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Tuesday, January 06, 2009

HDFC MF announces various changes

With effect from 7 January 2009

HDFC Mutual Fund has announced changes in the exit load and frequency of the dividend distribution under HDFC Short Term Plan and introduces the payout facility under the dividend option of the same, with effect from 7 January 2009.

The fund house has revised the exit load for each purchase / switch in of units to 0.50% if redeemed / switched out within 3 months from the date of allotment. Earlier it charges nil for each purchase / switch in of units, upto and including Rs 25 crore. And it charges 0.25% for each purchase / switch in of units, greater than Rs 25 crore in value if redeemed / switched out within 15 days from the date of allotment.

The fund house has revised the frequency to Monthly frequency (25th of every month) with payout and reinvestment facility from existing fortnightly frequency with reinvestment facility.

The fund house has introduced the dividend payout facility under the dividend option of HDFC Short Term Plan.

HDFC Short Term Plan is an open ended income scheme with an objective to generate regular income through investment in debt securities and money market instruments.

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