SBI Mutual Fund has approved introduction of a Micro Systematic Investment Plan (MicroSIP) facility under the current Systematic Investment Plan facility available under growth options of following schemes- Magnum Balanced Fund as well as Magnum Multiplier Plus Scheme 93, Magnum Sector Funds-Umbrella-Contra Fund, SBI Blue Chip Fund. The proposed changes will be effective from April 15, 2009.
The minimum application amount will be Rs 100 and in multiples of Rs 50 thereof. However, the minimum redemption amount will be Rs 500. The minimum tenure of SIP will be 5 years.
However, for MicroSIP, no entry load will be charged for direct applications while an entry load of 2.25% will be charged of the applicable NAV for applications other than direct applications.
For exit before 2 years from the date of investment of each installment, the exit load will be 3% of the applicable NAV. For exit after 2 years but before 5 years from the date of investment of each installment, the scheme will charge 2% as exit load of applicable NAV. However, the schemes would not levy exit load for exit after 5 years from the date of investment of each installments.
The minimum application amount will be Rs 100 and in multiples of Rs 50 thereof. However, the minimum redemption amount will be Rs 500. The minimum tenure of SIP will be 5 years.
However, for MicroSIP, no entry load will be charged for direct applications while an entry load of 2.25% will be charged of the applicable NAV for applications other than direct applications.
For exit before 2 years from the date of investment of each installment, the exit load will be 3% of the applicable NAV. For exit after 2 years but before 5 years from the date of investment of each installment, the scheme will charge 2% as exit load of applicable NAV. However, the schemes would not levy exit load for exit after 5 years from the date of investment of each installments.
No comments:
Post a Comment