I have recently redeemed my investments in Canara Robeco Income Fund. While the exit load quoted on their website at the time of redemption was 0.50 per cent, they charged me 1 per cent. The same load percentage was quoted on AMFI's website and ICICIDirect.com. Is this not cheating investors?
- Narendra Parmar
Redemptions from a fund are subject to the exit load that is applicable at the time of investing and not the prevailing exit load. The fund had been charging an exit load of 1 per cent between January 5 and May 12, 2009. If you had invested during this period, exit load of 1 per cent will apply on redemptions.