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Kotak Mutual Fund Makes Changes in KBond Wholesale

Kotak Mahindra Mutual Fund has announced the following changes in the K Bond Wholesale Plan with effect from August 16, 2001 :

The exit load of 0.25% of the applicable NAV on redemption of units within 3 months prior to the date of redemption has been removed. Minimum purchase amount has been reduced to Rs 1 lakh from Rs. 25 lakhs.

Minimum amount/units which can be redeemed has been reduced from Rs. 5,00,000 or 50,000 units to Rs. 1,000 or 100 units.

Minimum balance to be maintained has been reduced from Rs. 25,00,000 to Rs. 1,00,000.