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Friday, April 24, 2009

Birla Sun Life MF announces changes

With effect from 27 April 2009

Birla Sun Life Mutual Fund has announced changes in features of dividend sweep facility in open ended equity schemes with effect from 27 April 2009.

Name of the facility: Dividend sweep facility

Existing provision: Under dividend sweep facility the unit holders can opt for switching the dividend earned under any of the open-ended equity schemes into any other open-ended equity scheme or into Birla Sun Life Cash Plus-Retail Plan of Birla Sun Life Mutual Fund.

Revised provision*: Under dividend sweep facility the unit holders can opt for switching the dividend earned under any of the open-ended equity schemes into any other open-ended equity scheme or into retail plan (wherever available) of any of the following open ended schemes of Birla Sun Life Mutual Fund: Birla Sun Life Savings Fund, Birla Sun Life Short Term Fund, Birla Sun Life Income Fund, Birla Sun Life Income Plus, Birla Sun LifeCash Manager, Birla Sun Life Gilt Plus, Birla Sun Life Government Securities Fund, Birla Sun Life Dynamic Bond Fund, Birla Sun Life Medium Term Plan, Birla Sun Life Monthly Income, Birla Sun Life MIP, Birla Sun Life MIP II or Birla Sun Life Short Term Opportunities Fund.

* The dividend (net of applicable TDS, if any) shall be switched subject to minimum investment eligibility requirements of the opted scheme at applicable NAV based prices (ex-dividend NAV, if the opted scheme has a record date on the date of exercise of sweep facility) without any entry load. This facility shall be processed on the record date of the dividend declared under the scheme. Further this facility shall not allow for switch of partial dividend or switch of dividend to multiple schemes. In case the investor fails to specify his preference of option/facility for the scheme into which the dividend has to be swept, growth option under the respective scheme/plan shall be default option and the application form shall be processed accordingly.

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