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Tuesday, February 17, 2009

HDFC MF revises load structure for STP

With effect from 20 February 2009

HDFC Mutual Fund has decided to revise the load structure for investments through Systematic Transfer Plan (STP) from the transferor scheme to the following transferee schemes Viz., HDFC Multiple Yield Fund, HDFC Multiple Yield Fund - Plan 2005, HDFC Income Fund, HDFC High Interest Fund, HDFC Short Term Plan, HDFC Cash Management Fund, HDFC MF Monthly Income Plan, HDFC Gilt Fund, HDFC Floating Rate Income Fund, HDFC Liquid Fund and HDFC Arbitrage Fund.

Accordingly, the fund house has revised the amount transferred under the STP form the transferor scheme to the transferee scheme will be effected by redeeming units of transferor scheme at applicable NAV, after payment of exit load, if any, and subscribing to the units of the transferee scheme at applicable NAV, without payment of any entry load, if any, as on the specified date of a month or a quarter. In case the date falls on a Non-business day or falls during a book closure period, the immediate next business day will be considered for the purpose of determining the applicability of NAV. And no change in the exit load.

Earlier, the amount transferred under the STP form the transferor scheme to the transferee scheme will be effected by redeeming units of transferor scheme at applicable NAV, without payment of any exit load, if any, and subscribing to the units of the transferee scheme at applicable NAV, without payment of any entry load, if any, as on the specified date of a month or a quarter. In case the date falls on a Non-business day or falls during a book closure period, the immediate next business day will be considered for the purpose of determining the applicability of NAV.

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