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Friday, February 13, 2009

Fortis MF announces changes

Change in default facility

Fortis Mutual Fund has announced changes in Fortis Flexible Short Term Plans and Fortis Interval Funds. The fund house has decided that the default facility will be modified to automatic redemption from automatic renewal effective from the interval date of the respective series/plans of the schemes.

Fortis Flexible Short Term Plans and Fortis Interval Funds are debt oriented interval funds. the primary objective of the schemes launched would be to seek to generate steady returns through investments made in a basket of fixed income securities, with a provision to offer liquidity at periodic intervals.

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