Format A - I

DECLARATION /UNDERTAKING FROM THE STUDENT

I, Mr./Ms. ...........................,Roll. No..:
, Programme:, Batch ,
student of Indian Institute of Management Calcutta, do hereby undertake on this the
(day), of ..................(month),................ (year), the following :I authorise Xyz to maintain a running account, i.e. to retain funds and securities
deposited by me or received as pay-outs from the Exchange on my behalf with
itself on an ongoing basis. Such funds are to be utilized for the purpose of
meeting margin obligations as and when required.
In this regard, I confirm the following:

1. I understand that "funds" mean credit balance in my account or received as

pay-outs from the Exchange

2. I understand and agree that Xyz Bank shall not pay any interest on the funds held
and securities lying with it in the margin account created in this regard.

3. I understand and agree that Xyz Bank at its sole discretion may transfer the funds
through ECS or issue a cheque or demand draft in my favour and send the same to
my registered address.
4. Xyz Bank shall not be responsible for delay or default in the performance of their
obligations due to contingencies beyond their control, such as fire, flood, civil
commotion, riots, earthquake, war, strikes, failure of the system, failure of Internet
links or government/regulatory actions including without limitation, any Act of God,
lockouts, law and order problem, embargo, moratorium, declaration of a public
holiday, or any other cause beyond the reasonable control of Xyz Bank.
5. I shall bring any dispute arising from the statement of funds and securities or
arising from settlement so made to the notice of Xyz Bank within 7 working days
from the date of receipt of funds / securities or statement, as the case may be.

6. I agree to all the rules of the scheme given in Annexe-1 and agree to abide
by them.

7. I, further understand that, the Institute shall in no way provide any financial
support to me relating to this scheme and will not be held responsible for any
trades/other investment activities undertaken by xyz.

xyz and the investor shall be bound by all the Rules, Byelaws and Regulations of
the Exchange and circulars/notices issued there under and Rules and
Regulations of SEBI and relevant notifications of Government authorities as may
be in force from time to time.

Signature/s of investor
Date _______________

Annexe-I
Rules of Operation Zest Invest Fund

Account opening with fund o

Interested students need to fill account opening form with fund mentioning
their bank account details (to transfer funds, in case of exit)

A one-time operational fee of 200 per applicant shall be charged in order

to manage the fund expenses (transaction charges, account opening charges,
etc.)

Investment period o

Reporting day - Fund basket value would be reported on 1 st of each month

A refundable fluctuation premium of 100 would be charged above this

basket value (to account for basket value variation between reporting day &
trading day)

Investment day - Investment/repurchase requests will be accepted on 2 nd of

each month

Investment/repurchase requests - Investors need to fill Investment google

form & transfer money to funds banking account by end of Investment day

Holding period - Minimum holding period for any investment is 2 months

Trading periodo

Trading day - Net amount (investments repurchases) will be traded on the

first trading day following 2nd of each month

Investments/repurchases during investment period would be valued as per the

basket value on trading day

Any refund on fluctuation premium will be transferred back to investors

account
2nd of each month
1st trading day post 2nd
Investment day
Trading day
Investment/Repurchase requests Actual investment & refund of fluctuation

of each month
Reporting Day
ket value reported

accep

premium, if

ted

any

Table 1 Fund operation time-line

Transparency/disclosure o

Fund basket value (up to 4 decimal places) will be reported on a weekly basis

Detailed reports regarding funds performance will be generated on a

monthly basis for investors to make decision on further investment or sale of
assets

Account sheet - Google Spreadsheet will be maintained and shared with all
investors to keep a track of their investments & repurchases

Portfolio alteration
o

New monthly investment/repurchases would be made on trading day to

maintain initial sectoral weights

Fund would be rebalanced when fund value changes by +/- 15%

Baskets may be altered based on recent news and available information with
rationale being value maximization while minimizing risk