With effect from 02 January 2009
Lotus Mutual Fund has approved changes in the exit load structure and minimum application amount of the Lotus India Liquid Plus Fund, Lotus India Short Term Plan and Lotus India Active Income Fund with effect from 02 January 2009.
Lotus India Liquid Plus Fund
According to the notice, the fund will not charge any exit load where it levied 0.10% of exit load if redeemed within 4 days from the date of allotment and nil if redeemed after 4 days, earlier.
The minimum application amount under Plan has reduced to Rs 5000 from Rs 25000 and in multiples of Re 1 thereafter. The amount of minimum additional application has reduced to Rs 1000 from Rs 5000 and in multiples of Re 1 thereafter. And minimum amount for redemption has decreased to Rs 1000 or account balance, whichever is lower form Rs 5000.
Lotus India Short Term Plan:
Hereafter, the scheme will charge an exit load of 0.25% if redeemed/ switched-out on or before 3 months from the date of allotment. Earlier, it charges 0.25% of an exit for the redemptions on or before 90 days from the date of allotment (including the date of allotment).
The minimum application amount under Plan has reduced to Rs 5000 from Rs 10,000 and in multiples of Re 1 thereafter. The amount of minimum additional application has reduced to Rs 1000 from Rs 5000 and in multiples of Re 1 thereafter. And minimum amount for redemption has decreased to Rs 1000 or account balance, whichever is lower form Rs 5000.
Lotus India Active Income Fund:
Hereafter, the scheme will charge 1.00% of an exit load if units are redeemed/switched-out on or before 6 months from the date of allotment, 0.50%, if units are redeemed / switched out after 6 months but on or before 1 year from the date of allotment and nil for the redemptions/ switch outs after 1 year from the date of allotment.
The minimum amount for redemption has decreased to Rs 1000 or account balance, whichever is lower form Rs 5000.
