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Thursday, July 30, 2009

Escorts MF amends load structure

With effect from 1 August 2009

Escorts Mutual fund has decided to revise the entry and exit load structure of all the schemes of the fund house, with effect from 1 August 2009.

In accordance to the requirements specified by Securities and Exchange Bard of India (Sebi) circular dated 30 June 2009, no entry load will be charged for purchase/additional purchase/switch-in from other schemes.

The upfront commission to distributor will be paid by the investor directly to the distributor, based on his assessment of various factors including service rendered by the distributor.

The scheme will charge an exit load or Contingent Deferred Sales Charge (CDSC) up to 1% of the redemption value charged to the unit holder by the fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for payment of commissions to the distributor and to meet other marketing and selling expenses.

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