Annual Report Open Ended Debt-1 - IDFC Mutual Fund

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ANNUAL REPORT 2006 Date of declaration Frequency Non-Corporates Corporates 28-Feb-06 Yearly 0.3500 0.3260 06-Mar-06 Quarterly 0.0858 0.0799 GGSF - ST Date of declaration Frequency Non-Corporates Corporates 29-Apr-05 Monthly 0.0250 0.0233 31-May-05 Monthly 0.0250 0.0233 07-June-05 Quarterly 0.0750 0.0698 30-June-05 Monthly 0.0250 0.0233 29-July-05 Monthly 0.0500 0.0466 30-Aug-05 Monthly 0.0225 0.0210 08-Sep-05 Quarterly 0.0750 0.0698 28-Sep-05 Monthly 0.0150 0.0140 27-Oct-05 Monthly 0.0200 0.0186 30-Nov-05 Monthly 0.0257 0.0276 06-Dec-05 Quarterly 0.0630 0.0586 29-Dec-05 Monthly 0.0284 0.0265 30-Jan-06 Monthly 0.0020 0.0019 27-Feb-06 Monthly 0.0317 0.0295 31-Mar-06 Monthly 0.0496 0.0462 GGSF - PF Date of declaration Frequency Non-Corporates Corporates 08-Sep-05 Quarterly 0.1000 0.0931 06-Dec-05 Quarterly 0.1014 0.0944 28-Feb-06 Yearly 0.3000 0.2794 06-Mar-06 Quarterly 0.0946 0.0881 The schemes of the mutual fund under their respective dividend options have declared dividend. Looking at market conditions and due to inadequate distributable surplus no dividend was declared in following schemes: Scheme Name GGSF - ST GGSF - IP GGSF - PF GSSIF - IP GDBF GSSIF - MT Particulars Dividend was not declared in the monthly dividend option for the months of June 05, September 05, December 05 and March 06. Dividend was not declared under the quarterly dividend optionin Plan B for the quarter ended June, September, December 2005 and March 2006; & Half Yearly dividend for the half year September 2005 and March 2006 in Plan B and Yearly Dividend in Plan B Dividend was not declared under the quarterly dividend option for quarter June 2005 in Plan A and Plan B. Dividend was not declared under the quarterly dividend option for the quarter March 2006 (Plan A) . Dividend was not declared under the quarterly dividend option for the March 2006 (Plan A), For quarters June 2005 to March 2006 (PlanB&C)andunder Yearly dividend for the year ended March 2006 (Plan A)., Plan B & Plan C No Dividend was declared under PlanB&Cduring the year ended March 2006 GSSIF - ST Dividend was not declared under the Monthly Dividend option for the months April to August 2005, September and October 2005 (Plan B & C), April to December 2005 in Plan D STATUTORY DETAILS The price and redemption value of units, and income from them, can go up as well as down with fluctuations in the market value of its underlying investments. On written request, present and prospective unitholder/investors can obtain copy of the trust deed, the annual report of the scheme and the asset management company and the text of the relevant scheme. ACKNOWLEDGEMENT The trustees wish to place on record their gratitude to the unitholders for their continued support and to the Securities and Exchange Board of India, the Reserve Bank of India, the Registrars, Bankers, the Custodians and Sponsor (present and erstwhile) of SCMF for support provided by them during the year. For Standard Chartered Trustee Company Private Limited (The Trustee of Standard Chartered Mutual Fund) Chairman Place: Mumbai Date: August 2, 2006 7
OPEN ENDED SCHEMES AUDITORS’ REPORT To the Board of Trustees of Standard Chartered Mutual Fund We have audited the attached Balance Sheet of Standard Chartered Mutual Fund - Grindlays Super Saver Income Fund ('the Scheme') consisting of three Plans viz. Investment Plan, Short Term Plan and Medium Term Plan as at 31 March 2006 and the related Revenue Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Trustees of Standard Chartered Mutual Fund and the management of Standard Chartered Asset Management Company Private Limited. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. We report thereon as follows: • We have obtained all the information and explanations, which, to the best of our knowledge and belief, were necessary for the purpose of the audit; and • The Balance Sheet and the related Revenue Account dealt with by this report are in agreement with the books of account of the Scheme. • In our opinion and to the best of our information and according to the explanations given to us; - the Balance Sheet as at 31 March 2006 and the related Revenue Account for the year ended on that date, together with the notes thereon, 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, as applicable; - The Balance Sheet as at 31 March 2006 and the related Revenue Account for the year ended on that date together with the notes thereon give the information required by the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and amendments thereto, as applicable, and give a true and fair view: - In so far as it relates to the Balance Sheet, of the state of affairs of the Scheme as at 31 March 2006; and - In so far as it relates to the Revenue Account, of the surplus for the year ended on that date. • In our opinion and to the best of our information and according to the explanations given to us, the methods used to value non-traded/thinly traded securities in good faith are fair and reasonable. To the Board of Trustees of Standard Chartered Mutual Fund We have audited the attached Balance Sheet of Standard Chartered Mutual Fund - Grindlays Dynamic Bond Fund ('the Scheme') as at 31 March 2006 and the related Revenue Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Trustees of Standard Chartered Mutual Fund and the management of Standard Chartered Asset Management Company Private Limited. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. We report thereon as follows: • We have obtained all the information and explanations, which, to the best of our knowledge and belief, were necessary for the purpose of the audit; and • The Balance Sheet and the related Revenue Account dealt with by this report are in agreement with the books of account of the Scheme. • In our opinion and to the best of our information and according to the explanations given to us; - the Balance Sheet as at 31 March 2006 and the related Revenue Account for the year ended on that date, together with the notes thereon, 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, as applicable; - The Balance Sheet as at 31 March 2006 and the related Revenue Account for the year ended on that date together with the notes thereon give the information required by the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and amendments thereto, as applicable, and give a true and fair view: - In so far as it relates to the Balance Sheet, of the state of affairs of the Scheme as at 31 March 2006; and - In so far as it relates to the Revenue Account, of the surplus for the year ended on that date. • In our opinion and to the best of our information and according to the explanations given to us, the methods used to value non-traded/thinly traded securities in good faith are fair and reasonable. For BSR & Co. Chartered Accountants For BSR & Co. Chartered Accountants Mumbai Date: August 2, 2006 Akeel Master Partner Membership No.: 46768 Mumbai Date: August 2, 2006 Akeel Master Partner Membership No.: 46768 8
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OPEN ENDED SCHEMES Annexure - D: Re
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ANNUAL REPORT 2006 RISK FACTORS Ris
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Annual Report Open Ended Debt-1 - IDFC Mutual Fund

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