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Thursday, September 03, 2009

HDFC MF Announces Change in Load Structure

With effect from 3 September 2009

HDFC Mutual Fund has decided to revise the load structure for investments through Systematic Transfer Plan (STP) from the Transferor Schemes (all schemes offering STP facility) to the following Transferee Schemes viz. HDFC Growth Fund, HDFC Equity Fund, HDFC Top 200 Fund, HDFC Capital Builder Fund, HDFC Core & Satellite Fund, HDFC Premier Multi-Cap Fund, HDFC Balanced Fund and HDFC Prudence Fund, with effect from 3 September 2009.

Exit Load of the Transferor Scheme(s) (i.e. any scheme offering STP facility) to the following Transferee Scheme(s) and entry load in the above mentioned Transferee Scheme(s):

Accordingly the amount transferred under the STP from the transferor scheme to the transferee scheme shall be effected by redeeming units of transferor scheme at applicable NAV after payment of exit load, if any, and subscribing to the units of the transferee scheme at applicable NAV.

Entry load is not applicable with effect from 1 August 2009.

Exit Load of the above mentioned Transferee Scheme(s):

Accordingly in respect of each investment through STP, an exit load of 1.00% is payable if units are redeemed / switched-out within 1 year from the date of allotment.

In respect of each investment through STP, no exit load is payable after 1 year from the date of allotment.

In respect of amount withdrawn under Systematic Withdrawal Advantage Plan (SWAP) from the scheme(s) of HDFC Mutual Fund (all scheme(s) offering SWAP facility), the exit load, if any, applicable to the scheme / plan / option as on the date of enrolment of SWAP shall be levied.

The aforesaid changes will be applicable on a prospective basis from 3 September 2009 and shall be applicable for STP / SWAP enrolments made in the above mentioned schemes on or after 3 September 2009.

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