996, provides that a Scheme
of a Mutual Fund may be wound up, after repaying the amount due to the unit
holders ;
a. On the happening of any event which, in the opinion of the Trustees, requires the
Scheme to be wound up ; or
b. if 75% of the unit holders of a Scheme pass a resolution that the Scheme be
wound up ; or
c) if SEBI so directs in the interest of unit holders.
Where a Scheme is wound up under the above Regulation, the Trustees shall give
notice disclosing the circumstances leading to the winding up of the Scheme :
a. to SEBI; and
b. in two daily newspapers having circulation all over India and a vernacular news
paper circulating at the place where the Mutual Fund is formed.
In case of winding up of the Scheme, the Trustees shall proceed as follows :
From the proceeds of the assets of the Scheme, the Trustees shall first discharge all
liabilities of the Scheme and make provision for meeting the expenses of winding up
22
of the Scheme, including the fees of the Investment Manager. The Trustees shall
distribute proceeds to the unit holders, in proportion to their respective interests, all
proceeds derived from the realisation of the investments, after recovering all costs,
charges, expenses, claims, liabilities, whether actual or contingent, incurred, made or
apprehended by the Trustees in connection with or arising out of the winding up of
the Scheme. It will be ensured that the redemption proceeds are despatched to the
unit holders within a maximum period of ten working days from the date of
completion of winding up of the Scheme.
14. Tax Provisions
Brief Statement of Tax Provisions applicable to mutual fund and its Unit holders.
Tax Benefits to the Mutual Fund:
The entire income of the Mutual Fund is exempt from income tax in accordance with
the provisions of sec. 10 (23D) of the Income tax Act, 1961. The income received by
the Fund is not liable for deduction of tax at source.
Income received by unit holders in respect of the units of the Mutual Fund would be
tax free in the hands of the unit holders in accordance with the provisions of section
10(35) of the Act.
Distribution Tax
On income distribution, if any, made by the Mutual Fund, additional income-tax is
payable under Section 115R of the Act, in the case of its Schemes (other than open-
ended equity-oriented funds i.e. such fund where the investible funds are invested by
way of equity shares in domestic companies to the extent of more than 65% of the
total proceeds of such fund). The dividend distribution tax shall be payable by the
mutual fund at the rate of 14.1625% (including surcharge and education cess) on
income distributed to an individual/ Hindu Undivided Family (HUF) and at the rate of
22.66% (including surcharge and education cess) on income distributed to other than
individual / HUF. In case of Money Market and Liquid Schemes the dividend
distribution tax shall be payable by Mutual Fund at the rate of 28.325% (including
surcharge and education cess) on income distributed to investors.
Long Term Capital Gains Tax (LTCG)
Under Section 2(29A) of the Act, read with section 2(42A) of the Act, a unit of a
Mutual Fund is treated as a long-term capital asset if the same is held for more than
12 months. If the unit is held for 12 months or less the same is treated as short-term
capital asset.
Under Section 112 of the Act, capital gains chargeable on transfer of long term capital
assets are subject to tax at the rate of 20%. The capital gains will be computed by
deducting the following amounts from the sale consideration:
a) Expenditure incurred wholly and exclusively in connection with such transfer, and
b) Cost as inflated by the cost inflation index notified by the Central Board of Direct
Taxes (CBDT).
However, the maximum tax payable on long term capital gains on units is restricted
to 10% of capital gains calculated without indexation of cost of acquisition. In case of
an individual or Hindu Undivided Family (HUF), being a resident, where the total
income as reduced by the long term capital gains is below the maximum amount not
chargeable to tax (Rs. 1,10,000 in case of all Individuals, Rs. 1,35,000 incase of
women and Rs. 1,85,000 incase of senior citizens), the long term capital gains shall
be reduced to the extent of the shortfall and only the balance long term capital gains
will be subject to the flat rate of taxation. In addition to the aforesaid tax, in case of
an individual, HUF or Association of Persons (AOP), where the income exceeds Rs. 10
lakhs, additional surcharge and cess is payable by all categories of taxpayers.
The Long term capital gains on transfer of units would be exempt from tax under Sec
54EC and Sec 54ED subject to the conditions prescribed in these sections. These
sections require investments in specified bonds or specified capital issue. However, if
the amount invested is less than the capital gains realized, only proportionate capital
gains would be exempt from tax.
Short Term Capital Gains Tax (STCG)
Gains other than long term capital gains (short term capital gains) arising to a unit
holder will be taxed at the normal rate applicable to that unit holder as per the
provisions of the Act.
Capital Losses
The capital loss resulting from sale of units would be available for setting off against
other capital gains made by the investor and would reduce the tax liability of the
investor to that extent. However, losses on transfer of long term capital assets would
be allowed to be set-off only against gains from transfer of long-term capital assets
Canara Robeco Interval Scheme
and the balance long-term capital loss shall be carried forward separately for a period
of eight assessment years to be set off only against long-term capital gains.
Short Term capital loss (other than losses arising from sale / repurchase of equity
oriented units) suffered on sale / repurchase on units shall be available for set off
against long term and short term capital gains (and can be carried forward for set off
against both long term and short term capital gains) arising on sale of other assets
and balance unabsorbed short-term capital loss can be carried forward and set off
against the income under the head capital gains during subsequent eight assessment
years.
Provision for Dividend
Where a person buys any units within a period of three months before the record
date, sells such units within nine months after such date and the dividend income on
such units being exempt from tax, the capital loss on such sale to the extent of the
dividend income cannot be set off against other gains.
Provision for Bonus
Where a person buys units (original units) within a period of three months before the
record date, receives bonus units on such original units, and then sells the original
units within a period of 9 months from the record date and continues to hold the
bonus units, then the loss incurred on the original units shall not be allowed to be set
off against other profits but shall be deemed to be the cost of the bonus units.
Tax Deduction at Source
As per the provisions of Section 194K and 196A of the Act, no deduction of tax at
source shall be made from income distributed or paid by a mutual fund to a unit
holder.
As per circular no. 715 dated August 8, 1995 issued by the CBDT in case of resident
unit holders, no tax is required to be deducted at source from capital gains arising at
the time of repurchase or redemption of the units.
Under Section 195 of the Act, the Mutual Fund is required to be deducted tax at
source at the rate of 20.00% on any long-term capital gains if the payee unit holder is
a non-resident (not being a company) or a foreign company.
In respect of shorterm capital gains, tax is required to be deducted at source at the
rate of 30.00% if the payee unit holder is a non-resident individual and at the rate of
40% if the payee unit holder is a foreign company.
As per circular no. 728 dated October 30, 1995 issued by the CBDT, in the case of a
remittance to a country with which a Double Tax Avoidance Agreement (DTAA) is in
force, the tax should be deducted at the rate provided in the Finance Act of the
relevant year or at the rate provided in the DTAA, whichever is more beneficial to the
assessee. In order for the unit holder to obtain the benefit of a lower rate available
under a DTAA, the unit holder will be required to provide the Mutual Fund with a
certificate obtained from his Assessing Officer stating his eligibility for the lower rate.
Investments by Charitable and Religious Trusts
Units of a Mutual Fund scheme referred to in clause 23D of section 10 of the Income
Tax Act, 1961, constitute an eligible avenue for investment by charitable or religious
trusts as per rule 17C of the Income Tax Rules, 1962, read with clause (xii) of sub-
section (5) of section 11 of the Income Tax, 1961.
Wealth-tax
Units of the Mutual Fund are not treated as assets under Wealth-tax Act, 1957 and
therefore would not be liable to wealth-tax.
Gift-tax
The Gift-tax Act, 1958 has ceased to apply to gifts made on or after October 1, 1998.
Gifts of Units of the Mutual Fund would therefore, be exempt from gift-tax.
The above statement of possible direct tax benefits / consequences sets out the
provisions of law in a summary manner only and is not a complete analysis or listing
of all potential tax consequences of the purchase, ownership and disposal of mutual
fund units. The statements made above are based on the tax laws in force as
interpreted by the relevant taxation authorities as of date.
NOTE : In the case of joint holding, the tax benefits are available to each joint holder
in the same proportion as their individual contribution. The above list of tax
treatment is not exhaustive and depends on specific entitlements of the assessee and
his affairs and therefore the treatment may vary from case to case basis. In view of
the individual nature of tax benefits, each investor is advised to consult his or her own
tax consultant with respect to the specific tax implications arising out of his or her
participation in the Scheme from the date of applicability of the various provisions
furnished above. The tax benefits stated above, in brief, are in accordance with
prevailing tax laws.
15. Net Asset Value & Valuation of Securities
The computation of NAV, valuation of securities / assets, accounting policies and
standards would be in conformity with the SEBI (Mutual Funds) Regulations, 1996
and guidelines issued from time to time. The NAV per unit shall be calculated as
follows :
Market or Fair Value of Scheme's investments
+ Current assets - Current Liabilities and Provisions
_______________________________________ = NAV (Rs.)
No. of Units outstanding under the Scheme
The price arrived shall be rounded off upto four decimals.
The NAV/ Repurchase price calculated as above under each plan/series will be
published in two news papers on a weekly basis by way of press release /
advertisement. The Fund also updates the NAV / Repurchase prices on AMFI /the
Fund’s website on daily basis. In addition, the NAV / Repurchase prices on daily basis
will be available at the Investor Relations Centres.
Valuation of Assets :
Traded Securities :
i. Traded Securities shall be valued at the last quoted closing price on the Stock
Exchange. When the securities are traded on more than one recognised stock
exchange, the securities shall be valued at the last quoted closing price on the
stock exchange where the security is principally traded.
ii. When on a particular valuation day, a security has not been traded on the
principal stock exchange, the value at which it has been traded on another stock
exchange is used.
iii. When a debt security (other than Government securities) is not traded on any
stock exchange on a particular valuation day, the value at which it was traded on
the principal stock exchange or any other stock exchange as the case may be, on
the earliest previous day, may be used, provided such date is not more than
fifteen days prior to the valuation date.
iv When a debt security other than Government securities is purchased by way of
private placement, the value at which it was bought may be used for a period of
fifteen days beginning from the date of purchase.
v Call money placements are valued at cost.
Thinly Traded Debt Securities :
A debt security (other than Government Securities) shall be considered as a thinly
traded security if on the valuation date, there are no individual trades in that security
in marketable lots (currently Rs. 5 Crores) on the principal stock exchange or any
other stock exchange.
In order to determine whether a security is thinly traded or not the volumes traded in
all recognised stock exchanges in India may be taken into account.
A thinly traded debt security as defined above would be valued as per the norms set
for non-traded debt security.
Non Traded Securities :
A debt security is not traded on any stock exchange for a period of fifteen days prior
to the valuation date the scrip will be treated as a 'non traded' security.
Valuation :
a. Non Traded /Thinly Traded Debt Securities of Upto 182 Days to Maturity :
In the absence of any other standard benchmarks in the market, debt securities
purchased with residual maturity of upto 182 days are to be valued at cost
(including accrued interest till the beginning of the day) plus the difference
between the redemption value (inclusive of interest) and cost spread uniformly
over the remaining maturity period of the instrument.
b. Non Traded/ Thinly Traded Debt Securities of Over 182 Days to Maturity
Debt securities purchased with maturity of greater than 182 days are to be
valued at the last valuation price (instead of purchase cost) plus accrued interest
till the beginning of the day plus the difference between the redemption value
(inclusive of interest) and cost spread uniformly over the remaining maturity
period of the instrument, if at the time of its valuation they have a residual
maturity of upto 182 days.
All other non traded Non Government Debt instruments will be valued using the
following method:
c. Non Traded / Thinly Traded Non Government Debt Securities of over 182 days to
maturity :
23
Canara Robeco Interval Scheme
For the purpose of valuation, all Non Traded Non Government Debt Securities
would be classified into "Investment grade" and "Non Investment grade"
securities based on their credit ratings. The non-investment grade securities
would further be classified as "Performing" and "Non Performing" assets
n All Non Government investment grade debt securities, classified as not
traded, shall be valued on yield to maturity basis as described below.
n All Non Government non investment grade performing debt securities would
be valued at a discount of 25% to the face value
n All Non Government non investment grade non performing debt securities
would be valued based on the provisioning norms.
The approach in valuation of non traded debt securities is based on the concept of
using spreads over the benchmark rate to arrive at the yields for pricing the non
traded security.
The Yields for pricing the non traded debt security would be arrived at using the
process as prescribed in accordance with SEBI Guidelines for valuation of securities
issued vide circular dated 18th September, 2000 bearing reference No.
MFD/CIR/8/92/2000 as amended from time to time.
Valuation of securities with Put/Call Options
The option embedded securities would be valued as follows:
Securities with call option :
a. The securities with call option shall be valued at the lower of the value as
obtained by valuing the security to final maturity and valuing the security to call
option.
b. In case there are multiple call options, the lowest value obtained by valuing to
the various call dates and valuing to the maturity date is to be taken as the value
of the instrument.
Securities with Put option
a. The securities with put option shall be valued at the higher of the value as
obtained by valuing the security to final maturity and valuing the security to put
option
b. In case there are multiple put options, the highest value obtained by valuing to
the various put dates and valuing to the maturity date is to be taken as the value
of the instruments.
Securities with both Put and Call option on the same day
The securities with both Put and Call option on the same day would be deemed to
mature on the Put/Call day and would be valued accordingly.
Illiquid Securities :
a. Aggregate value of "illiquid securities" of scheme, which are defined as non-
traded, thinly traded and unlisted equity shares, shall not exceed 15% of the total
assets of the scheme and any illiquid securities held above 15% of the total assets
shall be assigned zero value.
b. All funds shall disclose as on March 31 and September 30 the scheme-wise total
illiquid securities in value and percentage of the net assets while making
disclosures of half yearly portfolios to the Unit Holders. In the list of investments,
an asterisk mark shall also be given against all such investments which are
recognised as illiquid securities.
c. Mutual Funds shall not be allowed to transfer illiquid securities among their
schemes.
While investment in call money, bills purchased under rediscounting scheme and
short term deposits with banks shall be valued at cost plus accrual; other money
market instruments shall be valued at the yield at which they are currently traded. For
this purpose, non-traded instruments, that is instruments not traded for a period of
seven days, will be valued at cost plus interest accrued till the beginning of the day
plus the difference between the redemption value and the cost spread uniformly over
the remaining maturity period of the instruments;
All Government Securities ( not traded for more than 15 days or one which would
qualify as a thinly traded security ) shall be valued at prices provided by the agency
suggested by the AMFI on a daily basis. In the event of non availability of such prices
for any reason whatsoever, prices released by other competent agencies will be used,
failing which, average of the indicative bid price quotes obtained from two
government securities brokers will be used.
Non traded T-bills with residual maturity upto 182 days (not traded for more than 15
days or one which would qualify as a thinly traded security), will be valued on
straight-line amortization of last traded YTM or purchased YTM.
24
Non-traded T - Bills with residual maturity greater than 182 days (not traded for more
than 15 days or one which would qualify as a thinly traded security), shall be valued
at prices provided by the agency suggested by the AMFI on a daily basis. In the event
of non availability of such prices for any reason whatsoever prices released by other
competent agencies will be used, failing which, average of the indicative bid price
quotes obtained from two government securities brokers will be used.
In respect of convertible debentures and bonds, the non-convertible and convertible
components shall be valued separately. The non-convertible component would be
valued on the same basis as would be applicable to a debt instrument.
Where instruments have been bought on 'repo' basis, the instrument would be
valued at the resale price after deduction of applicable interest upto the date of
resale. Where an instrument has been sold on a 'repo' basis, adjustment would be
made for the difference between the repurchase price (after deduction of applicable
interest upto date of repurchase) an the value of the instrument, the depreciation
would be provided for and if the repurchase price is lower than the value of the
instrument, credit would be taken for the appreciation.
Valuation in respect of Non Performing Assets:
Valuation in respect of Non Performing Assets (Debt Securities) will be done in
accordance with “SEBI Guidelines for identification and provisioning for NPAs” issued
vide cicular dated 18th September,2000 bearing reference no. MFD/CIR/8/92/2000
as amended from time to time.
Accrual of Expenses & Income :
All expenses and incomes accrued upto the valuation date shall be considered for
computation of net asset value. For this purpose, while major expenses like
management fees and other periodic expenses should be accrued on a day to day
basis, other minor expenses and income need not be so accrued, provided the non-
accrual does not affect the NAV calculations by more than 1%.
Recording of Changes:
Any changes in securities and in the number of units will be recorded in the books not
later than the first valuation date following the date of transaction. If this is not
possible, given the frequency of NAV disclosure, the recording may be delayed up to a
period of seven days following the date of the transaction, provided as a result of
such non recording, the NAV calculations shall not be affected by more than 2%.
The valuation guidelines as outlined above are within the parameters of prevailing
regulations and are subject to changes from time to time by AMC and/or Trustees.
However such changes would be in conformity with the regulations.
16. Accounting Policies & Standards
In accordance with the SEBI (MF) Regulations, 1996, the Investment Manager follows
the Accounting Policies and Standards as under:
1. The Investment Manager, for each Scheme, keeps and maintains proper books of
accounts, records and documents, so as to explain its transactions and to
disclose at any point of time the financial position of the Scheme and in
particular give a true and fair view of state of affairs of the Fund.
2. For the purpose of the financial statements, the Scheme shall mark all
investments to market and carry investments in the Balance Sheet at the market
value. However, since the unrealised gains arising out of appreciation on
investments can not be distributed, provision shall be made for its exclusion
when calculating distributable income.
3. Non traded investments shall be valued by the Investment Manager on the basis
of appropriate valuation method as prescribed by SEBI.
4. In respect of interest - bearing investments, income is accrued on a day to day
basis as it is earned. Therefore when such investments are purchased, interest
paid for the period from the last interest due date up to the date of purchase will
not be treated as cost of purchase. Similarly, interest received at the time of sale
for the period from the last interest due date up to the date of sale will not be
treated as an addition to sale value but must be credited to Interest Recoverable
Account.
5. In determining the holding cost of investments gain or loss on sale of
investments, the “Average cost” method is followed for each security.
6. Transactions for sale and purchase of Securities are recognised as on the trade
date so that the effect of all investments traded during a financial year are
recorded and reflected in the financial statements for that year. Where
investment transactions take place outside the market, for example, acquisition
through private placements or purchase or sale through private treaty, the
Canara Robeco Interval Scheme
transactions shall be recorded, in the event of a purchase as of the date on which c. Name, address, Telephone Nos. of contact persons, who take care of investors'
the Scheme obtains an enforceable obligation to pay the price or, in the event of queries and complaints is furnished on the last page of this document.
a sale, when the Scheme obtains an enforceable right to collect the proceeds of
Appointment of AMC can be terminated by majority of the Trustees or by 75% of the
sale or an enforceable obligation to deliver the instrument sold.
unit holders of the Scheme.
7. When open ended scheme units are sold, difference between the sale price and The unit holder may also ascertain about any further changes including the Load
the face value of the units, if positive, shall be credited to reserve, and if Structure, after the date of Offer Document from the Fund or its Investor Relations
negative, shall be debited to reserve, the face value being credited to the capital Centres / Distributors / Brokers.
account. Similarly, when the units are repurchased, after considering the
equalisation as above, the difference between the purchase price and the face Following documents are available for inspection by the investors at the Registered
value of the units, if positive, shall be debited to reserve and, if negative, shall be Office of the Investment Manager Canara Robeco Asset Management Company Ltd.,
credited to the reserve and the face value being debited to the capital account. Construction House, 4th Floor, 5, Walchand Hirachand Marg, Ballard Estate, Mumbai
400 001 on any working day during business hours.
8. In the case of an Open Ended Scheme, when units are sold, an appropriate part
1. The Trust Deed
of the sale proceeds shall be credited to an Equalisation Account and when units
are repurchased an appropriate amount shall be debited to Equalisation 2. Investment Management Agreement
Account. The net balance in this account shall be credited or debited to the
3. The Scheme Rules and Regulations
revenue account .The balance in the equalisation Account debited or credited to
the revenue account shall not increase or decrease the net income of The Fund 4. Agreement entered into with Custodians.
but only an adjustment to the distributable surplus. It shall therefore be reflected
5. Consent from the Auditors to act in the said capacity.
in the revenue account only after the net income of the Fund is determined.
6. The Audited Balance Sheets of the various schemes of the Fund.
9. The cost of investment acquired or purchased shall include brokerage and any
charge customarily included in the Brokers' bought note. In respect of direct 7. Half Yearly Portfolio of all existing schemes.
subscriptions, any front end discount offered shall be reduced from the cost of 8. SEBI (Mutual Fund) Regulations, 1996 issued by Securities and Exchange Board
investment. of India.
10. Underwriting commission shall be recognised as revenue only when there is no 9. Indian Trust Act, 1882.
devolvement on the Scheme, the full underwriting commission received and not
10. Memorandum and Articles of Association of the Investment Manager.
merely the portion applicable to the devolvement shall be reduced from the cost
of investment.
19. Investor Grievances and Redressal
Based on the recommendations of the Guidance Note on Accounting for
Invesments in the Financial Statements of Mutual Funds by the Institute of The Canara Robeco Mutual Fund has an investor base of 282728 as on 31.12.2007.
Charterd Accounts of India (pursuant to the Eleventh Schedule of the SEBI The Fund has appointed three Registrars to service the investors and is constantly
Regulations) the unrealised appreciation / depreciation is ascertained on the monitoring their functioning, by interacting with them, to provide efficient and
basis of category of investments. The unrealised appreciation so calculated is expeditious service to the investors. 21 Investor Relation Centres have been set up at
transferred to unrealised appreciation reserve, and whereas, depreciation on important places to give efficient service to the investors.
investments, if any, as computed above is provided in the Revenue Account The statistical data for investor complaints / queries received are as follows:
The accounting policies and standards outlined above are as per the existing
regulations and are subject to changes as per changes in the SEBI regulations. From 01.04.04 01 04 05 01.04.06 01.04.07
To 31.03.05 31.03.06 31.03.07 31.12.07
Complaints / Queries Received * 41634 33149 15566 17410
17. Other Terms Pending Complaints / Queries* 140 145 27 82
a) Power to make rules: * includes request for change of address, general correspondence etc.
The Trustees may from time to time prescribe such forms and make such rules for the
purpose of giving effect to the provisions of the plan with power to the Trustees to Particulars Opening Received Resolved Outstanding
add to, alter or amend all or any of the forms and rules that may be formed, from Balance
time to time. Non Receipt of account statements
/Certificates 6 318 317 7
b) Miscellaneous: Non- Receipt of duplicate Certificates 0 35 35 0
The Trustees may from time to time, add to or amend or alter all or any of the term of Non-Receipt of D/W and/ or I/W 16 1285 1263 38
this plan with prior approval from SEBI and such amendments shall be in conformity Non-Receipt of Redemption Warrant/
with the guidelines and notifications issued by SEBI / GOI. The forms of Canara Revalidation 5 697 665 37
Robeco Interval Scheme including any amendments thereof from time to time shall Non-receipt of Intimation of change of
be binding on each holder of Canara Robeco Interval Scheme and any person Address 0 0 0 0
claiming through or under him / her / them, as if he / she / they had expressly
Total 27 2335 2280 82
agreed that they should be so binding.
Complaints received from Investors through SEBI : (From 01.04.2007 to 31.12.2007)
18. Investors' Rights and Services
Number of Number of Number of Number of
a. An abridged Scheme-wise annual report shall be mailed to all unit holders not
Complaints Complaints Complaints Complaints
later than six months from the date of closure of the relevant accounting year
c/f from Received till Redressed till Pending till
and the full annual report shall be made available for inspection at the Head
previous year 31.12.2007 31.12.2007 31.12.2007
Office of the Fund and a copy shall be made available to the Unit holders on
request on payment of nominal fees, if any. Nil 37 37 Nil
b. Before expiry of one month from the close of each half year that is on 31.03 and The Investor Relation Department of the Fund closely monitors the complaints
30.09, the Fund shall publish its un-audited financial results in one national received through SEBI and follows up with Registrars for redressal.
English daily newspaper and in a newspaper in the language of the region where
the Head Office of The Fund is situated. These shall also be displayed on the web
site of the Mutual Fund and that of AMFI. Full portfolio in the prescribed format
20. Penalties & Pending Litigation
shall also be disclosed either by publishing it in the newspaper or by sending to 1. All cases of penalties awarded by SEBI under the SEBI Act or any of its regulations
the Unit holders within one month from the end of each half year and it shall against the Sponsors of the Mutual Fund or any company associated with the
also be displayed on the web site of the Fund. Sponsors in any capacity including the Asset Management Company, Trustee

25
Canara Robeco Interval Scheme
Company/Board of Trustees, or any of the directors or key personnel (specifically
the Fund Managers) of the Asset Management Company and Trustee Company.
The nature of the penalty must be disclosed.
During the last five years, neither SEBI nor any other Regulatory body has
awarded any penalty under SEBI Act or Regulations and there is no enquiry or
adjudication proceeding/s, that are in progress against the Sponsors or any
company associated with the Sponsors in any capacity including the AMC, the
Board of Trustees or any of the Directors or key personnel of the AMC under the
SEBI Act or any other Regulations. In addition, no penalties have been awarded
for any economic offences and violation of securities laws.
2. For Sponsors and its associates, other than the penalties as mentioned above,
the penalties awarded by any financial regulatory body, including stock
exchanges, for defaults in respect of shareholders, debenture holders and
depositors shall also be disclosed. Additionally, penalties awarded for any
economic offence and violation of any securities laws shall be disclosed.
The Reserve Bank of India has imposed a penalty of Rs 5,00,000.00 on Canara
Bank for deficiencies in computation of DTL/NDTL for the purpose of
maintenance of CRR/SLR during the period prior to September,2005.
The Netherlands Competition Authority (NMA): In April 2004, Rabobank
Nederland, along with seven other Dutch banks was fined by the Netherlands
Competition Authority (NMA) in a case accusing “ Interpay” (a clearing house set
up by these banks) of charging excessive rates in connection with network
services for debit card transactions. Though Rabobank was fined a sum of Euros
3,900,000 in December 2005, NMA made downward adjustment of the fine to
Euros 3,275,000.
3. Any pending material litigation proceedings incidental to the business of the
Mutual Fund to which the Sponsors of the Mutual Fund or any company
associated with the Sponsors in any capacity including the AMC, Board of
Trustees/ Trustee Company or any of the directors or key personnel is a party.
a. Two Civil Suits are pending before the City Civil Court, Bangalore claiming
Rs.22,461.00, as compensation and interest in Canstar Scheme. Cases are also
pending before various Consumer Foras alleging deficiency of services by R&T
Agents, and also concerning suspension of repurchase facility under Canstar
Scheme. The cases are at various stages of hearing/appeal. The Fund has taken
necessary steps as legally advised.
b. The Mutual Fund is defending and / or filed cases in the Special Court constituted
under the Special Court (Trial of Offences relating to transactions in Securities)
Act, 1992 for the claims arising out of scam related transactions. The Fund has
taken necessary steps as legally advised.
Bank, has over 2500 branches and Robeco Groep N V has several offices across
the world. To the best of our knowledge and belief, no criminal cases which may
affect the business of Mutual Fund are pending against the Sponsors or any
company associated with the Sponsors in any capacity or any of the Directors or
key personnel.
Further, there is no deficiency in the systems and operations of the sponsors,
Board of Trustees or any company associated with the sponsors in any capacity
such as the AMC, which SEBI or any other regulatory agency has specifically
advised to be disclosed in the offer document.
Any enquiry/adjudication proceedings under the SEBI Act and the Regulations
made there under, that are in progress against the Sponsors of the Mutual Fund
or any company associated with the Sponsors in any capacity such as the AMC,
Board of Trustees/Trustee Company or any of the Directors or key personnel of
the Asset Management Company shall be disclosed. - None
21. Due diligence by the AMC
It is confirmed that :
(a) The Offer Document forwarded to SEBI, 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.
(b) 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.
c. The disclosures made in the Offer Document are true, fair and adequate to
enable the investors to make a well informed decision regarding investment in
the Scheme.
d. All the intermediaries named in the Offer Document are registered with SEBI and
till date such registration is valid.
Date : 11.01.2008 Signature :
Place : Mumbai Name : Trupti Vyas
Compliance Officer
Canara Robeco Asset Management Company Ltd.
IMPORTANT NOTICE : “NOTWITHSTANDING ANYTHING CONTAINED IN THE OFFER DOCUMENT
THE PROVISIONS OF THE SEBI (MUTUAL FUNDS) REGULATIONS, 1996 AND THE GUIDELINES
THEREUNDER SHALL BE APPLICABLE.”

c. Writ Petitions have been filed before the Hon'ble Bombay High Court & Hon'ble
Calcutta High Court, for direction to prohibit Robeco Mutual Fund from
converting the close ended Cantriple+ Scheme into open ended and for direction
regarding payment of three times the original investment.
Cases are also pending before various Consumer Foras claiming three times the
investment in Cantriple+ Scheme. The cases are at various stages of hearing. The
Fund has taken necessary steps as legally advised.
There are about 32 consumer complaints (including appeals) filed by various
parties against the Fund in respect of the various schemes floated by CMF, which
are pending. About 40 consumer complaints (including appeals) filed by various
parties against GIC Mutual Fund/GICAMC in respect of the various schemes
floated by GIC Mutual Fund, which are pending. Pursuant to take over of all the
GIC Mutual Fund Schemes by the Fund with effect from 15.10.2005, the said
cases are being defended by CMF as legally advised.
In respect of the cases mentioned above, the Fund / Investment Manager will
abide by the final decision of the cases.
4. Any pending criminal cases against the Sponsors or any company associated with
the Sponsors in any capacity including the AMC, Board of Trustees/Trustee
Company or any of the directors or key personnel should also be disclosed
separately.
A criminal complaint was filed by Mr. Dilip Cheriwal before the First Class Judicial
Magistrate, Patna against Canara Robeco Mutual Fundand four of the then
Trustees respectively in Cantriple+ Scheme. A petition filed by one Seth Sagarmal
Bagrodia Charitable Trust against Canara Robeco Mutual Fund and others in
Cantriple+ Scheme is also pending before MRTP, New Delhi. These cases are
being defended as legally advised.
Save and except what is stated above, no criminal cases are pending against the
Sponsors, any company associated with the Sponsors in any capacity, AMC,
Board of Trustees, any of the Directors or key personnel. The Sponsors, Canara

26
Canara Robeco Asset Management Company Ltd.
Sales Offices

AHMEDABAD
Krunal Shah, Tower A, Unit No: 402/B, 4th Floor, Ganesha Plaza, Opp. Navrangpura
Bus Stand,Off. C. G. Road, Ahmedabad 380 009.
Email: crmf.ahmedabad@canararobeco.com
Tel: (079) 66610423 Cell: 98984 63830
BANGALORE
S. Parthasarathy / Mrutyunjaya D. Patil, VI Floor, Naveen Complex, 14, M. G. Road,
Bangalore 560 001. Email: crmf.bangalore@canararobeco.com
Tel.: (080) 25594730, 25594731 Fax: (080) 25584521 S.
Parthasarathy: 98453 89764 M. D. Patil: 9886675234
BHOPAL
Saptarshi Ghosh, Kay Kay Business Centre, 1st Floor, 133, Zone 1, M.P. Nagar,
Bhopal 462 011.Email: crmf.bhopal@canararobeco.com
Tel.: (0755) 3013648 Cell: 98268 83317
CHANDIGARH
Shivagnanam, SCO 333-334, 1st Floor, Sector 35 B, Chandigarh 160 022.
Email: crmf.chandigarh@canararobeco.com
Tel: (0172) 2648007 Fax: (0172) 2600531 Cell: 98156 18007
CHENNAI
K. Venkatesan, 770-A, 1stFloor, Spencer Annexe, Anna Salai, Chennai 600 002.
Email: crmf.chennai@canararobeco.com
Tel.: (044) 28492598 Fax: (044) 28497023 Cell: 98404 44879
COIMBATORE
N. S. Srinivasan, Door No. A/1, Thiruvenkataswamy Road (East), R .S Puram,
Coimbatore 641 012. Email: crmf.coimbatore@canararobeco.com
Tel: (0422) 2546453 Cell: 94433 30557
DELHI
Prabhat Kumar, 306, Kanchen Junga Building., 18, Barakambha Road,
New Delhi 110 001. Email: crmf.delhi@canararobeco.com
Tel.: (011) 23326417, Fax (011) 23354780 Cell: 98180 31699
GOA
Govind Gawas, Souza Towers, 1st Floor, Unit No F-13, Opp. Muncipal Garden, Panaji,
Goa 403 001. Email: crmf.goa@canararobeco.com
Tel.: (0832) 2422415, 6450631 Cell: 98812 83854, 94224 45776
HYDERABAD
P. Viswanadh, Flat No. 201/202, IInd Floor, Sanatana Eternal, Door No.3-6-108/1,
Road No. 19,Himayat Nagar, Hyderabad 500029.
Email: crmf.hyderabad@canararobeco.com
Tel.: (040) 23261481/1482 Fax: (040) 23261480 Cell: 94404 65432
KOCHI
C. R. Venkitachalam, Door No. XL/6030, 1st Floor, Al-Falah Plaza, Opp. Oriental Bank of
Commerce, Broadway North End, Kochi 682 031.
Email: crmf.kochi@canararobeco.com
Tel.: (0484) 2364846 Fax: (0484) 2364836 Cell: 94471 64846
KOLKATA
Nilotpal Banerjee, Mangalam 'A', Room No. 304, 3rd Floor, 24, Hemanta Basu Sarani
Kolkata 700 001. Email: crmf.kolkata@canararobeco.com
Tel.: (033) 30288275, 30283275 Fax: (033) 30280275 Cell: 98302 81046
KOTTAYAM
C/o. Canara Bank,Western Gate, Temple Road, Thirunakkara, Kottayam 686 001.
Email: crmf.kottayam@canararobeco.com
Tel: (0481) 2583122
LUDHIANA
Rohit Arora, Room No. 328, 3rd Floor,Ludhiana Stock Exchange Building, Feroze
Gandhi Market, Ludhiana 141 001. Email: crmf.ludhiana@canararobeco.com
Tel.: (0161)2421333 Fax: (0161) 2421333 Cell: 9876111204
MANGALORE
G. Muralidhar Shenoy, 1st Floor Essel Towers, Bunts Hostel Circle Mangalore 575 003.
Email: crmf.mangalore@canararobeco.com
Tel: (0824) 2448804 Telefax: (0824) 2445565 Cell: 94481 46416.
MUMBAI
Kalpesh Morekar, Construction House, 4th Floor, 5, Walchand Hirachand Marg, Ballard
Estate,Mumbai 400 001. Email: crmf.mumbai@canararobeco.com
Tel.: (022) 22621371/66585000-5010 Fax: (022) 66585012/13
Kalpesh: 98209 86257 Prajot : 98678 59792
NAGPUR
Shrikant Deshpande, Unit no. C/6 4th Floor Indu Yash II, 186, Cement Road Dharam
Peth Extention, Nagpur 400010. Email: crmf.nagpur@canararobeco.com
Tel.: (0712) 6615364 Cell: 98202 32025
PATNA
Mani Prakash, 401/402, Aashiana, Hariniwas, 4thFloor, Dak Bunglow Road,
Patna 800001. Email: crmf.patna@canararobeco.com
Tel.: (0612) 2227950 Cell: 98350 58708.
PUNE
Kuldeep Thorgule, Deccan Mall, Office 1 & 2, 1st Floor, Deccan Gymkhana,
Pune 411 004. Email: crmf.pune@canararobeco.com
Tel.: (020) 65240556 Fax: (020) 25661454 Cell: 98906 74503
SURAT
Uday Shanbhag, Unit Nos .HG1/2, Megharatna Complex, Near State Bank of India,
Athugar Street, Nanpura, Surat 395 001. Email : crmf.surat@canararobeco.com
Tel.: (0261) 6554243 Cell: 98982 79767
TRICHY
S. Sundarajan, Srinivasa Complex, No. 145/74 C, Salai Road, Trichy 620 018.
Email: crmf.trichy@canararobeco.com
Tel.: (0431) 2750130 Cell: 9840867895
VADODARA
Aparajit Sarkar, 116, Siddharth Complex, R.C. Dutt Road, Alkapuri, Vadodara 390 007.
Email: crmf.baroda@canararobeco.com
Tel: (0265) 2326483 Telefax: (0265) 2356843 Cell: 98256 06483.
VISAKHAPATNAM
Abhishek Agarwal, Vidisha Towers, 47-14-10 Flat No. 3, 3rd Floor, Dwarkanagar Main
Road, Vishakhapatnam 530 016.Email: crmf.vizag@canararobeco.com
Tel.: (0891) 6556645 Fax: (0891) 6631646 Cell: 9885986791

Statutory Details : Canara Robeco Mutual Fund (CRMF) has been set up as a Trust under Indian Trust Act, 1882. Sponsors : Canara Bank, Head Office, 112 J
C Road, Bangalore; Robeco Groep N.V., Coolsingel 120, 3011 Rotterdam, Netherlands. Risk Factors : Mutual Funds and securities investments are subject to
market risks and there can be no assurance or guarantee that the objectives of the Schemes will be achieved. Canara Robeco Interval Scheme is only the
name of the Scheme and does indicate the future prospects or the returns. As with any investment in securities, the NAV of the units issued under the
Schemes may go up or down depending on the factors and forces affecting the securities market. Past performance of the Sponsors/AMC/Mutual Fund do
not guarantee future performance of the Schemes. The Sponsors of the Fund are not responsible or liable for any loss or shortfall resulting from the
operations of the Schemes of CRMF, beyond the initial contribution of a sum of Rs. 10 lacs towards setting up of CRMF. Investors should read the Offer
Document for Scheme specific risk factors and other details before investing.

Offer Document Interval Printed on 14.01.2008