24-Dec-2008
Fortis Mutual Fund has notified introduction of 'Institutional Plan' under Fortis Interval II Quarterly Plan M (w.e.f. December 29, 2008) and Fortis Interval II Quarterly Plan N (w.e.f. Janurary 05, 2009).
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' thus introduced under the schemes will share common portfolio with the existing plans, which shall henceforth be renamed as 'Regular Plan'.
