SPONSOR - Edelweiss MF · SPONSOR JPMorgan Asset Management (Asia) Inc. 270 Park Avenue, New York,...

SPONSOR JPMorgan Asset Management (Asia) Inc. 270 Park Avenue, New York, New York 12017, USA

TRUSTEE JPMorgan Mutual Fund India Private Limited Registered office: J.P. Morgan Tower, Off C.S.T Road, Kalina, Santacruz (E), Mumbai 400 098, India.

ASSET MANAGEMENT COMPANY JPMorgan Asset Management India Private Limited Registered office: J.P. Morgan Tower, Off C.S.T Road, Kalina, Santacruz (E), Mumbai 400 098, India.

CUSTODIAN Standard Chartered Bank, Crescenzo, Securities Services, 3rd Floor, C-38/39, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051. India.

STATUTORY AUDITORS Price Waterhouse 252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai 400 028, India.

REGISTRAR & TRANSFER AGENT Computer Age Management Services Private Limited Unit: JPMorgan Mutual Fund 3rd Floor, Rayala Towers, 158, Anna Salai, Chennai 600 002. India.

BOARD OF DIRECTORS

JPMorgan Mutual Fund India Private Limited

1) Mr. Simon Walls, Chairman & Associate Director

2) Dr. Dharmendra Bhandari, Non-Associate Director

3) Mr. Gopalakrishnan Narayanan, Non-Associate Director

4) Mr. Surendra Singh, Non-Associate Director

5) Mr. Srinivasan Sridhar, Non-Associate Director

JPMorgan Asset Management India Private Limited

1) Mrs. Kalpana Morparia, Chairperson & Non-Executive Director

2) Mr. Nandkumar Surti, Managing Director & CEO

3) Mr. D. N. Mungale, Non-Associate Director

4) Mr. A. P. Kurian, Non-Associate Director

5) Mr. T. P. Ostwal, Non-Associate Director

6) Mr. N. Balasubramanian, Non-Associate Director

JPMorgan Mutual Fund (Matured Schemes) - Annual Report 2014-15 Page 1

JPMorgan Mutual Fund India Private Limited J.P. Morgan Tower, Off C.S.T Road, Kalina, Santacruz (E), Mumbai – 400 098.

JPMorgan Mutual Fund India Private Limited (the “Trustee”) presents its 8th report and the audited financial statements of the Schemes of JPMorgan Mutual Fund (the “Fund”), for the year ended March 31, 2015.

During the year ending March 31, 2015, JPMorgan Mutual Fund recorded strong growth in Assets Under Management (AUM). Dividends were declared under various schemes as per the provisions contained in the respective Scheme Information Documents, after considering the distributable surplus available under the respective Schemes. Details of dividends declared can be viewed on the website of the Fund viz. www.jpmorganmf.com

The Fund continued to launch new products/facilities for the investors during the year.

1. Scheme Performance, Future Outlook and Operations of Schemes As on March 31, 2015, the following 34 schemes were in existence:

l Open-ended Equity Schemes n JPMorgan India Equity Fund n JPMorgan India Mid and Small Cap Fund n JPMorgan India Top 100 Fund ~ n JPMorgan India Equity Income Fund ~ n JPMorgan India Economic Resurgence Fund ~

l Open-ended Equity Linked Savings Scheme n JPMorgan India Tax Advantage Fund

l Open-ended Fund of Funds Schemes n JPMorgan Greater China Equity Off-shore Fund n JPMorgan Emerging Markets Opportunities Equity Off-shore Fund ~ n JPMorgan ASEAN Equity Off-shore Fund n JPMorgan Europe Dynamic Equity Off-shore Fund n JPMorgan US Value Equity Offshore Fund

l Open-ended Liquid Scheme n JPMorgan India Liquid Fund

l Open-ended Income Schemes n JPMorgan India Treasury Fund n JPMorgan India Active Bond Fund n JPMorgan India Short Term Income Fund n JPMorgan India Banking and PSU Debt Fund n JPMorgan India Corporate Debt Opportunities Fund ~

l Open-ended Gilt Scheme n JPMorgan India Government Securities Fund

l Close-ended Income Schemes n JPMorgan India Hybrid Fund Series 1 n JPMorgan India Hybrid Fund Series 2 n JPMorgan India Fixed Maturity Plan - Series 14 n JPMorgan India Fixed Maturity Plan - Series 302 n JPMorgan India Fixed Maturity Plan - Series 502 n JPMorgan India Income Fund - Series 301 n JPMorgan India Income Fund - Series 501 n JPMorgan India Fixed Maturity Plan - Series 20 n JPMorgan India Fixed Maturity Plan - Series 22 n JPMorgan India Fixed Maturity Plan - Series 23 n JPMorgan India Fixed Maturity Plan - Series 30 n JPMorgan India Fixed Maturity Plan - Series 33 n JPMorgan India Fixed Maturity Plan - Series 35 ~ n JPMorgan India Fixed Maturity Plan - Series 37 ~ n JPMorgan India Fixed Maturity Plan - Series 38 ~ n JPMorgan India Fixed Maturity Plan - Series 40 ~ ~ Schemes which have not completed one year.a) Scheme Performance NOTE : Performance has been given only for those schemes that were in existence for more

than one year. JPMorgan India Equity Fund JPMorgan India Equity Fund outperformed the benchmark index by 1242 bps in the 1-year

time period, as our fundamental based bottom up stock picking approach helped in identifying winners in the changing scenario.

JPMorgan India Equity Fund - Regular Plan - Growth OptionNAV as on March 31 2015 : 23.039

Date NAV Per Unit (Rs.)

Scheme Returns

(%)^

Bench- mark

Returns #(%)

Additional Bench- mark

Returns ## (%)

Current Value of Standard Investment of Rs.10000 in the

Scheme (Rs.)

Bench- mark #(Rs.)

Additional Bench-

mark ## (Rs.)Since Inception - CAGR 10.000 11.29 9.61 9.07 23,039 20,454 19,68331/03/2014 to 31/03/2015 (Absolute) 15.961 44.35 31.93 24.89

N.A28/03/2013 to 31/03/2014 (Absolute) 13.328 19.76 17.19 18.8530/03/2012 to 28/03/2013 (Absolute) 12.621 5.60 6.03 8.23

#S&P BSE 200, ##S&P BSE SENSEX

JPMorgan India Equity Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 23.676


Scheme Returns (%) ^

Benchmark Returns

# (%)

Additional Benchmark Returns

## (%)

31/03/2014 to 31/03/2015 (Absolute) 16.151 46.59 31.93 24.89

#S&P BSE 200, ##S&P BSE SENSEXAllotment date: Regular Plan - June 14, 2007, Direct Plan - Jan 01, 2013. ̂ CAGR Returns, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Mid and Small Cap FundJPMorgan India Mid and Small Cap Fund outperformed the benchmark index by 3065 bps in the 1-year time period ended March 31, 2015, as the mid-cap segment of the market by and large rewarded our fundamental based bottom up stock picking approach.

JPMorgan India Mid and Small Cap Fund - Regular Plan - Growth OptionNAV as on March 31 2015 : 19.390


Scheme Returns

(%) ^

Bench- mark

Returns # (%)


Returns ## (%)


Scheme (Rs.)

Bench- mark #(Rs.)


## (Rs.)Since Inception - CAGR 10.000 9.54 5.37 4.58 19,390 14,628 13,84531/03/2014 to 31/03/2015 (Absolute) 10.677 81.61 50.96 24.89

N.A28/03/2013 to 31/03/2014 (Absolute) 8.312 28.45 16.36 18.8530/03/2012 to 28/03/2013 (Absolute) 7.572 9.77 -4.02 8.23

#CNX MIDCAP, ##S&P BSE SENSEX

JPMorgan India Mid and Small Cap Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 19.905

Date NAV Per Unit

(Rs.)

Scheme Returns

(%) ^

Bench-mark

Returns # (%)

Additional Benchmark

Returns ## (%)

31/03/2014 to 31/03/2015 (Absolute) 10.805 84.22 50.96 24.89

#CNX MIDCAP, ##S&P BSE SENSEX

Allotment date: Regular Plan - December 26, 2007, Direct Plan - Jan 01, 2013. ^CAGR Returns, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.JPMorgan India Tax Advantage FundJPMorgan India Tax Advantage Fund outperformed the benchmark index by 1315 bps in the 1-year time period ended March 31, 2015, as our fundamental based bottom up stock picking approach helped us identify winners in the changing scenario.

Trustees’ Report for the year ended March 31, 2015


JPMorgan India Tax Advantage Fund - Regular Plan - Growth OptionNAV as on March 31 2015 : 31.625

Date NAV Per Unit

(Rs.)

Scheme Returns

(%) ^

Bench- mark

Returns # (%)


Returns ## (%)

Current Value of Standard Investment of Rs.10000

in the

Scheme (Rs.)

Bench- mark #(Rs.)


## (Rs.)Since Inception - CAGR 10.000 20.50 21.52 20.14 31,625 33,322 31,05031/03/2014 to 31/03/2015 (Absolute) 21.798 45.08 31.93 24.89

N.A28/03/2013 to 31/03/2014 (Absolute) 18.295 19.15 17.19 18.8530/03/2012 to 28/03/2013 (Absolute) 17.470 4.72 6.03 8.23

#S&P BSE 200, ##S&P BSE SENSEX

JPMorgan India Tax Advantage Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 32.421


Scheme Returns

(%) ^

Benchmark Returns #

(%)


Returns ## (%) 31/03/2014 to 31/03/2015 (Absolute) 22.027 47.19 31.93 24.89

#S&P BSE 200, ##S&P BSE SENSEXAllotment date: Regular Plan - January 27, 2009, Direct Plan - Jan 01, 2013. ^CAGR Returns, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan Greater China Equity Off-shore FundJPMorgan Greater China Equity Off-shore Fund underperformed the benchmark in the 1-year time period ended March 31, 2015.

JPMorgan Greater China Equity Off-shore Fund - Regular Plan - Growth OptionNAV as on March 31 2015 : 19.825


Scheme Returns

(%) ^

Bench- mark

Returns # (%)


Scheme (Rs.) Benchmark #(Rs.)

Since Inception - CAGR 10.000 13.00 13.21 19,825 20,03131/03/2014 To 31/03/2015 (Absolute) 16.540 19.86 23.50

N.A28/03/2013 To 31/03/2014 (Absolute) 13.968 18.41 16.3630/03/2012 To 28/03/2013 (Absolute) 11.846 17.91 14.45

#MSCI Golden Dragon Index

JPMorgan Greater China Equity Off-shore Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 20.291



Benchmark Returns # (%)

31/03/2014 To 31/03/2015 (Absolute) 16.773 20.97 23.50#MSCI Golden Dragon IndexAllotment date: Regular Plan - August 26, 2009, Direct Plan - Jan 01, 2013. ^CAGR Returns, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan ASEAN Equity Off-shore FundJPMorgan ASEAN Equity Off-shore Fund outperformed the benchmark index by 50 bps in the time period ended March 31, 2015.JPMorgan ASEAN Equity Off-shore Fund - Regular Plan - Growth OptionNAV as on March 31 2015 : 16.461


Scheme Returns

(%) ^

Bench- mark

Returns # (%)


Scheme (Rs.) Benchmark #(Rs.)

Since Inception - CAGR 10.000 14.20 12.36 16,461 15,48931/03/2014 To 31/03/2015 (Absolute) 15.390 6.96 6.46

N.A28/03/2013 To 31/03/2014 (Absolute) 15.291 0.65 4.1430/03/2012 To 28/03/2013 (Absolute) 11.655 31.20 21.79

#Morgan Stanley Capital International (MSCI) South East Asia Index

JPMorgan ASEAN Equity Off-shore Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 16.845


Scheme Returns (%)^


31/03/2014 To 31/03/2015 (Absolute) 15.589 8.06 6.46#Morgan Stanley Capital International (MSCI) South East Asia IndexAllotment date: Regular Plan - July 1, 2011, Direct Plan - Jan 01, 2013. *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan US Value Equity Off-shore FundJPMorgan US Value Equity Off-shore Fund outperformed the benchmark index by 119 bps in the time period ended March 31, 2015.

JPMorgan US Value Equity Off-shore Fund - Regular Plan - Growth OptionNAV as on March 31 2015 : 12.1721


Scheme Returns (%)^


31/03/2014 To 31/03/2015 (Absolute) 10.6534 14.26 13.07#Russell 1000 Value Index

JPMorgan US Value Equity Off-shore Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 12.3720




31/03/2014 To 31/03/2015 (Absolute) 10.7271 15.33 13.07#Russell 1000 Value IndexAllotment date: Regular Plan - August 7, 2013, Direct Plan - August 7, 2013. *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan Europe Dynamic Equity Off-shore FundJPMorgan Europe Dynamic Equity Off-shore Fund underperformed the benchmark index in the time period ended March 31, 2015.

JPMorgan Europe Dynamic Equity Off-shore Fund - Regular Plan - Growth OptionNAV as on March 31 2015 : 9.9003




31/03/2014 To 31/03/2015 (Absolute) 10.2361 -3.28 23.77#MSCI Europe Index

JPMorgan Europe Dynamic Equity Off-shore Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 10.0002




31/03/2014 To 31/03/2015 (Absolute) 10.2459 -2.40 23.77#MSCI Europe IndexAllotment date: Regular Plan - February 7, 2014, Direct Plan - February 7, 2014. *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in futureJPMorgan India Liquid FundJPMorgan India Liquid Fund is performing consistently with the peer group and benchmark. It has underperformed the benchmark by 3 bps (super institutional plan) last year mainly on account of having conservative investment philosophy.

JPMorgan India Liquid Fund - Retail Plan - Growth OptionNAV as on March 31 2015 : 16.4903


Scheme Returns

(%) ^

Bench- mark

Returns # (%)


Returns ## (%)


Scheme (Rs.)

Bench- mark #(Rs.)


## (Rs.)Since Inception - CAGR 10.0000 7.95 7.65 6.45 16,490 16,196 15,0547 days 16.4611 9.25 13.63 17.17

N.A

15 days 16.4307 8.83 10.39 14.7130 days 16.3678 8.54 9.51 11.1928/03/2014 To 31/03/2015 (Absolute) 15.1532 8.82 9.06 8.8228/03/2013 To 28/03/2014 (Absolute) 13.8935 9.07 9.46 5.7730/03/2012 To 28/03/2013 (Absolute) 12.7316 9.13 8.17 8.33

#CRISIL Liquid Fund Index, ##CRISIL 1 Year T-Bill Index



JPMorgan India Liquid Fund - Super Institutional Plan - Growth OptionNAV as on March 31 2015 : 18.1070


Scheme Returns

(%) ^

Bench- mark

Returns # (%)


Returns ## (%)


Scheme (Rs.)

Bench- mark

# (Rs.)


## (Rs.)Since Inception - CAGR 10.0000 8.20 7.61 6.22 18,107 17,378 15,7547 days 18.0746 9.35 13.63 17.17

N.A

15 days 18.0408 8.93 10.39 14.7130 days 17.9705 8.66 9.51 11.1928/03/2014 To 31/03/2015 (Absolute) 16.6070 9.03 9.06 8.8228/03/2013 To 28/03/2014 (Absolute) 15.1963 9.28 9.46 5.7730/03/2012 To 28/03/2013 (Absolute) 13.8988 9.34 8.17 8.33


JPMorgan India Liquid Fund- Direct Plan - Growth OptionNAV as on March 31 2015 : 18.1594


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%) 7 days 18.1268 9.38 13.63 17.1715 days 18.0929 8.94 10.39 14.7130 days 18.0213 8.74 9.51 11.1928/03/2014 To 31/03/2015 (Absolute) 16.6310 9.19 9.06 8.8228/03/2013 To 28/03/2014 (Absolute) 15.2000 9.41 9.46 5.77

#CRISIL Liquid Fund Index, ##CRISIL 1 Year T-Bill IndexAllotment date: Super Institutional Plan - 21 September 2007, Retail Plan - September 16, 2008, Direct Plan – Jan 01, 2013. ^CAGR Returns, *Absolute Returns, &Simple annualisation of yields. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Treasury FundJPMorgan India Treasury Fund performed in line with liquid fund philosophy of safety, liquidity and return. Due to RBI’s monetary stance reversal, and fund’s positioning, the fund outperformed the benchmark by 27 bps (super institutional plan).JPMorgan India Treasury Fund - Retail Plan - Growth OptionNAV as on March 31 2015 : 16.4561Date NAV Per

Unit (Rs.)Scheme Returns

(%) ^

Bench- mark

Returns # (%)

Additional Bench-mark

Returns ## (%)


Scheme (Rs.)

Bench- mark #(Rs.)


## (Rs/)Since Inception - CAGR 10.0000 7.91 7.65 6.45 16,456 16,196 15,05428/03/2014 To 31/03/2015 (Absolute) 15.1422 8.68 9.06 8.82

N.A28/03/2013 To 28/03/2014 (Absolute) 13.9423 8.61 9.46 5.7730/03/2012 To 28/03/2013 (Absolute) 12.7902 9.01 8.17 8.33


JPMorgan India Treasury Fund - Super Institutional - Growth OptionNAV as on March 31 2015 : 18.3624


Scheme Returns

(%) ^

Bench- mark

Returns # (%)


Returns ## (%)


Scheme (Rs.)

Bench-mark #(Rs.)


## (Rs.)Since Inception - CAGR 10.0000 8.40 7.61 6.22 18,362 17,378 15,75428/03/2014 To 31/03/2015 (Absolute) 16.7950 9.33 9.06 8.82



JPMorgan India Treasury Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 18.4233


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%) 28/03/2014 To 31/03/2015 (Absolute) 16.8253 9.50 9.06 8.8228/03/2013 To 28/03/2014 (Absolute) 15.3772 9.42 9.46 5.77

#CRISIL Liquid Fund Index, ##CRISIL 1 Year T-Bill IndexAllotment date: Super Institutional Plan - 21 September 2007, Retail Plan - September 16, 2008, Direct Plan - Jan 01, 2013. ̂ CAGR Returns, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Active Bond Fund JPMorgan India Active Bond Fund underperformed the benchmark in the 1-year time period ended March 31, 2015 due to conservative stance.

JPMorgan India Active Bond Fund-Retail Plan Growth OptionNAV as on March 31 2015 : 15.1877


Scheme Returns

(%) ^

Bench- mark

Returns # (%)


Returns ## (%)


Scheme (Rs.)

Bench-mark #(Rs.)



N.A28/03/2013 To 28/03/2014 (Absolute) 12.9271 3.94 4.32 -1.0130/03/2012 To 28/03/2013 (Absolute) 11.9071 8.57 9.24 11.25

#CRISIL Composite Bond Fund Index, ##CRISIL 10 Year Gilt IndexJPMorgan India Active Bond Fund - Institutional Plan - Growth OptionNAV as on March 31 2015 : 12.7048


Scheme Returns

(%) ^

Bench-mark

Returns # (%)


Returns ## (%)


Scheme (Rs.)

Bench- mark #(Rs.)


## (Rs.)28/03/2014 To 31/03/2015 (Absolute) 11.1143 14.31 14.67 14.63

N.A28/03/2013 To 28/03/2014 (Absolute) 10.6162 4.69 4.32 -1.01

#CRISIL Composite Bond Fund Index, ##CRISIL 10 Year Gilt Index

JPMorgan India Active Bond Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 15.5196


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%) 28/03/2014 To 31/03/2015 (Absolute) 13.5729 14.34 14.67 14.63 28/03/2013 To 28/03/2014 (Absolute) 12.9505 4.81 4.32 -1.01

#CRISIL Composite Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: Retail/Institutional Plan - June 27, 2008, Direct Plan - Jan 01, 2013. ̂ CAGR Returns, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Short Term Income FundJPMorgan India Short Term Income Fund underperformed the benchmark index by 10 bps in the 1-year time period ended March 31, 2015. The fund has always maintained a philosophy of higher accrual and less duration, to cater to the investors need.

JPMorgan India Short Term Income Fund - Regular Plan - Growth OptionNAV as on March 31 2015 : 15.3246


Scheme Returns

(%) ^

Bench-mark

Returns # (%)


Returns ## (%)


Scheme (Rs.)

Bench-mark #(Rs.)




#CRISIL Short-Term Bond Fund Index, ##CRISIL 1 Year T-Bill Index



JPMorgan India Short Term Income Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 15.4917


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%) 28/03/2014 To 31/03/2015 (Absolute) 13.9786 10.82 10.40 8.82

28/03/2013 To 28/03/2014 (Absolute) 12.8108 9.12 8.78 5.77

#CRISIL Short-Term Bond Fund Index, ##CRISIL 1 Year T-Bill IndexAllotment date: Regular Plan - March 25, 2010, Direct Plan - Jan 01, 2013. ^CAGR Returns, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Banking and PSU Debt FundJPMorgan India Banking and PSU Debt Fund outperformed the benchmark index by 57 bps in the 1-year time period ended March 31, 2015.JPMorgan India Banking and PSU Debt Fund - Regular Plan - Growth OptionNAV as on March 31 2015 : 11.6729


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%)

28/03/2014 To 31/03/2015 (Absolute) 10.5189 10.97 10.40 8.82


JPMorgan India Banking and PSU Debt Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 11.7257


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%)

28/03/2014 To 31/03/2015 (Absolute) 10.5344 11.31 10.40 8.82


Allotment date: Regular Plan - Sep 13, 2013, Direct Plan - Sep 13, 2013. ̂ CAGR Returns, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Government Securities Fund JPMorgan India Government Securities Fund outperformed the benchmark index by 262 bps in the 1-year time period ended March 31, 2015.

JPMorgan India Govt Securities Fund - Regular Plan - Growth OptionNAV as on March 31 2015 : 11.7590


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%)

28/03/2014 To 31/03/2015 (Absolute) 10.0468 17.04 14.42 14.63

#I-Sec Mi-BEX, ##CRISIL 10 Year Gilt Index

JPMorgan India Govt Securities Fund - Direct Plan - Growth OptionNAV as on March 31 2015 : 11.8089


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%)

28/03/2014 To 31/03/2015 (Absolute) 10.0497 17.51 14.42 14.63

#I-Sec Mi-BEX, ##CRISIL 10 Year Gilt Index

Allotment date: Regular Plan - Feb 13, 2013, Direct Plan - Feb 13, 2013. ̂ CAGR Returns, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Income Fund - Series 301The fund has performed in line with its investment objectives.

JPMorgan India Income Fund - Series 301 - Regular Plan - Growth OptionNAV as on March 31 2015 : 12.4131


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%)

28-03-2014 To 31-03-2015 (Absolute) 11.4103 8.79 10.40 14.63

28-03-2013 To 28-03-2014 (Absolute) 10.5530 8.12 8.78 -1.01

#CRISIL Short-Term Bond Fund Index, ##CRISIL 10 Year Gilt Index

Allotment date: July 30, 2012, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Fixed Maturity Plan - Series 302The fund has performed in line with its investment objectives.

JPMorgan India Fixed Maturity Plan - Series 302 - Regular Plan - Growth OptionNAV as on March 31 2015 : 12.2536


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%)28-03-2014 To 31-03-2015 (Absolute) 11.2603 8.82 10.40 14.6328-03-2013 To 28-03-2014 (Absolute) 10.4477 7.78 8.78 -1.01

#CRISIL Short-Term Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: Sep 20, 2012, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Income Fund - Series 501The fund has performed in line with its investment objectives.

JPMorgan India Income Fund - Series 501 - Regular Plan - Growth OptionNAV as on March 31 2015 : 12.4718


Scheme Returns

(%) ^

Benchmark Returns

# (%)



#CRISIL Composite Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: July 31, 2012, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.




Scheme Returns

(%) ^

Benchmark Returns

# (%)



#CRISIL Composite Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: Oct 8, 2012, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Hybrid Fund - Series 1The fixed income portion of this fund has contributed towards preserving capital.

JPMorgan India Hybrid Fund Series 1 - Regular Plan - Growth OptionNAV as on March 31 2015 : 14.8374


Scheme Returns

(%) ^

Benchmark Returns

# (%)



#15% BSE 200 + 85% CRISIL Composite Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: May 28, 2012, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

JPMorgan India Hybrid Fund - Series 2The fixed income portion of this fund has contributed towards preserving capital.

JPMorgan India Hybrid Fund Series 2 - Direct Plan - Growth OptionNAV as on March 31 2015 : 14.3475


Scheme Returns

(%) ^

Benchmark Returns

# (%)


Returns ## (%)28-03-2014 To 31-03-2015 (Absolute) 11.8222 21.36 12.76 14.63

#10% BSE 200 + 90% Crisil Short Term Bond Fund Index, ##CRISIL 10 Year Gilt Index

JPMorgan India Hybrid Fund Series 2 - Regular Plan - Growth OptionNAV as on March 31 2015 : 13.9254


Scheme Returns

(%) ^

Benchmark Returns

# (%)



#10% BSE 200 + 90% Crisil Short Term Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: March 28, 2013, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.




JPMorgan India Fixed Maturity Plan - Series 14 - Direct Plan - Growth OptionNAV as on March 31 2015 : 11.9552


Scheme Returns

(%) ^

Benchmark Returns

# (%)






Scheme Returns

(%) ^

Benchmark Returns

# (%)



#CRISIL Composite Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: Mar 06, 2013, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.




Scheme Returns

(%) ^

Benchmark Returns

# (%)






Scheme Returns

(%) ^

Benchmark Returns

# (%)



#CRISIL Composite Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: May 7, 2013, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.




Scheme Returns

(%) ^

Benchmark Returns

# (%)






Scheme Returns

(%) ^

Benchmark Returns

# (%)



#CRISIL Short-Term Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: Aug 06, 2013, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.




Scheme Returns

(%) ^

Benchmark Returns

# (%)






Scheme Returns

(%) ^

Benchmark Returns

# (%)



#CRISIL Short-Term Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: Sep 05, 2013, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.




Scheme Returns

(%) ^

Benchmark Returns

# (%)






Scheme Returns

(%) ^

Benchmark Returns

# (%)



#CRISIL Short-Term Bond Fund Index, ##CRISIL 10 Year Gilt IndexAllotment date: Feb 07, 2014, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.




Scheme Returns

(%) ^

Benchmark Returns

# (%)






Scheme Returns

(%) ^

Benchmark Returns

# (%)



#CRISIL Short-Term Bond Fund Index, ##CRISIL 1 Year T-Bill IndexAllotment date: Mar 05, 2014, *Absolute Returns. Since inception returns have been calculated from the date of allotment. Past Performance may or may not be sustained in future.

b) Future Outlook A) Equity Market Outlook The outlook for India equities market is optimistic given the improving trends in key

macro variables, potential for strong earnings growth and reasonable valuations of equity markets. GDP growth is picking up, inflation has come under control and twin deficits (current account and fiscal) are reducing. Lower oil and commodity prices bode well for RBI meeting its inflation target of 6% by Jan 2016. Both investments and consumption demand will likely pick-up driven by improvement in economy and government reforms.

Pick up in investments and consumption spending will likely result in improved demand and pricing power resulting in acceleration of revenue growth for Indian corporates. Benign oil and commodity prices along with further interest rate cuts going forward will bode well for corporate profitability. Further, higher demand will result in operating leverage benefits arising from better capacity utilisations. All these factors will have positive impact on earnings growth and return ratios for Indian corporate sector. Such an improvement will be key for strong performance of equity markets going forward.

In addition to improving economy, a stable and progressive government is a good news. The Indian government has been focusing on structural reforms rather than populist measures. Focus on subsidy reduction, financial inclusion, direct benefit transfer, infrastructure investments, improving ease of doing business and intention to increase manufacturing in India are steps in the right direction. These measures will likely push the growth rates without impacting inflation adversely. The key risks to India economy and equity markets are global events such as faster US Fed rate hike, spike in oil and commodity prices; and from domestic events such as government going back to populist measures to win elections, excessive delays in passing of key bills etc.



B) Debt Market Outlook Global growth continued to remain weak in 2014 as well, growing at 2.7% for the whole

year. It is expected to remain sluggish at around 2.6% in 2015-16 mainly due to weak global sentiments and lower global commodity prices. The ongoing talks of Fed rate hike in US, deflationary global environment are some of the risks to growth.

The outlook for Indian economy continues to improve with CPI inflation under control, mainly due to improvement in structural factors affecting inflation and lower global prices. On external front, India’s outlook towards Balance of payments seems robust with rise in forex reserves and buoyant foreign flows both in equity and debt. Expect a gradual improvement in growth. Around 7.2% is the expectation in 2016 under new GDP series. However, Economic growth needs to be supported by key reforms and policies from the government side and accommodative monetary policy needs to continue by the Reserve Bank of India.

The Indian Economy is set on a deflationary path since mid of 2014 mainly due to lower global prices and crude prices. We see inflation being under control and meeting RBI’s target of 6% by Jan-16.

Incrementally fundamentals are getting better with inflation trajectory trending downward and structural improvement in twin deficits both Fiscal and Current account deficit. Interest rates should continue to moderate in FY2015-16 supporting growth.

c) Investor Related Initiatives J.P. Morgan Asset Management India (JPM) will focus on widening the product range to

offer various multi-asset products having diverse risk-reward characteristics to clients across Domestic equities, International Equities and Domestic Fixed Income spectrum. In addition to offering best - in - class products, JPM will work towards emerging as AMC of choice when clients seek insights into matters pertaining to Investments. Towards this end, JPM has the following major initiatives:

Market Insights - Having run the Market Insights program at 7 locations since 2013, there is a strong following of clients and distributors in these locations and has been widely appreciated for the quality and the unbiased nature of the information provided. The endeavor going forward will be to cover more distributors and add value to their existing relationships with their clients. We aim to achieve this through timely delivery of Market Insights literature, conference calls and roadshows with strategists and sharing the latest trends in various asset classes and geographies that could help distributors take informed decisions. Continued efforts will be made to promote the Market Insights App, which is capable of delivering information to clients on the go. It essentially carries all information in the form of an App and has a unique feature to make customized presentations that can be shared with clients, as needed. The App will so be available on the Android platform as well.

Alphabet - This investor education initiative intends to provide unbiased information on investment options in mutual funds to investors using the digital platform. The content is designed considering two classes of investors - asset allocators and portfolio builders. The program was launched in February 2015 and the endeavor is to create a sustainable digital ecosystem that serves as an aggregation point of diverse and interesting content from reliable sources.

Social Media (LinkedIn) - We launched the J.P. Morgan Asset Management India and ALPHABET LinkedIn page in February 2015. It will be our constant effort to encourage more people to follow and like both pages, which could help them learn more about J.P. Morgan Asset Management India and understand investing opportunities in Mutual Funds.

District Adoption Plan - JPMorgan Mutual Fund has adopted Nellore to conduct investment education campaigns and seminars. It includes promotion of the program through billboard and print advertising in regional language, followed by seminars. Seminars will typically include basics of investing and basics of Mutual funds.

d) Operations of Schemes Our constant endeavor is to provide product offerings to suit the growing needs of the investors.

We have established seven well equipped sales offices to ensure timely and first class service to our investors. The service levels have been consistent with scaling of the business and client base.

2. Brief background of Sponsors, Trust, Trustee Co. and AMC.a) JPMorgan Asset Management (Asia) Inc. (Sponsor) The Sponsor for JPMorgan Mutual Fund is JPMorgan Asset Management (Asia) Inc. The

Sponsor is a wholly-owned indirect subsidiary of JPMorgan Chase & Co. and a part of the JPMorgan Chase Group. JPMorgan Chase is among the world’s leading global financial services firms. The Sponsor serves as the holding company for many Asian asset management businesses of JPMorgan Chase and its principal activity is to undertake asset management businesses through operating subsidiaries established for this purpose in the Asia Pacific region. The Sponsor holds 75% of the paid-up equity capital of the AMC. The balance 25% is held by J.P. Morgan India Private Limited. J.P. Morgan India Private Limited is a SEBI registered merchant banker, underwriter, a trading member of the capital market segments of the BSE and the NSE and trading-cum-clearing member of the derivatives segments of the BSE and the NSE.

b) JPMorgan Mutual Fund (Trust) JPMorgan Mutual Fund (JPMMF) was set up as a Trust by the Settlors, JPMorgan Asset

Management (Asia) Inc. on December 4, 2006 with JPMorgan Mutual Fund India Private Limited (the Trustee Company) as a Trustee in accordance with the provisions of the Indian Trust Act, 1882 and is duly registered under the Indian Registration Act, 1908. The Trustee has entered into an Investment Management Agreement dated December 6, 2006 with JPMorgan Asset Management India Private Limited (the AMC) to function as the Investment Manager for all the Schemes of JPMMF. JPMMF was registered with SEBI on February 8, 2007.

c) JPMorgan Mutual Fund India Private Limited (Trustee Co.) The Trustee is the exclusive owner of the Trust Fund and holds the same in trust for the benefit of

the unitholders. The Trustee has been discharging its duties and carrying out the responsibilities as provided in the Regulations and the Trust Deed. The Trustee seeks to ensure that the Fund and the Schemes floated thereunder are managed by the AMC in accordance with the Trust Deed, the regulations, directions and guidelines issued by SEBI, the Stock Exchanges, the Association of Mutual Funds in India and other regulatory agencies.

d) JPMorgan Asset Management India Private Limited (AMC) JPMorgan Asset Management India Private Limited is a company incorporated and registered

under the provisions of the Companies Act, 1956 having its registered office at J.P. Morgan Tower, Off C.S.T Road, Kalina, Santacruz (East), Mumbai 400 098. The AMC has been appointed to act as the Asset Management Company for JPMorgan Mutual Fund (a mutual fund approved by the Securities and Exchange Board of India) in terms of an Investment Management Agreement dated December 6, 2006.

3) Basis and Policy of Investment underlying the Scheme:a) JPMorgan India Equity Fund The investment objective of the Scheme is to generate income and long-term capital growth

from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives.

However, there can be no assurance that the investment objective of the Scheme will be realised.

b) JPMorgan India Mid and Small Cap Fund The investment objective is to seek to generate long term capital appreciation from a portfolio

that is substantially constituted of equity and equity related securities focused on smaller companies. Generally, the universe will be the companies constituting the bottom fourth by way of market capitalization of stocks listed on the National Stock Exchange or The Bombay Stock Exchange. The fund manager may from time to time include other equity and equity related securities outside the universe to achieve optimal portfolio construction.


c) JPMorgan India Top 100 Fund The primary investment objective of the Scheme is to seek to generate capital appreciation,

from a portfolio that is substantially constituted of equity securities and equity related securities of the top 100 companies, by market capitalisation, listed in India.


d) JPMorgan India Economic Resurgence Fund The primary investment objective of the Scheme is to generate long term capital appreciation,

from a diversified portfolio that is substantially constituted of equity and equity related securities of companies with focus on riding economic cycles through dynamic allocation between various sectors and stocks at different stages of economic activity.


e) JPMorgan India Equity Income Fund The investment objective of the scheme is to provide capital appreciation and income

distribution to the investors by using equity and equity related instruments, arbitrage opportunities, and investments in debt and money market instruments.

However, there can be no assurance that the investment objective of the Scheme will be realized or that income will be generated and the scheme does not assure or guarantee any returns.

f) JPMorgan India Tax Advantage Fund The investment objective of the Scheme is to generate income and long-term capital

appreciation from a diversified portfolio of predominantly equity and equity-related Securities. However, there can be no assurance that the investment objective of the Scheme will be

realized, as actual market movements may be at variance with anticipated trends.g) JPMorgan Greater China Equity Off-shore Fund The primary investment objective of the Scheme is to provide long term capital appreciation

by investing in JPMorgan Funds - Greater China Fund, an equity fund which invests primarily in a diversified portfolio of companies that are domiciled in, or carrying out the main part of their economic activity in, a country of Greater China region.

However, there can be no assurance that the investment objective of the Scheme will be realized.

h) JPMorgan ASEAN Equity Off-shore Fund The primary investment objective of the Scheme is to provide long term capital growth by

investing predominantly in JPMorgan Funds – ASEAN Equity Fund, an equity fund which invests primarily in companies of countries which are members of the Association of South East Asian Nations (ASEAN).


i) JPMorgan US Value Equity Offshore Fund The primary investment objective of the Scheme is to seek to provide long term capital growth

by investing predominantly in the JPMorgan Funds - US Value Fund, an equity fund which invests primarily in a value style biased portfolio of US companies.




j) JPMorgan Europe Dynamic Equity Offshore Fund The primary investment objective of the Scheme is to seek to provide long term capital growth

by investing predominantly in the JPMorgan Funds - Europe Dynamic Fund, an equity fund which invests primarily in an aggressively managed portfolio of European companies.


k) JPMorgan Emerging Markets Opportunities Equity Offshore Fund The primary investment objective of the Scheme is to seek to provide long term capital growth

by investing predominantly in the JPMorgan Funds - Emerging Markets Opportunities Fund, an equity fund which invests primarily in an aggressively managed portfolio of emerging market companies.


l) JPMorgan India Liquid Fund The investment objective of the Scheme is to provide reasonable returns, commensurate with

low risk while providing a high level of liquidity, through a portfolio of money market and debt securities.

However there can be no assurance that the investment objectives of the Scheme will be realized.

m) JPMorgan India Treasury Fund The investment objective is to provide liquidity and optimal returns to the investors by investing

primarily in a mix of short term debt and money market instruments which results in a portfolio having marginally higher maturity and moderately higher credit risk as compared to a liquid fund at the same time maintaining a balance between safety and liquidity.


n) JPMorgan India Active Bond Fund To generate optimal returns while maintaining liquidity through active management of the

portfolio by investing in debt and money market instruments. However, there can be no assurance that the investment objective of the Scheme will be

realised.o) JPMorgan India Short Term Income Fund The investment objective is to generate income by investing primarily in money market and

short term debt instruments. However, there can be no assurance that income can be generated, regular or otherwise or

that the investment objective of the Scheme will be realised.p) JPMorgan India Banking and PSU Debt Fund The investment objective of the Scheme is to seek to generate income by investing

predominantly in a portfolio of Debt Securities and Money Market Instruments issued by banks and PSUs.

However, there can be no assurance that the investment objective of the Scheme will be realized or that income will be generated.

q) JPMorgan India Government Securities Fund The investment objective of the Scheme is to generate income through investment in Securities

of various maturities issued and/or created by the Central Government and State Governments of India.

However, there can be no assurance that the investment objectives of the Scheme will be realized.

r) JPMorgan India Corporate Debt Opportunities Fund The investment objective is to generate regular income and opportunities for capital appreciation

while maintaining liquidity through active management of a diversifi ed portfolio comprising of corporate bonds and securities across the investment grade credit rating and maturity spectrum.

However, there can be no assurance that the investment objectives of the Scheme will be realized.

s) JPMorgan India Fixed Maturity Plans, Series - 302, 502, 14, 20, 22, 23, 30, 33, 35, 37, 38 & 40

The investment objective of the Scheme is to generate income through investments in Debt Securities/Money Market Instruments and Government of India Securities (“GoI Securities”) maturing on or before the maturity date of the Scheme. However, there can be no assurance that income can be generated, regular or otherwise, or that the investment objective of the Scheme will be realised.

t) JPMorgan India Income Fund Series 301 & 501 The investment objective of the Scheme is to generate income through investments in Debt

Securities/money market instruments and Government of India Securities (“GoI Securities”) maturing on or before the maturity date of the Scheme.

However, there can be no assurance that income can be generated, regular or otherwise, or that the investment objective of the Scheme will be realized.

u) JPMorgan India Hybrid Fund Series 1 & 2 The Scheme seeks to generate returns and reduce interest rate volatility, through a portfolio

of fixed income securities that are maturing on or before the maturity of the Scheme along with capital appreciation through equity exposure.

However, there can be no assurance that income can be generated, regular or otherwise or that the investment objective of the Scheme will be realised.

4) JPMorgan Mutual Fund - Voting Policy Background JPMorgan Asset Management India Private Limited, acts as an asset management company

(“Investment Managers”) to the scheme of JPMorgan Mutual fund (the “Fund”). As an Investment Manager the AMC has a fiduciary responsibility to act in the best interest of the unit holders of the Fund. This responsibility includes exercising voting rights attached to the securities of the companies in which the schemes of the Fund invest (“Investee Company”) at the general meetings of the Investee Companies in the best interest of the unit holders. In terms of the Securities and Exchange Board of India (“SEBI”) circular no. SEBI/IMD/CIR No.18/198647/2010 dated March 15, 2010 and clarificatory email received from SEBI on June 23, 2011, the AMC has framed the general voting policy and procedures for exercising the voting rights (“Voting Policy”). This voting policy shall be appllicable to all equity holdings across all our Mutual Fund Schemes.

5) Philosophy of Voting Policy JPMAMIPL is committed to delivering superior investment performance to its clients worldwide

and believes that one of the drivers of investment performance is an assessment of the corporate governance principles and practices of the companies in which the portfolios managed by it invests. Hence, assessment of corporate governance practices of potential investee companies at the time of initial investment is an integral part of the investment process of JPMAMIPL.

In relation to voting, it is JPMAMIPL’s policy to act in a prudent and diligent manner, based exclusively on its reasonable judgment of what will best serve the financial interests of the beneficial owners of the security.

JPMAMIPL avails the services of an independent proxy voting agency as its Proxy Administrator to facilitate JPMAMIPL to exercise its voting rights in an as efficient manner as possible. The Proxy Administrator is assigned responsibility of coordinating with the relevant Scheme’s Custodians to ensure that all proxy materials are processed in a timely fashion.

For general non-contentious matters raised at the Annual General Meeting of a listed company (such as, Approval of Annual Accounts, Declaration of Dividend, etc.) votes shall normally be cast as per the recommendation of the board of the investee company, subject to the general voting guidelines adopted by the Investment & Valuation Committee and/or any overriding discretionary decision of the Investment & Valuation Committee.

JPMAMIPL recognizes that in exceptional circumstances, further analysis may be required by the Investment & Valuation Committee and decisions will be taken on a case by case basis by the Investment & Valuation Committee. In case of exceptional or contentious matters (such as: substantial merger/acquisition and major corporate restructuring) the Proxy Administrator will refer such matters to the Investment & Valuation Committee. The Investment & Valuation Committee will convey its decision to the Proxy Administrator for execution. The Proxy Administrator shall submit an action taken report to the Investment & Valuation Committee on a quarterly basis. The Internal Auditors of the AMC shall verify the Proxy Administrator’s report on a quarterly basis.

JPMAMIPL manages the voting rights of the shares entrusted to it as it would manage any other asset.

To ensure JPMAMIPL fulfils its fiduciary obligation to always act in the best interest of its unit holders, the Proxy Administrator shall scrutinize every proxy individually, and will highlight exceptional matters to the Investment & Valuation Committee. JPMAMIPL’s primary concern at all times is the best economic interests of the unit holders of the relevant Schemes. This Policy (including any general voting guidelines) is therefore an indication only of JPMAMIPL’s normal voting policy.

JPMAMIPL may decide to not vote in relation to certain securities positions if, in the judgment of the Investment and Valuation Committee, the expense and administrative inconvenience or other burdens outweigh the benefits to unit holders or the Fund. There may be situations in which JPMAMIPL may be unable to vote, or may choose not to vote, such as where:

i. A meeting notice was received too late; ii. The Schemes held shares on the record date but has sold them prior to the meeting

date; or iii. JPMAMIPL believes it is not in the best interest of the unit holders to vote for any other

reason not enumerated herein.

However, in situations where JPMAMIPL is unable to exercise a vote for any reason whatsoever, it shall be deemed to have abstained from voting, or as otherwise indicated by the Proxy Administrator.

For equity securities held solely for the purpose of arbitrage position and where there are no such similar securities held for long only purpose in any other schemes, JPMAMIPL will abstain from voting as investment in such securities is to take advantage of the arbitrage spread and JPMAMIPL do not have a fundamental call on the same.

JPMAMIPL is an indirect subsidiary of a foreign bank; therefore its voting rights in the stocks of banking companies in India shall be exercised subject to the relevant RBI regulations and guidelines applicable to foreign banks.

The various aspects of voting including exercise of proxy vote, manner of taking poll, etc. shall be subject to the relevant provisions of the Act, as may be applicable.



Voting Guidelines There may be the following specific instances: i. Investment by a scheme of JPMorgan Mutual Fund in a Group Company of the AMC

- The Proxy Administrator shall take an action in case of these companies as it would do for other companies. JPMAMIPL does not take into account whether a company is a group company or not while deciding on a voting action.

ii. Investment by a scheme of JPMorgan Mutual Fund in companies which have invested in schemes of JPMorgan Mutual Fund - The Proxy Administrator shall take an action in case of these companies as it would do for other companies.

iii. JPMAMIPL does not take into account whether a company has invested in its scheme or not while deciding on a voting action.

1. ConflictsofProxyVoting: It is the responsibility of the Proxy Administrator to exercise discretion (or escalate to

the Investment & Valuation Committee) in a case, where there is any direct or indirect conflict of interest involving itself regarding Proxy Voting and the Proxy Administrator should not be influenced by any over-riding interests. On any potential conflict of interest concerning JPMAMIPL or the Funds, the compliance function within the Investment & Valuation Committee should be consulted to determine whether any actual conflict of interest exists and the Investment & Valuation Committee shall make a recommendation on how to vote/abstain from voting the proxy. All conflicts of interest shall be resolved in the interest of the unit holders of the relevant Schemes.

2. Disclosures: Pursuant to SEBI Circular No.CIR/IMD/DF/05/2014, dated March 24, 2014 JPMAMIPL

is required to: i. Record and disclose specific rationale supporting voting decision (for, against or abstain)

with respect to each vote proposal, on a quarterly and annual basis in the SEBI prescribed format.

ii. Publish summary of the votes cast across all investee companies and its break-up in terms of total number of votes cast in favor, against or abstained from on an annual basis in the SEBI prescribed format.

iii. Make disclosure on the website of votes cast on a quarterly basis, within 10 working days from the end of the quarter.

iv. Disclose voting details in the annual report

v. Obtain Auditor’s certification on the voting reports on an annual basis. Such auditor’s certification to be submitted to trustees and also disclosed in the relevant portion of the annual report & website.

Further, Board of AMC and Trustees will be required to review and ensure that the AMC have voted on important decisions that may affect the interest of investors and the rationale recorded for vote decision is prudent and adequate. The confirmation to the same, along with any adverse comments made by auditors, shall be reported to SEBI in the half yearly trustee reports.

3. Internal Mechanism for Review and Control Process At every monthly meeting of the Investment & Valuation Committee, a statement shall

be placed for noting as regards meetings attended and voting cast, since the previous meeting.

4. Policy Changes/Updates: This policy will incorporate any relevant regulatory changes from time to time and any

such changes/updates to the policy will be carried out by the Investment & Valuation Committee. This policy is subject to change from time to time at the discretion of JPMAMIPL, without any notice.

5. Record-keeping: The Proxy Administrator shall make and keep records i.e. electronic or written copies, of

how the proxy votes have been exercised on behalf of the Fund. All relevant records i.e. proxy form and proxy solicitation materials shall be retained by JPMAMIPL for a period of 8 years.

Disclosure of Voting Policy and Exercise of Proxy Votes. This voting policy is accessible on our website [www.jpmorganmf.com] and would also

be available in our annual report from the financial year 2010-11 onwards. Disclosure of exercise of proxy votes in equity holdings across all schemes of the fund

(in the prescribed format) shall be accessible on our website. The same would also be disclosed in the annual report for the financial year 2010-11 on wards.

The above Voting Policy of JPMorgan Mutual fund was approved by the Board of Directors of JPMorgan Mutual Fund India Private Limited (the “Trustee Company”).

6) Accounting Policies All accounting policies are in accordance with the Securities Exchange Board of India (Mutual

Fund) Regulations 1996, and amendments from time to time.


7) Unclaimed Dividends & Redemptions Scheme-wise Summary of No. of Investors & Corresponding amounts as on March 31, 2015

Scheme Name Unclaimed Dividends Unclaimed Redemptions

Investors Amount in Rs. Lakhs Investors Amount in Rs. LakhsJPMorgan India Equity Fund 98 2.57 269 81.50JPMorgan India Mid and Small Cap Fund 0 - 143 31.26JPMorgan India Treasury Fund 0 - 7 1.00JPMorgan India Active Bond Fund 1 0.03 0 -JPMorgan India Alpha Fund (merged with JPMorgan India Treasury Fund) 18 0.20 0 -JPMorgan India Tax Advantage Fund 45 0.17 3 0.42JPMorgan ASEAN Equity Off-shore Fund 0 - 1 0.41JPMorgan India Short Term Income Fund 13 0.31 2 0.40JPMorgan Greater China Equity Off-shore Fund 0 - 1 0.35JPMorgan India Income Fund - Series 501 1 0.02 0 -

Note: Reminder letters for unclaimed dividends and redemptions have been sent to the investors on a monthly basis.


8) Investor Complaints Redressal of Complaints received during : 2014-2015 Name of the Mutual Fund : JPMorgan Mutual Fund Total Number of Folios : 79992

Complaint code

Type of complaint# (a) No. of complaints

pending at the beginning of

the year

(b) No. of complaints

received during the

year

Action on (a) and (b)

ResolvedNon

Actionable*

PendingWithin

30 days30-60 days

60-180 days

Beyond 180 days

0-3 months

3-6 months

6-9 months

9-12 months

I A Non receipt of Dividend on Units 0 0 0 0 0 0 0 0 0 0 0I B Interest on delayed payment of Dividend 0 0 0 0 0 0 0 0 0 0 0I C Non receipt of Redemption Proceeds 0 0 0 0 0 0 0 0 0 0 0I D Interest on delayed payment of Redemption 0 0 0 0 0 0 0 0 0 0 0II A Non receipt of Statement of Account/Unit Certificate 0 0 0 0 0 0 0 0 0 0 0II B Discrepancy in Statement of Account 0 0 0 0 0 0 0 0 0 0 0II C Data corrections in Investor details 0 24 24 0 0 0 0 0 0 0 0II D Non receipt of Annual Report/Abridged Summary 0 0 0 0 0 0 0 0 0 0 0III A Wrong switch between Schemes 0 0 0 0 0 0 0 0 0 0 0III B Unauthorized switch between Schemes 0 0 0 0 0 0 0 0 0 0 0III C Deviation from Scheme attributes 0 0 0 0 0 0 0 0 0 0 0III D Wrong or excess charges/load 0 0 0 0 0 0 0 0 0 0 0III E Non updation of changes viz. address,

PAN, bank details, nomination, etc. 0 2 2 0 0 0 0 0 0 0 0IV Others** 0 4 4 0 0 0 0 0 0 0 0V Allotment of units under incorrect Scheme/Plan/ Option 0 5 5 0 0 0 0 0 0 0 0VI Incorrect treatment of Switch Transactions 0 1 1 0 0 0 0 0 0 0 0VII Incorrect rejection of Redemption Transaction 0 1 1 0 0 0 0 0 0 0 0VIII Issues related to online trading platform 0 3 3 0 0 0 0 0 0 0 0

# including against its authorized persons/distributors/employees etc. *Non actionable means the complaint that are incomplete/outside the scope of the mutual fund ** If others include a type of complaint which is more than 10% of overall complaint, provide that reason separately.

9) Liability and Responsibility of Trustee and Sponsors The main responsibility of the Trustee is to safeguard the interest of the Unitholders and inter-alia ensure that JPMorgan Asset Management India Private Limited (the AMC) functions in the interest

of the investors and in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, the provisions of the Trustee Deed and the Statement of Additional information, Scheme Information Document/Offer Document of the respective Schemes. From the information provided to the Trustee and the reviews the Trustee has undertaken, the Trustee believes JPMorgan AMC has operated in the interest of the Unitholders.

The Sponsors are not responsible or liable for any loss or shortfall resulting from the operation of the Schemes beyond the Initial contribution of Rs. 1 lakh made by them towards setting up of JPMorgan Mutual Fund.

10) Statutory Information a) The Sponsors are not responsible or liable for any loss resulting from the operation of the Schemes of the Fund beyond their initial contribution of Rs. 1,00,000/- for setting up the Fund, and

such other accretions/additions to the same. b) The price and redemption value of the units, and income from them, can go up as well as down with fluctuations in the market value of its underlying investments. c) The full Annual Report shall be disclosed on the website (www.jpmorganmf.com) and shall be available for inspection at the Head Office of the mutual fund. Present and prospective unit holder

can obtain copy of the trust deed, the full Annual Report of the Fund/AMC at a price.

AcknowledgementsThe Trustee thanks SEBI, AMFI, the Investors, Investor Service Centres, Distributors, Key Partners, Service Providers, JPMorgan AMC and its employees for their commitment and looks forward to their continued support.

For and on behalf of the Board of Directors of JPMorgan Mutual Fund India Private Limited

Sd/- Dr. Dharmendra Bhandari Non-Associate Director

Mumbai, June 26, 2015

Disclaimer: Past performance of the Sponsor/AMC/Mutual Fund does not guarantee future performance of the scheme. Mutual Fund investments are subject to market risks, read all scheme related documents carefully.



Independent Auditor’s ReportTo,. The Trustee of JPMORGAN MUTUAL FUND

Report on the Financial Statements1. We have audited the accompanying financial statements of the under mentioned schemes of JPMorgan Mutual Fund (the “Schemes”), which comprise the Balance Sheets as at March 31, 2015, and

the related Revenue Accounts for the period mentioned below and Cash Flow Statements for the year ended March 31, 2015 (Refer Schedule 7 – Note 17), and a summary of significant accounting policies and other explanatory information, which we have signed under reference to this report.

The Schemes PeriodJPMorgan India Fixed Maturity Plan Series 12 April 01, 2014 to June 10, 2014JPMorgan India Fixed Maturity Plan Series 13 April 01, 2014 to June 11, 2014JPMorgan India Fixed Maturity Plan Series 15 April 01, 2014 to April 09, 2014JPMorgan India Fixed Maturity Plan Series 16 April 01, 2014 to April 21, 2014JPMorgan India Fixed Maturity Plan Series 18 April 01, 2014 to April 02, 2014

Trustee’s and Management’s Responsibility for the Financial Statements2. The Trustee of JPMorgan Mutual Fund and the Management of JPMorgan Asset Management India Private Limited (the “Management”) are responsible for the preparation of these financial statements

that give a true and fair view of the financial position, financial performance and cash flows of the Schemes in accordance with the accounting policies and standards specified in the Ninth Schedule of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and amendments thereto (the “Regulations”). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility3. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Standards on Auditing and other applicable authoritative

pronouncements issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence, about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Trustee and the Management, as well as evaluating the overall presentation of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion6. In our opinion, and to the best of our information and according to the explanations given to us, the accompanying financial statements give the information required by the Regulations in the manner

so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (a) in the case of the Balance Sheets, of the state of affairs of the Scheme as at March 31, 2015; (b) in the case of the Revenue Accounts, of the net surplus for the period mentioned above; and (c) in the case of the Cash Flow Statements, of the cash flows for the year ended March 31, 2015.

Report on Other Legal and Regulatory Requirements7. As required by section 55(4) of the Regulations, we report that: (a) We have obtained all the information and explanations which, to the best of our knowledge and belief, were necessary for the purpose of our audit; and (b) In our opinion, the Balance Sheets, Revenue Accounts and Cash Flow Statements dealt with by this report have been prepared in accordance with the accounting policies and standards specified

in the Ninth Schedule of the Regulations.8. As required by clause 5 (ii)(2) of the Eleventh Schedule to the Regulations, we report that the Balance Sheets, Revenue Accounts, and Cash Flow Statements dealt with by this Report are in agreement

with the books of account of the Schemes.

For PRICE WATERHOUSE Firm Registration Number: 301112E Chartered Accountants

Sd/- Vivek Prasad Partner Membership Number: 104941Place: Mumbai Date: June 26, 2015


Independent Auditor’s ReportTo, The Trustee of JPMORGAN MUTUAL FUND

Report on the Financial Statements1. We have audited the accompanying financial statements of the under mentioned schemes of JPMorgan Mutual Fund (the “Schemes”), which comprise the Balance Sheets as at March 31, 2015, and

the related Revenue Accounts for the period mentioned below and Cash Flow Statements for the year ended March 31, 2015 (Refer Schedule 7 – Note 20), and a summary of significant accounting policies and other explanatory information, which we have signed under reference to this report.

The Schemes PeriodJPMorgan India Fixed Maturity Plan Series 21 April 01, 2014 to June 17, 2014JPMorgan India Fixed Maturity Plan Series 28 April 01, 2014 to October 01, 2014JPMorgan India Annual Interval Fund April 01, 2014 to August 25, 2014JPMorgan India Fixed Maturity Plan Series 31 April 01, 2014 to February 18, 2015JPMorgan India Fixed Maturity Plan Series 32 April 01, 2014 to February 26, 2015

Trustee’s and Management’s Responsibility for the Financial Statements2. The Trustee of JPMorgan Mutual Fund and the Management of JPMorgan Asset Management India Private Limited (the “Management”) are responsible for the preparation of these financial

statements that give a true and fair view of the financial position, financial performance and cash flows of the Schemes in accordance with the accounting policies and standards specified in the Ninth Schedule of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and amendments thereto (the “Regulations”). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility3. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Standards on Auditing and other applicable authoritative

pronouncements issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence, about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Trustee and the Management, as well as evaluating the overall presentation of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion6. In our opinion, and to the best of our information and according to the explanations given to us, the accompanying financial statements give the information required by the Regulations in the manner

so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (a) in the case of the Balance Sheets, of the state of affairs of the Scheme as at March 31, 2015; (b) in the case of the Revenue Accounts, of the net surplus for the period mentioned above; and (c) in the case of the Cash Flow Statements, of the cash flows for the year ended March 31, 2015.

Report on Other Legal and Regulatory Requirements7. As required by section 55(4) of the Regulations, we report that: (a) We have obtained all the information and explanations which, to the best of our knowledge and belief, were necessary for the purpose of our audit; and (b) In our opinion, the Balance Sheets, Revenue Accounts and Cash Flow Statements dealt with by this report have been prepared in accordance with the accounting policies and standards

specified in the Ninth Schedule of the Regulations.8. As required by clause 5 (ii)(2) of the Eleventh Schedule to the Regulations, we report that the Balance Sheets, Revenue Accounts, and Cash Flow Statements dealt with by this Report are in

agreement with the books of account of the Schemes.

For PRICE WATERHOUSE Firm Registration Number: 301112E Chartered Accountants

Sd/- Vivek Prasad Partner Membership Number: 104941Place: Mumbai Date: June 26, 2015


Balance Sheet as at March 31, 2015

Schedule

JPMorgan India Fixed Maturity Plan Series 12





March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

ASSETSInvestments 1 - - - - -

6,220,337,472 4,068,591,732 2,218,628,207 4,033,719,561 1,538,577,265

Other Current Assets 2 401,083 208,969 71,457 146,226 72,624 121,627,901 63,586,106 54,351,953 4,435,170 60,964,885

TOTAL 401,083 208,969 71,457 146,226 72,624 6,341,965,373 4,132,177,838 2,272,980,160 4,038,154,731 1,599,542,150

LIABILITIESUnit Capital 3 - - - - -

5,709,576,356 3,735,145,000 2,059,586,483 3,682,078,960 1,464,650,000

Reserves and Surplus 4 - - - - - 630,472,929 395,876,524 212,680,905 354,970,862 134,414,855

Current Liabilities and Provisions 5 401,083 208,969 71,457 146,226 72,624 1,916,088 1,156,314 712,772 1,104,909 477,295

TOTAL 401,083 208,969 71,457 146,226 72,624 6,341,965,373 4,132,177,838 2,272,980,160 4,038,154,731 1,599,542,150

*Refer Note 17 in Schedule 7Notes to the Financial Statements 7 0 0 0 0 0

The Schedules referred to herein form an integral part of the Financial StatementsThis is the Balance Sheet referred to in our report of even date.

For PRICE WATERHOUSEChartered Accountants

For and on behalf of JPMorgan Asset Management India Private Limited

For and on behalf of JPMorgan Mutual Fund India Private Limited

Sd/-Vivek PrasadPartner

Sd/-Nandkumar R Surti Managing Director & CEO

Sd/- Namdev ChouguleHead - Fixed Income

Sd/-Simon Walls Chairman & Associate Director

Membership No. 104941

Sd/- T. P. OstwalIndependent Director

Sd/- Dharmendra BhandariIndependent Director

Place: MumbaiDate: June 26, 2015




Balance Sheet as at March 31, 2015

Schedule



JPMorgan India Annual Interval

Fund



March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

ASSETSInvestments 1 - - - - -

3,211,549,820 217,580,764 724,690,950 2,278,181,903 1,293,748,101

Other Current Assets 2 148,193 76,568 124,269 910,668 512,696 1,968,946 833,503 1,022,970 2,079,245 13,543,310

TOTAL 148,193 76,568 124,269 910,668 512,696 3,213,518,766 218,414,267 725,713,920 2,280,261,148 1,307,291,411

LIABILITIESUnit Capital 3 - - - - -

3,016,251,960 207,882,438 678,902,186 2,243,062,999 1,289,515,094

Reserves and Surplus 4 - - - - - 196,437,292 10,088,574 46,491,747 36,949,286 17,620,691

Current Liabilities and Provisions 5 148,193 76,568 124,269 910,668 512,696 829,514 443,255 319,987 248,863 155,626

TOTAL 148,193 76,568 124,269 910,668 512,696 3,213,518,766 218,414,267 725,713,920 2,280,261,148 1,307,291,411

*Refer Note 20 in Schedule 7Notes to the Financial Statements 7

The Schedules referred to herein form an integral part of the Financial StatementsThis is the Balance Sheet referred to in our report of even date.















Revenue Account for the year/period ended March 31, 2015

Schedule






April 01, 2014to

June 10, 2014

April 01, 2014to

June 11, 2014

April 01, 2014to

April 09, 2014

April 01, 2014to

April 21, 2014

April 01, 2014to

April 02, 2014April 01, 2013

toMarch 31, 2014

Rupees

April 01, 2013to

March 31, 2014Rupees

April 01, 2013to


April 01, 2013to


April 01, 2013to


INCOME AND GAINSInterest and Discount 6 104,633,595 70,053,318 4,534,485 19,623,187 839,960

536,392,446 352,411,075 195,368,902 343,517,555 131,893,581

Net Profit on Sale / Redemption of Investment (Other than Inter Scheme Transfer / Sale) (Note 2.3)

- - - - - - - 102,916 - 57,815

TOTAL 104,633,595 70,053,318 4,534,485 19,623,187 839,960 536,392,446 352,411,075 195,471,818 343,517,555 131,951,396

EXPENSES AND LOSSESNet Loss on Sale / Redemption of Investments (Other than Inter Scheme Transfer / Sale) (Note 2.3)

10,261,090 7,811,050 - - - 7,584,000 5,106,919 - 997,380 -

Net Loss on Inter Scheme Transfer / Sale of Investments (Note 2.3) - - - - - 7,981 - 3,613 3,233 4,584

Investment Management and Adivosry Fees (Note 4) 203,806 82,624 2,805 34,932 438 2,047,155 1,335,978 704,280 1,046,285 377,704

Transfer Agent Fees and Expenses 98,342 65,044 4,066 18,021 377 459,472 300,003 164,753 293,024 116,492

Trusteeship Fees and Expenses (Note 5) 62,207 41,125 2,805 11,644 438 302,710 197,644 108,489 192,816 76,449

Custodian Fees and Expenses (Note 6) 30,066 14,314 34 1,153 68 149,138 90,825 53,659 93,235 38,729

Audit Fees 54,076 54,076 48,540 48,540 48,540 58,550 58,550 58,049 58,049 58,049

Selling and Distribution Expense 307,360 73,726 17,298 - - 1,731,184 606,056 669,156 636,023 311,525

Listing Fees - - - - - 64,474 87,097 67,242 72,860 63,872

Investor Education Fund Expense 264,604 166,246 17,081 46,576 3,067 1,210,838 790,572 433,949 771,264 305,795

Service Tax on Management Fees 25,190 10,212 347 4,318 54 253,445 165,544 87,466 129,738 47,101

Other Operating Expenses 93,845 107,809 25,005 57,392 16,104 85,834 98,907 67,808 67,931 67,587

11,400,586 8,426,226 117,981 222,576 69,086 13,954,781 8,838,095 2,418,464 4,361,838 1,467,887

Less: Expenses to be Reimbursed by the Investment Manager (Note 7) - - (58,025) (140,825) (65,239)(449,311) (396,584) (254,263) (27,048) (113,992)

TOTAL 11,400,586 8,426,226 59,956 81,751 3,847 13,505,470 8,441,511 2,164,201 4,334,790 1,353,895

Net Realised Gain for the Year / Period 93,233,009 61,627,092 4,474,529 19,541,436 836,113 522,886,976 343,969,564 193,307,617 339,182,765 130,597,501

Net Change In Unrealised Depreciation In Value of Investments and Derivatives (Note 2.2 and 10)

15,445,148 11,354,562 146,465 678,301 - (9,550,493) (7,112,845) 933,800 (130,919) 269,253

Net Gain for the Year / Period 108,678,157 72,981,654 4,620,994 20,219,737 836,113 513,336,483 336,856,719 194,241,417 339,051,846 130,866,754

Net Change In Unrealised Appreciation In value of Investments and Derivatives (Note 2.2 and 10)

- - - (3) (23)(34,372) - - (628,558) 23

Net Surplus for the Year / Period Including Net Change in Unrealised Appreciation / Depreciation In Value Of Investments and Derivatives

108,678,157 72,981,654 4,620,994 20,219,734 836,090 513,302,111 336,856,719 194,241,417 338,423,288 130,866,777

Net Change in Unrealised Appreciation in Value of Investments and Derivatives transferred to Unrealised Appreciation Reserve (Note 2.2 and 10)

- - - 3 23 34,372 - - 628,558 (23)

Net Surplus for the Year / Period 108,678,157 72,981,654 4,620,994 20,219,737 836,113 513,336,483 336,856,719 194,241,417 339,051,846 130,866,754



Schedule






April 01, 2014to

June 10, 2014

April 01, 2014to

June 11, 2014

April 01, 2014to

April 09, 2014

April 01, 2014to

April 21, 2014

April 01, 2014to

April 02, 2014April 01, 2013

toMarch 31, 2014

Rupees

April 01, 2013to


April 01, 2013to


April 01, 2013to


April 01, 2013to


Transfer from Reserve Fund 630,472,929 395,876,524 212,680,905 354,970,859 134,414,832 117,136,446 59,019,805 18,439,488 15,919,013 3,548,078

Dividend Distributions - - - 3,977 -

Dividend Tax Thereon - - - 1,127 - - - - -

Balance Transferred to Reserve Fund 739,151,086 468,858,178 217,301,899 375,185,492 135,250,945 630,472,929 395,876,524 212,680,905 354,970,859 134,414,832


The Schedules referred to herein form an integral part of the Financial StatementsThis is the Revenue Account referred to in our report of even date.
















Schedule




Fund



April 01, 2014to

June 17, 2014

April 01, 2014to

October 01, 2014

April 01, 2014to

August 25, 2014

April 01, 2014to

February 18, 2015

April 01, 2014to

February 26, 2015June 13, 2013

toMarch 31, 2014

Rupees

September 12, 2013to


August 05, 2013to


February 11, 2014to


February 24, 2014to


INCOME AND GAINSInterest and Discount 6 57,231,285 9,981,634 28,276,265 194,793,207 114,304,640

210,344,506 10,256,879 44,414,561 27,345,373 11,968,435

Net Profit on Sale / Redemption of Investment (Other than Inter Scheme Transfer / Sale) (Note 2.3)

- - - - - - - 39,745 - -

Net Profit on Inter Scheme Transfer/ Sale of Investments (Note 2.3) - - - - - - 102,400 266,931 - -

Miscellaneous Income (Note 17) - - - - - - - 9,479 - -

TOTAL 57,231,285 9,981,634 28,276,265 194,793,207 114,304,640 210,344,506 10,359,279 44,730,716 27,345,373 11,968,435

EXPENSES AND LOSSESNet Loss on Sale / Redemption of Investments (Other than Inter Scheme Transfer / Sale) (Note 2.3)

- - - - - 8,356,752 - - - -

Investment Management and Adivosry Fees (Note 4) 112,530 33,213 50,940 881,258 436,987 615,698 31,032 117,878 66,579 28,461

Transfer Agent Fees and Expenses 55,107 12,360 23,461 168,445 99,401 187,416 9,002 33,096 21,976 9,124

Trusteeship Fees and Expenses (Note 5) 34,651 5,319 21,942 88,271 51,697 122,000 5,256 32,056 13,316 5,692

Custodian Fees and Expenses (Note 6) 24,932 3,524 10,585 69,486 40,278 79,864 3,619 14,334 3,066 651

Audit Fees 48,097 48,097 48,097 48,097 89,982 51,081 51,081 51,081 51,081 56,756

Selling and Distribution Expense 126,808 327,427 190,246 126,422 46,518 389,935 341,924 277,607 17,170 4,669

Service Tax on Management Fees 13,909 4,105 6,296 108,923 54,012 76,100 3,836 14,570 8,229 3,518

Investor Education Fund Expense 146,901 22,432 58,877 420,971 249,358 487,998 21,021 85,484 53,263 22,769

Listing Expenses - 1,652 1,652 1,652 1,652 76,405 44,944 22,472 41,573 40,450

Professional Fees - - - - - 17,978 12,360

Printing Expenses - - - - - 12,198 12,189

Other Operating Expenses 19,417 49,447 58,249 67,558 68,847 66,117 47,788 49,260 4,875 2,112

582,352 507,576 470,345 1,981,083 1,138,732 10,509,366 559,503 697,838 311,304 198,751

Less: Expenses to be Reimbursed by the Investment Manager (Note 7) - (96) - (6,561) - (100,585) (45,573) - (51,814) (93,796)

TOTAL 582,352 507,480 470,345 1,974,522 1,138,732 10,408,781 513,930 697,838 259,490 104,955

Net Realised Gain for the Year / Period 56,648,933 9,474,154 27,805,920 192,818,685 113,165,908 199,935,725 9,845,349 44,032,878 27,085,883 11,863,480

Net Change In Unrealised Depreciation In Value of Investments (Note 2.2 and 10)

3,498,433 - - - - (3,498,433) - - - -



Schedule




Fund



April 01, 2014to

June 17, 2014

April 01, 2014to

October 01, 2014

April 01, 2014to

August 25, 2014

April 01, 2014to

February 18, 2015

April 01, 2014to


toMarch 31, 2014

Rupees



August 05, 2013to


February 11, 2014to


February 24, 2014to


Net Gain for the Period Including Net Change In Unrealised Depreciation In Value of Investments

60,147,366 9,474,154 27,805,920 192,818,685 113,165,908 196,437,292 9,845,349 44,032,878 27,085,883 11,863,480

Net Change In Unrealised Appreciation In Value of Investments (Note 2.2 and 10)

- (243,225) (2,458,869) (9,863,403) (5,757,211)- 243,225 2,458,869 9,863,403 5,757,211

Net Surplus for the Period Including Net Change in Unrealised Appreciation / Depreciation In Value Of Investments

60,147,366 9,230,929 25,347,051 182,955,282 107,408,697

Net Change in Unrealised Appreciation in Value of Investments transferred to Unrealised Appreciation Reserve (Note 2.2 and 10)

243,225 2,458,869 9,863,403 5,757,211 - (243,225) (2,458,869) (9,863,403) (5,757,211)

Net Surplus for the Period 60,147,366 9,474,154 27,805,920 192,818,685 113,165,908 196,437,292 9,602,124 41,574,009 17,222,480 6,106,269

Transfer from Income Equalisation Reserve (Note 2.7) - - - - - Transfer from Reserve Fund 196,437,292 9,845,349 44,032,878 27,085,883 11,863,480 Dividend Distributions - - 4,388 5,978 - Dividend Tax Thereon - - 1,243 2,258 - Balance Transferred to Reserve Fund 256,584,658 19,319,503 71,833,167 219,896,332 125,029,388

196,437,292 9,845,349 44,032,878 27,085,883 11,863,480


The Schedules referred to herein form an integral part of the Financial StatementsThis is the Revenue Account referred to in our report of even date.















Cash Flow Statement for the year/period ended March 31, 2015






April 01, 2014to

March 31, 2015

April 01, 2014to

March 31, 2015

April 01, 2014to

March 31, 2015

April 01, 2014to

March 31, 2015

April 01, 2014to

March 31, 2015April 01, 2013

toMarch 31, 2014

Rupees

April 01, 2013to


April 01, 2013to


April 01, 2013to


April 01, 2013to


A. CashflowfromOperatingActivitiesNet Realised Gain for the Year 93,233,009 61,627,092 4,474,529 19,541,436 836,113

522,886,976 343,969,564 193,307,617 339,182,765 130,597,501

Adjustments for:-(Increase) / Decrease in Investments at cost 6,235,782,620 4,079,946,294 2,218,774,672 4,034,397,859 1,538,577,242

(522,311,605) (377,566,455) (143,705,400) (343,707,143) (70,546,776)

(Increase) / Decrease in Other Current Assets 111,735,743 62,179,032 41,933,753 (108,803) 120,398 8,124,250 33,469,396 (38,324,908) 6,839,919 (29,764)

Increase / (Decrease) in Current Liabilities (1,515,005) (947,345) (641,315) (958,683) (404,671)794,152 572,449 379,277 826,199 322,998

Net Cash Generated from Operating Activities (A) 6,439,236,367 4,202,805,073 2,264,541,639 4,052,871,809 1,539,129,082 9,493,773 444,954 11,656,586 3,141,740 60,343,959

B CashflowfromFinancingActivitiesIncrease / (Decrease) in Unit Capital (5,709,576,356) (3,735,145,000) (2,059,586,483) (3,682,078,960) (1,464,650,000)

- - - - -

Increase / (Decrease) in Unit Premium Reserve (739,151,086) (468,858,178) (217,301,899) (375,185,492) (135,250,945)

Dividend Distribution (including dividend distribution tax paid) - - - (5,104) - - - - - -

Net Cash Used in Financing Activities (B) (6,448,727,442) (4,204,003,178) (2,276,888,382) (4,057,269,556) (1,599,900,945)- - - - -

Net Increase / (Decrease) in Cash and Cash Equivalents (A+B) (9,491,075) (1,198,105) (12,346,743) (4,397,747) (60,771,863)9,493,773 444,954 11,656,586 3,141,740 60,343,959

Cash and Cash Equivalents at the beginning of the year 9,892,158 1,407,074 12,360,175 4,403,148 60,779,248 398,385 962,120 703,589 1,261,408 435,289

Cash and Cash Equivalents at the end of the year 401,083 208,969 13,432 5,401 7,385 9,892,158 1,407,074 12,360,175 4,403,148 60,779,248

Notes :

1 Cash and Cash Equivalents include the following :Balances with Banks :- In Current Account 401,083 208,969 13,432 5,401 7,385

206,517 208,850 178,234 209,365 368,805 Other Collaterised LendingCollateralised Borrowing and Lending Obligation - - - - -

9,685,641 1,198,224 12,181,941 4,193,783 60,410,443 401,083 208,969 13,432 5,401 7,385

9,892,158 1,407,074 12,360,175 4,403,148 60,779,248

2 The above Cash Flow Statement has been prepared under the "Indirect Method" set out in Accounting Standard - 3 on Cash Flow Statements, issued by The Institute of Chartered Accountants of India.

This is the Cash Flow Statement referred to in our report of even date.















Cash Flow Statement for the year/period ended March 31, 2015




Fund



April 1, 2014to

March 31, 2015

April 1, 2014to

March 31, 2015

April 1, 2014to

March 31, 2015

April 1, 2014to

March 31, 2015

April 1, 2014to

March 31, 2015June 13, 2013

toMarch 31, 2014

Rupees



August 05, 2013to


February 11, 2013to


February 24, 2013to


A. CashflowfromOperatingActivitiesNet Realised Gain for the year / period 56,648,933 9,474,154 27,805,920 192,818,685 113,165,908

199,935,725 9,845,349 44,032,878 27,085,883 11,863,480

Adjustments for:-(Increase) / Decrease in Investments at cost 3,215,048,253 217,337,539 722,232,081 2,268,318,500 1,287,990,890

(3,215,048,253) (217,337,539) (722,232,081) (2,268,318,500) (1,287,990,890)

(Increase) / Decrease in Other Current Assets 102,598 46,069 (5,545) 47,385 109,428 (102,598) (46,165) (947) (53,946) (109,428)

Increase / (Decrease) in Current Liabilities (681,321) (366,687) (195,718) 661,805 357,070 829,514 443,255 319,987 248,863 155,626

Net Cash Generated from Operating Activities (A) 3,271,118,463 226,491,075 749,836,738 2,461,846,375 1,401,623,296 (3,014,385,612) (207,095,100) (677,880,163) (2,241,037,700) (1,276,081,212)

B CashflowfromFinancingActivitiesIncrease / (Decrease) in Unit Capital (3,016,251,960) (207,882,438) (678,902,186) (2,243,062,999) (1,289,515,094)

3,016,251,960 207,882,438 678,902,186 2,243,062,999 1,289,515,094

Increase/(Decrease) in Unit Premium Reserve (256,584,658) (19,319,503) (71,833,167) (219,896,332) (125,029,388)- - - -

3Dividend Distribution (including dividend distribution tax paid) - - 5,631 8,236 - - - - - -

Net Cash Used in Financing Activities (B) (3,272,836,618) (227,201,941) (750,740,984) (2,462,967,567) (1,414,544,482)3,016,251,960 207,882,438 678,902,186 2,243,062,999 1,289,515,094

Net Increase / (Decrease) in Cash and Cash Equivalents (A+B) (1,718,155) (710,866) (904,246) (1,121,192) (12,921,186)1,866,348 787,338 1,022,023 2,025,299 13,433,882

Cash and Cash Equivalents at the Beginning of the period 1,866,348 787,338 1,022,023 2,025,299 13,433,882

Cash and Cash Equivalents at the End of the period 148,193 76,472 117,777 904,107 512,696 1,866,348 787,338 1,022,023 2,025,299 13,433,882

Notes :

1 Cash and Cash Equivalents include the following :Balances with Banks :

- In Current Account 148,193 76,472 117,777 904,107 512,696 168,864 288,078 223,207 227,963 253,422

Other Collaterised LendingCollateralised Borrowing and Lending Obligation - - - - -

1,697,484 499,260 798,816 1,797,336 13,180,460 148,193 76,472 117,777 904,107 512,696

1,866,348 787,338 1,022,023 2,025,299 13,433,882

2 The above Cash Flow Statement has been prepared under the "Indirect Method" set out in Accounting Standard - 3 on Cash Flow Statements, issued by The Institute of Chartered Accountants of India.

This is the Cash Flow Statement referred to in our report of even date.















Schedules forming part of the Balance Sheet as at March 31, 2015 and the Revenue account for the year/period ended March 31, 2015

JPMORGAN INDIA FIXED MATURITY PLAN SERIES 12, JPMORGAN INDIA FIXED MATURITY PLAN SERIES 13, JPMORGAN INDIA FIXED MATURITY PLAN SERIES 15, JPMORGAN INDIA FIXED MATURITY PLAN SERIES 16 AND JPMORGAN INDIA FIXED MATURITY PLAN SERIES 18

SCHEDULE 1 INVESTMENTS (Notes 2.2, 2.3, 10, 11, 13 and 16) (Refer to attached Statement of Portfolio Holdings as at March 31, 2015)




March 31, 2015March 31, 2014

March 31, 2015March 31, 2014

March 31, 2015March 31, 2014

Market / Fair valueRupees

Cost Rupees


Cost Rupees


Cost Rupees

Non-Convertible Debentures and Bonds Listed / Awaiting Listing - - - - - - 3,817,155,289 3,829,412,415 2,003,642,323 2,009,725,539 848,981,932 849,128,386

Privately placed Non-Convertible Debentures / Bonds - - - - - - 99,940,452 100,985,400 349,791,582 354,013,100 - -

Commercial Paper / Certificate of Deposit - - - - - - 2,303,241,731 2,305,384,805 1,715,157,827 1,716,207,655 1,369,646,275 1,369,646,286

TOTAL - - - - - - 6,220,337,472 6,235,782,620 4,068,591,732 4,079,946,294 2,218,628,207 2,218,774,672



March 31, 2015March 31, 2014

March 31, 2015March 31, 2014


Cost Rupees


Cost Rupees

Non-Convertible Debentures and Bonds Listed / Awaiting Listing - - - - 804,555,630 805,233,931 - -

Commercial Paper / Certificate of Deposit - - - - 3,229,163,931 3,229,163,928 1,538,577,265 1,538,577,242

TOTAL - - - - 4,033,719,561 4,034,397,859 1,538,577,265 1,538,577,242

SCHEDULE - 2OTHER CURRENT ASSETS






April 01, 2014to

June 10, 2014

April 01, 2014to

June 11, 2014

April 01, 2014to

April 09, 2014

April 01, 2014to

April 21, 2014

April 01, 2014to

April 02, 2014April 01, 2013

toMarch 31, 2014

Rupees

April 01, 2013to


April 01, 2013to


April 01, 2013to


April 01, 2013to


Balance with Banks- in Current Account 401,083 208,969 13,432 5,401 7,385

206,517 208,850 178,234 209,365 368,805

Collateralised Borrowing and Lending Obligation - - - - - 9,685,641 1,198,224 12,181,941 4,193,783 60,410,443

Interest Receivable on - Debentures / Bonds - - - - -

111,274,945 61,781,027 41,723,068 - -

-Collateralised Borrowing and Lending Obligation - - - - - 11,487 1,421 14,447 4,974 71,645

Receivable from Investment Manager - - 58,025 140,825 65,239 449,311 396,584 254,263 27,048 113,992

TOTAL 401,083 208,969 71,457 146,226 72,624 121,627,901 63,586,106 54,351,953 4,435,170 60,964,885




SCHEDULE - 3UNIT CAPITAL (Note 8A)

JPMorgan India Fixed Maturity Plan Series 12March 31, 2015March 31, 2014

Regular Plan - Growth Option Regular Plan - Dividend Option Direct Plan - Growth OptionUnits Rupees Units Rupees Units Rupees

Issued and Subscribed:Units of Rs. 10 each fully paid up 326,563,510.000 3,265,635,100 15,999.900 159,999 184,113,126.390 1,841,131,264

Outstanding:At the beginning of the year 326,563,510.000 3,265,635,100 15,999.900 159,999 184,113,126.390 1,841,131,264

326,563,510.000 3,265,635,100 15,999.900 159,999 184,113,126.390 1,841,131,264

Redeemed during the year / period 326,563,510.000 3,265,635,100 15,999.900 159,999 184,113,126.390 1,841,131,264 - - - - - -

At the end of the year / period - - - - - - 326,563,510.000 3,265,635,100 15,999.900 159,999 184,113,126.390 1,841,131,264


Direct Plan - Dividend Option Total Units Rupees Units Rupees

Issued and Subscribed:Units of Rs. 10 each fully paid up 60,264,999.340 602,649,993

Outstanding:At the beginning of the year 60,264,999.340 602,649,993

60,264,999.340 602,649,993

Redeemed during the year / period 60,264,999.340 602,649,993 - -

At the end of the year / period - - 60,264,999.340 602,649,993 570,957,635.630 5,709,576,356



Issued and Subscribed:Units of Rs. 10 each fully paid up 114,561,000.000 1,145,610,000 1,500.000 15,000 208,952,000.000 2,089,520,000

Outstanding:At the beginning of the year 114,561,000.000 1,145,610,000 1,500.000 15,000 208,952,000.000 2,089,520,000

114,561,000.000 1,145,610,000 1,500.000 15,000 208,952,000.000 2,089,520,000

Redeemed during the year / period 114,561,000.000 1,145,610,000 1,500.000 15,000 208,952,000.000 2,089,520,000 - - - - - -

At the end of the year / period - - - - - - 114,561,000.000 1,145,610,000 1,500.000 15,000 208,952,000.000 2,089,520,000




Outstanding:At the beginning of the year 50,000,000.000 500,000,000

50,000,000.000 500,000,000

Redeemed during the year / period 50,000,000.000 500,000,000 - -

At the end of the year / period - - - - 50,000,000.000 500,000,000 373,514,500.000 3,735,145,000



Regular Plan - Growth Option Direct Plan - Growth Option Total Units Rupees Units Rupees Units Rupees

Issued and Subscribed:Units of Rs. 10 each fully paid up 127,051,000.000 1,270,510,000 78,907,648.293 789,076,483

Outstanding:At the beginning of the year 127,051,000.000 1,270,510,000 78,907,648.293 789,076,483

127,051,000.000 1,270,510,000 78,907,648.293 789,076,483

Redeemed during the year / period 127,051,000.000 1,270,510,000 78,907,648.293 789,076,483 At the end of the year / period - - - - - -

127,051,000.000 1,270,510,000 78,907,648.293 789,076,483 205,958,648.293 2,059,586,483


Regular Plan - Growth Option Direct Plan - Growth OptionUnits Rupees Units Rupees

Issued and Subscribed:Units of Rs. 10 each fully paid up 134,499,045.632 1,344,990,456 233,703,850.390 2,337,038,504

Outstanding:At the beginning of the year 134,499,045.632 1,344,990,456 233,703,850.390 2,337,038,504

134,499,045.632 1,344,990,456 233,703,850.390 2,337,038,504

Redeemed during the year / period 134,499,045.632 1,344,990,456 233,703,850.390 2,337,038,504 At the end of the year / period - - - -

134,499,045.632 1,344,990,456 233,703,850.390 2,337,038,504



Issued and Subscribed:Units of Rs. 10 each fully paid up 5,000.000 50,000

Outstanding:At the beginning of the year 5,000.000 50,000

5,000.000 50,000

Redeemed during the year / period 5,000.000 50,000 At the end of the year / period - - - -

5,000.000 50,000 368,207,896.022 3,682,078,960


Regular Plan - Growth Option Direct Plan - Growth Option Total Units Rupees Units Rupees Units Rupees

Issued and Subscribed:Units of Rs. 10 each fully paid up 60,310,000.000 603,100,000 86,155,000.000 861,550,000

Outstanding:At the beginning of the year 60,310,000.000 603,100,000 86,155,000.000 861,550,000

60,310,000.000 603,100,000 86,155,000.000 861,550,000

Redeemed during the year / period 60,310,000.000 603,100,000 86,155,000.000 861,550,000 At the end of the year / period - - - - - -

60,310,000.000 603,100,000 86,155,000.000 861,550,000 146,465,000.000 1,464,650,000



SCHEDULE - 3UNIT CAPITAL (Note 8A) (contd....)




SCHEDULE - 4RESERVES AND SURPLUS






March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

Unit Premium Reserve (Note 2.6)At the beginning of the year - - - - - Added during the year / period (739,151,086) (468,858,178) (217,301,899) (375,185,492) (135,250,945)At the end of the year / period (739,151,086) (468,858,178) (217,301,899) (375,185,492) (135,250,945)

Unrealised Appreciation ReserveAt the beginning of the year - - - 3 23

34,372 - - 628,561 - Net Change in Unrealised Appreciation in Value of Investments and Derivatives transferred from Revenue Account (Note 2.2 and 10)

- - - (3) (23)

(34,372) - (628,558) 23 At the end of the year / period - - - - -

- - - 3 23 Reserve FundAt the beginning of the year 630,472,929 395,876,524 212,680,905 354,970,859 134,414,832

117,136,446 59,019,805 18,439,488 15,919,013 3,548,078 Balance transferred to Revenue Account (630,472,929) (395,876,524) (212,680,905) (354,970,859) (134,414,832)

(117,136,446) (59,019,805) (18,439,488) (15,919,013) (3,548,078)Balance transferred from Revenue Account 739,151,086 468,858,178 217,301,899 375,185,492 135,250,945

630,472,929 395,876,524 212,680,905 354,970,859 134,414,832 At the end of the year / period 739,151,086 468,858,178 217,301,899 375,185,492 135,250,945

630,472,929 395,876,524 212,680,905 354,970,859 134,414,832

TOTAL - - - - - 630,472,929 395,876,524 212,680,905 354,970,862 134,414,855

SCHEDULE - 5CURRENT LIABILITIES AND PROVISIONS






March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

RupeesInvestment Management and Advisory Fees 141,598 41,499 - - -

182,810 119,195 38,675 147,664 23,368 Transfer Agent Fees and Expenses - - - - -

36,318 23,678 13,030 23,150 9,171 Trusteeship Fees and Expenses - - - - -

24,407 15,911 8,756 15,558 6,163 Custodian Fees and Expenses - - - - -

34,739 20,504 12,461 21,574 9,131 Audit Fees 20,949 20,949 43,581 43,581 43,581

46,987 46,987 46,535 46,535 46,535 Selling and Distribution Expenses - - - - -

441,496 154,344 170,870 111,583 77,079 Amount held towards Investor Education Fund 201,609 124,354 17,282 94,095 20,487

1,075,464 701,954 385,272 684,547 271,374 Professional Fees 3,900 3,900 1,300 1,300 1,300

4,599 4,599 5,048 5,048 5,048 Sundry Payables 33,027 18,267 9,294 7,250 7,256

69,268 69,142 32,125 49,250 29,426 TOTAL 401,083 208,969 71,457 146,226 72,624

1,916,088 1,156,314 712,772 1,104,909 477,295




SCHEDULE - 6INTEREST AND DISCOUNT (Note 2.4)






April 01, 2014to

June 10, 2014

April 01, 2014to

June 11, 2014

April 01, 2014to

April 09, 2014

April 01, 2014to

April 21, 2014

April 01, 2014to

April 02, 2014April 01, 2013

toMarch 31, 2014

Rupees

April 01, 2013to


April 01, 2013to


April 01, 2013to


April 01, 2013to


Debentures / Bonds 61,656,933 36,734,804 1,081,806 3,938,949 - 418,034,593 317,311,498 78,999,857 134,697,834 -

Commercial Paper / Certificate of Deposit 26,115,195 12,792,345 353,714 4,939,072 422,758 111,824,450 25,201,490 114,376,606 206,335,283 129,871,339

Reverse Repos 2,880,719 1,949,996 1,108,155 6,177,777 399,290 1,135,881 2,772,987 492,278 221,724 567,451

Collateralised Borrowing and Lending Obligation 13,980,748 18,576,173 1,990,810 4,567,389 17,912 5,397,522 7,125,100 1,500,161 2,262,714 1,454,791

TOTAL 104,633,595 70,053,318 4,534,485 19,623,187 839,960 536,392,446 352,411,075 195,368,902 343,517,555 131,893,581




SCHEDULE - 7 NOTES TO FINANCIAL STATEMENTS

1. Organisation JPMorgan Mutual Fund (“JPMMF” or “the Fund”) has been established as a Trust in accordance with the Indian Trusts Act, 1882, and is sponsored by JPMorgan Asset Management (Asia) Inc.

(“Sponsor”). JPMorgan Mutual Fund India Private Limited (“JPMMFIPL”) or the “Trustee”, a company incorporated under the Companies Act, 1956, is the Trustee to JPMMF by the Trust Deed entered into between the Sponsor and JPMMFIPL.

JPMorgan Asset Management India Private Limited (“JPMAMIPL”), a company incorporated under the Companies Act, 1956, has been appointed as the asset management company (“Investment Manager”).

The key features of the Schemes presented in these financial statements are as mentioned below:-

Name of the Scheme

Type of Scheme

Launched On

Allotment Date

Tenure of Close Ended Schemes

Date of Maturity

Investment Objective Plans / Options offered


A close-ended income scheme

2 January, 2013

4 January, 2013

523 days June 10, 2014

To generate income through investments in Debt Securities / money market instruments and Government of India Securities (“GoI Securities”) maturing on or before the maturity date of the Scheme.

Regular Plan and Direct PlanBoth plans offer Growth option and Dividend option



18 January, 2013

22 January, 2013

506 days June 11, 2014





21 February,

2013

22 February,

2013

412 days April 09, 2014





07 March, 2013

14 March, 2013

404 days April 21, 2014





20 March, 2013

21 March, 2013

378 days April 02, 2014



The Scheme will not declare dividend under the Growth Option in normal circumstances. The income earned on such units will remain invested within the Scheme and will be reflected in the net asset value.

In respect of the Scheme matured during the year, investments have been liquidated on the maturity date and the unit capital has been liquidated on the business date immediately following the date of maturity. Accordingly, the Balance Sheet as at March 31, 2015 in respect of Schemes matured does not have investments and outstanding unit capital balance and has been prepared after payment of unit proceeds and other liabilities and liquidation of assets.

2 SignificantAccountingPolicies

2.1 Basis of Accounting The Schemes maintain their books of account on an accrual basis. These financial statements have been prepared in accordance with the Accounting Policies and Standards specified in the

Ninth Schedule of The Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, and amendments thereto (the “Regulation”), as applicable. Presentation of these separate Balance Sheets, Revenue Accounts and Cash Flow Statements, where applicable, in a columnar form is not intended to indicate that they bear any relation to

each other, or are interdependent or comparable in any way.

2.2 Portfolio Valuation Investments are stated at market / fair value at the Balance Sheet date / date of determination. In valuing the Scheme’s investments: (i) Instruments bought on ‘repo’ basis are valued at the resale price after deduction of applicable interest up to the date of resale. (ii) Collateralised Borrowing and Lending Obligations (CBLO) are valued at cost plus accrued interest. (iii) Money Market Securities and Debt Securities are valued as under:

A. For money market securities and debt securities (upto November 28, 2013) a) All traded money market securities and debt securities are valued at the weighted average traded YTM or weighted average price at which they are traded / reported on public

platform on the particular valuation day as per procedures determined by JPMorgan Asset Management India Private Limited and approved by the Trustee in accordance with the guidelines for valuation of securities for mutual funds, issued by SEBI from time to time.

b) Non-traded /thinly traded money market and debt securities , with residual maturity of up to 60 days are valued on amortization basis. Amortized price as per Crisil Bond Valuer (CBV) will be compared with the reference price (as per CBV) to ascertain if the difference is within the band of +/- 10 basis points of the reference price. In case of amortized price falling outside the band, the YTM of the amortised price will be adjusted in order to bring the price within the band.

c) Non-traded /thinly traded money market securities and debt securities with residual maturity of over 60 days are valued at fair value as per procedures determined by JPMorgan Asset Management India Private Limited and approved by the Trustee in accordance with the guidelines for valuation of securities for mutual funds, issued by SEBI from time to time. Thus they are valued at benchmark yield/matrix of spread over risk free benchmark yield obtained from agencies entrusted for the said purpose by AMFI. This may be further adjusted for the illiquidity mark-up / mark-down as permitted under the regulations.

B. For money market securities and debt securities (with effect from November 29, 2013) a) Money market and debt securities with residual maturity of up to 60 days are valued using weighted average price (qualifying own trades) and amortized on straight line basis. If there are no own qualifying trades on the date of valuation, straight line amortisation from last valuation based on average of scrip level prices/ last qualifying traded price

whichever is more recent is used. However, amortised price based on valuation will be compared with the reference price (calculated by Crisil Bond Valuer (CBV) using yields provided by ICRA and CRISIL) to ascertain if the difference is within the band of +/- 10 basis points of the reference price. In case of amortised price falling outside the band, such amortised price will be adjusted in order to bring the same within the band.




SCHEDULE - 7 NOTES TO FINANCIAL STATEMENTS (contd....) However, the Investment and Valuation Committee of JPMorgan Asset Management India Private Limited can, on a prospective basis, deviate from this approach and adopt

alternate procedures/methods to arrive at the fair value based on market conditions. b) Money market securities and debt securities with residual maturity of over 60 days are valued at the simple average of the scrip level prices provided by the agencies proposed

by AMFI (currently CRISIL & ICRA) on a daily basis. However, the Investment and Valuation Committee of JPMorgan Asset Management India Private Limited can, on a prospective basis, deviate from this approach and adopt

alternate procedures/methods to arrive at the fair value based on market conditions. Where scrip level prices are not available, the price of the instruments shall be arrived at in good faith by the Investment and Valuation Committee of JPMorgan Asset Management

India Private Limited as per procedures approved by the Trustee. Net unrealised appreciation / depreciation in the value of investments and derivatives is determined separately for each category of investments and derivatives. In respect

of each category of investments and derivatives, net change in unrealised appreciation if any, between two Balance Sheet dates / valuation dates is accounted through the Revenue Account and thereafter the net change in unrealised appreciation is transferred from the Revenue Account to the Unrealised Appreciation Reserve. Net change in unrealised depreciation if any, is accounted through the Revenue Account.

Net Unrealised appreciation is reduced from the distributable income at the time of income distribution.

2.3 Securities Transactions (i) Transactions for purchase and sale of investments are recognised as of the trade date. In determining the holding, cost of investments and the gain or loss on sale of investments the

’average cost’ method is followed. The cost of investments includes brokerage, stamp charges and any other charge customarily included in the contract note but excludes custodian safekeeping fees. Brokerage and Transaction cost incurred for the purpose of execution of trade is capitalized to the extent of 12 bps for cash market transactions. Costs over and above this are charged to the scheme within the maximum limit of Total Expense Ratio, in line with the Regulations.

(ii) Bonus entitlements are recognised as investments on ex-bonus date. (iii) Rights entitlements are recognised as investments on ex-rights date.

2.4 Investment Income Interest income is recorded on an accrual basis.

2.5 Net Asset Value for Growth / Dividend Option The net asset value of the units of the Schemes is determined separately for the units issued under various Plans / Options. For reporting the net asset value for the Plans / Options, daily income earned, including realised and unrealised gain or loss in the value of investments and expenses incurred by the Schemes

are allocated to the Plans / Options in proportion to the value of the net assets.

2.6 Unit Premium Reserve Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of the respective Plans / Options of the Schemes.

3 Income Taxes No provision for taxation has been made as the Schemes qualify as a recognised mutual fund under Section 10 (23D) of the Income Tax Act, 1961 of India. For taxes deducted at source from the

investment income, which are recoverable, a receivable is recorded in the books of account.

4 Investment Management and Advisory Fees The Schemes have paid or provided for investment management and advisory fees payable to JPMorgan Asset Management India Private Limited for managing the Schemes at an average annual

rate of the average daily net asset values recorded by the Schemes as provided below.

Name of the Scheme Average Daily Net Assets for the year / period ended (Rupees)

Investment Management Fees charged during the year / period (excluding

service tax)

Percentage of Management Fees charged

2015 2014 2015 2014 2015 2014JPMorgan India Fixed Maturity Plan Series 12 6,395,881,660 6,054,183,424 203,806 2,047,155 0.02% ^ 0.03%JPMorgan India Fixed Maturity Plan Series 13 4,169,533,834 3,952,856,840 82,624 1,335,978 0.01% ^ 0.03%JPMorgan India Fixed Maturity Plan Series 15 2,274,893,347 2,169,742,611 2,805 704,280 0.01% ^ 0.03%JPMorgan India Fixed Maturity Plan Series 16 4,047,684,282 3,856,316,010 34,932 1,046,285 0.01% ^ 0.03%JPMorgan India Fixed Maturity Plan Series 18 1,599,701,991 1,528,973,909 438 377,704 0.00% ^ 0.02%

^Annualised All costs, charges and expenses incurred by JPMorgan Asset Management India Private Limited in the administration and execution of the activities of the Schemes, except costs allowed to be

charged to the Schemes under the Regulations are on their own account for which they receive investment management and advisory fees.

5 Trustee Fees In accordance with the Trust Deed dated December 4, 2006, as amended from time to time, between JPMorgan Asset Management (Asia) Inc. (the “Settlor”) and JPMorgan Mutual Fund India Private

Limited (the Trustee), the Schemes have paid or provided for trustee fees payable to the Trustee at an annual average rate of the average daily net asset values recorded by the Schemes as provided below or Rs. One Crore per annum (net of taxes) in aggregate for all the schemes of the fund, whichever is lower.

Name of the Scheme Percentage of Trustee Fees charged 2015 2014

JPMorgan India Fixed Maturity Plan Series 12 0.005% ^ 0.005%JPMorgan India Fixed Maturity Plan Series 13 0.005% ^ 0.005%JPMorgan India Fixed Maturity Plan Series 15 0.005% ^ 0.005%JPMorgan India Fixed Maturity Plan Series 16 0.005% ^ 0.005%JPMorgan India Fixed Maturity Plan Series 18 0.005% ^ 0.005%

^Annualised




SCHEDULE - 7 NOTES TO FINANCIAL STATEMENTS (contd....)

6 Custodian Fees Standard Chartered Bank (SCB) provides custodial services to the schemes, for which it receives custody fees . All investments, except Government Securities, Treasury Bills, Reverse Repos,

Collateralised Borrowing and Lending Obligations, Fixed Deposits and units in overseas funds are held in safe custody of the custodian.

7 Limitation on Expenses The total expenses chargeable to the schemes are limited to the below mentioned percentage of the average daily net assets recorded by the schemes. JPMorgan Asset Management India Private

Limited has borne the below mentioned amount, in excess of the percentages of the average daily net assets allowable to be charged to the schemes as total expenses for the year / period.

Name of the Scheme Percentage of average daily net assets Excess expense borne by Investment Manager (Rupees)

2015 2014 2015 2014JPMorgan India Fixed Maturity Plan Series 12 NA 0.10% - 449,311 JPMorgan India Fixed Maturity Plan Series 13 NA 0.08% - 396,584 JPMorgan India Fixed Maturity Plan Series 15 0.11% ^ 0.10% 58,025 254,263 JPMorgan India Fixed Maturity Plan Series 16 0.04% ^ 0.09% 140,825 27,048 JPMorgan India Fixed Maturity Plan Series 18 0.04% ^ 0.09% 65,239 113,992

^Annualised

8 Initial Contribution The initial contribution of Rs. 100,000 made by the sponsor, JPMorgan Asset Management (Asia) Inc. is recorded in the books of account of JPMorgan Mutual Fund.

8A Movement in Unit Capital The movement in Unit Capital during the year / period is detailed in Schedule 3.

9 Initial Issue Expenses Initial issue expenses comprise of costs directly associated with the issue of units in the Schemes and have been borne by JPMAMIPL .

10 Aggregate Appreciation and Depreciation In Value Of Investments Aggregate appreciation and depreciation in value of investments for the following schemes are as follows:

Asset Type JPMorgan India Fixed Maturity Plan Series 12





March 31, 2015March 31, 2014

Non-Convertible Debentures and Bonds - Listed / Awaiting Listing- Appreciation - - - - -

3,051,443 - - Depreciation - - - - -

15,308,569 6,083,216 146,454 678,302 -

Privately placed Non-Convertible Debentures- Appreciation - - - - -

- - - - - Depreciation - - - - -

1,044,948 4,221,518 - - -

CommercialPaper/CertificateofDeposit- Appreciation - - - - -

7 30 26 - Depreciation - - - - -

2,143,074 1,049,828 18 26 3

11 Aggregate Fair Value of Non-traded Investments Aggregate fair value of non-traded investments as determined by JPMorgan Asset Management India Private Limited under procedures approved by the Trustee are as follows:

Name of the Scheme Fair Value (Rupees)

Fair Value (Rupees)

2015 2014JPMorgan India Fixed Maturity Plan Series 12 NA 1,822,147,632 JPMorgan India Fixed Maturity Plan Series 13 NA 2,364,877,373 JPMorgan India Fixed Maturity Plan Series 15 NA 2,218,628,207 JPMorgan India Fixed Maturity Plan Series 16 NA 4,033,719,561 JPMorgan India Fixed Maturity Plan Series 18 NA 1,538,577,265





12 Segment Reporting The Schemes are primarily engaged in the business of investing, amounts received from investors as unit capital, in accordance with their investment objectives to generate returns. Since there is

only one business segment and no geographical segments, the segmental reporting disclosures as required by Accounting Standard (AS)-17, issued by the Institute of Chartered Accountants of India have not been made.

13 Aggregate Value of Purchases and Sales of Investments The aggregate value of investment securities (excluding CBLO and Reverse Repo) purchased (including amortisation and excluding derivatives) and sold (including matured) during the year / period

(excluding accretion of discount) and their percentage of the respective average daily net assets are as follows:

Name of the Scheme March 31, 2015Aggregate Purchases Aggregate Sales

Rupees Percentage ofAverage Daily Net

Assets


AssetsJPMorgan India Fixed Maturity Plan Series 12 - 0.00% 6,291,500,000 98.37%JPMorgan India Fixed Maturity Plan Series 13 - 0.00% 4,112,059,995 98.62%JPMorgan India Fixed Maturity Plan Series 15 - 0.00% 2,220,000,000 97.59%JPMorgan India Fixed Maturity Plan Series 16 1,245,897,000 30.78% 5,289,172,880 130.67%JPMorgan India Fixed Maturity Plan Series 18 - 0.00% 1,539,000,000 96.21%



Assets


AssetsJPMorgan India Fixed Maturity Plan Series 12 2,130,170,241 35.19% 1,919,949,657 31.71%JPMorgan India Fixed Maturity Plan Series 13 2,764,288,405 69.93% 2,546,300,000 64.42%JPMorgan India Fixed Maturity Plan Series 15 2,285,423,922 105.33% 2,295,961,909 105.82%JPMorgan India Fixed Maturity Plan Series 16 4,006,457,038 103.89% 3,939,970,386 102.17%JPMorgan India Fixed Maturity Plan Series 18 2,119,588,802 138.63% 2,178,966,597 142.51%

14 Income and Expenses The total income (including net profit / net of net loss on sale of investments and net change in unrealised depreciation in the value of investments) and expense during the year / period ended are

as follows:

Name of the Scheme March 31, 2015Total Income Total Expense


Assets


Assets JPMorgan India Fixed Maturity Plan Series 12 109,817,653 8.83% ^ 1,139,496 0.09% ^JPMorgan India Fixed Maturity Plan Series 13 73,596,830 8.95% ^ 615,176 0.07% ^JPMorgan India Fixed Maturity Plan Series 15 4,680,950 8.34% ^ 59,956 0.11% ^JPMorgan India Fixed Maturity Plan Series 16 20,301,488 8.72% ^ 81,751 0.04% ^JPMorgan India Fixed Maturity Plan Series 18 839,960 9.58% ^ 3,847 0.04% ^

^Annualised



Assets


Assets JPMorgan India Fixed Maturity Plan Series 12 519,249,972 8.58% 5,913,489 0.10%JPMorgan India Fixed Maturity Plan Series 13 340,191,311 8.61% 3,334,592 0.08%JPMorgan India Fixed Maturity Plan Series 15 196,402,005 9.05% 2,160,588 0.10%JPMorgan India Fixed Maturity Plan Series 16 342,386,023 8.88% 3,334,177 0.09%JPMorgan India Fixed Maturity Plan Series 18 132,216,065 8.65% 1,349,311 0.09%

15 Disclosure Under Regulation 25(8) of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 as amended (SEBI Regulations) and in accordance with Accounting Standard 18 on ‘Related Party Disclosures’ issued by the Institute of Chartered Accountants of India (ICAI)

The Schemes have entered into transactions with certain related parties. The information required in this regard in accordance with Accounting Standard 18 on ‘Related Party Disclosures’ issued by the Institute of Chartered Accountants of India and Regulation 25(8) of SEBI Regulations, is provided below:





(i) Related party relationships during the year / period

Name Description of RelationshipJPMorgan Asset Management (Asia) Inc. Sponsor of the Fund*JPMorgan Mutual Fund India Private Limited Trustee to the Schemes of JPMorgan Mutual FundJPMorgan Asset Management India Private Limited Investment Manager to the Schemes of JPMorgan Mutual FundBennett Coleman & Co Ltd Associate of the Investment ManagerDr. Reddy’s Laboratories LimitedGeojit BNP Paribas Financial Services LtdGHCL LimitedGTL Infrastructure LimitedJPMorgan Chase BankJPMorgan India Private LimitedJPMorgan Services India Private LimitedLIC Housing Finance LimitedMahindra & Mahindra Financial Services LimitedNational Stock Exchange of India LimitedTourism Finance Corpporation of IndiaOberoi Realty LtdOberoi Constructions Limited

* There were no transactions with the Sponsor of the Fund during the year / period

(ii) Schemes of the Fund under the Common Control of the Sponsor of the Fund during the year / period. JPMorgan India Equity Fund JPMorgan India Treasury Fund JPMorgan India Liquid Fund JPMorgan India Tax Advantage Fund JPMorgan India Active Bond Fund JPMorgan India Short Term Income Fund JPMorgan India Mid and Small Cap Fund (Formerly JPMorgan India Smaller Companies Fund) JPMorgan Greater China Equity Off-Shore Fund JPMorgan Emerging Europe, Middle East and Africa Equity Off-shore Fund (Upto December 30, 2014) JPMorgan ASEAN Equity Off-shore Fund JPMorgan India Fixed Maturity Plan Series 12 (upto June 10, 2014) JPMorgan India Fixed Maturity Plan Series 13 (upto June 11, 2014) JPMorgan India Fixed Maturity Plan Series 14 JPMorgan India Fixed Maturity Plan Series 15 (upto April 09, 2014) JPMorgan India Fixed Maturity Plan Series 16 (upto April 21, 2014) JPMorgan India Fixed Maturity Plan Series 18 (upto April 02, 2014) JPMorgan India Income Fund – Series 301 JPMorgan India Income Fund – Series 501 JPMorgan India Fixed Maturity Plan – Series 302 JPMorgan India Fixed Maturity Plan – Series 502 JPMorgan India Hybrid Fund Series 1 JPMorgan India Hybrid Fund Series 2 JPMorgan India Fixed Maturity Plan Series 20 (with effect from April 22, 2013) JPMorgan India Fixed Maturity Plan Series 21 (with effect from June 13, 2013 to June 17, 2014) JPMorgan India Fixed Maturity Plan Series 22 (with effect from July 30, 2013) JPMorgan India Fixed Maturity Plan Series 23 (with effect from August 16, 2013) JPMorgan India Fixed Maturity Plan Series 28 (with effect September 12, 2013 to October 01 ,2014) JPMorgan India Fixed Maturity Plan Series 30 (with effect from February 06, 2014) JPMorgan India Fixed Maturity Plan Series 31 (with effect February 11, 2014 to February 18, 2015) JPMorgan India Fixed Maturity Plan Series 32 (with effect February 24, 2014 to February 26, 2015) JPMorgan India Fixed Maturity Plan Series 33 (with effect from March 03, 2014) JPMorgan India Fixed Maturity Plan Series 35 (with effect from March 13, 2014) JPMorgan India Fixed Maturity Plan Series 37 (with effect from April 17, 2014) JPMorgan India Fixed Maturity Plan Series 38 (with effect from April 17, 2014) JPMorgan India Fixed Maturity Plan Series 40 (with effect from August 19, 2014) JPMorgan Emerging Market Opportunities Equity Off-shore Fund (with effect from June 16, 2014) JPMorgan Corporate Debt Opportunities Fund (with effect from September 08, 2014) JPMorgan India Top 100 Fund (with effect from June 02, 2014) JPMorgan India Equity Income Fund (with effect from September 22, 2014) JPMorgan India Economic Resurgence Fund (with effect from January 13, 2015) JPMorgan Europe Dynamic Equity Offshore Fund (with effect from January 17, 2014) JPMorgan US Value Equity Offshore Fund (with effect from July 17, 2013) JPMorgan India Banking and PSU Debt Fund (with effect from August 26, 2013) JPMorgan India Government Securities Fund (with effect from February 05, 2014) JPMorgan India Annual Interval Fund (with effect from August 5, 2013 to August 25, 2014)





(iii) Key Management Personnel and their Relatives during the year / period Nandkumar Surti, Managing Director and CEO of the Investment Manager Simon Walls*, Chairman of the Trustee (with effect from February 27, 2015) Roger Hepper*, Director of the Trustee (upto February 26, 2015) Kalpana Morparia, Director of the Investment Manager Analyn Oledan Hortilano*, Relative of Key Management Personnel (upto February 26, 2015) Jaisingh Morparia*, Relative of Key Management Personnel Yumiko Kuriyama*, Relative of Key Management Personnel (with effect from February 27, 2015) Manjusha N. Surti*, Relative of Key Management Personnel Mihir N. Surti*, Relative of Key Management Personnel * There were no transactions during the year / period

iv) The transactions with the related parties during the year / period in the ordinary course of business have been listed in Annexure Iv) Pursuant to SEBI Circular No SEBI/IMD/CIR No 18/198647/2010 dated March 15, 2010, there are no transactions with associate entity of the Sponsor and Investment Manager.

16 Disclosure Under Regulation 25(11) of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, As Amended JPMorgan Mutual Fund has made investments in companies which hold / have held units in excess of 5% of the net asset value of any scheme of JPMorgan Mutual Fund which have been listed in

Annexure II. The investments comprise equity shares, debentures/bonds, commercial paper, fixed deposits and other debt instruments and were made solely on the basis of sound fundamentals of these companies.

17 Maturity of Schemes The following schemes matured on the respective dates and hence the revenue account has been prepared till the date of maturity of the respective schemes. Units were redeemed on the basis of

the net asset value as on the date of the maturity as follows :

Name of the Schemes Matured on Direct RegularGrowth Option Dividend Option Growth Option Dividend Option

JPMorgan India Fixed Maturity Plan Series 12 June 10, 2014 11.2991 11.2991 11.2912 11.2912JPMorgan India Fixed Maturity Plan Series 13 June 11, 2014 11.2575 11.2575 11.2502 11.2502JPMorgan India Fixed Maturity Plan Series 15 April 9, 2014 11.0589 - 11.0527 - JPMorgan India Fixed Maturity Plan Series 16 April 21, 2014 11.0209 10 11.0156 - JPMorgan India Fixed Maturity Plan Series 18 April 2, 2014 10.9257 - 10.9202 -

18 Previous Year’s / Period’s Figures Previous year / period figures have been shown in italics below the current year figures and have been regrouped / rearranged wherever appropriate. Signatures to schedule 1 to 7 forming part of the Balance sheet, Cashflow and Revenue Account
















JPMORGAN INDIA FIXED MATURITY PLAN SERIES 21, JPMORGAN INDIA FIXED MATURITY PLAN SERIES 28, JPMORGAN INDIA ANNUAL INTERVAL FUND, JPMORGAN INDIA FIXED MATURITY PLAN SERIES 31 AND JPMORGAN INDIA FIXED MATURITY PLAN SERIES 32

SCHEDULE 1 INVESTMENTS (Notes 2.2, 2.3, 11, 13 and 19) (Refer to attached Statement of Portfolio Holdings as at March 31, 2015)



JPMorgan India Annual Interval Fund

March 31, 2015March 31, 2014

March 31, 2015March 31, 2014

March 31, 2015March 31, 2014


Cost Rupees


Cost Rupees


Cost Rupees

Commercial Paper / Certificate of Deposit - - - - - - 3,211,549,820 3,215,048,253 217,580,764 217,337,539 724,690,950 722,232,081

TOTAL - - - - - - 3,211,549,820 3,215,048,253 217,580,764 217,337,539 724,690,950 722,232,081



March 31, 2015March 31, 2014

March 31, 2015March 31, 2014


Cost Rupees


Cost Rupees

Commercial Paper / Certificate of Deposit - - - - 2,278,181,903 2,268,318,500 1,293,748,101 1,287,990,890

TOTAL - - - - 2,278,181,903 2,268,318,500 1,293,748,101 1,287,990,890

SCHEDULE - 2OTHER CURRENT ASSETS




Fund



April 01, 2014to

June 17, 2014

April 01, 2014to

October 01, 2014

April 01, 2014to

August 21, 2014

April 01, 2014to

February 18, 2015

April 01, 2014to


toMarch 31, 2014

Rupees



August 05, 2013to


February 11, 2014to


February 24, 2014to


Balance with Banks- in Current Account 148,193 76,472 117,777 904,107 512,696

168,864 288,078 223,207 227,963 253,422

Collateralised Borrowing and Lending Obligation - - - - - 1,697,484 499,260 798,816 1,797,336 13,180,460

Interest Receivable on -Collateralised Borrowing and Lending Obligation - - - - -

2,013 592 947 2,132 15,632

Receivable from Investment Manager - 96 - 6,561 - 100,585 45,573 - 51,814 93,796

Investment towards unclaimed redemption - - 6,004 - - JPMorgan India Annual Interval Fund: [in 6,005 (2014: NIL) units of JPMorgan India Liquid Fund - Direct - Growth Plan {Market Value Rs. 6,145.89 (2014: NIL)}(Note 16)] - - - - - Investment towards unclaimed dividend - - 488 - - JPMorgan India Annual Interval Fund: [in 27.504 (2014: NIL) units of JPMorgan India Liquid Fund - Direct - Growth Plan {Mar-ket Value Rs. 499.96 (2014: NIL)}(Note 15)] - - - - - TOTAL 148,193 76,568 124,269 910,668 512,696

1,968,946 833,503 1,022,970 2,079,245 13,543,310




SCHEDULE 3UNIT CAPITAL (Note 9)



Issued and Subscribed:Units of Rs. 10 each fully paid up 96,394,996.000 963,949,960 23,500.000 235,000 160,206,700.000 1,602,067,000

Outstanding:At the beginning of the period 96,394,996.000 963,949,960 23,500.000 235,000 160,206,700.000 1,602,067,000

96,394,996.000 963,949,960 23,500.000 235,000 160,206,700.000 1,602,067,000

Redeemed during the period 96,394,996.000 963,949,960 23,500.000 235,000 160,206,700.000 1,602,067,000 At the end of the period - - - - - -

96,394,996.000 963,949,960 23,500.000 235,000 160,206,700.000 1,602,067,000




Outstanding:At the beginning of the period 45,000,000.000 450,000,000

45,000,000.000 450,000,000

Redeemed during the period 45,000,000.000 450,000,000 At the end of the period - - - -

45,000,000.000 450,000,000 301,625,196.000 3,016,251,960



Issued and Subscribed:Units of Rs. 10 each fully paid up 13,196,943.768 131,969,438 334,500.000 3,345,000 7,255,800.000 72,558,000

Outstanding:At the beginning of the period 13,196,943.768 131,969,438 334,500.000 3,345,000 7,255,800.000 72,558,000

13,196,943.768 131,969,438 334,500.000 3,345,000 7,255,800.000 72,558,000

Redeemed during the period 13,196,943.768 131,969,438 334,500.000 3,345,000 7,255,800.000 72,558,000 At the end of the period - - - - - -

13,196,943.768 131,969,438 334,500.000 3,345,000 7,255,800.000 72,558,000



Issued and Subscribed:Units of Rs. 10 each fully paid up 1,000.000 10,000

Outstanding:At the beginning of the period 1,000.000 10,000

1,000.000 10,000

Redeemed during the period 1,000.000 10,000 At the end of the period - - - -

1,000.000 10,000 20,788,243.768 207,882,438




SCHEDULE - 3UNIT CAPITAL (Note 9) (contd....)

JPMorgan India Annual Interval FundMarch 31, 2015March 31, 2014

Regular Plan - Growth Option Regular Plan - Dividend OptionUnits Rupees Units Rupees

Issued and Subscribed:Units of Rs. 10 each fully paid up 25,198,000.000 251,980,000 5,400.000 54,000

Outstanding:At the beginning of the period 25,198,000.000 251,980,000 5,400.000 54,000

25,198,000.000 251,980,000 5,400.000 54,000

Redeemed during the period 25,198,000.000 251,980,000 5,400.000 54,000 At the end of the period - - - -

25,198,000.000 251,980,000 5,400.000 54,000

JPMorgan India Annual Interval FundMarch 31, 2015March 31, 2014

Direct Plan - Growth Option Total Units Rupees Units Rupees



42,686,818.617 426,868,186


42,686,818.617 426,868,186 67,890,218.617 678,902,186


Regular Plan - Growth Option Regular Plan - Dividend OptionUnits Rupees Units Rupees

Issued and Subscribed:Units of Rs. 10 each fully paid up 13,520,000.000 135,200,000 8,499.900 84,999

Outstanding:At the beginning of the period 13,520,000.000 135,200,000 8,499.900 84,999

13,520,000.000 135,200,000 8,499.900 84,999

Redeemed during the period 13,520,000.000 135,200,000 8,499.900 84,999 At the end of the period - - - -

13,520,000.000 135,200,000 8,499.900 84,999


Direct Plan - Growth Option Total Units Rupees Units Rupees

Issued and Subscribed:Units of Rs. 10 each fully paid up 210,777,800.000 2,107,778,000

Outstanding:At the beginning of the period 210,777,800.000 2,107,778,000

210,777,800.000 2,107,778,000

Redeemed during the period 210,777,800.000 2,107,778,000 At the end of the period - - - -

210,777,800.000 2,107,778,000 224,306,299.900 2,243,062,999




SCHEDULE - 3UNIT CAPITAL (Note 9) (contd....)


Regular Plan - Growth Option Direct Plan - Growth OptionUnits Rupees Units Rupees

Issued and Subscribed:Units of Rs. 10 each fully paid up 3,412,484.329 34,124,843 120,539,025.035 1,205,390,250

Outstanding:At the beginning of the period 3,412,484.329 34,124,843 120,539,025.035 1,205,390,250

3,412,484.329 34,124,843 120,539,025.035 1,205,390,250

Redeemed during the period 3,412,484.329 34,124,843 120,539,025.035 1,205,390,250 At the end of the period - - - -

3,412,484.329 34,124,843 120,539,025.035 1,205,390,250





5,000,000.000 50,000,000


5,000,000.000 50,000,000 128,951,509.364 1,289,515,093

SCHEDULE - 4RESERVES AND SURPLUS




Fund



March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

Unit Premium Reserve (Note 2.6)At the beginning of the period - - - - -Added during the period (256,584,658) (19,319,503) (71,833,167) (219,896,332) (125,029,388)At the end of the period (256,584,658) (19,319,503) (71,833,167) (219,896,332) (125,029,388)

Unrealised Appreciation ReserveAt the beginning of the period - 243,225 2,458,869 9,863,403 5,757,211 Net Change in Unrealised Appreciation in Value of Investments transferred from Revenue Account (Note 2.2 and 10)

- (243,225) (2,458,869) (9,863,403) (5,757,211)- 243,225 2,458,869 9,863,403 5,757,211

At the end of the period - - - - -- 243,225 2,458,869 9,863,403 5,757,211

Reserve FundAt the beginning of the period 196,437,292 9,845,349 44,032,878 27,085,883 11,863,480

- - - - -

Balance transferred to Revenue Account (196,437,292) (9,845,349) (44,032,878) (27,085,883) (11,863,480)- - - - -

Balance transferred from Revenue Account 256,584,658 19,319,503 71,833,167 219,896,332 125,029,388 196,437,292 9,845,349 44,032,878 27,085,883 11,863,480

At the end of the period 256,584,658 19,319,503 71,833,167 219,896,332 125,029,388 196,437,292 9,845,349 44,032,878 27,085,883 11,863,480

TOTAL - - - - -196,437,292 10,088,574 46,491,747 36,949,286 17,620,691




SCHEDULE - 5CURRENT LIABILITIES AND PROVISIONS




Fund



March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

March 31, 2015March 31, 2014

Rupees

Investment Management and Advisory Fees 8,577 27,605 36,312 437,244 182,402 117,248 5,024 30,095 66,577 28,461

Transfer Agent Fees and Expenses - - - - - 18,390 1,248 4,154 13,042 7,478

Trusteeship Fees and Expenses - - - - - 12,358 838 4,187 8,764 5,025

Custodian Fees and Expenses - - - 23 28 19,357 1,311 4,423 3,066 651

Audit Fees 15,501 15,501 15,501 15,501 53,634 46,535 46,535 46,535 46,535 51,704

Amount held towards Investor Education Fund 110,860 19,193 48,453 387,931 230,289 447,662 20,996 81,869 53,263 22,769

Selling and Distribution Expense - - - 1,019 - 124,915 336,880 114,683 11,643 4,669

Professional Fees 1,300 2,600 3,900 3,900 9,100 5,048 10,168 10,168 16,378 11,260

Printing expense Payable - - - - - - - - 11,954 11,945

Unclaimed Redemption (Note 16) - - 6,004 - - - - - - -

Sundry Payables 11,955 11,669 14,099 65,050 37,243 38,001 20,255 23,873 17,641 11,664

TOTAL 148,193 76,568 124,269 910,668 512,696 829,514 443,255 319,987 248,863 155,626

SCHEDULE - 6INTEREST AND DISCOUNT (Note 2.4)




Fund



April 01, 2014to

June 17, 2014

April 01, 2014to

October 01, 2014

April 01, 2014to

August 21, 2014

April 01, 2014to

February 18, 2015

April 01, 2014to


toMarch 31, 2014

Rupees



August 05, 2013to


February 11, 2014to


February 24, 2014to


Debentures / Bonds - - - - - - 212,449 2,158,426 - -

Commercial Paper / Certificate of Deposit 56,451,747 8,358,061 27,204,959 193,181,501 112,934,761 207,426,323 9,702,695 41,715,790 25,157,122 11,449,840

Reverse Repos - - - - 6,755 2,197,551 61,011 994 - -

Collateralised Borrowing and Lending Obligation 779,538 1,623,573 1,071,306 1,611,706 1,363,124 720,632 280,724 539,351 2,188,251 518,595

TOTAL 57,231,285 9,981,634 28,276,265 194,793,207 114,304,640 210,344,506 10,256,879 44,414,561 27,345,373 11,968,435




SCHEDULE - 7 NOTES TO FINANCIAL STATEMENTS

1. Organisation JPMorgan Mutual Fund (“JPMMF” or “the Fund”) has been established as a Trust in accordance with the Indian Trusts Act, 1882, and is sponsored by JPMorgan Asset Management (Asia) Inc.

(“Sponsor”). JPMorgan Mutual Fund India Private Limited (“JPMMFIPL”) or the “Trustee”, a company incorporated under the Companies Act, 1956, is the Trustee to JPMMF by the Trust Deed entered into between the Sponsor and JPMMFIPL.

JPMorgan Asset Management India Private Limited (“JPMAMIPL”), a company incorporated under the Companies Act, 1956, has been appointed as the asset management company (“Investment Manager”).

The key features of the Schemes presented in these financial statements are as mentioned below:-

Name of the Scheme

Type of Scheme

Launched On

Allotment Date

Tenure of Close Ended Schemes

Date of Maturity

Investment Objective Plans / Options offered



13 June, 2013

14 June, 2013

369 days June 17, 2014

To generate income through investments in Debt Securities /money market instruments and Government of India Securities (“GoI Securities”) maturing on or before the maturity date of the Scheme.




12 September,

2013

30 September,

2013

367 days October 01,

2014



JPMorgan India Annual Interval Fund

A debt oriented interval scheme

05 August, 2013

20 August, 2013

371 days August 25,

2014





11 February,

2014

14 February,

2014

370 days February 18,

2015

To generate income through investments in Debt Securities /money market instruments and Government of India Securities (“GoI Securities”) maturing on or before the maturity date of the Scheme.




24 February,

2014

26 February,

2014

366 days February 26,

2015



The Scheme will not declare dividend under the Growth Option in normal circumstances. The income earned on such units will remain invested within the Scheme and will be reflected in the net asset value.

In respect of the Scheme matured during the year, investments have been liquidated on the maturity date and the unit capital has been liquidated on the business date immediately following the date of maturity. Accordingly, the Balance Sheet as at March 31, 2015 in respect of Schemes matured does not have investments and outstanding unit capital balance and has been prepared after payment of unit proceeds and other liabilities and liquidation of assets.

2 SignificantAccountingPolicies 2.1 Basis of Accounting The Schemes maintain their books of account on an accrual basis. These financial statements have been prepared in accordance with the Accounting Policies and Standards specified in the

Ninth Schedule of The Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, and amendments thereto (the “Regulation”), as applicable. Presentation of these separate Balance Sheets, Revenue Accounts and Cash Flow Statements, where applicable, in a columnar form is not intended to indicate that they bear any relation to

each other, or are interdependent or comparable in any way.

2.2 Portfolio Valuation Investments are stated at market / fair value at the Balance Sheet date / date of determination. In valuing the Scheme’s investments: (i) Instruments bought on ‘repo’ basis are valued at the resale price after deduction of applicable interest up to the date of resale. (ii) Collateralised Borrowing and Lending Obligations (CBLO) are valued at cost plus accrued interest. (iii) Money Market Securities and Debt Securities are valued as under:

A. For money market securities and debt securities (Upto November 28, 2013) a) All traded money market securities and debt securities are valued at the weighted average traded YTM or weighted average price at which they are traded / reported on public

platform on the particular valuation day as per procedures determined by JPMorgan Asset Management India Private Limited and approved by the Trustee in accordance with the guidelines for valuation of securities for mutual funds, issued by SEBI from time to time.

b) Non-traded /thinly traded money market and debt securities , with residual maturity of up to 60 days are valued on amortization basis. Amortized price as per Crisil Bond Valuer (CBV) will be compared with the reference price (as per CBV) to ascertain if the difference is within the band of +/- 10 basis points of the reference price. In case of amortized price falling outside the band, the YTM of the amortised price will be adjusted in order to bring the price within the band.

c) Non-traded /thinly traded money market securities and debt securities with residual maturity of over 60 days are valued at fair value as per procedures determined by JPMorgan Asset Management India Private Limited and approved by the Trustee in accordance with the guidelines for valuation of securities for mutual funds, issued by SEBI from time to time. Thus they are valued at benchmark yield/matrix of spread over risk free benchmark yield obtained from agencies entrusted for the said purpose by AMFI. This may be further adjusted for the illiquidity mark-up / mark-down as permitted under the regulations.

B. For money market securities and debt securities (with effect from November 29, 2013) a) Money market and debt securities with residual maturity of up to 60 days are valued using weighted average price (qualifying own trades) and amortized on straight line basis. If there are no own qualifying trades on the date of valuation, straight line amortisation from last valuation based on average of scrip level prices/ last qualifying traded price

whichever is more recent is used. However, amortised price based on valuation will be compared with the reference price (calculated by Crisil Bond Valuer (CBV) using yields provided by ICRA and CRISIL) to ascertain if the difference is within the band of +/- 10 basis points of the reference price. In case of amortised price falling outside the band, such amortised price will be adjusted in order to bring the same within the band.





However, the Investment and Valuation Committee of JPMorgan Asset Management India Private Limited can, on a prospective basis, deviate from this approach and adopt alternate procedures/methods to arrive at the fair value based on market conditions.

b) Money market securities and debt securities with residual maturity of over 60 days are valued at the simple average of the scrip level prices provided by the agencies proposed by AMFI (currently CRISIL & ICRA) on a daily basis.

However, the Investment and Valuation Committee of JPMorgan Asset Management India Private Limited can, on a prospective basis, deviate from this approach and adopt alternate procedures/methods to arrive at the fair value based on market conditions.

Where scrip level prices are not available, the price of the instruments shall be arrived at in good faith by the Investment and Valuation Committee of JPMorgan Asset Management India Private Limited as per procedures approved by the Trustee.

Net unrealised appreciation / depreciation in the value of investments and derivatives is determined separately for each category of investments and derivatives. In respect of each category of investments and derivatives, net change in unrealised appreciation if any, between two Balance Sheet dates / valuation dates is accounted through the Revenue Account and thereafter the net change in unrealised appreciation is transferred from the Revenue Account to the Unrealised Appreciation Reserve. Net change in unrealised depreciation if any, is accounted through the Revenue Account.

Net Unrealised appreciation is reduced from the distributable income at the time of income distribution.

2.3 Securities Transactions (i) Transactions for purchase and sale of investments are recognised as of the trade date. In determining the holding, cost of investments and the gain or loss on sale of investments the

’average cost’ method is followed. The cost of investments includes brokerage, stamp charges and any other charge customarily included in the contract note but excludes custodian safekeeping fees. Brokerage and Transaction cost incurred for the purpose of execution of trade is capitalized to the extent of 12 bps for cash market transactions. Costs over and above this are charged to the scheme within the maximum limit of Total Expense Ratio, in line with the Regulations.

(ii) Bonus entitlements are recognised as investments on ex-bonus date. (iii) Rights entitlements are recognised as investments on ex-rights date.

2.4 Investment Income Interest income is recorded on an accrual basis.

2.5 Net Asset Value for Growth / Dividend Option The net asset value of the units of the Schemes is determined separately for the units issued under various Plans / Options. For reporting the net asset value for the Plans / Options, daily income earned, including realised and unrealised gain or loss in the value of investments and expenses incurred by the Schemes

are allocated to the Plans / Options in proportion to the value of the net assets.

2.6 Unit Premium Reserve Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of the respective Plans / Options of the Schemes.

3 Income Taxes No provision for taxation has been made as the Schemes qualify as a recognised mutual fund under Section 10 (23D) of the Income Tax Act, 1961 of India. For taxes deducted at source from the

investment income, which are recoverable, a receivable is recorded in the books of account.

4 Investment Management and Advisory Fees The Schemes have paid or provided for investment management and advisory fees payable to JPMorgan Asset Management India Private Limited for managing the Schemes at an average annual

rate of the average daily net asset values recorded by the Schemes as provided below.

Name of the Scheme Average Daily Net Assets for the year ended (Rupees)

Investment Management Fees charged during the year (excluding service tax)

Percentage of Management Fees charged

2015 2014 2015 2014 2015 2014JPMorgan India Fixed Maturity Plan Series 21 3,243,059,438 3,092,341,766 112,530 615,698 0.02% ^ 0.03% ^JPMorgan India Fixed Maturity Plan Series 28 222,491,296 213,128,670 33,213 31,032 0.03% ^ 0.03% ^JPMorgan India Annual Interval Fund 726,392,830 702,738,821 50,940 117,878 0.02% ^ 0.03% ^JPMorgan India Fixed Maturity Plan Series 31 2,371,205,142 2,260,574,486 881,258 66,579 0.04% ^ 0.03% ^JPMorgan India Fixed Maturity Plan Series 32 1,360,888,681 1,298,550,022 436,987 28,461 0.04% ^ 0.02% ^

^ AnnualisedAll costs, charges and expenses incurred by JPMorgan Asset Management India Private Limited in the administration and execution of the activities of the Schemes, except costs allowed to be charged to the Schemes under the Regulations are on their own account for which they receive investment management and advisory fees.

5 Trustee Fees In accordance with the Trust Deed dated December 4, 2006, as amended from time to time, between JPMorgan Asset Management (Asia) Inc. (the “Settlor”) and JPMorgan Mutual Fund India Private

Limited (the Trustee), the Schemes have paid or provided for trustee fees payable to the Trustee at an annual average rate of the average daily net asset values recorded by the Schemes as provided below or Rs. One Crore per annum (net of taxes) in aggregate for all the schemes of the fund, whichever is lower.

Name of the Scheme Percentage of Trustee Fees charged2015 2014

JPMorgan India Fixed Maturity Plan Series 21 0.005% ^ 0.005% ^JPMorgan India Fixed Maturity Plan Series 28 0.005% ^ 0.005% ^JPMorgan India Annual Interval Fund 0.008% ^ 0.008% ^JPMorgan India Fixed Maturity Plan Series 31 0.004% ^ 0.005% ^JPMorgan India Fixed Maturity Plan Series 32 0.004% ^ 0.005% ^

^ Annualised





6 Custodian Fees Standard Chartered Bank (SCB) provides custodial services to the schemes, for which it receives custody fees . All investments, except Government Securities, Treasury Bills, Reverse Repos,

Collateralised Borrowing and Lending Obligations, Fixed Deposits and units in overseas funds are held in safe custody of the custodian.

7 Limitation on Expenses The total expenses chargeable to the schemes are limited to the below mentioned percentage of the average daily net assets recorded by the schemes. JPMorgan Asset Management India Private

Limited has borne the below mentioned amount, in excess of the percentages of the average daily net assets allowable to be charged to the schemes as total expenses for the period.

Name of the Scheme Expense Limit Amount borne by JPMorgan Asset Management India Private Limited

(Rupees)2015 2014 2015 2014

JPMorgan India Fixed Maturity Plan Series 21 NA 0.08% ^ - 100,585JPMorgan India Fixed Maturity Plan Series 28 0.45% ^ 0.49% ^ 96 45,573JPMorgan India Fixed Maturity Plan Series 31 0.09% ^ 0.10% ^ 6561 51,814JPMorgan India Fixed Maturity Plan Series 32 NA 0.09% ^ - 93,796

^ Annualised

8 Initial Contribution The initial contribution of Rs. 100,000 made by the sponsor, JPMorgan Asset Management (Asia) Inc. is recorded in the books of account of JPMorgan Mutual Fund.

9 Movement in Unit Capital The movement in Unit Capital during the period is detailed in Schedule 3.

10 Initial Issue Expenses Initial issue expenses comprise of costs directly associated with the issue of units in the Schemes and have been borne by JPMAMIPL.

11 Aggregate Appreciation and Depreciation In Value Of Investments Aggregate appreciation and depreciation in value of investments for the following schemes are as follows:

Asset Type JPMorgan India Fixed Maturity Plan Series 21



Fund



March 31, 2015March 31, 2014

CommercialPaper/CertificateofDeposit- Appreciation - - -

710,136 243,225 2,458,869 9,863,403 5,757,211 - Depreciation - - - - -

4,208,569 - - - -

12 Segment Reporting The Schemes are primarily engaged in the business of investing, amounts received from investors as unit capital, in accordance with their investment objectives to generate returns. Since there is

only one business segment and no geographical segments, the segmental reporting disclosures as required by Accounting Standard (AS)-17, issued by the Institute of Chartered Accountants of India have not been made.

13 Aggregate Value of Purchases and Sales of Investments The aggregate value of investment securities (excluding CBLO and Reverse Repo) purchased (including amortisation and excluding derivatives) and sold (including matured) during the period

(excluding accretion of discount) and their percentage of the respective average daily net assets are as follows:



Assets


AssetsJPMorgan India Fixed Maturity Plan Series 21 - 0.00% 3,271,500,000 100.88%JPMorgan India Fixed Maturity Plan Series 28 395,804,400 177.90% 621,500,000 279.34%JPMorgan India Annual Interval Fund 138,062,960 19.01% 887,500,000 122.18%JPMorgan India Fixed Maturity Plan Series 31 - 0.00% 2,461,500,000 103.81%JPMorgan India Fixed Maturity Plan Series 32 109,074,350 8.01% 1,510,000,000 110.96%





Name of the Scheme March 31, 2014Aggregate Purchases

Aggregate Sales


Assets


AssetsJPMorgan India Fixed Maturity Plan Series 21 3,571,516,882 115.50% 555,538,200 17.96%JPMorgan India Fixed Maturity Plan Series 28 247,378,924 116.07% 39,846,481 18.70%JPMorgan India Annual Interval Fund 1,495,488,650 212.81% 815,279,034 116.01%JPMorgan India Fixed Maturity Plan Series 31 2,243,161,378 99.23% - -JPMorgan India Fixed Maturity Plan Series 32 1,276,541,051 98.31% - -

14 Income and Expenses The total income (including net profit / net of net loss on sale of investments and net change in unrealised depreciation in the value of investments) and expense during the period ended are as follows:



Assets


Assets JPMorgan India Fixed Maturity Plan Series 21 60,729,718 8.76% ^ 582,352 0.08% ^JPMorgan India Fixed Maturity Plan Series 28 9,981,634 8.90% ^ 507,480 0.45% ^JPMorgan India Annual Interval Fund 28,276,265 9.67% ^ 470,345 0.16% ^JPMorgan India Fixed Maturity Plan Series 31 194,793,207 9.25% ^ 1,974,522 0.09% ^JPMorgan India Fixed Maturity Plan Series 32 114,304,640 9.23% ^ 1,138,732 0.09% ^



Assets


AssetsJPMorgan India Fixed Maturity Plan Series 21 198,489,321 8.13% ^ 2,052,029 0.08% ^JPMorgan India Fixed Maturity Plan Series 28 10,359,279 9.86% ^ 513,930 0.49% ^JPMorgan India Annual Interval Fund 44,730,716 10.47% ^ 697,838 0.16% ^JPMorgan India Fixed Maturity Plan Series 31 27,345,373 10.27% ^ 259,490 0.10% ^JPMorgan India Fixed Maturity Plan Series 32 11,968,435 10.51% ^ 104,955 0.09% ^

^ Annualised

15 Unclaimed Dividend The amounts of unclaimed dividend and the number of investors to whom the amounts are payable are as follows: -

Name of the Scheme 2015 2014No. of Investors Amount No. of Investors Amount

JPMorgan India Annual Interval Fund 1 488 - -

16 Unclaimed Redemption The amounts of unclaimed redemption and the number of investors to whom the amounts are payable are as follows: -

Name of the Scheme 2015 2014No. of Investors Amount No. of Investors Amount

JPMorgan India Annual Interval Fund 1 6,004 - -

17 Miscellaneous Income The details for the same is as follows:

Name of the Schemes Description of the income

Amount2015 2014

JPMorgan India Annual Interval Fund Compensation for trade error

- 9,479





18 Disclosure Under Regulation 25(8) of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 as amended (SEBI Regulations) and in accordance with Accounting Standard 18 on ‘Related Party Disclosures’ issued by the Institute of Chartered Accountants of India (ICAI)

The Schemes have entered into transactions with certain related parties. The information required in this regard in accordance with Accounting Standard 18 on ‘Related Party Disclosures’ issued by the Institute of Chartered Accountants of India and Regulation 25(8) of SEBI Regulations, is provided below:

(i) Related party relationships during the period / year

Name Description of RelationshipJPMorgan Asset Management (Asia) Inc. Sponsor of the Fund*JPMorgan Mutual Fund India Private Limited Trustee to the Schemes of JPMorgan Mutual FundJPMorgan Asset Management India Private Limited Investment Manager to the Schemes of JPMorgan Mutual FundBennett Coleman & Co Ltd Associate of the Investment ManagerDr. Reddy’s Laboratories LimitedGeojit BNP Paribas Financial Services LtdGHCL LimitedGTL Infrastructure LimitedJPMorgan Chase BankJPMorgan India Private LimitedJPMorgan Services India Private LimitedLIC Housing Finance LimitedMahindra & Mahindra Financial Services LimitedNational Stock Exchange of India LimitedTourism Finance Corpporation of IndiaOberoi Realty LtdOberoi Constructions Limited

* There were no transactions with the Sponsor of the Fund during the year / period

(ii) Schemes of the Fund under the Common Control of the Sponsor of the Fund during the year / period. JPMorgan India Equity Fund JPMorgan India Treasury Fund JPMorgan India Liquid Fund JPMorgan India Tax Advantage Fund JPMorgan India Active Bond Fund JPMorgan India Short Term Income Fund JPMorgan India Mid and Small Cap Fund (Formerly JPMorgan India Smaller Companies Fund) JPMorgan Greater China Equity Off-Shore Fund JPMorgan Emerging Europe, Middle East and Africa Equity Off-shore Fund (Upto December 30, 2014) JPMorgan ASEAN Equity Off-shore Fund JPMorgan India Fixed Maturity Plan Series 12 (upto June 10, 2014) JPMorgan India Fixed Maturity Plan Series 13 (upto June 11, 2014) JPMorgan India Fixed Maturity Plan Series 14 JPMorgan India Fixed Maturity Plan Series 15 (upto April 09, 2014) JPMorgan India Fixed Maturity Plan Series 16 (upto April 21, 2014) JPMorgan India Fixed Maturity Plan Series 18 (upto April 02, 2014) JPMorgan India Income Fund – Series 301 JPMorgan India Income Fund – Series 501 JPMorgan India Fixed Maturity Plan – Series 302 JPMorgan India Fixed Maturity Plan – Series 502 JPMorgan India Hybrid Fund Series 1 JPMorgan India Hybrid Fund Series 2 JPMorgan India Fixed Maturity Plan Series 20 (with effect from April 22, 2013) JPMorgan India Fixed Maturity Plan Series 21 (with effect from June 13, 2013 to June 17, 2014) JPMorgan India Fixed Maturity Plan Series 22 (with effect from July 30, 2013) JPMorgan India Fixed Maturity Plan Series 23 (with effect from August 16, 2013) JPMorgan India Fixed Maturity Plan Series 28 (with effect September 12, 2013 to October 01 ,2014) JPMorgan India Fixed Maturity Plan Series 30 (with effect from February 06, 2014) JPMorgan India Fixed Maturity Plan Series 31 (with effect February 11, 2014 to February 18, 2015) JPMorgan India Fixed Maturity Plan Series 32 (with effect February 24, 2014 to February 26, 2015) JPMorgan India Fixed Maturity Plan Series 33 (with effect from March 03, 2014) JPMorgan India Fixed Maturity Plan Series 35 (with effect from March 13, 2014) JPMorgan India Fixed Maturity Plan Series 37 (with effect from April 17, 2014) JPMorgan India Fixed Maturity Plan Series 38 (with effect from April 17, 2014) JPMorgan India Fixed Maturity Plan Series 40 (with effect from August 19, 2014) JPMorgan Emerging Market Opportunities Equity Off-shore Fund (with effect from June 16, 2014) JPMorgan Corporate Debt Opportunities Fund (with effect from September 08, 2014) JPMorgan India Top 100 Fund (with effect from June 02, 2014) JPMorgan India Equity Income Fund (with effect from September 22, 2014) JPMorgan India Economic Resurgence Fund (with effect from January 13, 2015) JPMorgan Europe Dynamic Equity Offshore Fund (with effect from January 17, 2014) JPMorgan US Value Equity Offshore Fund (with effect from July 17, 2013) JPMorgan India Banking and PSU Debt Fund (with effect from August 26, 2013) JPMorgan India Government Securities Fund (with effect from February 05, 2014) JPMorgan India Annual Interval Fund (with effect from August 5, 2013 to August 25, 2014)





(iii) Key Management Personnel and their Relatives during the year / period Nandkumar Surti, Managing Director and CEO of the Investment Manager Simon Walls*, Chairman of the Trustee (with effect from February 27, 2015) Roger Hepper*, Director of the Trustee (upto February 26, 2015) Kalpana Morparia, Director of the Investment Manager Analyn Oledan Hortilano*, Relative of Key Management Personnel (upto February 26, 2015) Jaisingh Morparia*, Relative of Key Management Personnel Yumiko Kuriyama*, Relative of Key Management Personnel (with effect from February 27, 2015) Manjusha N. Surti*, Relative of Key Management Personnel Mihir N. Surti*, Relative of Key Management Personnel * There were no transactions during the year / periodiv) The transactions with the related parties during the period in the ordinary course of business have been listed in Annexure Iv) Pursuant to SEBI Circular No SEBI/IMD/CIR No 18/198647/2010 dated March 15, 2010, there are no transactions with associate entity of the Sponsor and Investment Manager.

19 Disclosure Under Regulation 25(11) of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, As Amended JPMorgan Mutual Fund has made investments in companies which hold / have held units in excess of 5% of the net asset value of any scheme of JPMorgan Mutual Fund which have been listed in

Annexure II. The investments comprise equity shares, debentures/bonds, commercial paper, fixed deposits and other debt instruments and were made solely on the basis of sound fundamentals of these companies.

20 Maturity of Schemes The following schemes matured on the respective dates and hence the revenue account has been prepared till the date of maturity of the respective schemes. Units were redeemed on the basis of

the net asset value as on the date of the maturity as follows :

Name of the Schemes Matured on Direct RegularGrowth Option Dividend Option Growth Option Dividend Option

JPMorgan India Fixed Maturity Plan Series 21 June 17, 2014 10.8345 10.8345 10.8292 10.8292JPMorgan India Fixed Maturity Plan Series 28 October 1, 2014 10.9630 10.9630 10.9113 10.9113JPMorgan India Annual Interval Fund August 21, 2014 11.0703 - 11.0508 10.0074JPMorgan India Fixed Maturity Plan Series 31 February 16, 2015 10.9811 - 10.9691 10.0000JPMorgan India Fixed Maturity Plan Series 32 February 26, 2015 10.97 10.9700 10.9543 -

21 Previous Period’s Figures Previous year / period figures have been shown in italics below the current year figures and have been regrouped / rearranged wherever appropriate. Signatures to schedule 1 to 7 forming part of the Balance sheet and Revenue Account















JPMORGAN INDIA FIXED MATURITY PLAN SERIES 12 ANNEXURE - I

RELATED PARTY DISCLOSURES (SCHEDULE 7 - NOTE 15)(Rupees)

Nature of Transaction Trustee Investment Manager Schemes under Common Control of Sponsor of

the Fund

Total

(i) Transactions during the Year / Period Purchase of Investments - - - - Previous Year - - 2,047,574,236 2,047,574,236

Sale of Investments - - - - Previous Year - - 1,949,657 1,949,657

Investment Management and Advisory Fees - 203,806 - 203,806 Previous Year - 2,047,155 - 2,047,155

Service Tax on Investment Manger and Advisory Fees - 25,190 - 25,190 Previous Year - 253,445 - 253,445

Trustee Fees and Expenses 62,207 - - 62,207 Previous Year 302,710 - - 302,710

Reimbursement of Expenses (Net) - - - - Previous Year - 449,311 - 449,311

(ii) Outstanding As At Year / Period End Investment Management and Advisory Fees Payable - 141,598 - 141,598 Previous Year - 182,810 - 182,810

Trustee Fees and Expenses Payable - - - - Previous Year 24,407 - - 24,407

Service Tax on Investment Management Fees Payable - 17,503 - 17,503 Previous Year - 22,598 - 22,598

Receivable from Investment Manager - - - - Previous Year - 449,311 - 449,311

April 01, 2014 to June 10,2014

April 01, 2013 to March 31, 2014

(iii) Details of material transactions with respect to parties referred to in Note 15 (ii) for Schemes under Common Control of the Sponsor of the Fund.

Purchase of Investments JPMorgan India Active Bond Fund - 48,941,826 JPMorgan India Liquid Fund - 1,970,674,480 JPMorgan India Treasury Fund - 27,957,930

Sale of Investments JPMorgan India Short Term Income Fund - 1,949,657






the Fund

Total





Reimbursement of Expenses (Net) - - - - Previous Year - 396,584 - 396,584

(ii) Outstanding As At Year / Period End Investment Management and Advisory Fees Payable - 41,499 - 41,499 Previous Year - 119,195 - 119,195

Service Tax on Investment Management Fees Payable - 5,129 - 5,129 Previous Year - 14,734 - 14,734


Receivable from Investment Manager - - - - Previous Year - 396,584 - 396,584

April 01, 2014 to June 11,2014

April 01, 2013 to March 31, 2014


Purchase of Investments JPMorgan India Active Bond Fund - 65,478,795 JPMorgan India Liquid Fund - 2,597,376,800 JPMorgan India Treasury Fund - 66,167,101






the Fund

Total


Sale of Investments - - - - Previous Year - - 1,761,909 1,761,909

Investment Management and Advisory Fees - 2,805 - 2,805 Previous Year - 704,280 - 704,280

Service Tax on Investment Manger and Advisory Fees - 347 - 347 Previous Year - 87,466 - 87,466


Reimbursement of Expenses (Net) - 58,025 - 58,025 Previous Year - 254,263 - 254,263

(ii) Outstanding As At Year / Period End Investment Management and Advisory Fees Payable - - - 0.00Previous Year - 38,675 - 38,675


Service Tax on Investment Management Fees Payable - - - - Previous Year - 4,780 - 4,780

Receivable from Investment Manager - 58,025 - 58,025 Previous Year - 254,263 - 254,263

April 01, 2014 to April 09, 2014

April 01, 2013 to March 31, 2014

(iii) Details of material transactions with respect to parties referred to in Note 15 (ii) for Schemes under Common Control of the Sponsor of the Fund. Purchase of Investments JPMorgan India Liquid Fund - 2,285,423,922

Sale of Investments JPMorgan India Short Term Income Fund - 485,178 JPMorgan India Treasury Fund - 1,276,731



JPMORGAN INDIA FIXED MATURITY PLAN SERIES 16ANNEXURE - I



the Fund

Total


Sale of Investments - - - - Previous Year - - 970,386 970,386


Service Tax on Investment Manger and Advisory Fees

- 4,318 - 4,318

Previous Year - 129,738 - 129,738



(ii) Outstanding As At Year / Period End Investment Management and Advisory Fees Payable - - - - Previous Year - 147,664 - 147,664

Service Tax on Investment Management Fees Payable - - - - Previous Year - 18,253 - 18,253



April 01, 2014 to April 21, 2014

April 01, 2013 to March 31, 2014


Sale of Investments JPMorgan India Short Term Income Fund - 970,386



JPMORGAN INDIA FIXED MATURITY PLAN SERIES 18ANNEXURE - I



the Fund

Total


Sale of Investments - - - - Previous Year - - 966,596 966,596

Investment Management and Advisory Fees - 438 - 438 Previous Year - 377,704 - 377,704


- 54 - 54

Previous Year - 47,101 - 47,101

Trustee Fees and Expenses 438 - - 438 Previous Year 76,449 - - 76,449


(ii) Outstanding As At Year / Period End Investment Management and Advisory Fees Payable - - - 0.00Previous Year - 23,368 - 23,368

Service Tax on Investment Management Fees Payable - 1 - 1 Previous Year - 2,889 - 2,889



April 01, 2014 to April 02, 2014

April 01, 2013 to March 31, 2014


Sale of Investments JPMorgan India Short Term Income Fund - 966,596



JPMORGAN INDIA FIXED MATURITY PLAN SERIES 21 ANNEXURE I


Nature of Transaction Trustee Investment Manager Associate of Invest-ment Manager

Schemes under Common Control of Sponsor of the Fund

Total

(i) Transactions during the Period Purchase of Investments - - - - -

- - - 555,136,800 555,136,800

Subscription of Units (including switch in and dividend reinvestment) - - - - - Previous Period - - 200,000,000 - 200,000,000

- -

Redemption of Units (including switch out) - - 217,048,000 - 217,048,000 Previous Period - - - - -

Investment Management and Advisory Fees - 112,530 - - 112,530 Previous Period - 615,698 - - 615,698


- 13,909 - - 13,909

Previous Year - 76,100 - - 76,100

Trustee Fees and Expenses 34,651 - - - 34,651 Previous Period 122,000 - - - 122,000

Reimbursement of Expenses (Net) - - - - - Previous Period - 100,585 - - 100,585

(ii) Outstanding As At Period End Investment Management and Advisory Fees Payable - 8,577 - - 8,577 Previous Period - 117,248 - - 117,248

Service Tax on Investment Management Fees Payable - 1,059 - - 1,059 Previous Year - 14,493 - - 14,493

Trustee Fees and Expenses Payable - - - - - Previous Period 12,358 - - - 12,358

Units Outstanding As At Period End - - - - - Previous Period - - 212,902,000 - 212,902,000

Receivable from Investment Manager - - - - - Previous Period - 100,585 - - 100,585

April 1, 2014 to June 17, 2014

June 13, 2013 to March 31, 2014

(iii) Disclosures in respect of material transactions with persons referred to in Note 18 (i) for Associate of Investment Manager. Subscription of Units (including switch in and dividend reinvestment) Bennett Coleman & Co Limited - 200,000,000

Redemption of Units (including switch out) 217,048,000

Units Outstanding As At Period End Bennett Coleman & Co Limited - 212,902,000

April 1, 2014 to June 17, 2014

June 13, 2013 to March 31, 2014

(iv) Details of material transactions with respect to parties referred to in Note 18 (ii) for Schemes under Common Control of the Sponsor of the Fund. Purchase of Investments JPMorgan India Treasury Fund - 555,136,800






the Fund

Total

(i) Transactions during the Period Purchase of Investments - - 49,847,000 49,847,000 Previous Period - - 247,378,924 247,378,924

Sale of Investments - - - - Previous Period - - 39,846,480 39,846,480

Investment Management and Advisory Fees - 33,213 - 33,213 Previous Period - 31,032 - 31,032


Trustee Fees and Expenses 5,319 - - 5,319 Previous Period 5,256 - - 5,256

Reimbursement of Expenses (Net) - 96 - 96 Previous Period - 45,573 - 45,573

(ii) Outstanding As At Period End Investment Management and Advisory Fees Payable - 27,606 - 27,606 Previous Period - 5,024 - 5,024 Service Tax on Investment Management Fees Payable - 3,411 - 3,411 Previous Year - 621 - 621 Trustee Fees and Expenses Payable - - - - Previous Period 838 - - 838

Receivable from Investment Manager - 96 - 96 Previous Period - 45,573 - 45,573

April 1, 2014 to October 1, 2014

September 12, 2013 to March 31, 2014

(iii) Details of material transactions with respect to parties referred to in Note 18 (ii) for Schemes under Common Control of the Sponsor of the Fund. Purchase of Investments JPMorgan India Liquid Fund 49,847,000 - JPMorgan India Treasury Fund - 247,378,924

Sale of Investments JPMorgan India Treasury Fund - 39,846,480



JPMORGAN INDIA ANNUAL INTERVAL FUNDANNEXURE I


Nature of Transaction Trustee Investment Manager

Schemes under Common Control of Sponsor of the

Fund

Key Management Personnel and their

Relatives

Total

(i) Transactions during the Period Purchase of Investments - - - - - Previous Period - - 1,250,696,220 - 1,250,696,220

Sale of Investments - - - - - Previous Period - - 133,279,034 - 133,279,034

Subscription of Units (including switch in and dividend reinvestment) - - - - - Previous Year - - - 15,000,000 15,000,000

Redemption of Units (including switch out) - 16,593,000 - - 16,593,000 Previous Year - - - - -



- 6,296 - - 6,296

Previous Year - 14,570 - - 14,570

Trustee Fees and Expenses 21,942 - - - 21,942 Previous Period 32,056 - - - 32,056




Units Outstanding As At Period End - - - - - Previous Period - - - 16,022,100 16,022,100

April 1, 2014 to August 21, 2014

August 05, 2013 to March 31, 2014


Purchase of Investments JPMorgan India Active Bond Fund - 301,840,455 JPMorgan India Liquid Fund - 678,330,447 JPMorgan India Treasury Fund - 270,525,318

Sale of Investments JPMorgan India Treasury Fund - 133,279,034

(iv) Disclosures in respect of material transactions with persons referred to in Note 18 (iii) for Key Management Personnel and their Relatives. Subscription of Units (including switch in and dividend reinvestment) - 15,000,000 Nandkumar R Surti

Redemption of Units (including switch out) Nandkumar R Surti 16,593,000

Units Outstanding As At Period End Nandkumar R Surti - 16,022,100






Associate of In-vestment Manager


Fund

Total

(i) Transactions during the Period Purchase of Investments - - - - -

- - - 52,609,510 52,609,510




Service Tax on Investment Manger and Advisory Fees - 108,923 - - 108,923 Previous Year - 8,229 - - 8,229

Trustee Fees and Expenses - - - - - Previous Period 13,316 - - - 13,316

Reimbursement of Expenses (Net) - 6,561 - - 6,561 Previous Period - 51,814 - - 51,814






Receivable from Investment Manager - 6,561 - - 6,561 Previous Period - 51,814 - - 51,814

1 April, 2014 to February 18, 2015

February 11, 2014 to March 31, 2014

(iii) Disclosures in respect of material transactions with persons referred to in Note 18 (i) for Associate of Investment Manager. Subscription of Units (including switch in and dividend reinvestment) Bennett Coleman & Co Limited - 50,000,000

Redemption of Units (including switch out) Bennett Coleman & Co Limited 54,905,500 -

Units Outstanding As At Period End Bennett Coleman & Co Limited - 50,789,500

(iv) Details of material transactions with respect to parties referred to in Note 18 (ii) for Schemes under Common Control of the Sponsor of the Fund. Purchase of Investments JPMorgan India Treasury Fund - 52,609,510






Associate of In-vestment Manager


Fund

Total

(i) Transactions during the Period Purchase of Investments - - - 109,074,350 109,074,350

- - - 91,948,000 91,948,000


Redemption of Units (including switch out) - - - - - Previous Period - - - - -


Service Tax on Investment Manger and Advisory Fees - 54,012 - - 54,012 Previous Year - 3,518 - - 3,518

Trustee Fees and Expenses - - - - - Previous Period 5,692 - - - 5,692

Reimbursement of Expenses (Net) - 93,796 - - 93,796 Previous Period - 93,796 - - 93,796




Redemption of Units - 219,400,000 - - 219,400,000 Previous Period - - - - -


Receivable from Investment Manager - - - - - Previous Period - 93,796 - - 93,796

April 1, 2014 to February 26, 2015

February 24, 2014 to March 31, 2014

(iii) Disclosures in respect of material transactions with persons referred to in Note 18 (i) for Associate of Investment Manager. Subscription of Units (including switch in and dividend reinvestment) Bennett Coleman & Co Limited - 50,000,000 Dr. Reddys Laboratories Limited - 150,000,000

Redemption of Units (including switch out) Bennett Coleman & Co Limited 54,850,000 - Dr. Reddys Laboratories Limited 164,550,000 -

Units Outstanding As At Period End Bennett Coleman & Co Limited - 50,648,500 Dr. Reddys Laboratories Limited - 151,945,500

(iv) Details of material transactions with respect to parties referred to in Note 18 (ii) for Schemes under Common Control of the Sponsor of the Fund. Purchase of Investments JPMorgan India Liquid Fund 109,074,350 - JPMorgan India Treasury Fund - 91,948,000



ANNEXURE - IIDisclosure under Regulation 25 (11) of SEBI (Mutual Fund) Regulations, 1996

Investments made by the schemes of JPMorgan Mutual Fund in Companies or their subsidiaries that have invested more than 5% of the net assets of any scheme

Company invested in the scheme Name of the Company

Name of the scheme invested by the Company Investment made by the scheme in the company Investments made by the Schemes of JPMorgan

Mutual Fund in the Company or its subsidiary

Aggregate cost of acquisition during the period ended March 31, 2015

(Rupees in Lakhs)

Outstanding as on

March 31, 2015 (Rupees in Lakhs)

Bharti Airtel Ltd JPMorgan India Liquid Fund JPMorgan India Equity Fund 135.43JPMorgan India Tax Advantage Fund 4.84

Cairn India Ltd. JPMorgan India Liquid Fund JPMorgan Capital Protection Oriented Fund 0.96JPMorgan India Treasury Fund JPMorgan India Equity Fund 94.22JPMorgan India Fixed Maturity Plan - Series 21 JPMorgan India Tax Advantage Fund 3.71JPMorgan India Fixed Maturity Plan - Series 30JPMorgan India Fixed Maturity Plan - Series 32JPMorgan India Fixed Maturity Plan - Series 31

Dewan Housing Finance JPMorgan India Treasury Fund JPMorgan India Active Bond Fund 4,000.00Corporation Ltd JPMorgan India Income Fund - Series 302 2,199.52 2,005.13

JPMorgan India Liquid Fund 54,409.83 139.82JPMorgan India Short Term Income Fund 4,981.85JPMorgan India Treasury Fund 60,304.71JPMorgan India Fixed Maturity Plan - Series 23 844.53JPMorgan India Fixed Maturity Plan - Series 30 358.80 359.54JPMorgan India Fixed Maturity Plan - Series 33 3,470.51 3,495.53JPMorgan India Fixed Maturity Plan - Series 37 400.00 448.24

Dr. Reddys Laboratories Ltd. JPMorgan India Active Bond Fund JPMorgan Capital Protection Oriented Fund 5.91JPMorgan India Fixed Maturity Plan - Series 32 JPMorgan India Equity Fund 432.37

JPMorgan India Tax Advantage Fund 11.78Idea Cellular Ltd. JPMorgan India Liquid Fund JPMorgan Capital Protection Oriented Fund 1.85

JPMorgan India Equity Fund 100.52JPMorgan India Tax Advantage Fund 3.91

Infosys Ltd. JPMorgan India Liquid Fund JPMorgan Capital Protection Oriented Fund 3.15JPMorgan India Equity Fund 1,444.17 1,391.79JPMorgan India Tax Advantage Fund 56.75 55.26JPMorgan India Top 100 Fund 1,264.81 1,296.36JPMorgan India Equity Income Fund 1,572.07 953.07

ITC Ltd. JPMorgan India Active Bond Fund JPMorgan Capital Protection Oriented Fund 11.77JPMorgan India Liquid Fund JPMorgan India Equity Fund 470.66JPMorgan India Treasury Fund JPMorgan India Tax Advantage Fund 17.25JPMorgan India Fixed Maturity Plan - Series 12 JPMorgan India Top 100 Fund 406.59JPMorgan India Fixed Maturity Plan - Series 13 JPMorgan India Equity Income Fund 4,588.18JPMorgan India Fixed Maturity Plan - Series 21JPMorgan India Fixed Maturity Plan - Series 31

Just Dial Ltd. JPMorgan India Income Fund - Series 301 JPMorgan India Equity Fund 132.18JPMorgan India Tax Advantage Fund 3.54JPMorgan India Mid and Small Cap Fund 233.78

Maruti Suzuki India Ltd. JPMorgan India Active Bond Fund JPMorgan India Equity Fund 520.02 919.75JPMorgan India Liquid Fund JPMorgan India Tax Advantage Fund 23.85 41.04JPMorgan India Short Term Income Fund JPMorgan India Top 100 Fund 709.88 801.81JPMorgan India Income Fund - Series 301 JPMorgan India Equity Income Fund 3,724.81 1,571.13JPMorgan India Annual Interval Fund JPMorgan India Economic Resurgence Fund 378.64 381.90JPMorgan India Fixed Maturity Plan - Series 23

National Bank for Agriculture and JPMorgan India Liquid Fund JPMorgan India Fixed Maturity Plan - Series 20 766.21 538.62Rural Development JPMorgan India Active Bond Fund 28,028.10 182.28

JPMorgan India Income Fund - Series 302 448.96 2,723.08JPMorgan India Hybrid Fund Series 2 326.14 300.41JPMorgan India Income Fund - Series 301 26,222.38 8,421.15JPMorgan India Liquid Fund 166,430.60JPMorgan India Short Term Income Fund 1,089.40 580.04JPMorgan India Treasury Fund 71,101.81JPMorgan India Fixed Maturity Plan - Series 22 508.07 502.25JPMorgan India Banking and PSU Debt Fund 6,680.14 3,213.35JPMorgan India Income Fund - Series 502 427.70JPMorgan India Income Fund - Series 501 2,511.57

Reliance Industries Ltd JPMorgan India Active Bond Fund JPMorgan Capital Protection Oriented Fund 5.29JPMorgan India Treasury Fund JPMorgan India Equity Fund 359.52 205.86JPMorgan India Fixed Maturity Plan - Series 12 JPMorgan India Tax Advantage Fund 17.22 8.93JPMorgan India Fixed Maturity Plan - Series 13 JPMorgan India Top 100 Fund 274.72 212.11JPMorgan India Fixed Maturity Plan - Series 21 JPMorgan India Equity Income Fund 6,527.88 1,421.95JPMorgan India Fixed Maturity Plan - Series 30JPMorgan India Fixed Maturity Plan - Series 32JPMorgan India Fixed Maturity Plan - Series 31JPMorgan India Fixed Maturity Plan - Series 33

Sun Pharmaceutical Industries Ltd. JPMorgan India Annual Interval Fund JPMorgan India Equity Fund 298.86 671.04JPMorgan India Tax Advantage Fund 16.57 29.28JPMorgan India Top 100 Fund 421.96 621.83JPMorgan India Equity Income Fund 372.86 419.32



Company invested in the scheme Name of the Company

Name of the scheme invested by the Company Investment made by the scheme in the company Investments made by the Schemes of JPMorgan

Mutual Fund in the Company or its subsidiary

Aggregate cost of acquisition during the period ended March 31, 2015

(Rupees in Lakhs)

Outstanding as on

March 31, 2015 (Rupees in Lakhs)

Tata Consultancy Services Ltd. JPMorgan India Liquid Fund JPMorgan Capital Protection Oriented Fund 3.66JPMorgan India Equity Fund 162.99 648.37JPMorgan India Tax Advantage Fund 25.89 27.84JPMorgan India Top 100 Fund 682.62 555.89JPMorgan India Equity Income Fund 496.14 482.67

Tata Motors Ltd. JPMorgan India Treasury Fund JPMorgan Capital Protection Oriented Fund 2.44JPMorgan India Equity Fund 971.54 772.72JPMorgan India Liquid Fund 9,919.62JPMorgan India Short Term Income Fund 1,202.55JPMorgan India Tax Advantage Fund 37.74 34.54JPMorgan India Fixed Maturity Plan - Series 35 1,239.03 1,229.63JPMorgan India Fixed Maturity Plan - Series 38 312.52 307.41JPMorgan India Top 100 Fund 675.34 739.27JPMorgan India Corporate Debt Opportunities Fund 1,006.83JPMorgan India Equity Income Fund 384.65 407.81

Tata Steel Ltd. JPMorgan India Liquid Fund JPMorgan India Equity Fund 164.71JPMorgan India Tax Advantage Fund 4.56JPMorgan India Equity Income Fund 4,087.60 473.90JPMorgan India Income Fund - Series 302 1,000.30

UCO Bank JPMorgan India Mid and Small Cap Fund JPMorgan India Active Bond Fund 1,960.19JPMorgan India Fixed Maturity Plan - Series 13 2,497.14JPMorgan India Fixed Maturity Plan - Series 15 4,833.26JPMorgan India Fixed Maturity Plan - Series 17 4,364.40JPMorgan India Liquid Fund 239,598.28JPMorgan India Short Term Income Fund 8,849.73JPMorgan India Treasury Fund 108,252.91JPMorgan India Banking and PSU Debt Fund 1,791.73JPMorgan India Fixed Maturity Plan - Series 28 490.05

Ultratech Cement Ltd. JPMorgan India Short Term Income Fund JPMorgan India Equity Fund 549.35 749.95JPMorgan India Treasury Fund JPMorgan India Tax Advantage Fund 25.42 32.58JPMorgan India Fixed Maturity Plan - Series 12 JPMorgan India Top 100 Fund 1,026.77 644.07JPMorgan India Fixed Maturity Plan - Series 13 JPMorgan India Equity Income Fund 288.66 318.38JPMorgan India Banking and PSU Debt Fund JPMorgan India Economic Resurgence Fund 347.99 331.88JPMorgan India Fixed Maturity Plan - Series 33


ANNEXURE - IIDisclosure under Regulation 25 (11) of SEBI (Mutual Fund) Regulations, 1996 (Contd....)

Investments made by the schemes of JPMorgan Mutual Fund in Companies or their subsidiaries that have invested more than 5% of the net assets of any scheme

RISK FACTORS: Mutual funds and securities investments are subject to market risks and there is no assurance or guarantee against loss in the Scheme or that the Scheme’s objectives will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme can go up or down depending on various factors and forces affecting capital markets. Past performance of the Sponsor/AMC/Mutual Fund does not indicate the future performance of the Scheme. Investors in the Scheme are not being offered a guaranteed or assured rate of return. JPMorgan India Fixed Maturity Plan Series 12, JPMorgan India Fixed Maturity Plan Series 13, JPMorgan India Fixed Maturity Plan Series 15, JPMorgan India Fixed Maturity Plan Series 16, JPMorgan India Fixed Maturity Plan Series 18, JPMorgan India Fixed Maturity Plan Series 21, JPMorgan India Fixed Maturity Plan Series 28, JPMorgan India Annual Interval Fund, JPMorgan India Fixed Maturity Plan Series 31 and JPMorgan India Fixed Maturity Plan Series 32 are only the names of the respective schemes and they do not in any manner indicate the quality of the Scheme(s) or their future prospects and returns. MutualFundsinvestinsecuritieswhichmaynotalwaysbeprofitableandtherecanbenoguaranteeagainstlossresultingfrominvestinginthe Scheme. The Scheme’s value may be impacted by fluctuations in the bond markets, fluctuations in interest rates, prevailing political, economic and social environments, changes in government policies and other factors specific to the issuer of the securities, tax laws, liquidity of the underlying instruments, settlement periods, trading volumes, etc. Redemptions due to a change in the fundamental attributes of the Scheme or due to any other reason may entail tax consequences. Such tax shall be borne by the investor and the Mutual Fund shall not be liable for any tax consequences that may arise. For scheme specific risk factors, please refer to the Scheme Information Document/Statement of Additional Information. InvestorbenefitandGeneralservices: NAVs will be calculated on all business days and published in at least two daily newspapers. For liquid scheme, the NAVs will be calculated on all calendar days and published on all business days in at least two daily newspapers.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

SPONSOR - Edelweiss MF · SPONSOR JPMorgan Asset Management (Asia) Inc. 270 Park Avenue, New York,...

Documents

Transcript of SPONSOR - Edelweiss MF · SPONSOR JPMorgan Asset Management (Asia) Inc. 270 Park Avenue, New York,...