In terms of the Prevention of Money Laundering Act, 2002, the Rules issued there under and the guidelines/ circulars issued by SEBI regarding the Anti Money Laundering (AML Laws), all intermediaries, including Mutual Funds, have to formulate and implement a "Know Your Client" programme, verify and maintain the record of identity and address (es) of investors.

In order to make the data capture and document submission easy and convenient for the investors, Mutual Fund Industry has collectively entrusted this responsibility of collection of documents relating to identity and address and record keeping to an independent agency (presently CDSL Ventures Limited) that will act as central record keeping agency ('Central Agency'). PAN shall be the basis for the KYC exercise.

Investors who have done the KYC exercise shall quote the PAN to invest in the schemes of the mutual fund. Investors who wish to invest in a mutual fund shall have to submit a KYC application form along with all the prescribed documents listed in the said Form, at any of the Point of Service ('POS'). PAN shall be the basis of the said KYC process and once the KYC process is completed the PAN no. shall be quoted as a reference for all future transactions of above Rs. 50000 in Mutual Funds.The KYC application form is available at AMFI website (www.amfiindia.com).

POS are the designated centers appointed by the Central Agency for receiving and processing the KYC application forms. List and location of POS is available at www.amfiindia.com. On submission of application, documents and information to the satisfaction of the POS, the investor will be allotted provisional KYC letter across the counter.

Subsequently, the Central Agency will scrutinize the information and documents submitted by the investor, and confirm the same. However, the Central Agency may cancel the KYC within 15 Business days from the date of allotment of provisional KYC letter, in case of any deficiency in the document/information.

Intimation on cancellation of KYC letter will be dispatched by the Central Agency to the investor immediately. No communication will be sent to the investor if the KYC letter as allotted is confirmed.

Presently, it is mandatory for all applications for subscription of value of Rs. 50, 000/- and above to quote the PAN of all the applicants (guardian in case of minor) in the application for subscription. The PAN no. will be validated with the records of the Central Agency before allotting units.

In the event of any KYC application form being subsequently rejected for lack of information / deficiency / insufficiency of mandatory documentation, the investment transaction will be cancelled and the amount may be redeemed at applicable NAV, subject to payment of exit load, wherever applicable. Such redemption proceeds will be dispatched within a maximum period of 21 days from date of acceptance of application.