ICICI Prudential Mutual Fund has announced changes in load structure excluding Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) in ICICI Prudential Income Plan, with effect from 7 November 2008.
The scheme will charge an exit load of 2% of the applicable NAV for an investment of less than Rs 2 crore-if the amount, sought to be redeemed or switched out, is invested upto six months from the date of allotment.
An exit load of 1.50% of the applicable NAV for an investment of less than Rs 2 crore-if the amount, sought to be redeemed or switched out, is invested for more than six months but upto one year from the date of allotment.
An exit load of 1.00% of the applicable NAV for an investment of less than Rs 2 crore-if the amount, sought to be redeemed or switched out, is invested for more than one year but upto 18 months from the date of allotment.
If the amount, sought to be redeemed or switched out, is invested for more than 18 months from the date of allotment, there is no exit load.
The exit load is nil for investment of Rs 2 crore and above.
ICICI Prudential Income Plan is an open-ended debt fund. The objective of the scheme is to generate income through investment in debt securities.
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