Fortis Mutual Fund has notified introduction of 'Institutional Plan' under its
Quarterly Interval Plan K and Quarterly Interval Plan L.
Details of the plan introduced are as follows:
Subscription Date:
Plan K: January 13, 2009
Plan L: January 20, 2009
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' under Plan K and Plan L shall be introduced with effect from January 13, 2009 and January 20, 2009 respectively, and the existing plan shall be renamed as 'Regular Plan'. Both Regular and Institutional plans under the respective schemes will share common portfolio.
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