Fortis Revises Exit Load For Two Funds - Dec 09, 2008

Fortis Mutual Fund has announced the revision of exit load of the Fortis Flexi Debt Fund & Fortis Bond Fund with effect from 10 November 2008. Here after, for application amount less than or equal to Rs 25 lakh.

The scheme will levy 2% exit load, if redeemed/switched-out within 6 months from the date of allotment.1.50% of exit load if redeemed/switched-out after 6 months but within 12 months from the date of allotment. 0.75%, if redeemed/switched-out after 12 months but within 18 months from the date of allotment and nil, if redeemed/switched-out within 12 months from the date of allotment.

For investment amount more than Rs 25 lakh but less than or equal to Rs 1 crore, the scheme will charge 1% of exit load if redeemed/switched-out within 12 months from the date of allotment. And it will not levy any exit load for the investment amount more than Rs 1 crore.

Earlier it charges, for investment amount less than or equal to Rs 3 crore, 1.00% if redeemed/switched-out within 12 months from the date of investment. And no exit load for the redemption after 12 months from date of investment and for the investment amount more than Rs 3 crore.