Fortis Mutual Fund has notified introduction of 'Institutional Plan' under Fortis Quarterly Interval Plan - I.
Details of the plan introduced are as follows:
Minimum application amount: Rs. 1 Crore.
Face Value: Rs. 10 per unit.
Options: Growth option and Dividend (Calendar Monthly, Calendar Quarterly and
Quarterly (at end of each Interval period frequency) Option. Both the options
will have Automatic Renewal and Automatic Redemption facilities.
Load Structure:
Entry load: Nil.
Exit load: 4% if units are redeemed at any time 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 December 15, 2008 and the existing plan shall be renamed as 'Regular Plan'. Both the plans will share common portfolio.
