I had invested in Magnum Tax Gain and Fidelity Tax Advantage via SIPs. Despite the recent regulation by SEBI that abolished entry loads, my investments in August were made subject to entry load. Is the new regulation not applicable for existing investors as well?
The new norm regarding the abolition of entry loads in mutual funds is applicable only to SIPs registered on or after August 01, 2009. Those SIPs which were registered earlier will continue to be subject to entry loads. If you wish to avoid this, you may consider discontinuing the present SIPs and starting new ones.