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Monday, May 25, 2009

ICICI MF revises exit load structure in various funds

With effect from 01 June 2009

ICICI Prudential Mutual Fund has announced changes in exit load structure of ICICI Prudential Balanced Fund, ICICI Prudential Infrastructure Fund, ICICI Prudential Power, ICICI Prudential Discovery Fund, ICICI Prudential Services Industries Fund, ICICI Prudential Dynamic Plan, ICICI Prudential Emerging S.T.A.R (Stocks Targeted At Returns) Fund, ICICI Prudential Banking & Financial Services Fund, ICICI Prudential Focused Equity Fund, ICICI Prudential Equity and Derivatives – Wealth Optimiser Plan, ICICI Prudential FMCG Fund, ICICI Prudential Indo Asia Equity Fund and ICICI Prudential Technology Fund, with effect from 01 June 2009.

Accordingly, for the above mentioned schemes, the exit load structure (excluding Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP)) under retail option will be revised to 1.00% of the applicable NAV, if the amount sought to be redeemed or switched out is invested for a period of upto one year from the date of allotment. The scheme will not charge any exit load, if the amount sought to be redeemed or switched out is invested for a period of more than one year from the date of allotment. And it will also not charge any exit load for an investment amount of Rs 5 crore and above.

For all applications under ICICI Prudential Balanced Fund made through Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP), the scheme will charge an exit load of 1.5%, if the amount sought to be redeemed or switched out is invested for a period of upto one year from the date of allotment. the exit load will be 1.00% if the amount sought to be redeemed or switched out is invested for a period of more than one year upto two years from the date of allotment and nil, if the amount sought to be redeemed or switched out is invested for a period more than two years from the date of allotment.

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