23 Apr 2008 | 10:35
Birla Sun Life MF introduces new plan in Short Term Fund
Birla Sun Life Mutual Fund has revised the offer document of Birla Sun Life Short Term Fund.
As per the revision, the dividend plan and growth plan offered under the scheme are renamed into retail plan. The retail plan under the scheme will have fortnightly dividend (payout and reinvestment option), monthly dividend (payout and reinvestment option) and growth.
The fund house has introduced institutional plan in the scheme with effect from 24 April 2008. The new plan will have fortnightly dividend (payout and reinvestment option), monthly dividend (payout and reinvestment option) and growth. The units will be available at Rs 10 per unit on 24 April. Application amount under the plan includes purchase (including switch-in): Rs 2,00,00,000 and in multiple of Re 1. Additional purchase (including switch-in): Rs 10,000 and in multiple of Re 1.
Further the fund house has revised the exit load structure of the scheme. The scheme from 24 April, will charge an exit load of 0.15% if the amount invested is redeemed/switched out of units within seven days form the date of allotment. At present the scheme charges an exit load of 0.25%. There is no entry load.
In case the investor fails to specify their preference of investment option, the default option will be monthly dividend reinvestment option.
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