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Wednesday, December 31, 2008

Kotak MF announces changes in load structure

With effect from 2 January 2009

Kotak Mutual Fund, with effect from 2 January 2009 has announced changes in load structure for Kotak 30, Kotak Tech, Kotak MNC, Kotak Balance, Kotak Global India, Kotak Midacp, Kotak Contra, Kotak Opportunities, Kotak Tax Saver, Kotak Lifestyle and Kotak Equity FOF.

The changes are as follows:

Entry load:

Purchases: 2.25% for investments less than Rs 5 crore and nil for investments greater than equal to Rs 5 crore.

Entry load is nil for switches from equity/balanced/equity FOF scheme to equity/balanced/equity FOF for all type of transactions (for investments less than Rs 5 crore and for investments greater than equal to Rs 5 crore).

Entry load is nil for switches 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 for all type of transactions (for investments less than Rs 5 crore and for investments greater than equal to Rs 5 crore).

Entry load is 2.25% investments less than Rs 5 crore and nil for investments greater than equal to Rs 5 crore for switches from any other scheme (other than mentioned in above cases) to equity/balanced/equity FOF scheme.

Exit load:

For redemptions or switch outs in respect of SIP/STP transactions:

For investments less than Rs 5 crore: 2%, if investor exits within 1 year from the allotment of units. 1% for exit on or after 1 year but before 2 years from the allotment of units. Nil for exit on or after 2 years.

For investments greater than equal to Rs 5 crore: nil

For other redemptions or switch outs:

For investments less than Rs 5 crore: 1%, for exit within 1 year from the allotment of units. Nil for exit on or after 1 year from the allotment of units.

For investments greater than equal to Rs 5 crore: nil

For investment by Fund of Funds schemes there will not be any entry and exit loads in the aforesaid equity schemes. There is no exit load applicable to Kotak Tax Saver Scheme.

No entry or exit loads shall be applicable to dividend reinvestments in any schemes of Kotak Mahindra Mutual Fund.

No entry or exit loads shall be applicable for investments by Fund of Funds schemes in open ended debt schemes and Kotak Equity Arbitrage Scheme.

There will no change in the applicable load structure of Kotak Star Kid Facility available under Kotak 30, Kotak Opportunities and Kotak Tax Saver.

Enrty load shall be nil for direct applications received by AMC.

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