IDFC Mutual Fund has approved changes in the exit load structure and minimum application amount of the IDFC Government Securities Fund-Short Term Plan B (Institutional Plan) with effect from 10 December 2008. The fund house has introduced Plan B (Institutional Plan) under the scheme from 10 November 2008.According to the notice, the fund will not charge exit load under plan B.
Earlier, it charged exit load of 0.25% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 15 days from the date of effecting such purchase/ switch in Plan B (Institutional Plan). Investors opting for PEP/Dividend reinvestment option/SWP or switch between options will not be levied an exit load.The minimum application amount also has been revised upward to Rs 1 crore under Plan B (Institutional Plan) from earlier Rs 5000 and in multiples of Re 1 thereafter.
Earlier, it charged exit load of 0.25% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 15 days from the date of effecting such purchase/ switch in Plan B (Institutional Plan). Investors opting for PEP/Dividend reinvestment option/SWP or switch between options will not be levied an exit load.The minimum application amount also has been revised upward to Rs 1 crore under Plan B (Institutional Plan) from earlier Rs 5000 and in multiples of Re 1 thereafter.
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