ICICI Prudential Mutual Fund has approved revision in the exit load structure of ICICI Prudential Floating Rate Plan A and ICICI Prudential Long Term Floating Rate Plan A, B and C, with effect from 27 February 2009.
Accordingly, under ICICI Prudential Floating Rate plan A, for an investment up to Rs 1 crore the scheme will levy 2.75% of exit load if the amount, sought to be redeemed, is invested upto 2 years from the date of allotment and nil if the amount to be redeemed, is invested for more than 2 years from the date of allotment. The scheme will not levy any exit load for the investment above Rs 1 crore.
The exit load of 2.75% will be charged for Systematic Transfer Plan (STP) out of this scheme into ICICI Prudential Growth Plan, ICICI Prudential Index Fund, ICICI Prudential Tax Plan, and ICICI Prudential Equity & Derivative Fund - Income Optimiser Plan. It will be nil for STP out of this scheme to equity scheme of the fund other than those mentioned above. And exit load of 2.75% will be charged for switch out from this scheme into ICICI Prudential Growth Plan, ICICI Prudential Index Fund, ICICI Prudential Tax Plan, and ICICI Prudential Equity & Derivative Fund - Income Optimiser Plan the institutional option and for Systematic Transfer Plan (STP) out of retail option of the scheme and all debt schemes of the fund.
Under ICICI Prudential Long Term Floating Rate Plan A and Plan B, the scheme will levy 4.00% of exit load if the amount, sought to be redeemed or switched out, is invested upto 13 months from the date of allotment and nil if the amount to be redeemed or switched out, is invested for more than 13 months from the date of allotment. The scheme will not levy any exit load for Plan C.