Investor Corner

Investor Information

1)Scheme Codes (For all CRAMC Schemes)

2)Ultimate Beneficial Ownership

As a part of Client Due Diligence (CDD) Process under PMLA 2002 read with PMLA Rules, 2005 every SEBI registered entity, which inter alia includes Mutual Funds, is required to obtain sufficient information from their clients in order to identify and verify the identity of persons who beneficially own or control the securities account. Further, pursuant to SEBI Master Circular No. CIR/ISD/AML/3/2010 dated December 31, 2010 on anti-money laundering standards and Guidelines on identification of Beneficial Ownership issued by SEBI vide its Circular No. CIR/MIRSD/2/2013 dated January 24, 2013, investors (other than Individuals) are required to provide details of Ultimate Beneficial Owner(s) (“UBO(s)”) and submit proof of identity (viz. PAN with photograph or any other acceptable proof of identity prescribed in common KYC form) of UBO(s). In order to comply with the above Act/Rules/Regulations & Guidelines, the following CDD process is being implemented by Canara Robeco Mutual Fund.

Applicability

  • Providing information about beneficial ownership will be applicable to the subscriptions received from all categories of investors except Individuals and a Company listed on a stock exchange or is a majority owned subsidiary of such a Company.
  • Proof of Identity of the UBO such as Name/s, Address & PAN/Passport together with self-attested copy* alongwith the declaration form for ‘Ultimate Beneficial Ownership’ are required submitted to Canara Robeco AMC/its RTA.

    (* Original to be shown for verification and immediate return.)

  • In case of any change in the beneficial ownership, the investor should immediately intimate Canara Robeco AMC / its Registrar / KRA, as may be applicable, about such changes.

Identification Process For Investors other than Individuals or Trusts

  • If the investor is an unlisted company, partnership firm or unincorporated association / body of individuals, the beneficial owners are the natural person/s who are acting alone or together, or through one or more juridical person and exercising control through ownership or who ultimately has a controlling ownership interest.
  • Controlling ownership interest means ownership of /entitlement to: > more than 25% of shares or capital or profits of the juridical person, where juridical person is a company. > more than 15% of the capital or profits of the juridical person, where the juridical person is a partnership firm; or > more than 15% of the property or capital or profits of the juridical person, where the juridical person is an unincorporated association or body of individuals.
  • In cases, In cases where there exists doubt as to whether the person with the controlling ownership interest is the beneficial owner or where no natural person exerts control through ownership interests, the identity details should be provided of the natural person who is exercising control over the juridical person through other means (i.e. control exercised through voting rights, agreement, arrangements or in any other manner).
  • Where no natural person is identified under any of the above criteria, the person who holds the position of senior managing official shall be provided.

For Investor which is a Trust

In case of a Trust, the settler of the trust, the trustee, the protector and the beneficiaries with 15% or more interest in the trust or any other natural person exercising ultimate effective control over the trust through a chain of control or ownership shall be considered as beneficial owner.

For Foreign Investors

The Know Your Client requirements in case of foreign investors viz. Foreign Institutional Investors (FIIs), Sub accounts and Qualified Foreign Investors (QFIs) as specified in SEBI circular no CIR/MIRSD/11/2012 dated September 5, 2012 shall be considered for the purpose of identification of beneficial ownership of the investor.

3)Acceptance of third party payments for subscription of units

Restriction on Acceptance of Third Party Payments for Subscription of Units

1. Canara Robeco Asset Management Company Limited ("AMC")/Canara Robeco Mutual Fund ("Mutual Fund"), shall not accept applications for subscriptions of units accompanied with Third Party Payments from the Effective Date except in cases as enumerated in para 2A below.

"Third Party Payment" means payment made through an instrument issued from a bank account other than that of the first named applicant/investor mentioned in the application form. In case of payment instruments issued from a joint bank account, the first named applicant/investor must be one of the joint holders of the bank account from which the payment instrument is issued.

2. A. As referred to in para 1 above, following are the exceptional cases where third party payments will be accepted subject to submission of requisite documentation/declarations.

  1. Payment by Parents (father / mother or a court appointed legal guardian) on behalf of a minor in consideration of natural love and affection or as gift. The Parents will have to comply with all the requirements specified in 2B below;
  2. Payment by Related Persons* on behalf of a minor in consideration of natural love and affection or as gift for a value not exceeding Rs. 50,000 for each regular purchase or per SIP installment (This limit of Rs. 50,000 shall not be applicable for investments in Canara Robeco Children's Gift Fund. However, the Donors will have to comply with all the requirements specified in 2B below.
  3. Payments by an employer on behalf of employee as lump sum / one-time subscription/SIP through Payroll deductions will be also be treated as an exception to the third party investment restriction. Here, the requirement of the employer to submit third party declaration form and being KYC compliant will apply.
  4. Custodian on behalf of an FII or a Client. * 'Related Person' means any person investing on behalf of a minor in consideration of natural love and affection or as a gift.

    * 'Related Person' means any person investing on behalf of a minor in consideration of natural love and affection or as a gift.

2.B. Investors submitting their applications through the above mentioned 'exceptional cases' are required to comply with the following, without which applications for subscriptions for units will be rejected/not processed/refunded.

  1. Mandatory KYC for all investors (guardian in case of minor) and the person making the payment i.e. third party. In order for an application to be considered as valid, investors and the person making the payment should attach their valid KYC Acknowledgement Letter to the application form.
  2. Submission of a separate, complete and valid 'Third Party Payment Declaration Form' from the investors (guardian in case of minor) and the person making the payment i.e. third party. The said Declaration Form shall, inter alia, contain the details of the bank account from which the payment is made and the relationship with the investor(s). Please contact the nearest Investor Service Centre (ISC) of Canara Robeco Mutual Fund or visit our website www.canararobeco.com for the said Declaration Form.

3. The Mutual Fund shall adopt the following procedures to ascertain whether payments are Third Party Payments and investors are therefore required to comply with the requirements specified hereinbelow.

(i) Source of funds - if paid by cheque

An investor at the time of his/her purchase of units must provide in the application form the details of his pay-in bank account (i.e. account from which a subscription payment is made) and his pay-out bank account (i.e. account into which redemption/dividend proceeds are to be paid). Identification of third party cheques by the AMC/Mutual Fund/Registrar & Transfer Agent (R&TA) will be on the basis of either matching of payin bank account details with pay-out bank account details or by matching the bank account number/name/signature of the first named applicant/ investor with the name/account number/signature available on the cheque. If the name is not pre-printed on the cheque or signature on the cheque does not match, then the first named applicant/investor should submit any one of the following documents:

(a) a copy# of the bank passbook or a statement of bank account having the name and address of the account holder and account number;

(b) a letter* (in original) from the bank on its letterhead certifying that the investor maintains an account with the bank, along with information like bank account number, bank branch, account type, the MICR code of the branch & IFSC Code (where available). # Investors should also bring the original documents along with the documents mentioned in (a) above to the ISCs/Official Points of Acceptance of Canara Robeco Mutual Fund. The copy of such documents will be verified with the original documents to the satisfaction of the AMC/Mutual Fund/R&TA. The original documents will be returned across the counter to the investor after due verification.

RESTRICTION ON ACCEPTANCE OF THIRD PARTY PAYMENTS FOR SUBSCRIPTION OF UNITS OF SCHEMES OF Canara Robeco MUTUAL FUND

* In respect of (b) above, it should be certified by the bank manager with his/her full signature, name, employee code, bank seal and contact number. Investors should note that where the bank account numbers have changed on account of the implementation of core banking system at their banks, any related communication from the bank towards a change in bank account number should accompany the application form for subscription of units.

The Mutual Fund has also provided a facility to the investors to register multiple bank accounts. By registering multiple bank accounts, the investors can use any of the registered bank accounts to receive redemption/dividend proceeds. These account details will be used by the AMC/ Mutual Fund/R&TA for verification of instrument used for subscription to ensure that third party payments are not used for mutual fund subscription, except where permitted in (2A) above. Investors are requested to avail the facility of registering multiple bank accounts by filling in the Application Form for Registration of Multiple Bank Accounts available at our Investor Service Centres (ISCs) or on our website www.canararobeco.com

(ii) Source of funds - if funded by pre-funded instruments such as Pay Order, Demand Draft, Banker's cheque etc.

Investors should attach a Certificate (in original) from the issuing banker with the purchase application, stating the Account holder's name and the Account Number which has been debited for issue of the instrument. The said Certificate should be duly certified by the bank manager with his/her full signature, name, employee code, bank seal and contact number. The account number mentioned in the Certificate should be a registered bank account or the first named applicant/investor should be one of the account holders to the bank account debited for issue of such instruments.

(iii)Source of funds - if paid by RTGS, Bank Account-to-Account Transfer, NEFT, ECS, etc.

Investors should attach to the purchase application form, an acknowledged copy of the instruction to the bank also stating the account number debited. The account number mentioned on the transfer instruction copy should be a registered bank account or the first named applicant/ investor should be one of the account holders to the bank account debited for such electronic transfer of funds.

(iv)Source of funds - if paid by a pre-funded instrument issued by the Bank against Cash

The AMC/Mutual Fund/R&TA will not accept any purchase applications from investors if accompanied by a pre-funded instrument issued by a bank against cash for investments of Rs. 50,000 or more. The investor should submit a Certificate (in original) obtained from the bank giving name, address and PAN (if available) of the person who has requested for the payment instrument. The said Certificate should be duly certified by the bank manager with his/her full signature, name, employee code, bank seal and contact number. The AMC/Mutual Fund/R&TA will check that the name mentioned in the Certificate matches with the first named investor. The above broadly covers the various modes of payment for mutual fund subscriptions. The above list is not a complete list and is only indicative in nature and not exhaustive. Any other method of payment, as introduced by the Mutual Fund, will also be covered under these provisions.

  1. In order to prevent frauds and misuse of payment instruments, the investors are mandated to make the payment instrument (cheque, demand draft, pay order, etc.) favouring either of the following (Investors are urged to follow the order of preference in making the payment instrument favouring as under):

1 "XYZ Scheme A/c Permanent Account Number"

2. "XYZ Scheme A/c First Investor Name"

For example: Canara Robeco Equity Diversified Fund A/c ABCDE1234F OR Canara Robeco Emerging Equities Fund A/c Rahul Jain.

  1. Investors transacting through MFSS/BSE StAR MF Platform under the electronic order collection system for schemes which are unlisted and Stock Exchange(s) for the listed schemes will have to comply with norms/rules as prescribed by Stock Exchange(s). In case the application for subscription does not comply with the above provisions, the AMC/Trustee retains the sole and absolute discretion to reject/not process such application and refund the subscription money and shall not be liable for any such rejection.

The Trustee reserves the right to modify the aforesaid requirements at their sole discretion. All other terms and conditions of the Statement of Additional Information will remain unchanged.

4) Investments made on behalf of Minors

A. Folios of Minors:

  1. No joint holder will be allowed in a folio with the minor. A minor shall be the first and the sole holder in a folio.
  2. A parent(i.e. father or mother) or a court appointed legal guardian can be the guardian in the folio in which a minor is a holder.
  3. While opening the folio, a copy of the document viz. birth certificate, passport copy, etc evidencing date of birth of the minor and relationship of the guardian (natural or legal guardian) with the minor should be mandatorily provided.
  4. Instructions shall be registered in such a folio held by a minor (existing or new folio) only till the date of the minor attaining majority, even though the instructions may be for a period beyond that date.

B. Change of Status from Minor to Major:

  1. All transactions/standing instructions/systematic transactions etc. will be suspended i.e. the folio will be frozen for operation by the guardian from the date of minor attaining majority.
  2. KYC Acknowledgment Letter of unit holder becoming major should also be provided.

5) MF UTILITY POS

Investors & Distributors can submit CAN Registration Forms (CRF) at any of the MF Utility Points of Service. Transactions can be submitted from the effective dates indicated against the respective locations.

6) Schemes offering units in Demat mode

Pursuant to SEBI Circular no. CIR/IMD/DF/9/2011 dated May 19, 2011, investors desirous of receiving the allotment of units (against purchase and SIP) in dematerialized ("demat") form under various options of the scheme(s)/Plan(s)** offered by the Fund will have an option in the subscription form to provide their demat details.

Investors are also advised to contact the nearest Investor Service Centre (ISC) of Canara Robeco Mutual Fund, for further information/assistance.

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