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Thursday, July 30, 2009

Birla Sun Life MF announces change in load structure

With effect from 3 August 2009

Birla Sunlife Mutual Fund has revised load structure in Birla Sun Life Floating Rate Fund – Long Term Plan, an open ended income scheme, with effect from 3 August 2009. The change also includes for Systematic Investment Plan (SIP) Transactions.

Revised Structure:

Accordingly, the entry load charge will be nil. The scheme will charge an exit load of 3% of applicable NAV, for redemption/ switch out of units within 3 years from the date of allotment.

Existing Structure:

The scheme charges an entry load of 1.00% of the applicable NAV for purchase/ switch in units. The scheme charges an exit load of 2.00% of applicable NAV for redemption/ switch out of units within 365 days from the date of allotment

The scheme has the investment objective to generate regular income through investment in a portfolio comprising substantially of floating rate debt/ money market instruments. The scheme may invest a portion of its net assets in fixed rate debt securities and money market instruments.

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