Kotak Mutual Fund has announced the changes in load structure under Kotak 30 as well as Kotak Midcap, Kotak Contra, Kotak Opportunities, Kotak Lifestyle, Kotak Balance, Kotak Tax Saver and Kotak Equity FOF with effect from June 1, 2009. The changes are: Entry load: All the above scheme will charge an entry load of 2.25%, for the purchase amount less than Rs 5 crore.
However, for switches, from equity/balanced/equity FOF scheme to equity/balanced/equity FOF scheme, there will be no entry load. From other close ended schemes (excluding FMP and Interval Plans) during the predefined liquidity window of the scheme as defined in the respective offer documents or on maturity into equity/balanced/equity FOF scheme, there will be no entry load. From any other scheme (other than the above mentioned scheme) to equity/balanced/equity FOF scheme-the scheme will charge an entry load of 2.25% for purchase amount less than Rs 5 crore.
Exit load: For redemptions or switch outs in respect of SIP/STP transactions-For amount invested less than Rs 5 crore, an exit load of 2.25% will be charged if exit within 2 years from the allotment of units while it will be nil for an exit on or after 2 years. For other redemptions or switch outs - the scheme will charge an exit load of 1.00% for exit within 1 year from the allotment of units and nil for exit on or after 1 year from the allotment of units.
However, for switches, from equity/balanced/equity FOF scheme to equity/balanced/equity FOF scheme, there will be no entry load. From other close ended schemes (excluding FMP and Interval Plans) during the predefined liquidity window of the scheme as defined in the respective offer documents or on maturity into equity/balanced/equity FOF scheme, there will be no entry load. From any other scheme (other than the above mentioned scheme) to equity/balanced/equity FOF scheme-the scheme will charge an entry load of 2.25% for purchase amount less than Rs 5 crore.
Exit load: For redemptions or switch outs in respect of SIP/STP transactions-For amount invested less than Rs 5 crore, an exit load of 2.25% will be charged if exit within 2 years from the allotment of units while it will be nil for an exit on or after 2 years. For other redemptions or switch outs - the scheme will charge an exit load of 1.00% for exit within 1 year from the allotment of units and nil for exit on or after 1 year from the allotment of units.
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