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Friday, January 02, 2009

Lotus MF revises exit load for various funds

With effect from 02 January 2009

Lotus Mutual Fund has approved changes in the exit load structure of Lotus India Contra Fund, Lotus India Equity Fund, Lotus India Agile Fund and Lotus India Growth Fund with effect from 02 January 2009.

According to the notice all the above mentioned schemes will levy an entry charge of 2.25% for each purchase/ switch-in of units less than Rs 5 crore and nil for the purchase/ switch-in of unit equal to or greater than Rs 5 crore. 2.25% of an entry load for purchase through SIP/STP. And nil for the applications not routed through any distributor/agent/broker.

Each scheme will charge an exit load of 1.00% for each purchase/ switch-in of units less than Rs 5 crore if redeemed/ switched out on or before 6 months from the date of allotment. 0.50%, of an exit load will be charged if redeemed/ switched out after 6 months but on or before 1 year from the date of allotment. And no exit load will be charged if redeemed/ switched out after 1 year from the date of allotment. In respect of each purchase/switch out of units equal to or greater than Rs 5 crore, no exit load is payable. For investment through SIP/STP, an exit load of 1% is payable if units are redeemed/switched-out within 12 months from the date of allotment.

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