Schedule 11 - Annual Report

Annual report requirements mandate comprehensive mutual fund disclosure of scheme-wise financials, valuation and auditor opinion.

Mutual funds must publish an annual report containing the trustee company's operational report, scheme-wise balance sheet and revenue account, auditor's report, trustee statements on liabilities and investment policy, and detailed accounting policies. Balance sheet disclosures must be scheme-wise in the Board's format, show per-unit NAV, market/fair values, below-investment-grade/default classifications, nonperforming real estate amounts, movement in unit capital, contingent liabilities and related-party service payments. Real estate valuations require two approved valuers, reconciliation of carrying amounts and disclosure of valuation methods. The revenue account must separately disclose inter-scheme transfers, unprovided depreciation/unrealised appreciation and real estate income and operating expenses. The auditor reports to the trustee company and must opine on true and fair presentation scheme-wise. A perspective per-unit statistics statement with specified per-unit metrics for comparative years is required.