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Thursday, October 07, 2010

Reliance MF makes addendum to its Schemes

With effect from 11 October 2010 

Reliance Mutual Fund has announced that the existing features of Dividend Transfer Plan (DTP), a special product available in select schemes of the AMC. The revised features as mentioned herewith will be effective from 11 October 2010 and will be available in all open ended schemes existing and launched as on 30 September 2010 but excluding Exchange traded funds and interval funds. 

1.All the unit holders in the dividend plan whether in dividend reinvestment or payout option with any dividend frequency can transfer their dividend to any other open ended scheme by availing such facility. 

2.The dividend declared in the Transferor scheme will be automatically invested into the Transferee scheme at the applicable NAV and accordingly the equivalent units will be allotted in the Transferee scheme. 

3.The unit will be allotted in the Transferee scheme subject to the terms and conditions mentioned in the Scheme Information Document (SID). 

4.The unit holders who wish to opt for this facility has to submit the enrolment form complete in all respects at any of the designated investor service centre at least ten calendar days before the commencement of the first execution date of DTP. 

5.The provision of minimum application amount as specified in the SID of the opted Transferee scheme will not be applicable for availing the DTP facility. 

6.Pursuant to the SEBI circular No SEBI/IMD/CIR NO 14/120784/08 dated March 18 2008, no entry and exit load will be charged for the units allotted on reinvestment of dividend. Accordingly, no exit load will be charged to the Transferor scheme and no entry load for the investment in Transferee scheme. 

7.Unit holders should clearly mention from and to which scheme /option / he or she wish to transfer their dividend. 

8.This facility will not be available for units which are under the Lien/Pledge or any lock in period. 

9.The unit holders can discontinue DTP facility by providing a written notice to the DISC at least 10 calendar days prior to the due date of the next transfer date. 

10.DTP will be automatically terminated if all the units are liquidated or withdrawn from the Transferor scheme or pledged or upon receipt of intimation of death of the unit holder.
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