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Thursday, July 30, 2009

Fortis MF revises load structure for various schemes

With effect from 1 August 2009

Fortis Mutual Fund revises the entry and exit load structure for Fortis Equity Fund, Fortis Opportunity Fund, Fortis Dividend Yield Fund, Fortis Future Leaders Fund and Fortis China-India Fund. The change will take effect from 1 August 2009.

Revised Load structure:

Accordingly, for application amount below 2 crores, the scheme will not charge any entry load. The scheme will charge 2.00% as exit load, if redeemed/switched out within 1 year from the date of subscription/ switch in. It will charge an exit load of 1.00%, if redeemed/switched out after 1 year but within 3 years from the date of subscription/ switch in. And the scheme will not charge any exit load, if redeemed/switched out after 3 years from the date of subscription/ switch in.

For application amount of 2 crores and above, the revised entry and exit load charge will be nil.

The above load shall also be applicable to the prospective investors in case of switches between equity schemes of the fund and all systematic investment plans, systematic transfer plans and systematic withdrawal plans. No exit load will be charged on switches between options of the same equity schemes of the fund.

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