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Wednesday, December 31, 2008

UTI Wealth Builder Fund-Series II changes exit load

For both retail and institutional plan

UTI Mutual Fund has published corrigendum on 30 December 2008 to addendum dated 15 December 2008. It has proposed to change the exit load structure of UTI Wealth Builder Fund - Series II.

Retail Plan

As per the corrigendum, for purchase/ switch-in of units less than Rs 2 crore, the fund will levy exit load of 1.00% if units are redeemed/ switched exited on or before 365 days from the date of acceptance. And in respect of each purchase/ switch-in of units of Rs 2 crore and above in value, an exit load of 0.50% is payable if units are redeemed/ switched out on or before 365 days from the date of acceptance.

Earlier, for investment amount less than Rs 2 crore, 1.00% of an exit load was applicable if exited on or before 365 days from the date of closure of the offer period and for investment amount equal to or greater than Rs 2 crore, 0.50% of an exit load was applicable if exited on or before 365 days from the date of closure of the offer period.

Institutional Plan

As per the revision, for each purchase/ switch in of units of Rs 1 crore and above in value an exit load of 0.50% is payable if units are redeemed/ switched out on or before 180 days from the date of acceptance.

Earlier, the scheme levied 0.50% of exit load if exited on or before 180 days from the date of closure of the offer period.

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