Fortis Mutual Fund has notified introduction of 'Institutional Plan' under Fortis Q Interval Plan H, and changes in exit load under Fortis Flexible Short Term Plans (Plan A, B, C and D) and Fortis (all) Interval Plans.
1. Introduction of Institutional Plan under Fortis Q Interval Plan H:
Minimum application amount: Rs. 1 Crore.
Face Value: Rs. 10 per unit.
Entry load: Nil.
Exit load: 4% if units are redeemed anytime other than during the interval period.
Benchmark: Crisil Liquid Fund Index.
Total recurring expenses (estimated): 2% of net assets (including Management Fee of 1.25%).
The 'Institutional Plan' shall be introduced with effect from November 18, 2008.
2. Changes (w.e.f. November 18, 2008) in Exit load under Fortis
Interval Plans and Fortis Flexible Short Term Plans:
Entry Load: Nil
Exit Load: 4% if units are redeemed at anytime other than during the interval periods.