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Friday, June 19, 2009

Birla Sun Life MF Introduces Discipline Advantage Plan

With effect from 22 June 2009

Birla Sun Life Mutual Fund has introduces the Discipline Advantage Plan under Birla Sun Life Short Term Fund, Birla Sun Life Savings Fund and Birla Sun Life Cash Plus with effect from 22 June 2009. And the fund house has discontinued the STP facility under all the above mentioned schemes.

Detail of the plan:

Plan: Discipline Advantage Plan

Option: Growth

Features: Under the Discipline Advantage Plan, an investor may systematically transfer his investments from the schemes to any of the eligible equity schemes. The eligible schemes are Birla Sun Life Frontline Equity Fund, Birla Sun Life Midcap Fund, Birla Sun Life Top 100 Fund, Birla Sun Life Equity Fund, Birla Sun Life Infrastructure Fund and Birla Sun Life Tax Relief'96.

Minimum Application Amount: The sum of transfer amounts as per the frequency opted or Rs 10000 whichever is greater.

Frequency Transfer: Weekly Transfer, Monthly Transfer or Quarterly Transfer.

Minimum Transfer Amount: Weekly Transfer – 5 transfers for Rs 1000 each, Monthly Transfer – 6 transfers for Rs 1000 each and Quarterly Transfer- 4 transfers for Rs 2000 each.

Transfer Dates: For Weekly Transfer – transfers shall be on 1st, 7th, 14th, 21st and 28th of each month. For Monthly and Quarterly Transfer – transfer can be on 1st or 7th or 10th or 14th or 20th or 21st or 28th of every month/ quarters as applicable.

Load Structure: For Discipline Advantage Plan, no entry load will be charge and exit load 2.50% will be charged for units redeemed/switched out to any scheme other than eligible equity schemes within 2 years from the date of allotment.

Exit load at time of transfer out will be nil and entry load at the time of Transfer IN, the entry load will be payable as applicable to respective eligible equity scheme(s).

Exit load at time of redemption from equity scheme will be as applicable to respective eligible equity scheme(s).

The new plan introduced under the schemes will have the same investment objective, portfolio, liquidity and expense ratio as that of existing plans of the respective schemes.

Discontinuation of STP:

The Systematic Transfer Plan (STP) facility under Birla Sun Life Short Term Fund, Birla Sun Life Savings Fund and Birla Sun Life Cash Plus has been discontinued with effect from 22 June 2009. Accordingly, no new fresh application for STP facility shall be accepted.

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