With effect from 1 June 2010
In accordance with the enabling provision of the offer document of
Birla Sun Life Long Term Advantage Fund-Series 1, the scheme stands
automatically converted into open ended scheme, with effect from 1 June
2010. The scheme will mature on 31 May 2010 (Maturity Date).
All the provision pertaining to close ended scheme shall cease
and those pertaining to open ended scheme shall be applicable and the
scheme shall be available for ongoing purchase / switch-in and
redemption/switch-out after a book closure period of 7 days from
maturity date i.e. 8 June 2010.
After the conversion of the scheme into an open ended the following load structure shall apply:
Load chargeable as percentage of NAV.
Entry load will be nil.
For units redeemed / switched out within 365 days from the date
of allotment, an exit load of 1% is payable.
For units redeemed /
switched out after 365 days from the date of allotment, no exit load is
payable.
The above load shall be applicable for SIP/STP transactions.
The revised load structure will be applicable to all investments made
on or after 8 June 2010.
Those unitholders who do not wish to continue either in full or
part with the open ended scheme may submit redemption / switch request
in any of the investor service centre from May 01, 2010 till close to
business hours on 31 May 2010.
All such redemptions / switch requests shall be deemed to have
been received on the maturity date of the scheme and processed
accordingly. No exit load shall be charged on such redemptions/switch.