The Hindu Business Line : Update

ABN AMRO Mutual Fund has revised the load structure for its Equity and Tax Advantage scheme, with effect from September 27. Under ABN AMRO Equity,(CDSC) an exit load of 1 per cent will now be charged for investment less than Rs 5 crore if redeemed within six months and 0.50 per cent for investment of Rs 5 crore or more, but less than Rs 25 crore, if redeemed within six months. Under ABN AMRO Tax Advantage, an entry load of 2.25 per cent will be charged for investment less than Rs 5 crore. The fund has waived the entry load for investments greater than or equal to Rs 5 crore.

SBI Mutual Fund has announced a dividend of 50 per cent (Rs 5 on face value of Rs 10) under the Magnum Equity Fund. The record date is October 3.

ING Vysya Mutual Fund launched a three-year close-ended fund, ING Vysya Dynamic Asset Allocation Fund. The fund will invest in equity/equity-related securities and may invest in debt, money market instrument, for defensive purposes.

It will invest up to 50 per cent in mid-cap stocks. It will have a "floor" and "multiplier", which will aim at protecting capital while offering reasonable returns. The offer opened on September 27 and closes on October 19. The minimum investment amount is Rs 5,000 and multiples of Re 1 thereafter.

HDFC Mutual Fund has waived the entry load structure for investments made in HDFC Multiple Yield fund from October 10 to October 31 (both days inclusive). With effect from November 1, the fund will resume charging entry load of 1 per cent.

The fund-house has also revised the exit load structure in HDFC MF Monthly Income Plan Long Term plan with effect from October 3. In respect of each purchase and switch-in less than Rs 5 crore, an exit load of 1 per cent is payable if the units are redeemed/switched within a year from the date of allotment. For investments greater than Rs 5 core no exit load payable.

More Stories on : Mutual Funds | Mutual Funds

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page