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Thursday, February 05, 2009

Fortis MF introduces additional investment plan for its Flexi Debt Fund

With effect from 6 February 2009

Fortis Mutual Fund has introduces the additional plan viz. Regular Plan A under the Fortis Flexi Debt Fund. The changes will be taken with effect from 6 February 2009. The portfolio for existing regular plan and Regular Plan A shall remain the same.

The details of the Regular Plan A under Fortis Flexi Debt Fund:

Fortis Flexi Debt Fund is an open ended income fund with an investment objective to generate income through investments in a range of debt and money market instruments of various maturities with a view to maximize income while maintaining an optimum balance between yield, safety and liquidity.

The Regular Plan A will offer growth and dividend options. Dividend option will have daily, weekly, quarterly, & half-yearly dividend option.

The minimum application amount for growth option of Fortis Flexi Debt Fund -Regular Plan A will be Rs 5000 and in multiples of Re 1 thereafter. While, minimum application amount for quarterly and half yearly dividend option will be Rs 20000 and in multiples of Re 1 thereafter.

For daily dividend option, the investors shall invest minimum amount of Rs 10 lakh and in multiples of Re 1 thereafter. Investors under weekly dividend option will invest Rs 1 lakh and in multiples of Re 1 thereafter as the minimum application amount.

The Plan will not ask an entry and exit load. However, Contingent Deferred Sales Charge (CDSC) will be levied at 0.75% if redeemed/switched-out within 6 months from the date of allotment. No CDSC will be charged for redeems after 6 months from the date of allotment. CDSC permitted under the Regulations to be borne by the unit holder upon exiting (whether by way of redemption or inter-scheme switching) based on the amount of investment (if applicable) and period of holding of units.

The benchmark for the scheme is CRISIL Composite Bond Fund Index.

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