Annual Report Open Ended Debt-1 - IDFC Mutual Fund

OPEN ENDED SCHEMES
11. NOTES TO ACCOUNTS
11.1 Investment management fees
The schemes have paid or provided for investment management fees in
accordance with the agreement with the AMC as amended from time to
time and the offer document. In terms of the offer document, the AMC is
entitled to receive such fee upto an annual rate upto 1.25% of the Scheme's
average daily net assets on the first Rs 100 crores and @ 1% on the
excess amount over Rs 100 crores. For the current year, the Scheme has
accrued management fees at an average annual rate of average daily net
asset values for the following schemes:
Scheme For the year ended For the year ended
Name March 31, 2006 March 31, 2005
Plan A Plan B Plan C Plan A Plan B Plan C
GSSIF-IP 1.11% NA NA 1.05% 0.75% 0.55%
GSSIF-ST 0.34% 0.41% 0.26% 0.48% 0.59% 0.56%
GSSIF-MT 0.71% - - 0.62% 0.53% 0.41%
GDBF 0.59% - - 1.07% 1.03% 1.10%
GGSF-IP 1.12% - - 1.24% 0.56% -
GGSF-ST 0.09% - - 0.43% - -
GGSF-PF 1.01% 0.91% - 0.30% 0.74% -
*Annualised from the date of allotment as the sub-plan commenced during
the previousyear. Income represents income from the date when minimum
subscription was achieved and expenses represents expenses from the
date of allotment.
11.2 Trustee fees
In accordance with the trust deed as amended from time to time, GSSIF
- IP has accrued trustee fees of Rs 330,600 (Previous Year: Rs 362,500)
for all the schemes of the Fund.
11.3 Custodian fees
Deutsche Bank AG, India provides custodian services to the schemes for
which it charges custodian fees as per the terms of the custodian agreement.
11.4 Income tax
No accounting for income tax has been made as the schemes qualify as a
recognised Mutual Fund under section 10 (23D) of the Income Tax Act,
1961 and the Direct Tax Laws (Amendment) Act, 1988.
11.5 Aggregate value of purchases and sales
The aggregate value of purchases and sales during the year as a percentage
of the schemes average daily net assets is as follows:
Scheme Name March 31, 2006 March 31, 2005
Purchases Percentage Sale Percentage
GSSIF-IP 46,116,475,225 2,762.63 216,491,247,884 2,744.98
GSSIF-ST 52,998,266,038 1,365.52 93,969,632,387 2,051.89
GSSIF-MT 8,642,601,024 15,367.87 120,873,227,357 4,749.45
GDBF 42,159,230,514 5,801.20 778,531,761,502 11,095.96
GGSF-IP 15,104,103,709 12,827.65 26,717,315,325 6,637.80
GGSF-ST 1,854,514,444 13,806.47 1,057,614,981 5,316.07
GGSF-PF 46,037,242,799 14,614.15 52,047,544,665 16,553.38
Scheme Name March 31, 2006 March 31, 2005
Sale Percentage Sale Percentage
GSSIF-IP 47,255,243,444 2,830.84 229,840,766,918 2,914.24
GSSIF-ST 52,471,495,325 1,351.95 100,146,905,727 2,186.78
GSSIF-MT 8,815,526,754 15,675.36 123,542,956,336 4,854.35
GDBF 42,823,158,865 5,892.56 785,134,995,036 11,190.07
GGSF-IP 15,159,316,166 12,874.54 27,180,951,148 6,752.99
GGSF-ST 1,847,652,336 13,755.38 1,057,744,961 5,316.72
GGSF-PF 46,239,710,100 14,678.42 51,882,796,233 16,500.98
11.6 Appreciation/depreciation on investments
The aggregate appreciation and depreciation in the value of investments is
as follows:
Scheme / Category
Of Investment As at March 31, 2006 As at March 31, 2005
Appreciation Depreciation Appreciation Depreciation
GSSIF-IP
Privately placed
debentures and bonds - - 4,841,866 (31,390,999)
Debentures and bonds
listed/ awaiting listing on
recognised stock exchange - - 3,386,158 (2,670,850)
Government Securities - - - (411,990)
Treasury Bills - - 75,700 -
Mutual Fund Units 415,104 - 579,343 -
Securitised Debt - (58,690,093) - -
GSSIF-ST
Privately placed
debentures and bonds - (680,562) 212,456 (3,236,644)
Debentures and bonds
listed/ awaiting listing on
recognised stock exchange 223,500 - - -
Securitised Debt - (15,520,992) - -
GSSIF-MT
Privately placed
debentures and bonds - -(48,065,560) -
GDBF
Privately placed
debentures and bonds - - 12,918,921 (95,005,182)
Mutual Fund Units 415,104 - - -
Securitised Debt - (55,376,053) - -
GGSF-IP
Government Securities - - - (7,400)
Mutual Fund Units 510,106 - 19,192 -
GGSF-ST
Government Securities - (18,650)
Treasury Bills 106,020 -
GGSF-PF
Government Securities - - - (58,650)
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