HDFC MF Revises Load Structure

admin — Mon, 30 Mar 2009 09:16:06 +0000

HDFC Mutual Fund has decided to revise load structure (non SIP/STP) in HDFC Floating Rate Income Fund-Long Term Plan. The details are:

Existing Provision:

Entry Load:

Direct applications and applications routed through and any agent/ distributor/broker: nilExit load:

In respect of each purchase/switch-in of units upto and including Rs 10 lakh in value, an exit load of 0.50% is payable if units are redeemed/switched-out within 6 months from the date of allotment.

In respect of each purchase/switch-in of units greater than Rs 10 lakh in value, an exit load of 1% is payable if units are redeemed/switched-out within 6 months from the date of allotment.

Revised Provision:

Entry Load:

Applications not routed through and any agent/ distributor/broker (direct application): nil

Applications routed through and any agent/ distributor/broker; in respect of each purchase/switch-in of units, and entry load of 1% is payable.

Exit load:

In respect of each purchase/switch-in of units upto and including Rs 10 lakh in value, an exit load of 0.50% is payable if units are redeemed/switched-out within 6 months from the date of allotment.

In respect of each purchase/switch-in of units greater than Rs 10 lakh in value, an exit load of 3% is payable if units are redeemed/switched-out within 18 months from the date of allotment.

The aforesaid change will be applicable on a prospective basis from 1 April 2009 in respect of investments made in HDFC Floating Rate Income Fund-Long Term Plan.

HDFC Floating Rate Income Fund-Long Term Plan is an open ended income scheme with an investment objective to generate regular income through investment in portfolio comprising substantially of floating rate debt/money market instruments, fixed rate debt/money market instruments swapped for floating rate returns and fixed rate debt securities and money market instruments.

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HDFC MF Revises Load Structure