IL&FS Mutual Fund has introduced changes in the investment features of all of its schemes, with effect from August 13, 2001.
The face value of IL&FS Bond Fund will be changed to Rs 10 from Rs 100 per unit. The AMC has fixed the 15th day of last month of every quarter, as the record date for dividends in the scheme. All the schemes will offer dividend reinvestment facility under their dividend plans. The minimum investment will be reduced from Rs 10000 to Rs 5000 and the fund will accept applications till 3.30 p.m on any business day. The AMC has also introduced direct credit facility where in the dividend payouts will be directly credited in the specified bank accounts.