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Wednesday, January 07, 2009

Escort announces changes in terms of SIP

With effect from 10 January 2009

Escort Mutual Fund announces changes in term of Systematic Investment Plan (SIP). The fund house has introduce the Auto debit ECS form under Escorts Income Bond, Escorts Income Plan, Escorts tax Plan, Escorts Opportunities Fund, Escorts Growth Plan, Escorts gilt Plan, Escorts Balanced Fund, Escorts High Yield Equity Plan, Escorts Leading Sectors Fund and Escorts Power & Energy Fund with effect from 10 January 2009.

The Terms of SIP:

Minimum Investment amount: For monthly option Rs 1000 per month subject to minimum 6 installments. For quarterly option Rs 1500 per quarter subject to minimum 4 installments. However, for SIP under Escorts Opportunities Fund is applicable as given under the plan.

SIP Dates – 1st, 10th and 25th of every month.

Registration of SIP – SIP to be registered by the investors with Escorts Mutual fund atleast 30 clear days before the first SIP date.

Validity of SIP – As indicated by the investors in the application form against SIP start date and SIP end date. If SIP end date is not filled the SIP auto debit will be considered perpetual till further instructions are received from the investor.

Termination of SIP – If 3 consecutive SIPs fail, the SIP will be automatically terminated without any notice to investors. However, in case the investor gives in writing to discontinue SIP, the instructions much reach Escorts mutual fund atleast 20 clear days from the next SIP date.

All other terms and conditions of the schemes will remain unchanged.

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