SID Related Disclosures


1. AMC or Investment Manager or Asset Management Company
Refers to Bank of India Investment Managers Private Limited (Formerly BOI Star Investment Managers Private Limited | Formerly BOI AXA Investment Managers Private Limited) incorporated under the provisions of the Companies Act, 1956 and approved by SEBI as an Investment Manager for Bank of India Mutual Fund.
2. AMC Website
Refers to website of the AMC at following url:
3. Applicable NAV
NAV of the Business Day on which application for Purchase / Redemption is received at the ISCs, being official points of acceptance of transactions of the Fund, subject to the prescribed cut-off times, application value and applicable load and deduction of the balance proportionate unamortized expenses, tax (if any) wherever applicable
4.Application Form / Key Information Memorandum
A form for use by an investor to Purchase Units in the Scheme. Key Information Memorandum provides important information about the Scheme
5. Business/Working day
Business day is a day other than any one or more of the following: (a) Saturday and Sunday; (b) a day on which banks in Mumbai and/or Reserve Bank of India are closed for Business day or clearing; (c) a day on which there is no RBI clearing / settlement of securities; (d) a day on which the BSE Limited (erstwhile Bombay Stock Exchange) and / or National Stock Exchange are closed or on which the securities cannot be cleared; (e) a day on which the money markets are closed or otherwise not accessible in Mumbai; (f) a day on which sale and repurchase of Units is suspended by the AMC or the Trustee for any reason; (g) in respect of a particular office(s) / ISC(s), a day on which normal Business day could not be transacted due to reasons like floods, storms, bandhs, strikes, any large scale utility, civic, transport or similar systems shutdown / disruption for any reason, any force majeure event etc or such reason as the AMC / Trustee may specify; (h) in respect of a particular ISC(s), the days on which the banks in that particular region or location are closed due to any local or regional holiday or for any other reason; and/or (i) any day on which the AMC’s office in Mumbai is closed All applications received on days other than Business day Days will be processed on the next Business day Day at Applicable NAV. Notwithstanding the above, the AMC reserves the right to declare any day as Business day Day or otherwise at any or all ISCs or to change the definition of Business day Day(s)
6. Calendar Year
A Calendar Year means period of 12 months commencing from 1st January and ending on 31st December in accordance with English Calendar.
7. Custodian
Deutsche Bank AG, Mumbai registered under the Securities and Exchange Board of India (Custodian of Securities) Regulations 1996 and having its office at 4th Floor, Nirlon Knowledge Park, Block 1, Western Express Highway Goregaon (East), Mumbai, 400063, acting as Custodian for the Mutual Fund, and includes such Custodian(s) as may be appointed from time to time. Further, Deutsche Bank AG has also been appointed as Fund Accountant.
8. Commercial Paper (CP)
Commercial Paper (CP) is an unsecured negotiable money market instrument issued in the form of a promissory note, generally issued by the corporates, primary dealers and all India Financial Institutions as an alternative source of short term borrowings. CP is traded in secondary market and can be freely bought and sold before maturity.
9. Certificate of Deposit (CD)
Certificate of Deposit (CD) is a negotiable money market instrument issued by scheduled commercial banks and select all-India Financial Institutions that have been permitted by the RBI to raise short term resources. The maturity period of CDs issued by the Banks is between 7 days to one year, whereas, in case of FIs, maturity is one year to 3 years from the date of issue.
10. ‘Consolidated Account Statement’ (CAS)
‘Consolidated Account Statement’ (CAS) referred herein shall contain details of all financial transactions during the month and unit holding as at the end of the month across all Scheme of all the mutual funds.
11. Day or Calendar Day
Any day (including Saturday, Sunday and holiday) as per English Calendar
12. Designated Collection Centres
Collection Centres (other than ISCs) of Collection Banks, being Official Points of Acceptance, for acceptance of applications for purchase of units under the Scheme during New Fund Offer Period. For clarity, Designated Collection Centres do not provide any investor or distributor services.
13. Depository
National Securities Depository Ltd. (NSDL)/Central Depository Services (India) Limited (CDSL) or such other depository as approved by the Trustee, being a body corporate as defined in the Depositories Act, 1996.
14. Depository Participant or DP
Depository Participant (DP) is an agent of the Depository who acts like an intermediary between the Depository and the investors. DP is an entity who is registered with SEBI to offer depository-related services.
15. Depository Records
Depository Records as defined in the Depositories Act, 1996 (22 of 1996), includes the records maintained in the form of books or stored in a computer or in such other form as may be determined by the said Act from time to time.
16. Derivatives
A financial instrument, traded on or off an exchange, the price of which is directly dependent upon (i.e., "derived from") the value of one or more underlying securities, equity indices, debt instruments, commodities, other derivative instruments, or any agreed upon pricing index or arrangement (e.g., the movement over time of the Consumer Price Index or freight rates) etc. is known as a derivative. Derivatives involve the trading of rights or obligations based on the underlying product, but do not directly transfer property.
17. Direct Application
Direct Application means application for Purchase of Units received from investors / Unit holders which is lodged directly at the ISCs or made through the AMC Website or any other Distributors’ Website, and which does not bear stamp or code of any distributor, sub-distributor, agent or broker or not routed through any such intermediary.
18. Direct Plan
Direct Plan is only for investors who purchase /subscribe Units in a Scheme directly with the Fund and is not available for investors who route their investments through a Distributor.
19. Eligible Stock Brokers
Refers to stock brokers and clearing members of the Stock Exchange who are registered with the Stock Exchange for providing the Stock Exchange Facility; and who have complied with the requirements specified in para 16.2 of SEBI master circular dated May 19, 2023 regarding passing the AMFI certification examination. Such stock brokers and Clearing Members will be considered as Official Points of Acceptance as per para 16.2.2 of SEBI master circular dated May 19, 2023.
20. Financial Year
Financial Year refers to a period of 12 months commencing from 1st April of a year and ending on 31st March of the following year.
21. Floating rate debt instruments
Floating rate debt instruments are debt securities issued by Central and / or State Government, corporates, PSUs or other entities with interest rates that are reset periodically. The periodicity of the interest reset could be daily, monthly, quarterly, half-yearly, annually or any other periodicity that may be mutually agreed with the issuer and the Fund. The interest of the instruments could also be in the nature of fixed basis points over the benchmark gilt yields or MIBOR.
22. ‘Foreign Portfolio Investors’ / ‘FPI’
A person who satisfies the eligibility criteria prescribed under Regulation 4 and has been registered under Chapter II of Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019, as amended from time to time and shall be deemed to be an intermediary in terms of the provisions of the SEBI Act, 1992.
23. Income Distribution and Capital Withdrawal (“IDCW”)
Income distribution cum Capital withdrawal on the units. Under the IDCW option, the Trustee may at any time decide to distribute by way of IDCW, the surplus by way of realised profit and interest, net of losses, expenses and taxes, if any, to Unitholders if, in the opinion of the Trustee, such surplus is available and adequate for distribution. The Trustee's decision with regard to such availability and adequacy of surplus, rate, timing and frequency of distribution shall be final. The Trustee may or may not distribute surplus, even if available, by way of IDCW.
24. Investment Management Agreement (IMA)
Investment Management Agreement dated November 16, 2007, including Investment Management Agreement dated May 24, 2012 and Investment Management Agreement dated June 23, 2022 between the Trustee and the AMC, and as may be amended from time to time.
25. Investor Service Centres (ISC)
Refers to Investor Service Centres, as designated from time to time by the AMC, whether of the Registrar & Transfer Agent or AMC’s own branches, being Official Points of Acceptance, authorized to receive application forms for Purchase / Redemption and other service requests / queries from investors / Unit holders.
26. Load
A charge, computed as a percentage of NAV that may be levied at the time of Purchase or Redemption of Units of the Scheme.
27. Main Portfolio
As per para 4.4 of SEBI master circular dated May 19, 2023 on ‘Creation of segregated portfolio in Mutual Fund Schemes’, ‘Main Portfolio’ shall mean scheme portfolio excluding the segregated portfolio.
28. Money Market Instruments
Money market instruments include Commercial papers, commercial bills, treasury bills, Government securities having an unexpired maturity upto one year, call or notice money, certificate of deposit, usance bill and any other like instruments as specified by the Reserve Bank of India from time to time
29. Mutual Fund or Fund or The Fund
Bank of India Mutual Fund, a mutual fund constituted as a Trust under the provisions of the Indian Trust Act, 1882, and registered with SEBI under Registration No. MF/056/08/01.
30. Net Asset Value (NAV)
Net Asset Value of the Units of the Scheme (or any of its Plans having separate NAVs) calculated in the manner provided in the SAI / SID and in conformity with the SEBI Regulations as prescribed from time to time.
31. New Fund Offer (NFO)
Offer of Units of the Scheme / its Plans for Purchase by the Investors during the New Fund Offer Period
32. Non-Convertible Debentures and Bonds
Non-convertible debentures as well as bonds are securities issued by companies / institutions promoted / owned by the Central or State Governments and statutory bodies which may or may not carry a Central/State Government guarantee, Public and private sector banks, all India Financial Institutions and Private Sector Companies. These instruments may be secured or unsecured against the assets of the Company and generally issued to meet the short term and long term fund requirements.
33. NRI (Non-Resident Indian)
Means a person resident outside India who is a citizen of India or is a person of Indian origin as defined in Foreign Exchange Management Act or any Regulations thereunder.
34. Official Points of Acceptance (OPA)
Refers to ISC, Eligible Stock Brokers, channel partners, Website, FINNET Etc. and for the purpose of submitting Redemption request will also include Depository Participants.
35. Ongoing Offer
Offer of Units under the Scheme when it becomes open-ended after the closure of the New Fund Offer Period.
36. Ongoing Offer Period
The period during which the Ongoing Offer for subscription to the Units of the Scheme is available.
37. Purchase / Subscription
Subscription to / Purchase of Units of the Scheme.
38. Purchase Price
The price (being Applicable NAV) at which the Units can be purchased, and calculated in the manner provided in this SID.
39. Rating
Rating means an opinion regarding securities, expressed in the form of standard symbols or in any other standardised manner, assigned by a credit rating agency and used by the issuer of such securities, to comply with any requirement of the SEBI (Credit Rating Agencies) Regulations, 1999.
40. Registrar and Transfer Agent or the Registrar
KFin Technologies Limited, currently acting as registrar and transfer agent to the Scheme, or any other registrar and transfer agent appointed by the AMC from time to time.
41. Repo / Reverse Repo
Sale / Purchase of Government Securities as may be allowed by RBI from time to time with simultaneous agreement to repurchase / resell them at a later date.
42. Redemption
Redemption of Units of the Scheme by a Unit holder.
43. Repurchase / Redemption Price
Price (being Applicable NAV) at which the Units can be bought back / redeemed, and calculated in the manner provided in this SID.
44. Reserve Bank of India (RBI)
Reserve Bank of India, established under the Reserve Bank of India Act, 1934, as amended from time to time.
45. Scheme Information Document (SID)
This document offering Units of the Scheme, and as modified from time to time.
46. SEBI Act
Securities and Exchange Board of India Act, 1992 as amended from time to time.
47. SEBI or the Board
The Securities and Exchange Board of India established under the SEBI Act.
48. SEBI Regulations or the Regulations
The Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended from time to time, and includes any amendments, clarifications, guidelines, notifications, circulars or press releases issued from time to time by SEBI or any other statutory authority to regulate the operation and management of mutual funds.
49. Stock Exchange Facility
Means the facility for transacting (purchase / redemption/SIP/ Switch) in the Units of the Scheme through the stock exchange infrastructure, in terms of Para 16 of the SEBI Master Circular dated May 19, 2023. Transactions shall be undertaken by the investor / Unit holders on the Stock Exchange through stock brokers and Mutual Fund Distributors in accordance with the guidelines specified by the Exchange from time to time.
50. Stock exchange mechanism/ trading platforms
MFSS and NSE NFM II (platform offered by NSE), BSE StAR MF (platform offered by BSE) or any other recognised stock exchange trading plat form, with whom the AMC may register itself to facilitate transactions in mutual fund units.
51. Segregated portfolio
As per para 4.4 of SEBI master circular dated May 19, 2023 on ‘Creation of segregated portfolio in Mutual Fund Schemes’, ‘Segregated Portfolio’ shall mean a portfolio, comprising of debt or money market instrument affected by a credit event, that has been segregated in a mutual fund scheme
52. Sponsor
Bank of India is the sponsor of the Fund.
53. Statement of Additional Information (SAI)
A document issued by the Fund providing details pertaining to constitution of the Fund, AMC, Trustee etc. and certain tax, legal and general information. SAI is legally a part of and to be read in conjunction with this SID. SAI is available on the AMC Website.
54. Large Cap companies
1st – 100th company in terms of full market capitalization
55. Switching
Redemption of units in one scheme / plan or option of the Mutual Fund and simultaneous Purchase of units in another scheme / plan or option of the Mutual Fund, against the proceeds of above redemption.
56. Total Portfolio
As per para 4.4 of SEBI master circular dated May 19, 2023 on ‘Creation of segregated portfolio in Mutual Fund Schemes’, ‘Total Portfolio’ shall mean the scheme portfolio including the securities affected by the credit event.
57. Transaction Slip
A form prescribed for use by Unit holders to request additional Purchase or Redemption of Units in the Scheme, change in bank account details or for requesting any other service / facilities offered by the AMC and mentioned in Transaction Slip.
58. Tri-Party Repo (TREPS)
Tri-Party Repo is a type of repo contract where a third entity (apart from the borrower and lender), called a Tri-Party Agent, acts as an intermediary between the two parties to the repo to facilitate services like collateral selection, payment and settlement, custody and management during the life of the transaction
59. Trust Deed or Reinstated Deed of Trust
Deed of Trust dated November 16, 2007, including restated deed of trust dated May 24, 2012, June 23, 2022 and August 07, 2023 settled by the Sponsor establishing the Fund, and as may be modified from time to time.
60.Trust Funds
Means assets, including portfolio of investments and cash and bank balances, and deposits, of the Fund. Assets of the Scheme are part of the Trust Funds.
61. Trustee or The Trustee
Bank of India Trustee Services Private Limited (Formerly BOI Star Trustee Services Private Limited| Formerly BOI AXA Trustee Services Private Limited), Trustee of the Fund, a company incorporated and registered under the Companies Act, 1956 and approved by SEBI to act as such.
62. Unit holder
A person holding Units in the Scheme of the Fund.
63. Units
The interest of the Unit holders in the Scheme, which consists of each unit representing one undivided share in the assets of the Scheme and includes any fraction of a Unit which shall represent the corresponding fraction of one undivided share in the assets of the Scheme.