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Thursday, January 15, 2009

Fortis MF revises exit load of its Short Term Income Fund

With effect from 15 January 2009

Fortis Mutual Fund has announced the revision of exit load of the Fortis Short Term Income Fund with effect from 15 January 2009. The scheme has three plans namely regular, institutional, and institutional plus plan.

Here after, for all plans 1% shall be exit load if units are redeemed /switched out on or before the expiry of 6 months from the date of investment.

Earlier, for regular and institutional plan, 0.25% was the exit load if redeemed/switched-out within 15 days from the date of investment while institutional plus plan was charged 0.15% exit load if redeemed within 90 days from the date of investment.

The Fortis Short Term Income Fund does not ask entry load.

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