I want to invest in Magnum Contra Fund without paying an entry load of 2.25 per cent. Please let me know how I can do this.
- S. Saha
With effect from January 4, 2008, the market regulator, SEBI has scrapped the entry load for investors who will invest directly with the fund house. So you can save on your entry load if you buy the fund directly from the mutual fund company.
Such purchases can be made either through the internet, or through applications submitted directly to the AMCs or their investor service centres. The load waiver is also applicable to additional purchases done directly by the investor under the same folio and switch-ins to a scheme from other schemes.