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Tuesday, July 28, 2009

Religare MF revises load structure

With effect from 1 August 2009

Religare Mutual fund has carried out following changes in 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 accepted by the fund. Similarly, no entry load will be charged with respect to applications for registrations under systematic investment plans/systematic transfer plans/ dividend transfer plans/event trigger plans accepted by the fund with effect from 1 August 2009.

The upfront commission, if any, on investment made by the investor shall be paid by the investor directly to the distributors, based on the investor's assessment of various factors including services rendered by the distributor.

The fund house also made changes in the exit load structure/ Contingent Deferred Sales Charge (CDSC). The schemes will charge an exit load 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/plans in a separate account and will be utilized for payment of commissions to the distributor and to meet other marketing and selling expenses.

Any amount in excess of 1% of the redemption value charged to the unit holder as exit load/ CDSC shall be credited to the respective scheme/plan immediately

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