IDFC Mutual Fund has decided to revise the exit load structure for its IDFC Monthly Income Plan. The changes will be effective from 01 October 2010.
Accordingly, the exit load would be 1.50% of the NAV for redemptions/switch outs anytime within 18 months from the date of subscription applying First In First Out Basis. No load shall be applicable for switches between options of the schemes.
Moreover, the exit load /CDSC of up to 1% of the redemption value charged to the unit holders by the fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for payment of commissions to the ARN holder and to meet other marketing and selling expenses. Any amount in excess of 1% of the redemption value charged to the unit holder as exit load/ CDSC shall be credited to the respective scheme immediately.
IDFC Monthly Income Plan aims at generating regular returns primarily through investment in debt oriented mutual fund schemes and to generate long term capital appreciation by investing a portion of the schemes assts in equity oriented MF schemes.
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