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Thursday, January 01, 2009

IDFC-GSF-PF revises exit load

With effect from 01 January 2009

IDFC Mutual Fund has approved changes in the exit load structure and minimum application amount of the IDFC Government Securities Fund - Provident Fund Plan B (IDFC-GSF-PF) (Institutional Plan) with effect from 01 January 2009.

According to the notice, the fund will charge an exit load of 1.00% of NAV on investors who purchase/switch in amount less than or equal to Rs 5 crore and redeem/ switch out such investments within 1 year such from the date of effecting such purchase / switch in under Plan B. Investors opting for PEP/Dividend reinvestment option/SWP or switch between options will not be levied an exit load. No exit load shall be applicable in case of purchase/ switch in of amounts greater than Rs 5 crore. The minimum application amount under Plan B shall remain the same as Rs 2500001.

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